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Currency pairs are traded in “lots”, which represents the amount of the currency pair that you are buying or selling. The three most common types of lots are the standard, the mini and the micro. One standard lot is equal to 100,000 units of the base currency, which means 1 lot of EURUSD would be equal to 100,000 euros. One mini lot is 10,000 units of the base currency, which would mean that 1 mini lot of GBPUSD would be equal 10,000 British pounds. Finally, 1 micro lot is equal to 1,000 units of the base currency in your currency pair. 1 micro lot of USDJPY is equal to 1,000 US Dollars.
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Disclaimer: The content in this video comprises personal opinions and ideas and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability as to any loss arising from any investment based on the same.
Risk Warning: There is a high level of risk involved with trading leveraged products such as forex and CFDs. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. When trading, you must always take into consideration your level of experience. If the risks involved seem unclear to you, please seek independent financial advice.
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