FXpips Academy · Forex Foundations · free
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Lot sizes
Position size is measured in lots. A standard lot is 100,000 units of the base currency, a mini lot is 10,000 and a micro lot is 1,000.
On EUR/USD, one standard lot is worth about $10 per pip, a mini lot $1 and a micro lot $0.10. Lot size — not the number of pips — decides how much money a move makes or costs you.