In Forex, a “lot” is like a unit of measurement to quantify the size of your trade. There are four main types of lots:
Lot | Number of Units |
Standard | 100,000 |
Mini | 10,000 |
Micro | 1,000 |
Nano | 100 |
The lot size you choose influences the risk and potential profits. The larger the lot, the higher the risk and profit potential. Beginners often start with smaller lots to manage risk.