Cryptocurrency Q&A
Is 0.01 a micro lot size?
Is 0.01 a micro lot size?
ShintoSanctum
Wed Dec 18 2024
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7 answers
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I'm trading forex and I'm trying to understand lot sizes. I know that a standard lot is 100,000 units of the base currency, and a mini lot is 10,000 units. But I'm not sure about micro lots. Is 0.01 considered a micro lot size?
7 answers
Valentina
Fri Dec 20 2024
The base currency is the first currency listed in a currency pair.
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BitcoinBaroness
Fri Dec 20 2024
For instance, in the USDJPY currency pair, the USD serves as the base currency.
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Chiara
Fri Dec 20 2024
A micro lot is defined as a trading lot size of 0.01.
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SejongWisdomSeeker
Fri Dec 20 2024
When trading with a micro lot in the USDJPY pair, you are essentially trading 1,000 USD.
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Martina
Fri Dec 20 2024
The lot size determines the overall value of the trade in terms of the base currency.
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