Trade sizes and lots

Trading volume is simply the size of your trade, measured in a standard unit called a lot so everyone knows exactly how much exposure they have.

Pip values shown are for a currency pair such as EUR/USD. A lot is the instrument's standard contract size, and it varies by symbol. The exact figure is in the MetaTrader 5 symbol specification.

Why volume controls everything

Volume decides the value of a pip, and therefore how much every price move is worth to you. A larger volume means each pip is worth more money. At one standard lot, a 1 pip move in your favour makes 10 US dollars and a 1 pip move against you loses 10. At 0.01 lots the same move is 10 cents.

A mistake at standard lot size costs 100 times what the same mistake costs at micro lot size. If you are learning, keep your volume as low as possible.

Setting it in MetaTrader 5

1. Select New Order, or press F9 on a computer.
2. Find the Volume box at the top of the order window.
3. Type the decimal for the size you want: 0.01 for a micro lot, 0.10 for a mini lot, 1.00 for a standard lot.
4. Double check the volume before selecting Buy or Sell. This setting is the biggest single factor controlling your risk.

Limits by market

Currency conversion

Profit and loss is worked out first in the quote currency of the pair, then converted automatically into your account base currency at the current exchange rate.