Metals futures · COMEX
MGCMicro Gold
One MGC tick is $0.10 per troy ounce, worth $1 per contract. One point is worth $10.
Contract specifications
| Specification | MGC |
|---|---|
| Contract | Micro Gold |
| Exchange | COMEX |
| Contract size | 10 troy ounces of gold |
| Minimum tick | $0.10 per troy ounce |
| Tick value | $1 |
| Point value | $10 |
One tenth of the standard gold contract: $1 a tick.
Full-size contract: GC - Gold, $10 per tick.
How much room a funded account gives you on MGC
Every Get Funded Now futures account has a 3% maximum drawdown. Divided by MGC's $1 tick, that is how far one contract can move against you before the account is breached. Trading your full position limit divides that room by the number of contracts.
| Account | Max drawdown | Ticks of room, 1 MGC | Max contracts | Ticks of room, max MGC |
|---|---|---|---|---|
| $25,000 | $750 | 750 | 2 | 375 |
| $50,000 | $1,500 | 1,500 | 4 | 375 |
| $75,000 | $2,250 | 2,250 | 5 | 450 |
| $100,000 | $3,000 | 3,000 | 6 | 500 |
| $150,000 | $4,500 | 4,500 | 9 | 500 |
Size a trade from your stop with the futures position size calculator, or see how end-of-day trailing drawdown works.
Specifications are set by the exchange and are published here for reference. Check the futures rules for the instruments available on your account.
Questions
What is the tick value of MGC?
One MGC tick ($0.10 per troy ounce) is worth $1 per contract.
How much is one point on MGC?
A full one-point move is worth $10 per contract.
What does one MGC contract represent?
10 troy ounces of gold, traded on COMEX.
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