How many scales? 4 maybe of 1 lot each? So you need 2k for that at $500 margin. With 22k you easily cover that and then some.
The ES is already a mini contract in itself WYI. So please, dont talk about mini futures as 0.1 the size of a mini. What you are talking about it CFDs, Contract For Difference. Some shady market makers outside the US offer them (I have no clue how they hedge) usualy for a comish, higher spread and higher interest on margin. I say shady but some are legit respectable firms (ex; CMC markets in the UK). And the answer is no, you can't trade that thing in the US (as long as I know), it is prohibited by your great government. For fear you could trade for a living, like the PDT rule. I have no clue if there is a workaround.
Hey it turns out that on March 23rd the CME is going to be releasing e-micro FX futures priced at 1/10 of a normal FX future. So like $1.25 or $1.00 per tick or so depending on what contract you're looking at. Cool!
IB offers a roundtrip for $4.80 US, or about $7 AU. Obviously doesn't help if you don't want to trade the full ES, but it does show that commissions are high. Still minimal compared to trading Aussie shares though.
it has nothing to do with ES, but it has everything to do with mini futures which was the subject of this thread.