So, you’re thinking about trading gold on TopStep. Awesome! But now you’re asking yourself: Should I trade MGC or GC? Both are gold futures. But they come with different risks, rewards, and sizes. Let’s break it down in a fun, easy way. Because yes—trading can actually be fun!
TL;DR
MGC is the smaller, less risky “mini” gold futures contract. GC is the full-size version and packs a much bigger punch. If you’re starting out or like smaller swings, MGC is your buddy. If you’re confident and want more action, GC might be a better fit.
What is GC?
GC is the ticker symbol for the full-sized gold futures contract traded on the CME (Chicago Mercantile Exchange). It’s big, fast, and moves with power. One contract of GC controls 100 ounces of gold. That’s a lot of shiny metal!
So how much does each tick cost? Well, each tick on GC is worth $10. Gold moves in 0.1 increments, so you could be up or down $10 in a blink.
- Ticker: GC
- Size: 100 oz of gold
- Tick value: $10
- Margin requirement on TopStep: Higher
GC is like driving a race car—lightning fast and thrilling. But you better know how to handle the curves.
What is MGC?
MGC stands for Micro Gold Futures. Just like GC, it’s traded on CME. But instead of 100 ounces of gold, MGC controls only 10 ounces. That’s just 1/10th the size of GC!
- Ticker: MGC
- Size: 10 oz of gold
- Tick value: $1
- Margin requirement on TopStep: Lower
In simple terms, MGC is like riding a mountain bike. Still fun, still exciting, but way easier to control compared to a race car.
Why This Matters on TopStep
TopStep is a funded trading program. You prove yourself in a simulated account. Then, if you pass, they give you real money to trade.
But there are rules. Oh yes. And breaking the rules means you fail the challenge or lose funding. That’s where MGC and GC matter. Their size and risk levels affect your ability to follow the rules.
Let’s talk about buying power
TopStep limits the contracts you can trade based on your account size. They also care about your max daily loss. Since GC is a giant, it eats up your buying power fast.
MGC, being smaller, gives you more flexibility. You can practice, learn, and make some mistakes without getting kicked out of the combine (that’s TopStep-speak for your tryout).
Use Case: Who Should Trade GC?
Let’s say you’ve traded for years. You’ve mastered discipline. You cut losses fast and ride your winners. You also don’t freak out when you’re down $100 in 10 seconds.
If that sounds like you, GC might be right. The profits are bigger. But so are the screwups. One mistake can wipe out your entire day’s risk limit.
GC is great if:
- You’re a seasoned trader
- You manage risk very tightly
- You’re trading on a higher combine level (like $150K+)
- You’re confident with gold volatility
In short: high risk, high reward.
Use Case: Who Should Trade MGC?
Newer traders often make small errors. You might hold too long or get in too early. With GC, those mistakes hurt—a lot. With MGC? Not so much.
MGC is like gold’s little brother. Low stress. Easier fills. Smaller losses and less pressure. Perfect for learning and building skill inside TopStep’s rules.
MGC works best if:
- You’re still learning
- You want to test strategies
- You hate big drawdowns
- You’re in a smaller combine (like $50K or $100K)
With MGC, you can take several trades a day without blowing your limits. That’s incredibly valuable inside TopStep’s evaluation.
Real-Life Comparison Example
Let’s say gold moves up by 5 points (not unusual).
- GC: 5 points × $10 = $50 profit or loss
- MGC: 5 points × $1 = $5 profit or loss
Huge difference! So one bad call on GC can cost you the same as 10 bad calls on MGC. Think about that next time you get trigger-happy.
What Do Pros Recommend?
Many experienced traders will tell you to start small. Why? Because it’s not about the profits at first. It’s about learning to stay in the game.
If you trade GC because you think it’s cooler or more “impressive,” your ego might onboard a pain train fast. Win the game slowly. Build consistency. Move to GC later.
Quotes we love:
- “Trade to trade well—not to make money.”
- “Survive first. Thrive second.”
MGC lets you follow this advice with a lot less pressure. GC puts the pressure on fast and heavy.
Let’s Talk Liquidity and Slippage
One thing new traders forget? Liquidity. GC has more volume. It’s traded by institutions, hedge funds, and big dogs. So getting in and out is faster and smoother.
MGC has enough volume for retail traders—but it can get choppy at weird hours.
Bottom line: GC = more volume. MGC = still okay for most. But be smart during low-volume times like late evenings.
Final Thoughts: Pick Your Fighter
Imagine you’re in a video game. You need to pick your character. Do you choose the fast but risky warrior (GC)? Or the balanced and safer knight (MGC)?
There’s no right answer, only the right one for you.
Here’s a checklist:
- New to TopStep or gold trading? ➜ Start with MGC
- Trading on a $150K+ combine? ➜ Consider GC
- Bad at handling losses? ➜ Stick with MGC
- Seasoned risk-taker? ➜ Try GC
Conclusion
Whether you trade GC or MGC on TopStep comes down to your skill, experience, and risk tolerance. GC is big, bold, and fast. MGC is chill, slow, and forgiving.
Start where you’re comfortable, and grow from there. Just remember: in trading, staying alive is half the game. And if MGC helps you do that longer? It’s a win in our book.
