Micro FX futures

Diversify your portfolio with deeply liquid FX products offered at a lower initial margin.

More access, less margin

Get expanded access to FX marketplace opportunities with the lower initial margin of smaller-sized futures contracts.

Trade the global FX market

Tap into liquid G10 currency pairs in a regulated marketplace.

Go long or go short

Enjoy flexibility and discover the benefits of going long or short with Micro FX futures.

Micro FX products

View CME Rulebook for information on exchange rules, delivery procedures and clearing services.

TRANSPARENT FX TRADING

Experience clear and transparent pricing with CFTC-regulated Micro FX futures.

Size up opportunities in the world’s leading currencies

Explore opportunities from some of the most actively traded G10 currency pairs, available in smaller-sized contracts that make it easier to step into new markets.

Capitalize on changes in macroeconomic factors that can influence currency prices, such as interest rates, inflation and GDP growth.

Micro EUR/USD futures

Take advantage of the most actively traded currency pair globally. The euro and U.S dollar are underpinned by more than $1T in goods and services trade annually.

Micro JPY/USD futures

More than $250B of goods and services are exchanged between the U.S. and Japan each year, providing a natural and liquid market.

Micro GBP/USD futures

One of the most actively traded currencies in the world, the British pound and U.S. dollar are underpinned by more than $250B in trade annually.

Micro AUD/USD futures

Australia's resource-driven economy is heavily dependent on global growth and commodity prices. AUD/USD futures can be used by traders who are seeking exposure to movements in commodity prices that have a large influence on terms of trade (e.g., iron ore, natural gas, agricultural, etc.).

Micro CAD/USD futures

Canada’s status as a leading oil exporter and its strong economic ties with the U.S. create opportunities in this currency pair for traders looking to benefit from fluctuations driven by commodity prices, global growth and geopolitical events.

Compare FX futures vs. similar instruments

Explore the unique differences and benefits of FX futures – available in a choice of larger contracts and Micro FX contracts that are 1/10 the size – compared to other ways of trading FX.

Compare FX Futures vs. Cash FX

Benefit	Futures	Cash FX
Liquidity & 24-Hour Access	Yes $100B daily	Yes $5.3T daily but highly fragmented globally
Regulated, Centralized Market	Yes World’s largest regulated for FX	No Face counterparty & execution risk
Level-Playing Field	Yes See same prices, quotes, trade firm liquidity	No Little to no transparency, last look commonly used
Fully Disclosed Fees	Yes Plus known, universal margin requirements	No Spreads often built into prices, varying margin/credit charges subject to counterparty
Safety & Security	Yes Trades regulated, centrally cleared	No
Speed & Performance	Yes Fast trade executions, confirmations & straight-through processing	Depends Speed bumps, last-look, re-quoting execution delays common

Contract specifications

Learn the contract details for trading our Micro FX futures.

	MICRO EUR/USD	MICRO AUD/USD	MICRO GBP/USD	MICRO CHF/USD	MICRO JPY/USD
Underlying Currency	Euros	Australian dollars	British pounds	Swiss Franc	Japanese yen
Contract Size	12,500 euros	10,000 Aussie dollars	6,250 pounds	12,500 CHF	1,250,000 JPY
Ratio to Standard Contract	1/10	1/10	1/10	1/10	1/10
Minimum Tick/Price Fluctuation	0.0001 USD per EUR	0.0001 USD per AUD	0.0001 USD per GBP	0.0001 USd per CHF	0.000001 per JPY
Value of One Tick	$1.25 per contract	$1 per contract	$0.625 per contract	$1.25	$1.25 per contract
Product Code	M6E	M6A	M6B	MSF	MJY
Settlement	Physical	Physical	Physical	Physical	Financial
Trading Hours	Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT

Get answers to frequently asked questions

What are FX futures?

Our FX futures contracts are derivatives based on the exchange rate between one currency and the U.S. dollar. Our most highly traded currency pairs include EUR/USD, JPY/USD, GBP/USD, CAD/USD and AUD/USD, known as the G5 pairs.

Course: Introduction to FX

Why should I trade FX futures?

All-to-All marketplace: All participants are treated the same. From the world’s largest investment banks, hedge funds, asset managers and corporations to active individual investors, everyone sees the same price and has equal access to the same trade.
Firm liquidity, safety and security: We are the home to the world’s largest regulated global FX marketplace that offers certainty of execution along with the safety and security of clearing. CME Clearing backs all trades, mitigating counterparty credit risk so you can trade with confidence.
Market transparency: FX futures give you a true, transparent view of the market, providing clear visibility into liquidity and price levels traded in the market. There is full transparency into contract volume and pricing, allowing all users to transact on a level playing field. There are no hidden costs of trading, with fully disclosed fees and universal margin requirements.
Around-the-clock trading and liquidity: Over $80B in daily notional FX liquidity, over $270B in notional open interest, tight bid/ask spreads and nearly 24-hour access so you can act as market-moving world news and events unfold.
Capital efficiency: Free up capital via lower margin requirements, futures leverage and margin offsets with other FX contracts. Average initial margin requirements are approximately $1,800 and $180 across the standard size and Micro G5 FX contracts respectively, resulting in an average maximum leverage ratio of 51:1.

How do I trade FX futures?

Find a registered futures broker in your region offering FX futures.

Find a Broker to maintain your trading account

Are there larger FX futures contracts?

We also offer standard-sized futures contracts on developed and emerging market currency pairs. Micro FX futures are 1/10 the size of our standard FX contract.

2024 FX Product Guide

Tools for your trading strategy

Build and refine your trading strategies with fee pricing and analytics tools for Micro FX futures.

Market Commentary

View the latest insights on trends in the FX market.

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Master the FX market

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Take self-guided courses on FX products

Explore Micro FX futures and the FX market with a variety of lessons to learn at your own pace.

1 module

Micro FX futures – Understanding the FX market

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