Trade Forex Trading

0.01 Forex Contract Size: Micro Lot Explained

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 Trading Accounts handle just 1,000 units per contract. These small sizes fit traders with little cash and often start with a $5 balance.

With a Micro Account, traders can make trades with very small contracts. One micro contract/lot is a tenth of a mini and a hundredth of a standard contract.

If the exchange rate for EUR USD is quoted at 1.400, the minimum trade available in a micro account is valued at $1,400, which is used to purchase 1,000 EUR. With leverage, this only requires $14 of your own funds. This option is typically best suited for equity balances ranging from $1,000 to $5,000.

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

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