When starting out in futures trading, the sheer number of available contracts can be overwhelming. However, not all futures are created equal—some offer better liquidity, tighter spreads, lower volatility, or more favorable hours for beginners.In this guide, we’ll break down five of the most accessible and actively traded futures contracts ideal for newer traders.
Table of Contents
- Why Focus on These 5 Futures Contracts?
- E-mini S&P 500 (ES)
- Micro E-mini Nasdaq (MNQ)
- Crude Oil (CL)
- Gold (GC)
- Euro FX (6E)
- Final Thoughts
1. Why Focus on These 5 Futures Contracts?
These contracts are ideal for new traders because they offer:
- High Liquidity: Easy to enter and exit positions.
- Tight Spreads: Lower trading costs.
- Volatility: Enough price movement to present trade opportunities.
- Manageable Risk: Especially with mini and micro contract sizes.
- Wide Market Hours: Most trade nearly 24 hours, five days a week.
Let’s dive into each contract.
2. E-mini S&P 500 (ES)
Symbol: ES
Exchange: CME
Underlying Asset: S&P 500 Index
Contract Size: $50 x the index
Tick Size: 0.25 = $12.50
The ES is arguably the most traded equity index future in the world. It tracks the S&P 500, which represents 500 of the largest U.S. companies.
Why It’s Great for Beginners:
- Extremely high liquidity
- Tight bid/ask spreads
- Strong correlation with broader market sentiment
Watch Out For:
- Larger contract size may be risky without sufficient capital
3. Micro E-mini Nasdaq-100 (MNQ)
Symbol: MNQ
Exchange: CME
Underlying Asset: Nasdaq-100 Index
Contract Size: $2 x the index
Tick Size: 0.25 = $0.50
MNQ is the micro version of the NQ (E-mini Nasdaq), offering exposure to the 100 largest non-financial companies on the Nasdaq.
Why It’s Great for Beginners:
- Smaller contract size means lower risk
- High tech exposure (Apple, Amazon, Microsoft)
- Volatility provides strong intraday trading opportunities
Watch Out For:
- Smaller tick value means you need larger moves for big profits
4. Crude Oil (CL)
Symbol: CL
Exchange: NYMEX
Underlying Asset: West Texas Intermediate (WTI) crude oil
Contract Size: 1,000 barrels
Tick Size: $0.01 = $10
Crude oil is one of the most liquid commodity futures, known for its volatility and global economic impact.
Why It’s Great for Beginners:
- Strong price movements = trade setups
- News-driven volatility creates daily action
- Heavily followed, with lots of educational material
Watch Out For:
- High volatility can lead to fast losses
- Requires strong risk management
5. Gold (GC)
Symbol: GC
Exchange: COMEX
Underlying Asset: Gold (100 troy ounces)
Contract Size: 100 oz
Tick Size: $0.10 = $10
Gold has been a safe haven asset for centuries. As a futures product, it offers solid volume and consistent market reactions to inflation, interest rate news, and geopolitical tension.
Why It’s Great for Beginners:
- Strong technical levels respected
- High liquidity
- Global news influences price
Watch Out For:
- Sudden moves during economic announcements
6. Euro FX (6E)
Symbol: 6E
Exchange: CME
Underlying Asset: Euro vs. U.S. Dollar
Contract Size: 125,000 Euros
Tick Size: 0.0001 = $12.50
The Euro FX contract tracks the EUR/USD currency pair, making it attractive for forex-style trading but with the structure and transparency of a futures contract.
Why It’s Great for Beginners:
- Currency-based contract with wide coverage
- Good liquidity and extended market hours
Watch Out For:
- Sensitive to central bank policy and news releases
7. Final Thoughts
These five futures contracts represent an excellent starting point for new traders. They combine accessibility with trade potential, offering a solid foundation to practice and refine your trading strategies.
At Pilot Traders, we help you develop the discipline, tools, and mindset to master these markets with confidence. With our institutional-grade indicators, community, and education, your path to consistent trading starts here.
