E-mini futures currency is so unique that it is basically 1/10th of the size of standard foreign exchange futures. These forex future currencies provide you access to currency markets through futures trading.
E-micro forex futures are transparent, regulated markets with centralized global pricing and clearing. The E-micro GBP/USD futures contract is the E-micro version of its larger counterpart, British pound futures. These E-micro futures contracts have proven to be extremely popular and flexible.
Micro E-mini contracts have been launched by the CME group in 2019 for their four major indices. These mini contracts provide the market participants to gain exposure to price fluctuations for these major indices at a cost lower than existing e-mini futures.
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Why should you trade E-micro GBP/USD (M6B) currency futures?
Following are some of the reasons that why should you trade these E-micro GBP/USD currency futures-
- These E-micro GBP/USD currency futures require much less financial commitment than full-size British pound currency futures.
- It is a great starting point for forex traders to gain exposure to GBP/USD foreign exchange market with less capital.
- The new trader with a lower capital balance will be able to secure more E-micro currency futures than full-size 6B contracts.
- It provides the flexibility to scale in and out of Micro 6B position with various contracts.
- It offers the traders many short and long trading opportunities for GBP/USD Foreign exchange rates.
- It provides the traders with less financial burden and less capital margin requirements.
- It also provides you access to these E-micro GBP/USD currency futures virtually around the clock electronically and attracts traders from around the globe.
How do these E-mini futures contracts work?
E-micro currency futures were launched in the 1990s when the values of major forex indices got too large and bulky for an average trader.
These currency contracts allow the traders to buy or sell any financial index today which are to be settled at a future date. These E-micro contracts are 1/10th size of major contracts reducing the cost of the trade also to the 1/10th of the main cost providing flexibility to the small traders to trade with various contracts.
E-micro GBP/USD (M6B) Futures Contract characteristics:
- Exchange: Chicago Mercantile Exchange (CME)
- Class: Futures currency
- Trading Symbol: M6B
- Contract Size: 6,250 British pounds
- Pricing Unit: U.S. Dollars
- Tick Size: 0.0001
- Tick Value: $6.25
- Point Value: 1 = $62,500
- Average Daily Volume: 3,645 (Year to Date March 2019)
- Intraday Margin: $50
- Contract Months: March, June, September & December
- Trading Hours: Sunday to Friday 6:00 pm – 5:00 pm ET
- Position Limit: 10 contracts
Some brokers websites allow trade of E-Micro futures contracts
Following are some of the broker website that allows you to trade these E-micro futures contracts-
- E-trade
2. Interactive brokers
http://www.interactivebrokers.com/
3. Ninja trader
4. Tasty works
5. Trade station
