Trade ES
E-mini S&P 500 Futures
The futures contract behind the world's most traded index, available as a CFD on MT5.
Price Chart
Specifications
About E-mini S&P 500 Futures (ES)
ES follows the E-mini S&P 500 futures contract. Futures pricing runs nearly 23 hours a day on weekdays, so ES reacts to news while the US cash market is closed. Futures can trade above or below the cash index because the price carries the market's view on interest rates and dividends. On StoicMarkets you trade ES as a CFD. One lot represents 50 times the index price, and positions start at 0.01 lots.
Key Price Drivers
- S&P 500 direction, earnings seasons, and index heavyweights
- Federal Reserve policy and US interest rates
- News that lands outside US cash market hours
- The futures basis: the gap between futures and cash pricing
Peak Trading Hours
ES trades nearly around the clock on weekdays. Volume concentrates while the US cash market is open.
US cash session (16:30–23:00 server time)
Liquidity thins between the US close and the Asian session. Spreads can widen in that window.
Trading Considerations for ES
Know What the Price Represents
ES follows futures pricing, not the cash index. The two move together, but the futures price includes the market's view on rates and dividends, so the level differs from US500.
Use the Long Session
ES trades from 01:00 to 23:59 server time. That covers Asian and European hours, when the US cash market is closed. Reactions to overnight news show up here first.
Size From the Contract, Not the Symbol
One lot is 50 times the index price. At an index level of 7,500 that is a 375,000 USD position. The 0.01 minimum keeps the entry size manageable, but check the numbers before you trade.
Watch the Thin Hours
Volume concentrates around the US cash open and close. Liquidity thins between the US close and the Asian session, and spreads can widen there.
Key terms
Frequently Asked Questions
What is the ES futures contract?
ES is the E-mini S&P 500 futures contract. It tracks the S&P 500 index through futures pricing. On StoicMarkets you trade ES as a CFD, so you trade the price movement without holding the futures contract itself.
What is the difference between ES and US500?
US500 follows the S&P 500 cash index. ES follows the futures contract. They move together, but the futures price carries the market's view on interest rates and dividends, so the two levels differ. Futures pricing also leads the cash index when the US market is closed.
How much is one lot of ES?
One lot is 50 times the index price. At an index level of 7,500, one lot controls a position of 375,000 USD. The minimum trade is 0.01 lots, which is 0.5 times the index price.
What leverage is available on ES?
Up to 1:100, subject to your account settings. Leverage amplifies losses as well as gains, so size positions with that in mind.
When can I trade ES?
Monday to Friday, 01:00 to 23:59 server time. That is nearly 23 hours a day, including the Asian and European sessions when the US cash market is closed.
Can I short ES?
Yes. CFDs work in both directions. Selling ES profits if the futures price falls, before costs.
Why trade ES instead of a cash index CFD?
The main reasons are the longer session and futures pricing. ES reacts to overnight and pre-market news in real time. Traders who follow US index moves outside cash hours often prefer the futures contract for that reason.
Do I receive dividends on ES?
No. Futures pricing already reflects expected dividends, so there are no separate dividend adjustments on ES positions.
Start Trading ES
Open a live account or practice risk-free on demo.
CFDs are complex instruments and carry a high risk of rapid capital loss due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.