What is a Lot in Forex Trading?

In the past and even presently in MT4, spot forex is traded in specific amounts called lots. A lot in forex trading is basically the pre-defined number of currency units you will buy or sell when entering a trade.

Here is a list of different forex lot sizes you will encounter in your trading career.

Forex Standard Lot = 100,000 (100K) units of base currency.

Forex Mini Lot = 10,000 (10K) units of base currency

Forex Micro Lot = 1,000 (1K) units of base currency

Forex Nano Lot = 100 units of base currency

Below table shows some more detail about forex lot size: