What's Lot Size in Forex for Micro Account? - Definition of What is Forex Micro Lots
Definition of What's the Lot Size for Forex Micro Lots
1 Micro lot is the equivalent of 1000 Units of the base currency - Lot size for Micro lots is therefore 1,000 units of base currency
The Micro lot is equivalent to one hundredth of the standard forex lot. The micro lot volume in trading is therefore specified as 0.01 on forex trading platform.
To Specify a Micro Lot for trading in MetaTrader 4 forex Platform, use the MT4 open forex orders tutorial described below:
To set these forex orders in MetaTrader 4 Platform: open MetaTrader 4, 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, Choose the trade 'Volume' as 0.01 to specify Micro Lot.
How to Open a Forex Micro Lot on MT4 Micro Forex Account
For Micro lot the pip value per trade is equal to $0.1
Forex Micro Account Definition - the definition of a forex micro account is an account type where forex traders open trades using micro lots. 1 Micro lot is the equivalent of 1000 Units of the base currency.
The Micro 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 micro lots therefore capital needed to open this micro forex account is not a lot as that required for opening a standard forex account.
