Foreign exchange futures provide access to the currency markets through futures trading. Also known as FX futures, the underlying commodities of these contracts are forex markets.
E-micro currency futures are unique in that they are 1/10th the size of standard forex futures. The E-micro GBP/USD futures contract (M6B) is the E-micro version of its larger size counterpart, British Pound futures (6B). M6B futures shadow the movements of the full-size contract but have their own set of specifications.
Traded exclusively on the Chicago Mercantile Exchange, E-micro FX futures are transparent, regulated markets with centralized pricing and clearing.
Why Trade E-micro EUR/USD (M6B) Futures?
The E-micro GBP/USD futures require less of a financial commitment than full size British Pound futures. Therefore, the M6B is a great starting point for traders to gain exposure to the GBP/USD foreign exchange market with less capital.
Additionally, while a new trader with a lower account balance may only be able to trade one contract of 6B, the E-Micro provides that same new trader with the flexibility to scale in & out of an M6B position with several contracts.
M6B futures offer investors both long and short opportunities to trade GBP/USD foreign exchange rate. E-micro FX futures like M6B empower traders to access the forex markets without a large financial burden or margin requirement.
E-micro GBP/USD futures also trade virtually around the clock electronically and attract traders from across the globe.
E-micro GBP/USD (M6B) Futures Contract Specs:
- Exchange: Chicago Mercantile Exchange (CME)
- Class: Futures
- 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
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