What is Difference Between Standard Lot, Mini Lot and Micro Lot in Forex Trading?

Standard Lots and Micro Lots

There is the fraction of 1 Standard Lot which the Mini Lot, and there is also the fraction of 1 Mini lot which is the Micro Lot, these fractions of the standard lot are provided by forex brokers so as to make Forex trading more affordable to traders without a lot of capital. The minimum capital required to start trading forex Mini Lots and Forex Micro Los being as little as $5 dollars.

Standard Lot = $100,000 Units of Currency

The Fraction of a standard lot are called Mini Lot which is 1/10 of a standard lot and Micro Lot which is 1/100 of a Standard Lot

Mini Lot = $10,000 Units of Currency

Micro Lot = $1,000 Units of Currency

These mini lots and micro lots were introduced to make the forex trading Market more accessible to the retail forex retail traders as well as attract more and more forex day traders.

Maybe this is why Forex trading has become very popular, even with as little as $100 dollars a beginner trader can open a mini forex trading account or a micro forex trading account and enter this forex trading market.