What is mini index (WIN) and why does it attract day trade newcomers?

The Mini Ibovespa Futures Contract, also known as mini index (WIN), is the most traded product among day traders and is the go-to port of entry for wider futures contract trading.

Liquidity is one of the motives behind this adhesion to mini index. According to data from the Futures Industry Association (FIA), the global organization for the trading of futures, options and derivatives, B3 traded the largest number of futures contracts among the world’s exchanges in January 2026, and mini index was the most-traded futures contract on the Brazilian exchange.

Liquidity is the capacity of an asset to be quickly converted into cash with no significant loss of value.  Liquid assets can be sold rapidly at a price close to the market value of the moment.

Leonardo Santana, an investment specialist and partner at the Top Gain market analysis organization, explains that mini index is heavily traded by both institutional investors and individual investors, who can adopt strategies such as portfolio hedging, arbitrage and short-term trading. According to B3 data, there are currently more than 140,000 investors per month trading the asset.

Another factor attracting new investors is the price of the asset. “Mini index is an excellent port of entry for newcomers to the financial market because it is a cheap assert, which allows anyone to invest in it”, says Santana. At present, the minimum margin for mini index trading is BRL 155.

The third and final point is volatility, which is the intensity and frequency at which the asset varies in a determined period. “A volatile market fits in well with different day trade techniques. Mini index changes alongside equities, but it is also significantly influenced by macroeconomic decisions,” adds the expert.

What is mini index (WIN)?

Mini index is a futures contract that tracks the performance of the B3 Ibovespa index, which is the main reference point for the Brazilian equities market and which is comprised of the most liquid shares at B3. 

This lower price version of the Ibovespa futures contract allows investors to create positions with less capital.

These contracts are widely used for stock portfolio hedging. Trading occurs in smaller lots: the mini index point value is BRL 0.20, while for the full-sized contract (Ibovespa) it is BRL 1.00.