What Are 6L Futures? Understanding the Brazilian Real Contract
6L futures are the CME’s futures contract for the Brazilian Real, and they move differently than the major FX contracts like 6E or 6J. If you want to trade an emerging-market currency with heavier swings, thinner liquidity, and higher sensitivity to interest rates and commodities, 6L is where that action lives.
Why Traders Care About 6L
The Brazilian Real reacts hard to interest rate policy, capital flows, and commodity prices. That means it trends well when the macro picture is clear and chops violently when it’s not. Beginners trade 6L because the moves look big. Pros trade it because those big moves are driven by identifiable catalysts.
For reference on how majors behave, check out what roll yield means in currency futures and how FX futures function structurally.
Contract Specs You Actually Need
Here’s the relevant breakdown. Ignore everything else.
| Spec | Value |
|---|---|
| Contract Symbol | 6L |
| Underlying | Brazilian Real (BRL) per USD |
| Contract Size | 100,000 Brazilian Reals |
| Tick Size | 0.00005 BRL |
| Tick Value | $5.00 per tick |
| Exchange | CME |
The $5 tick value is what catches beginners off guard. It’s small enough to pull you in but adds up quickly when volatility spikes — and 6L spikes a lot.
How 6L Trades in the Real World
6L doesn’t trade like 6E. It behaves like the environment it represents: an emerging market that’s heavily tied to interest rate policy and commodity exports. If Brazil cuts rates aggressively, 6L usually weakens. If global risk appetite spikes, 6L strengthens. If commodities pump, 6L tends to follow.
Who Should Trade 6L
If you’re new, 6L is only manageable if you respect volatility. It’s faster, thinner, and more reactive than majors. If you can’t follow macro catalysts or you hate sudden spikes, skip it. If you want fast-moving FX with predictable drivers, 6L works — but only if you manage risk properly.
Final Thoughts
The bottom line: 6L futures give you exposure to the Brazilian Real with clean CME execution, a simple $5 tick value, and enough volatility to matter. If you understand why the Real moves, you can trade 6L without getting blindsided. If you don’t, it will punish you fast.