# Micro lot (forex)

In forex, a micro lot equals 1/100th of a lot or 1,000 units of the base currency.

A micro lot usually is the smallest position size that you can trade with. As new traders often do not have much in the way of starting capital, trading micro lots is a good way to keep the overall exposure of their trading account small. Also see money management.

If one micro lot of the EUR/USD is being traded, each pip would be worth \$0.1, as opposed to \$10 for a standard lot.

The following are the quantities typically used in the forex market:

• A standard lot = 100,000 units of base currency
• A mini lot = 10,000 units of base currency
• A micro lot = 1,000 units of base currency
• A nano lot = 100 units of base currency

Lesson
Learn how to determine how much you can risk on each trade, depending on the size of your trading capital.
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• Wouldn't every pip be worth EUR0.1 instead of \$0.1? (as euro is the base currency in the pair)
• no, you take the quoted currency, not the base one
• do I have to trade 10x 0,01 lot during first 60 days or 10x 0,1 lot?

Important: You need to make at least 1 forex trade during the first 14 days, trade at least 10 micro lots during the first 60 days and at least 8 lots within 2 years (or make a deposit).

So that would be either 10 micro lots (10 * 0.01 lot) or 1 mini lot (1 * 0.10 lot).

Questions regarding the free 100 euro bonus are best asked in the free 100 Q&A thread.
• So what is the meaning of the number under volume in meta trader4? When you want to buy or sell you need to specify volume. (0.01, 0.02...)?
• @Supercancel
The volume in Meta Trader 4 refers to how many standard lots you wish your order to be.
1 is 1 standard lot (100000 base currency)
0.1 is 1 mini lot (10000 base currency)
0.01 is 1 micro lot (1000 base currency)
• thank you, i get that now. The leverage concept was puzzling me, didnt undestand how i could buy a 1000E if i only had 100E.
• ?
• Just so i get this right:

Make 1 forex trade within 14 days (@0.01 - which is the max you can trade on the free 100 euro)

Then 10 micro lots or 10 trades (@0.01 ) to stay in the game within 60 days

Then to keep the free 100 euros you need to trade 8 lots which ive worked out as 800 trades @0.01 within 2 years

Am i correct?
• Yes Jimmyo you got it exactly right!
• May we all get there sooner than we expect
• How many trade (i.e trade lot size is 0.01) i need to complete 10 Micro Lot. Now I understand regarding Micro Lot.
• after getting 100E can i trade as much as i want ?
• Hi rajusaha,
you can trade as much as you can and want but there a restriction on how many open positions you are allowed to have simultaneously. You can open a maximum of 5X0.01 lot, that is 5 micros. Regards.
Hindsighthero
• thanks hindsighthero
• Your explanation is the Best. Thanks man!
• If I trade 8 lots before 2 years. I can unlocked your free €100 bonus. And I can withdraw
• Hi deaun,
Once you completed the 8 X 0.01 lots of trading volume and verified your account you will be able to withdraw your full balance. Details here:

Regards.
peter
• I can trade 8 lots for order of profit or order fo lost.
How I know when I completed the 8 X 0.01 lots of trading volume
• Hi deaun,

To find out how many lots you have traded, you can go into your 'Account History' in your MT4. If you right click while in this tab, you can select 'All History.'

If you total up your 'size' column, you can see how many lots you have traded.

Regards,
Emma

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