the lot is the volume you are placing the trade in. for currencies generally 1 lot is 100000 units.
Depending on what, I could have my trade size classified as either 1 standard FX lot size or 10 mini-sized lots?There are 3 types of lots - Standard lot is of 1,00,000 units, micro lot is of 1,000 units and mini lots is of 10,000 units. Traders need to understand the lot size of currency pairs in detail before placing a trade. There are different lot sizes for Forex, indices and commodities.
Both ways it will be 100,000 units of the currency.Depending on what, I could have my trade size classified as either 1 standard FX lot size or 10 mini-sized lots?
There are 3 types of lots - Standard lot is of 1,00,000 units, micro lot is of 1,000 units and mini lots is of 10,000 units.Let's review our forex basics, best answers wanted. What is a lot in forex?
It doesn't really matter which in this case. It's simpler to say 1 standard lot than 10 mini lots - mini lots exist so that you can trade with smaller amounts. At the same time not all platforms offer all lot sizes.Depending on what, I could have my trade size classified as either 1 standard FX lot size or 10 mini-sized lots?
CorrectThere are 3 types of lots - Standard lot is of 1,00,000 units, micro lot is of 1,000 units and mini lots is of 10,000 units.
Good explanation I always find it hard to explain these without going around in circlesThere are 3 types of lots - Standard lot is of 1,00,000 units, micro lot is of 1,000 units and mini lots is of 10,000 units. Traders need to understand the lot size of currency pairs in detail before placing a trade. There are different lot sizes for Forex, indices and commodities.