WHAT ARE LOTS / LOT SIZE?
Lots refer to the specific units traded with currency pairs, which essentially means the number of currency units you wish to buy or sell. There are 3 types of lots:
- Micro Lot size = 0.01 = Controls 1,000 units of currency
- Mini lot size = 0.10 = Controls 10,000 units of currency
- Standard Lot size = 1.00 lot = Controls 100,000 units of currency