NAS100: What It Is and How to Trade the Nasdaq 100

NAS100 is the symbol many brokers use for a CFD on the Nasdaq-100, an index of 100 of the largest non-financial companies listed on Nasdaq, weighted by company size. It is quoted in index points, each worth a fixed amount per lot, and moves most around the New York open, big-company earnings, Federal Reserve decisions and US data.

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Last updated 27 October 2026

NAS100 is the symbol many brokers use for a contract for difference (CFD) on the Nasdaq-100, an index of 100 of the largest non-financial companies listed on the Nasdaq stock market. Trading NAS100 means taking a position on the index rising or falling, settled in cash, without owning any of the 100 shares.

It is quoted in index points, and what each point is worth depends on the contract size your broker sets. Some platforms call the same instrument US100, USTEC or US Tech 100.

This guide explains how the index behind the symbol is built, how it differs from US30, how a NAS100 price is quoted, when it is most active, what moves it, what it costs and how to size and place the trade in MetaTrader 5 (MT5). The usual path is to learn these, practise on an MT5 demo account, then trade live with the same steps. The examples use round numbers; MT5's Specification window shows the contract size, margin and swap for your account.

What is NAS100?

NAS100 is a broker's name for a CFD that tracks the Nasdaq-100 Index (ticker NDX), which Nasdaq designs to measure the performance of 100 of the largest Nasdaq-listed non-financial companies. The 100 in the symbol is the number of companies, and the index is known for its large technology names.

The Nasdaq-100 methodology sets the rules: a company must be primarily listed on a US Nasdaq exchange and must not be classified in the Financial industry, so banks and insurers are left out. Real estate companies can qualify unless they are organised as a REIT.

Like any CFD, a NAS100 position is a contract with your broker, not a holding of shares. You can go long (expecting a rise) or short (expecting a fall). How CFDs work is covered in what is a CFD, and how NAS100 sits next to US30, US500, GER40 and the JSE Top 40 is set out in what are indices.

How is the Nasdaq-100 calculated?

The Nasdaq-100 is weighted by company size (a modified market-capitalisation weighting), so the largest companies move the index most, with caps that stop any one company or group of giants from taking over. A company's influence depends on its total market value, not its share price.

Nasdaq's caps work in two stages. If any company's weight would exceed 24%, weights are adjusted so that none exceeds 20%. Then, if the companies above 4.5% together reach 48% or more, that group is scaled down to 40%. The list is rebuilt each December, when companies are ranked by market value, and weights are rebalanced in March, June and September.

An example of size weighting, at an index level of 25,000:

What happens Company weight Effect on the index
A large company rises 2% 8% 2% × 8% = 0.16% of 25,000 = +40 points
A small company rises 2% 0.3% 2% × 0.3% = 0.006% of 25,000 = +1.5 points
Ten companies holding 45% between them all fall 1% 45% together 1% × 45% = 0.45% of 25,000 = −112.5 points

The same 2% move is worth about 27 times more points in the large company. That is why NAS100 often follows the results and news of a handful of the biggest companies.

How is NAS100 different from US30?

NAS100 tracks 100 companies weighted by market value, with a heavy technology tilt, while US30 tracks 30 blue-chip companies weighted by share price. So NAS100 is driven most by the biggest companies by value, and US30 by the highest-priced shares.

NAS100 US30
Index Nasdaq-100 Dow Jones Industrial Average
Companies 100, Nasdaq-listed, no financials 30 blue chips, all industries except transport and utilities
Weighting By market value, with caps By share price
Who sets the list Rules, rebuilt each December A committee of S&P Dow Jones Indices and The Wall Street Journal
Typical price Tens of thousands of points Tens of thousands of points
Trading hours US session, 9:30 a.m. to 4:00 p.m. New York time, often quoted for longer The same

Both open at the same time and react to the same US data, so traders often watch them side by side. Holding both in the same direction is close to one larger bet on US shares. US30 is covered in its own US30 guide.

How is NAS100 quoted, and what is a point worth?

NAS100 is quoted in index points, and the profit or loss is the number of points the price moves multiplied by the value of one point for your size. The value of a point per lot is set by your broker: some set 1 lot to $1 per point, others to $10 or more.

Profit or loss = points moved × value per point per lot × number of lots, for a buy. For a sell, the sign flips.

Worked example: one NAS100 trade in both directions

The example uses a contract where 1 lot is worth $1 per index point, a NAS100 price of 25,000 and margin of 5% (1:20 leverage). You open 1 lot. The position value is 25,000 × $1 = $25,000, and the margin set aside is 5% of that, $1,250.

NAS100 moves to Points moved Buy 1 lot Sell 1 lot
25,250 +250 +$250 −$250
24,750 −250 −$250 +$250
25,500 +500 +$500 −$500
24,500 −500 −$500 +$500

A 250-point move is 1% of 25,000. With a 2-point spread, 1 lot costs 2 × $1 = $2 to open, so a buy closed at 25,250 nets $250 − $2 = $248. To see the margin for your own size, choose Other in the margin calculator and enter the contract size from your specification.

When does NAS100 trade?

The Nasdaq-100 is calculated during US market hours, 9:30 a.m. to 4:00 p.m. New York time on weekdays, but a NAS100 CFD may be quoted for longer, depending on your broker. The US Securities and Exchange Commission (SEC) gives 9:30 a.m. to 4:00 p.m. Eastern Time as regular trading hours for US stocks.

The US moves its clocks from the second Sunday of March to the first Sunday of November, while the offsets in the table stay fixed. So the regular session moves by an hour in local time twice a year:

US clocks 9:30 a.m. to 4:00 p.m. ET in UTC UTC+1 (West and Central Africa) UTC+2 (Southern Africa) UTC+7 (mainland Southeast Asia) UTC+8 (maritime Southeast Asia and East Asia)
Daylight time (March to early November) 13:30 to 20:00 14:30 to 21:00 15:30 to 22:00 20:30 to 03:00 21:30 to 04:00
Standard time (early November to March) 14:30 to 21:00 15:30 to 22:00 16:30 to 23:00 21:30 to 04:00 22:30 to 05:00

The first minutes after the open are usually the most active, as overnight orders and news are priced in at once. Outside regular hours many brokers keep quoting NAS100 with thinner trading and wider spreads, and the price at the open can gap away from the previous close. A stop loss in a gap fills at the first available price, as slippage and gaps explains. The Specification window in MT5 lists the quoting and trading sessions for each day.

What moves the NAS100 price?

NAS100 moves with the share prices of its largest companies, so earnings from those companies, Federal Reserve interest rate decisions, US inflation and jobs data, and the general appetite for risk move it most. The table sets out how each one works and where the academy covers it.

Driver Why it can move NAS100 Where to learn more
Big-company earnings The largest companies carry the most weight, so their results and guidance can move the whole index How earnings reports affect stock prices
Federal Reserve decisions Interest rates change how investors value future profits, which matters most for companies valued on growth. The FOMC holds eight scheduled meetings a year Monetary policy and currencies
US data Inflation (CPI) and jobs (NFP) reports come out at 8:30 a.m. New York time, an hour before the open, and change expectations for rates Major economic releases
Risk mood In a broad sell-off, growth and technology shares often fall together; in calm markets they can lead the rise Risk-on and risk-off
Index changes The December rebuild and quarterly rebalances change which companies count and how much Nasdaq-100 methodology

Prices react to the gap between what was expected and what was announced. A strong result that was already expected can still be followed by a fall.

What does it cost to trade NAS100?

Trading NAS100 as a CFD usually costs the spread on every trade, an overnight financing charge (swap) for each night a position stays open, and a cash adjustment when an index company pays a dividend. Some accounts also charge commission.

Cost How it works Example
Spread The gap between the buy and sell price, paid when you open A 2-point spread on 1 lot at $1 per point costs $2
Swap A daily financing charge or credit for holding overnight, set per lot for long and short positions At −$3.00 per lot per night, 1 lot held for four nights costs 4 × $3 = $12
Dividend adjustment When an index company goes ex-dividend, its share price drops and the index with it; brokers usually credit long positions and debit short ones to offset this Shown in your account statement
Commission Charged on some accounts Shown in your account terms

The Australian Securities and Investments Commission (ASIC) describes the dividend adjustment: a buyer of a CFD is credited an amount that mirrors the dividend, and a seller is debited a similar amount. How spreads and swap are worked out in general is covered in spread, commission and swap.

How do you trade and size NAS100 on MT5?

To trade NAS100 on MT5, add the symbol to Market Watch, read its Specification, work out your size from the money at risk, press F9, enter the volume, stop loss and take profit, then click Buy or Sell. The open position then appears in the Trade tab of the Toolbox.

  1. Add the symbol. Right-click Market Watch, choose Symbols, search for NAS100 (or US100, USTEC or US Tech) and click Show.
  2. Read the specification. Right-click and choose Specification for the contract size, tick value, swap and sessions, as the MT5 Market Watch help describes.
  3. Work out the size. Lots = money at risk ÷ (stop distance in points × value per point per lot).
  4. Open the order. Press F9, enter the volume, stop loss and take profit, and click Buy or Sell, as the MT5 help on executing trades describes.
  5. Manage and close. The Trade tab of the Toolbox shows the running result; right-click to modify, or double-click and press Close.

Sizing example: a $5,000 account, 1% risk per trade ($50), a contract worth $1 per point per lot and a stop loss 125 points from the entry. The size is $50 ÷ (125 × $1) = 0.4 lot. With a take profit 250 points away:

On a contract worth $10 per point per lot, the same plan is $50 ÷ (125 × $10) = 0.04 lot, with the same $50 and $100 results. The method is set out in position sizing, and the full first-trade walkthrough is in place your first trade on MT5.

Try it on demo

On an MT5 demo account, open the NAS100 specification and write down the contract size, tick value, swap long and short and the sessions. Put NAS100 and US30 side by side on a 5-minute chart and watch both through the New York open. Then open the smallest NAS100 position with a stop loss and take profit, close it, and check that the result matches points moved × your value per point.

Frequently asked questions

What does NAS100 stand for?

NAS100 stands for the 100 companies in the Nasdaq-100 Index. It is a broker's symbol for a CFD on that index, not an exchange ticker, so some platforms call it US100, USTEC or US Tech 100.

Is NAS100 the same as the Nasdaq?

NAS100 tracks the Nasdaq-100, the 100 largest non-financial companies on Nasdaq. That is narrower than the Nasdaq Composite, a broader index of Nasdaq-listed shares. NAS100 is a CFD on the index, so the spread, hours and contract size are set by your broker.

How much is 1 point on NAS100 worth?

It depends on your broker's contract size. On a contract where 1 lot is $1 per point, a 100-point move on 1 lot is $100; on a $10-per-point contract it is $1,000. Check the tick value in the symbol's specification.

What time does NAS100 open?

The regular session opens at 9:30 a.m. New York time: 13:30 UTC while the US is on daylight time, which is 15:30 at UTC+2 and 21:30 at UTC+8, and an hour later from early November to March. Many brokers quote NAS100 for longer, so check the sessions in your specification.

Why does NAS100 move more than US30?

NAS100 is weighted towards large technology and growth companies, whose shares tend to react more to earnings and interest-rate news, so its percentage moves are often larger. US30 is weighted by share price across 30 blue chips from most industries.

Sources

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