What Is a Mini Lot?
A mini lot is a currency trading lot size that is one-tenth the size of a standard lot of 100,000 units—or 10,000 units. One pip of a currency pair based in U.S. dollars is equal to $1.00 when trading a mini lot, compared to $10.00 when trading a standard lot. Mini lots are common lot sizes in forex mini accounts that can be opened with some forex broker/dealers.
Alternatives to Mini Lots
Mini lots are commonly used by forex traders that are just getting started, but there are a few other options to consider:
- Micro Lots – Micro lots are one-tenth the size of a mini lot or 1,000 units of a base currency. One pip of a currency pair based in U.S. dollars is equal to just $0.10 when trading a micro lot.
- Nano Lots – Nano lots are one-tenth the size of a micro lot and one-hundredth the size of a mini lot, or 100 units of a base currency. One pip of a currency pair based in U.S. dollars is equal to just $0.01 when trading a nano lot.
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