Futures Trading Reference Guide - BetterTrader.co (2024)

Futures Months

January – F
February -G
March– H
April– J
May– K
June– M
July– N
August Q-
September– U
October– V
November– X
December – Z

Futures Contracts Months Codes

JAN	FEB	MAR	APR	MAY	JUN
F	G	H	J	K	M

JUL	AUG	SEP	OCT	NOV	DEC
N	Q	U	V	X	Z

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Futures Symbols 101

GC	Z	17
CONTRACT SYMBOL (Gold)	EXPIRATION MONTH (December)	EXPIRATION YEAR (2017)

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Futures Symbols List

Futures Symbol 101
Futures Contracts Months Codes
Stock Indices Futures Symbols
Currencies Futures Symbols
Energies Futures Symbols
Metals Futures Symbols
Metals Futures Symbols
Interest Rates Futures Symbols
Soft and Fibers Futures Symbols
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For example, a gold future that expires in December 2017 would have the symbol: GCZ17 (GC December 2017).

Futures Symbols 101

GC	Z	17
CONTRACT SYMBOL (Gold)	EXPIRATION MONTH (December)	EXPIRATION YEAR (2017)

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Futures Month Symbols

Futures Contracts Months Codes

JAN	FEB	MAR	APR	MAY	JUN
F	G	H	J	K	M

JUL	AUG	SEP	OCT	NOV	DEC
N	Q	U	V	X	Z

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Below you can find the symbols associated with each month of expiry for future contracts. While the letters might seem erratically dispersed, this is most likely because the preceding letters already have associations in trading contexts ( A= Ask, B= Bid, C= Corn, E=Eggs, O= Oats, S= Soybeans, W= Wheat etc.). This leaves the remaining letters to be served for the months of the year. However, the original future trading commodities dealt with agricultural resources, therefore corn and wheat are represented, while crude oil is not. While this explanation seems probable, there is no definitive reason for the denotations but they are still globally accepted as the correct symbols.

Futures Specification

What is "Min Tick"?

Min Tick is the minimum movement that is captured for a given instrument. For instance if the Tick is 0.01 this means the minimum price movement that will be recorded is 0.01. For example CL (the futures contract for oil) is trading today at 67.01 and the minimum change in price that will be recorded is from 67.01 to 67.02 or from 67.01 to 67.00 this is the definition of Min Tick being 0.01

What is "Tick Value"?

This means how much each tick movement is worth. For example assume we are talking about the futures contract for oil which is denoted as CL. The definition of the oil contract size is for 1000 barrels . Thus since the "Tick" is 0.01 the tick value is equal to the contract size multiplied by minimum tick, in our oil contract example 0.01*1000 =$10. In summary; Tick Value = Tick*Contract Size.

Futures Symbol List

Stock Indices

SYMBOL	FUTURE CONTRACT	EXCHANGE	FUTURES DELIVERY MONTH	MIN TICK	INITIAL MARGIN	TICK $ VALUE
DJ	Dow Jones Industrials	CBOT	H, M, U, Z	1.000	$3.550	$10
ND	Nasdaq 100	CME	H, M, U, Z	0.250	$4.290	$25
SP	S&P 500	CME	H, M, U, Z	0.050	$4.200	$12.5

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Below you can find the symbols associated with every kind of futures contract, where they are exchanges, the month of delivery, the minimum tick size/price shift, and the $-value (amount of profit or loss incurred with each tick). You can also find the initial margin of each future contract, which signifies the minimum amount to be available in your account as a collateral for each contract that you have open position on. When you purchase a futures contract, the initial margin is the minimum amount of money that must be deposited into your account which is refunded with any gains or losses when your contract is liquidated. The amount in this margin account fluctuates daily in response to the market in relation to your futures contract.

Currencies Futures Symbols

Currencies

SYMBOL	FUTURE CONTRACT	EXCHANGE	FUTURES DELIVERY MONTH	MIN TICK	INITIAL MARGIN	TICK $ VALUE
AD	Australian Dollar	CME	H, M, U, Z	0.010	$1.430	$10
BP	British Pound	CME	H, M, U, Z	0.010	$2.310	$6.25
CD	Canadian Dollar	CME	H, M, U, Z	0.010	$1.045	$10
DX	US Dollar Index	ICE	H, M, U, Z	0.010	$1.980	$10
EU	EuroFx	CME	H, M, U, Z	0.010	$2.310	$12.5
JU	Japanese Yen	CME	H, M, U, Z	0.010	$3.300	$12.5
SF	Swiss Franc	CME	H, M, U, Z	0.010	$3.438	$12.5

Energies Futures Symbols

Energies

SYMBOL	FUTURE CONTRACT	EXCHANGE	FUTURES DELIVERY MONTH	MIN TICK	INITIAL MARGIN	TICK $ VALUE
CL	Crude Oil	NYM	F, G, H, J, K, M, N, Q, U, V, X, Z	0.010	$2.750	$10
HO	NY Harbor ULSD/Heating oil	NYM	F, G, H, J, K, M, N, Q, U, V, X, Z	0.010	$3.300	$4.2
HU	Unleaded Gas	NYM	F, G, H, J, K, M, N, Q, U, V, X, Z	0.010	$3.150	$4.2
NG	Natural Gas	NYM	F, G, H, J, K, M, N, Q, U, V, X, Z	0.001	$2.090	$1
RB	RBOB Gasoline	NYM	F, G, H, J, K, M, N, Q, U, V, X, Z	0.010	$3.520	$4.2
ITCO/BRN	Brent Crude	ICE	F, G, H, J, K, M, N, Q, U, V, X, Z	0.010	$4.070	$10

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Meats Futures Symbols

Meats

SYMBOL	FUTURE CONTRACT	EXCHANGE	FUTURES DELIVERY MONTH	MIN TICK	INITIAL MARGIN	TICK $ VALUE
FC	Feeder Cattle	CME	F, H, J, K, Q, U, V, X	0.025	$4.263	$12.5
LC	Live Cattle	CME	G, J, M, Q, U, V, Z	0.025	$2.255	$10
HE	Lean Hogs	CME	G, J, K, M, N, Q, V, Z	0.025	$1.320	$10
DA	Milk class III	CME	F, G, H, J, K, M, N, Q, U, V, X, Z	0.010	$1.300	$20

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Grains & Soy Complex Futures Symbols

Grains & Soy Complex

SYMBOL	FUTURE CONTRACT	EXCHANGE	FUTURES DELIVERY MONTH	MIN TICK	INITIAL MARGIN	TICK $ VALUE
BO	Soybean Oil	CBOT	F, H, K, N, Q, U, V, Z	0.010	$935	$6
C	Corn	CBOT	F, H, K, N, U, X, Z	0.250	$935	$12.5
KW	Kansas City Wheat	KCBT	H, K, N, U, Z	0.250	$1.250	$12.5
MW	Minneapolis Wheat	MGE	H, K, N, U, Z	0.250	$2.250	$12.5
O	Oats	CBOT	H, K, N, U, Z	0.250	$880	$12.5
S	Soybeans	CBOT	F, H, K, N, Q, U, X	0.250	$2.310	$12.5
SM	Soybeans Meal	CBOT	F, H, K, N, Q, U, V, Z	0.100	$1.980	$10
W	Wheat	CBOT	H, K, N, U, Z	0.250	$1.320	$12.5

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Metals Futures Symbols

Metals

SYMBOL	FUTURE CONTRACT	EXCHANGE	FUTURES DELIVERY MONTH	MIN TICK	INITIAL MARGIN	TICK $ VALUE
GC	Gold	CMX	G, J, M, Q, V, Z	0.100	$4.345	$10
HG	Copper	CMX	H, K, N, U, Z	0.050	$2.640	$12.5
PL	Platinum	NYM	F, J, N, V	0.100	$2.090	$5
SI	Silver	CMX	H, K, N, U, Z	0.005	$5.500	$0.25

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Interest Rates Futures Symbols

Interest Rates

SYMBOL	FUTURE CONTRACT	EXCHANGE	FUTURES DELIVERY MONTH	MIN TICK	INITIAL MARGIN	TICK $ VALUE
ED	Eurodollars	CME	H, M, U, Z	0.005	$3.850	$12.5
FV	5-Yr T-Notes	CBOT	H, M, U, Z	0.016	$770	$15.625
MB	Municipal Bonds	CBOT	H, M, U, Z	0.031	$3.150	$31.25
TU	2-Yr T-Notes	CBOT	H, M, U, Z	0.008	$462	$15.625
TY	10-Yr T-Notes	CBOT	H, M, U, Z	0.016	$1.430	$15.625
US	30-Yr T-Notes	CBOT	H, M, U, Z	0.031	$3.850	$31.25

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Soft and Fibers Futures Symbols

Soft & Fibers

SYMBOL	FUTURE CONTRACT	EXCHANGE	FUTURES DELIVERY MONTH	MIN TICK	INITIAL MARGIN	TICK $ VALUE
RR	Rice	CBOT	F, H, K, N, U, X	0.500	$975	$50
CC	Cocoa	ICE	H, K, N, U, Z	1.000	$1.595	$10
CT	Cotton	ICE	H, K, N, U, Z	0.010	$2.530	$5
KC	Coffee	ICE	H, K, N, U, Z	0.050	$2.970	$18.75
LB	Lumber	CME	F, H, K, N, U, X	0.100	$1.595	$11
JO	Orange Juice	ICE	F, H, K, N, U, X	0.050	$1.600	$7.5
SB	Sugar #11	ICE	H, K, N, V	0.010	$1.232	$11.2

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Futures Trading Reference Guide - BetterTrader.co (2024)

FAQs

How do you get approved for futures trading? ›

To apply for futures trading approval, your account must have:

Margin approval (check your margin approval)
An account minimum of $1,500 (required for margin accounts.)
A minimum net liquidation value (NLV) of $25,000 to trade futures in an IRA.

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What is the best broker for trading futures? ›

Best online brokers for futures

Interactive Brokers.
E*TRADE.
Charles Schwab.
tastytrade.
TradeStation.

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What is the Z code in futures? ›

Contract Month Codes

Month	Month Code
September	U
October	V
November	X
December	Z

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How much is 10 pips in ticks? ›

Both terms are similar and one or the other is usually used depending on the financial asset. However, when brokers offer currency pairs with 5 decimal places (or 3 decimal places for JPY pairs), as is the case with Darwinex, 1 pip is equivalent to 10 ticks.

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How many pips is 1 tick? ›

In the forex market, where currencies are traded in pairs, a tick usually represents the smallest change in the exchange rate of a currency pair. This change is typically equivalent to a one-pip change.

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Do you need $25,000 to day trade futures? ›

Minimum Account Size

A pattern day trader who executes four or more round turns in a single security within a week is required to maintain a minimum equity of $25,000 in their brokerage account.

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Can I trade futures with $100? ›

This can be a risky form of trading, but it also has the potential to generate large profits. If you are starting with a small amount of capital, such as $10 to $100, it is still possible to make money on futures trading.

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Can I make a living trading futures? ›

Trading futures for a living is a compelling idea — but to do it successfully, you'll need sufficient startup capital and a well-designed trading plan. You'll also need a trading platform that offers fast, reliable access and the right technological tools.

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Which futures is most profitable? ›

What futures are most profitable? Trading in futures markets such as the Micro E-Mini Russell 2000 (M2K), Micro E-Mini S&P 500 (MES), Micro E-Mini Dow (MYM), and Micro E-Micro FX contracts can be highly profitable due to their distinct market characteristics.

Who is the richest futures trader? ›

George Soros: The Master of Crisis Trading

George Soros's reputation as one of the richest futures traders is rivaled only by his prowess in crisis situations. His strategic market plays are not only legendary for their impact but have also contributed massively to his wealth.

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How much money is needed to trade futures? ›

Some small futures brokers offer accounts with a minimum deposit of $500 or less, but some of the better-known brokers that offer futures will require minimum deposits of as much as $5,000 to $10,000.

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What does H mean in futures? ›

The year code is displayed as two digits. For Example, a March (month code = H) 2018 (year code = 18) contract of AB would be entered as ABH18. Monthly Futures Symbol List.

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What is futures formula? ›

So with that, the formula is: Futures Price = Spot price * [1+ rf*(x/365) – d] X – number of days to expiry. Let's discuss it with an example. To help with calculation, we are assuming the following values.

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What is F and O futures? ›

Futures and options (F&O) are derivative products in the stock market. Since they derive their values from an underlying asset, like shares or commodities, they are called derivatives.

How much is 1 tick in trading? ›

For most stocks, the tick size is $0.01, but fractions of a cent may also occur. "Pips" and basis points (bps) are tick sizes used in currency and fixed-income markets.

How much is 1 tick to dollar? ›

You can convert 1 TICK to 0.177232 USD. Live TICK to USD calculator is based on live data from multiple crypto exchanges.

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What does 1 tick mean on what? ›

Ticks appear next to a message once it has been sent. A single grey tick indicates the message has been successfully sent. Two grey ticks mean the message has been delivered to the recipient's phone or any of their linked devices.

How much is 1 point in micro futures? ›

Similar to the E-mini, the tick increments of the Micro E-mini S&P 500 are quoted in a quarter of one point, a one tick move in the Micro E-mini S&P 500 equates to $1.25. A one-point move, which is four ticks, is worth $5.

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