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Lots (Standard Lot, Mini Lot, Super-Mini/Micro Lots)

Submitted by admin on Sun, 07/12/2008 - 5:25am.

A lot is a standard size contract. It is typically equal to 100,000 units of the base currency you are buying or selling. For example if you are buying 1 lot of EURUSD then you are gaining control over 100,000 Eurodollars.

Note: With some brokers 1 lot is always 100,000 units of your deposit currency (typically USD), so in the above example your would take $100,000 USD to buy the equivalent amount of EUR. Check with you broker to be sure.

Also popular with retail traders are mini-lots (0.1 standard lots or 10,000 currency units) and micro-lots (0.01 standard lots or 1,000 currency units. Micro lots are sometimes called "super-mini" lots.

Note that typically mini-lots and super-mini lots are NOT offered on No Dealing Desk accounts.