ForexForex lot sizes: standard, mini, micro and nano
In forex you trade in lots, a fixed number of units of the base currency. The lot size decides what each pip is worth, and so how much you make or lose when the price moves.
The four lot sizes
Most brokers let you trade in steps of 0.01 lots, so you are not limited to these four sizes. They are simply the reference points traders use.
Nano lots are only offered on some "cent" or micro accounts. Pip values above apply to pairs where the US dollar is the quote currency; for other pairs the value changes with the exchange rate. Use our pip value calculator for any pair.
Lot size and risk
A 30-pip move against one standard lot of EUR/USD costs $300. The same move on one micro lot costs $3. Lot size is the main lever you control over risk, which is why many traders set it from their stop-loss distance rather than picking a round number.
For example, if you are willing to risk $50 on a trade with a 25-pip stop, the pip value you can afford is $50 ÷ 25 = $2, which is 0.2 lots on EUR/USD. Our position size calculator does this for you.
Lot size and margin
Bigger lots also tie up more margin. At 30:1 leverage, one standard lot of EUR/USD at 1.1000 is a $110,000 position and needs about $3,667 of margin; one micro lot needs about $37. See the margin calculator.
Common mistakes
Frequently asked questions
How many units are in one lot of forex?
A standard lot is 100,000 units of the base currency. A mini lot is 10,000, a micro lot is 1,000 and a nano lot is 100.
What is 0.01 lot in forex?
0.01 lots is a micro lot, or 1,000 units. On EUR/USD each pip is worth about $0.10, so a 50-pip move is about $5.
What lot size should a beginner use?
Size the trade from your stop-loss and the amount you are willing to lose, usually 1% to 2% of the balance. For small accounts that often means micro lots.