What is a ‘Lot’?

A lot is a transaction unit on the market. One standard lot contains 100,000 units of base currency. For example, one standard lot of EUR/USD equals 100,000 EUR. Please note that on Cent accounts you trade cent lots, where one cent lot equals 1,000 units of base currency. The minimum lot which can be opened on the MetaTrader4 platform is 0.01.