What Are Micro Canadian Dollar Futures?
Micro Canadian Dollar Futures (MCD) are a smaller-sized version of standard Canadian Dollar Futures contracts. These contracts provide traders with exposure to the Canadian Dollar (CAD) currency market with reduced financial commitment. They are ideal for retail traders looking to hedge currency exposure or speculate on movements in the CAD/USD exchange rate.
Contract Size
- Contract Size: 10,000 Canadian Dollars (CAD).
Trading Hours
The Micro Canadian Dollar Futures contract trades nearly 24 hours a day, five days a week, providing consistent access to the global forex 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: 0.0001 per CAD.
- Tick Value: $1.00 per tick.
- Minimum Price Fluctuation: 0.0001 per CAD.
This makes Micro Canadian Dollar Futures an excellent choice for precision trading in the forex market with smaller financial exposure.
Trading Symbol
- Platform Symbol: MCD
Margins
To trade Micro Canadian Dollar 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 Canadian Dollar Futures?
- Accessibility: Lower margins and smaller contract size make MCD accessible to retail traders.
- Flexibility: Manage risk with smaller contract sizes compared to standard currency futures.
- Liquidity: Benefit from consistent liquidity in the forex futures market.
- Diversification: Add exposure to the Canadian Dollar as part of a broader trading strategy.
Start Trading MCD with Ironbeam
Ironbeam provides a robust trading platform and API to help you access Micro Canadian Dollar 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.