Lot

a standardized unit of measurement in trading that specifies the amount of an asset being traded. For currency pairs in Forex, a standard lot equals 100,000 units of the base currency.

Standard lot: 1 lot = 100,000 units of the base currency.
Mini lot: 0.1 lot = 10,000 units of the base currency.
Micro lot: 0.01 lot = 1,000 units of the base currency.

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