Lot sizes
| Lot | Units of base currency | Approx. value of 1 pip on EUR/USD |
|---|---|---|
| Standard (1.00) | 100,000 | $10 |
| Mini (0.10) | 10,000 | $1 |
| Micro (0.01) | 1,000 | $0.10 |
On MetaTrader you enter volume in lots, so 0.01 is a micro lot and 0.1 is a mini lot.
Why it matters
Lot size is the lever that controls your risk. The same 30-pip loss costs $300 on one standard lot and $3 on a micro lot. Beginners should start with the smallest size their broker allows, ideally on a demo account first.