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What is a 'lot'?

Lots are used to represent the trade volume in units. One standard Lot on Forex is equal to 100,000 units of the base currency of the pair. So, for EUR/USD 1 lot is 100,000 euros, for USD/JPY 1 lot is 100,000 US Dollars.

Thanks to online brokers, mini and micro-lots are also available to traders.

The table below will help you to understand lot sizes:

Standard Lot (1.0) = 100,000 of base currency

Mini Lot (0.1) = 10,000 of base currency

Micro Lot (0.01) = 1,000 of base currency

For other assets, each ‘Lot’ represents a standard amount, for example, 1 lot of Gold is 100oz. You can find the standard lots for each asset in the FxPro website specifications.

The lot size also determines the value of each pip/tick, which is covered in a separate lesson.

At FxPro all account types allow trade size from 0.01 (micro) and upwards.