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Now available: Excell with Options Report

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New to futures?

Learn why traders use futures, how to trade futures and what steps you should take to get started.
Micros

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. 

Contract specs

Trade the global FX market

Tap into liquid G10 currency pairs in a regulated marketplace. 

Currency pairs

Go long or go short

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

Tools

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.

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.

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

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.

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.).

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
Trading Simulator

Boost your skills trading Micro FX futures by practicing with real market data in a risk-free, simulated environment.

CVOL CHART:
TRACK RISK AND FIND OPPORTUNITIES IN G5 FX CURRENCIES.

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

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

  • 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.

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

Find a Broker to maintain your trading account

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
More than just Micros

As your skills and confidence with Micro FX futures grow, you can easily transition to larger FX contracts to increase your market exposure.

Explore contract sizes

Tools for your trading strategy

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

Open Interest Profile Tool

Analyze open interest and open interest change patterns for each expiration within FX products.

Commitment of traders tool

View FX market open interest reports based on CFTC reports in a comprehensive graph format.

FX Market Profile Tool

Compare liquidity in OTC spot from EBS and CME FX futures to one screen to identify the optimal time and market to manage your FX risk.

Economic Release Calendar

Plan your FX strategy around potential market moving events.

Market Commentary

View the latest insights on trends in the FX market.

Master the FX market

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.

Explore more courses

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

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