What's Difference Between Micro and Standard Oil Trading Account?

What is the Difference Between Micro Oil Account and Standard Oil Trading Account Types in Oil Trading?

This difference between Micro Oil Account and Standard Oil Trading Account is the trading volume of the oil trading transaction that is opened on the Micro crude oil account & the trading volume opened for a standard crude oil trading account.

Micro Lots - For the Micro crude oil account the trading volume is equal to 1 hundredth of the standard oil lot. The Micro oil lot is equivalent to one hundredth of the standard oil lot.

Standard Lots - For the Standard crude oil trading account the trading volume is referred to as one standard lot.