Lot

A lot is the standard unit of trade size in forex. One standard lot is 100,000 units of the base currency; a mini lot is 10,000; and a micro lot is 1,000. In MT4 you set the size in lots in the order window — 0.01 lots is one micro lot.

Smaller lot sizes let you trade tiny positions and keep risk small while learning. The right size depends on your account and how much you’re willing to risk per trade.

Use our lot size calculator to size a position from your risk, and the pip calculator to value each pip.