What Are Micro Crude Oil Futures?
Micro Crude Oil Futures (MCL) are a smaller-sized version of standard Crude Oil Futures contracts, providing traders with exposure to the energy market at a fraction of the size and financial commitment. These contracts allow retail traders to speculate on the price of crude oil while managing risk more effectively.
Contract Size
- Contract Size: 100 barrels of crude oil.
Trading Hours
The Micro Crude Oil Futures contract trades nearly 24 hours a day, five days a week, providing consistent access to the global oil market.
- Trading Hours: Sunday to Friday, 5:00 PM to 4:00 PM CT (with a 1-hour daily trading halt from 4:00 PM to 5:00 PM CT).
- Time Zone: Central Time (CT).
Tick Value and Increment
- Tick Size: $0.01 per barrel.
- Tick Value: $1.00 per tick.
- Minimum Price Fluctuation: $0.01 per barrel.
This makes Micro Crude Oil Futures an excellent choice for precision trading in the energy market with smaller financial exposure.
Trading Symbol
- Platform Symbol: MCL
Margins
To trade Micro Crude Oil Futures, you’ll need to meet specific margin requirements. Check out Ironbeam’s Margins Page for the latest margin rates and details.
Why Trade Micro Crude Oil Futures?
- Accessibility: Lower margins and smaller contract size make MCL accessible to retail traders.
- Flexibility: Manage risk with smaller contract sizes compared to standard Crude Oil Futures.
- Liquidity: Benefit from consistent liquidity in the global energy markets.
- Diversification: Add exposure to the energy market as part of your broader trading strategy.
Start Trading MCL with Ironbeam
Ironbeam provides a robust trading platform and API to help you access Micro Crude Oil Futures with ease. Trade confidently with free real-time Level 2 market data and personal broker support.
DISCLAIMER: There is a substantial risk of loss in trading commodity futures and options products. Losses in excess of your initial investment may occur. Past performance is not necessarily indicative of future results. Please contact your account representative with concerns or questions.