What is the Difference Between XAUUSD Standard Contract & Nano Contract?

What is the Difference Between XAUUSD Standard Contract & Nano Contract in XAUUSD?

The difference between XAUUSD Standard Contract & Gold Nano Contract is the trading volume of the xauusd transaction that is opened using the Standard Contract and that which is opened using Gold Nano Contract.

Standard Contract - the trading volume is equal to 1 gold trading lot

Nano Contract - the trading volume is equivalent to 1 hundredth of mini gold trading lot

Standard Contracts - for the Standard XAUUSD Contracts the trading volume is equal to 1 xauusd lot is also referred to as 1 Standard lot or 1 XAUUSD Lot. For Standard Contract the pip value is equal to $10.

Nano Contracts - for the Nano XAUUSD Contracts the trading volume is equivalent to 1 hundredth of mini xauusd lot is referred to as one Nano lot or one xauusd Nano lot. For Nano Contract the pip value is equal to $0.01 or 1 Cent.