Hi, I was hoping someone could clear this margin question up for me. I would like to to trade the E-micro FX futures contract. The margin is $286 for the USD/JPY and the maintenance is $260. I believe the tic price is one dollar. If I wanted to trade five contracts, would I need to have a margin of 1,430 286 X 5 contracts. Could someone please give me a hand with this. Thank you
http://www.cmegroup.com/trading/fx/e-micros/e-micro-euro_contract_specifications.html 0.0001 USD/EUR (=US$1.25) Your initial margin is $286 x 5 You better have $260 x 5 in your account at the end of the day That is all there is to it
It's this one http://www.cmegroup.com/trading/fx/e-micros/e-micro-japanese-yen_contract_specifications.html 0.9387$ tick value. Knowing that the comission is > 2$ If I was you. I wouldn't day trade micro FX. The cost is way too high compared to the tick value.
No worry You've done a great job. That's what came to my mind too. But I read it twice and saw he mentioned M6J
If really you want to trade Micro FX, Pick Eur/Usd. It has a better Return / Cost. As DarthSidious said, it's 1.25$ per tick, For the same commission as M6J. But don't even try to scalp them. It's more for Swing trader. M6E isn't that liquid ... But still more than M6J I guess. It's very boring also. And prone to slippage.