What is 0.01 lot size in dollars

[Gyan Dev]

 

The value of 0.01 lot size in dollars depends on the currency pair being traded, as well as the current exchange rate of the pair.

In forex trading, a lot is a standard unit of measurement used to describe the size of a trade. A standard lot size is 100,000 units of the base currency, a mini lot size is 10,000 units, and a micro lot size is 1,000 units. Therefore, 0.01 lot size is equivalent to 1,000 units of the base currency.

To calculate the value of 0.01 lot size in dollars, you would need to multiply the number of units by the current exchange rate of the currency pair. For example, if you are trading the EUR/USD pair and the current exchange rate is 1.2000, then the value of 0.01 lot size would be:

1,000 units * 1.2000 = 1,200 USD

So, the value of 0.01 lot size in dollars would be 1,200 USD if trading the EUR/USD pair at an exchange rate of 1.2000.

 

Edited April 13, 2023 by Gyan Dev