Forex Trading Definition
What is the definition of Contract Size in forex trading?
Pls gimme the detail information about Contract Size, n what is that for?Thank you
In forex, it’s called lots. You have 3 different lot (contract) sizes — Standard, Mini and Micro. A standard lot is for $100,000, so if you traded 1 standard lot, you’re trading $100,000 of currency. A mini lot is $10,000 and a micro lot is $1,000.
In a nutshell the lot (contract size) is telling you how much currency you’re trading in that lot. Hope this helps.
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