What's Difference Between Oil Standard Contract and Nano Contract?

What's Difference Between Oil Standard Contract and Nano Contract in Oil Trading?

The difference between Oil Standard Contract and Oil Trading Nano Contract is the trading volume of the oil trading transaction that is opened using the Standard Contract and that which is opened using Oil Trading Nano Contract.

Standard Contract - the trading volume is equal to 1 oil lot

Nano Contract - the trading volume is equivalent to 1 hundredth of mini oil lot

Standard Contracts - for Standard Oil Trading Contracts the trading volume is equal to 1 oil lot is also referred to as 1 Standard lot or 1 Oil Trading Lot. For Standard Contract the pip value is equal to $10.

Nano Contracts - For the Nano Oil Trading Contracts the trading volume is equivalent to 1 hundredth of mini oil lot is referred to as one Nano lot or one oil trading Nano lot. For Nano Contract the pip value is equal to $0.01 or 1 Cent.