Explainer
MNQ tick value and point value
One MNQ point is worth $2 and one tick is 0.25 points, which is $0.50, so there are four ticks in a point.
Updated
The short answer
MNQ is the Micro E-mini Nasdaq-100 future. One point is worth $2. The tick, the smallest price move, is 0.25 points, which is $0.50. Four ticks make a point, and four times $0.50 is $2.
MNQ follows the same index as NQ at a tenth of the dollars per point. NQ is $20 a point.
- MNQ
- Micro E-mini Nasdaq-100 futures. $2 per point.
- Point
- A whole price unit. On MNQ it is worth $2.
- Tick
- The smallest price move. On MNQ it is 0.25 points, worth $0.50.
- Round trip
- One entry and one exit. Commission is charged on each, so a round trip is two sides.
On MNQ one point is $2 and one tick is $0.50. Convert every stop and target to dollars before you read a result.
MNQ against the other index contracts
These are the contract specifications our runs use.
| Contract | Dollars per point | Tick size | Tick value | Ticks per point |
|---|---|---|---|---|
| MNQ | $2 | 0.25 | $0.50 | 4 |
| NQ | $20 | 0.25 | $5.00 | 4 |
| MES | $5 | 0.25 | $1.25 | 4 |
| ES | $50 | 0.25 | $12.50 | 4 |
Reading a move in ticks, points and dollars
Here is the arithmetic for one MNQ contract. The sizes are examples of the conversion, not results from any run.
A tick is the smallest step the price can make. On MNQ that is 0.25 points, so a price of 21,000.00 can next trade at 21,000.25, and a move of 10 points is 40 ticks. Divide points by 0.25 to get ticks, then multiply points by $2 to get dollars.
- One tick, 0.25 points, is $0.50.
- One point, four ticks, is $2.00.
- Ten points, forty ticks, is $20.00.
Stops and targets in dollars
The chart shows price in points. The order fills in ticks. Dollars come from the contract. A stop 10 points from the entry risks $20 on one MNQ contract, before costs.
Ten MNQ contracts with the same stop risk $200. That is the same dollars as one NQ contract with a 10-point stop, because ten times $2 is $20 a point. This is arithmetic on the contract values, not a result from any run. It is also why MNQ is the smaller step: it lets a test, or an account, change size in smaller amounts.
Costs on MNQ
Commissions and fees vary by broker; a backtest should use your own.
MNQ and NQ in the same backtest
MNQ shares NQ’s roll calendar. Both take the front month by volume and switch at the 18:00 ET session open, on raw prices that are not back-adjusted.
The history differs. On our data NQ runs from June 2, 2016 through August 27, 2026. MNQ runs from its launch in May 2019 through the same date. A run cannot ask for more history than the data covers for the market you picked.
The futures angle
In the Trade Lab replay, paper orders use NQ or MNQ on an index market, and the account strip shows balance, equity and open profit and loss as you step through the bars. That makes tick and point values easy to see on a real chart. Replay it on real NQ data, free, in the Trade Lab.
Questions and answers
What is the tick value of MNQ?
One tick is 0.25 points, which is $0.50.
What is one point worth on MNQ?
One point is worth $2.
How many ticks are in a point on MNQ?
Four. The tick size is 0.25 points, so four ticks make one point.
Is MNQ the same as NQ?
It follows the same index and shares NQ’s roll calendar, but a point is worth $2 on MNQ and $20 on NQ.
What commission do you use for MNQ in a backtest?
Commissions and fees vary by broker; a backtest should use your own.