What is Lot Size in Forex for Cent Account? - Definition of What is the Lot Size for Forex Cent Lots
Definition of What is the Lot Size for Forex Cent Lots
1 Cent lot is the equivalent of 100 Units of the base currency - Lot size for Cent lots is therefore 100 Units of base currency
The Cent lot is equal to one tenth of Micro forex lot. The Cent lot volume in trading is therefore specified as 0.01 on forex trading platform.
To Specify a Cent Lot for trading in the MetaTrader 4 forex Platform, use the MT4 open forex orders guide described below:
To set these forex orders in MetaTrader 4 Platform: open MT4, open a "forex chart", right-click on "forex chart', choose 'New Order', then choose order either sell or buy as shown below. (Short Cut Keys - Press F9). Select The Currency Symbol you want to trade for example EURUSD and then below the currency Symbol, Select the trade "Volume" as 0.001 to specify Cent Lot.
How to Open a Forex Cent Lot in MetaTrader 4 Cent Forex Account
For Cent lot the pip value per trade is equal to $0.01 or 1 Cent
Forex Cent Account Definition - the definition of a forex Cent account is an account type where forex traders open trades using Cent lots. 1 Cent lot is the equivalent of 100 Units of the base currency.
The Cent forex account allows many retail forex traders to access the forex market because with this account forex traders can trade smaller forex lots known as Cent lots therefore capital needed to open this Cent forex account is not a lot as that required for opening a standard forex account.
