A micro lot is 1,000 units of the base currency, one hundredth of a standard lot. On a dollar-quoted pair, one pip is worth approximately ten cents, which makes it the smallest size most platforms allow and the usual starting point for a new account. Trading in micro lots lets a plan size a position to a stop-loss distance instead of rounding up to the nearest larger unit.
Forex glossary
Micro Lot
Related term
Lot
A lot is the standardised unit of trade size in forex. One standard lot is 100,000 units of the base currency, a minor lot (also called a mini lot) is 10,000 an…
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