What is Difference Between Standard Contract & Micro Contract? - Standard vs Micro Contract

What is Difference Between Standard Contract & Micro Contract in Forex Trading?

The difference between Forex Standard Contract & Micro Contract is the trading volume of the forex trading transaction that is opened using the Standard Contract & that which is opened using Forex Micro Contract.

Standard Contract - the trading volume is equal to 100,000 units of base currency

Micro Contract - the trading volume is equal to 1,000 units of base currency

Standard Contracts - for the Standard Forex Contracts the trading volume is equal to 100,000 units of base currency is also referred to as 1 Standard lot or 1 Lot. For Standard Contract the pip value is equal to $10.

Micro Contracts - for the Micro Forex Contracts the trading volume is equal to 1,000 units of base currency is referred to as one Micro lot or one forex Micro lot. For Micro Contract the pip value is equal to $0.1 or 10 Cents.