What are lots in forex?

Nano lot – Very rarely seen in FX trading but it is the most flexible of the lot sizes. Nano lots are useful if you are starting out small and want to test the waters of FX trading.

Micro lot – A micro lot is typically the smallest lot size tradable, as nano lots are so rarely seen. At 1000 units, you can trade on a smaller account which is why micro lofts are often used by novice traders who want to reduce potential losses.

Mini lot – To get the most benefit out of trading as a beginner, it would still be recommended to trade in mini lots. Many advanced traders use mini lots to gain greater control over their forex positions.

Standard lot – Most traders with retail investor accounts won’t ever use this lot size. It feels tempting to trade at this size but one really does need the capital to do so safely. Standard lots are for traders who understand risk management well.

r use this lot size. It feels tempting to trade at this size but one really does need the capital to do so safely. Standard lots are for traders who understand risk management well.