Micro Lot
A micro lot is the term used for a 1,000 unit trade, which on most major pairs come out to about $0.10 of risk per pip. This is the smallest trade size available and is a great size for traders that don’t have much capital to trade. You won’t make a fortune, but you won’t lose too much either trading micros, that’s why it’s a great place to cut your teeth in Forex.
Mini Lot
A mini lot is the term used for a 10,000 unit trade, which on most major pairs means we are trading $1 a pip. We recommend having at least $1,000 deposited into your account for each mini lot you plan to have open simultaneously. It’s a good trade size for a serious part-time forex trader that has the capital or a full-time trader wanting to start with a smaller lot size.
Standard Lot
A standard lot is the term used for a 100,000 unit trade, which on most major pairs means we are trading $10 per pip. Gains/losses could reach $1000-$2000 or more per standard lot on a fairly common day in the forex market, so having a larger account size is mandatory to trade them seriously. Our account should have at least $10,000 per standard lot we are looking to trade, which normally means you are very serious trader in the FX market, part-time or full-time.
In the image above, we can see what each trade size translates to in an actual currency pair, the EUR/USD. Notice the trade size refers to the first currency in the currency pair, in this case Euros for the EURUSD pair. So a micro lot, mini lot, and standard lot means €1,000, €10,000, and €100,000.
