A lot is a trading term referring to a placed order of 100,000 units.

The usual way to trade currency pairs is in standard lots (100,000), meaning that one is buying (or selling) 100,000 of the base currency while selling (or buying) the same number of units of the quote currency.

A mini lot would then be of 10,000 and a micro lot of 1,000.

1 lot = 100,000 units

0.1 lot = 10,000 units

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