How Much is 0.01 Contract in Forex? - Definition of a Micro Contract in Forex

0.01 Contract in forex is equivalent to 1,000 units of currency.

0.01 Contract is a Micro Contract

The minimum price movement for a 0.01 Contract or Micro Contract is 0.1 dollars

Micro Account for Micro Contracts

Micro Accounts use contract sizes of only 1,000 currency units. These micro contracts are often appropriate for traders without a lot of capital and can sometimes be opened with only a $5 minimum balance.

This Micro Account option allows the trader to open trades in micro contracts. 1 micro lot is one-tenth of a mini and one-hundredth of a standard contract.

If an exchange rate for EURUSD is quoted at 1.400, then the smallest transaction available in a micro account is worth $1,400 used to buy 1,000 EUR. With leverage, this is only $14 of your money. This option is generally best suited for equity balances that are between $1,000 and $5,000

For Micro Contract - Minimum Price Movement of 1 pip = $0.1