What is Difference Between Standard Contract & Mini Contract? - Standard vs Mini Lot

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

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

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

Mini Contract - the trading volume is equal to 10,000 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.

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