Spot-Quoted Futures
A new way to trade index and crypto markets with pricing that follows the live market.
Clearer pricing. Fewer rollovers. Stay closer to real market moves.
What are Spot-Quoted Futures?
A different way to trade futures
Spot-Quoted Futures are exchange-traded futures contracts listed on the CME, one of the most well-known exchanges, which reference the current market, or spot price.
Instead of trading at a traditional futures price that can sit above or below the underlying market, Spot-Quoted Futures are quoted to reflect what you see in the live market price - like the levels you’d see on charting platforms or price feeds.
A daily financing adjustment is applied in the background, to reduce the usual gap between futures pricing and the underlying market. The daily adjustment may result in either a credit or debit, depending on market conditions and position direction.
For traders, that means you can trade popular indices and crypto in a way that feels more direct, with pricing that stays close to the live market, making it easier to follow and compare.
Why trade Spot-Quoted Futures?
Pricing that’s easier to follow
Prices stay closer to the market you’re watching, reducing the usual gap seen in futures pricing and making moves easier to interpret.
Fewer rollovers to manage
Longer-dated contracts reduce the need to frequently roll positions forward.
Trade with less capital
Trade futures with smaller contract sizes, giving you more flexibility to scale positions and manage your market exposure.
Exchange-traded structure
Access indices and crypto through an exchange-traded futures product, with transparent pricing and defined contract terms.
Trading Spot-Quoted Futures involves substantial risk of loss and is not suitable for all investors. Futures prices may not track spot prices exactly, and market volatility may result in significant losses, including losses exceeding deposited funds.
Trade leading index and crypto markets
Access some of the world’s most widely followed index and crypto markets through Spot-Quoted Futures:
Index SQF markets
S&P 500 (QSPX)
Track the performance of the world’s most widely followed equity index.
Nasdaq-100 (QNDX)
Trade price movements in leading technology and growth stocks.
Russell 2000 (QRTY)
Access US small-cap market exposure.
Crypto SQF markets
Bitcoin (QBTC)
Trade Bitcoin price moves with an exchange-traded structure.
Ethereum (QETH)
Take positions on one of the most actively traded digital assets.
All markets are traded using the same transparent, commission-based pricing. See full costs below.
Contract details and trading conditions are available within the platform.
Clear, commission-based pricing
Spot-Quoted Futures use a commission-based pricing model.
Each trade is charged a fixed commission, so your costs are transparent and separate from the market price.
If you hold a position overnight, a daily financing adjustment is applied as part of the futures contract structure. This reflects the cost of maintaining the position over time.
For intraday trades, this adjustment generally has little or no impact. See full financing adjustment data on the CME.
Commission:
$1.1 per contract, per side
Margin requirements
To open a position, you’ll need to meet the margin requirement for each contract.
Spot-Quoted Futures use smaller contract sizes, making them more accessible than many traditional futures, while still offering exchange-traded exposure.
Compare Spot-Quoted Futures with other markets
See how Spot-Quoted Futures compare with traditional futures and CFDs
| Feature | Spot-Quoted Futures | Traditional Futures | CFDs |
|---|---|---|---|
| Pricing model | Quoted in line with the underlying market level | Quoted as a futures price, which can be above / below underlying market | Quoted in line with the underlying market price, with spreads applied |
| Clarity to act | Generally straightforward to interpret relative to the underlying market | Requires understanding of futures pricing and basis | Generally straightforward to interpret with pricing aligned to the underlying market |
| Leverage | Approx 1:20 to 1:50 | Approx 1:10 to 1:20* | Up to 1:30 for retail clients |
| Rollovers | Less frequent | Regular (monthly/quarterly) | No fixed expiry. Overnight fees apply when positions are held |
| Accessibility | Lower starting capital requirements | Higher capital required to open and maintain positions | Lower capital requirements and flexible position sizing |
* Implied leverage may vary significantly depending on the contract, margin requirements and market conditions, and may change.
How Spot-Quoted Futures work
See how Spot-Quoted Futures compare with traditional futures and CFDs
When you place a trade, you’re trading at a price that reflects the current market level.
Behind the scenes, the contract is still structured as a futures product. That means a financing adjustment is automatically applied as part of how the position is maintained.
In simple terms:
- You trade at a price that matches what you see in the market
- The futures mechanics are handled in the background
This setup gives you a more direct view of the market compared to traditional futures, so the price you trade is easier to compare with what you see elsewhere.
- If you open and close a position within the same day, this has little impact on your result.
- If you hold a position overnight, changes in the financing adjustment can affect your P&L.
Who Spot-Quoted Futures are for
Newer futures traders
A more straightforward way to follow futures pricing, with quotes aligned to the market you’re watching.
Experienced traders
A structure designed to reduce pricing distortion, making market moves easier to interpret and quickly act on.
Short-term traders
Trade intraday movements with pricing that stays close to the live market.
Position traders
Reduce the need for frequent rollovers, while managing overnight exposure.
Why trade Spot-Quoted Futures with Tickmill?
Trade an innovation on the traditional futures product, in an environment designed for active traders.
Transparent, commission-based pricing
Demo account available to explore the product
Access to exchange-traded futures markets
Start trading Spot-Quoted Futures with Tickmill
Open a live account to trade with pricing aligned to the market, or start with a demo to see how the product works in real conditions.
Open your accountFAQs
Spot-Quoted Futures are futures priced close to the underlying spot market, making charts and market movements easier to follow and compare.
Unlike traditional futures, Spot-Quoted Futures are quoted in line with the live market price, making price movements easier to follow and compare with charts and market feeds.
You can trade Spot-Quoted Futures on major equity indices like the S&P 500, Nasdaq-100 and Russell 2000, as well as cryptocurrencies such as Bitcoin and Ether.
Yes, SQFs are designed specifically for active traders, with smaller contract sizes, direct index pricing and fewer rollovers than traditional futures.