Free calculator
Forex Lot Size Converter
Brokers talk in lots. Charts and some platforms talk in units. This converter turns one into the other.
- Forex
Uses forex lot sizes. Other markets use contracts or shares, which your broker sets.
On a standard lot of a USD-quote pair (EUR/USD, GBP/USD, AUD/USD), 1 pip ≈ $10. On a mini lot, ~$1. On a micro lot, ~$0.10. Use the Pip Value Calculator for other pairs.
For learning and planning. The numbers are math on what you type, not a prediction.
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What is a lot in forex?
A lot is a bundle of currency. A standard lot is 100,000 units, a mini lot is 10,000, and a micro lot is 1,000.
Knowing the size in units makes pip value easy: on EUR/USD every 10,000 units is about $1 per pip.
The formula in plain words
- Units = lots times 100,000.
- Mini lots = lots times 10. Micro lots = lots times 100.
1 standard lot = 10 mini lots = 100 micro lots = 100,000 units
Worked example
Converting 0.35 lots
- 1Units: 0.35 × 100,000 = 35,000 units.
- 2Mini lots: 0.35 × 10 = 3.5 mini lots. Micro lots: 0.35 × 100 = 35 micro lots.
- 3On EUR/USD that size is worth about 35,000 × 0.0001 = $3.50 per pip.
0.35 lots is 35,000 units, 3.5 mini lots or 35 micro lots, about $3.50 per pip on EUR/USD.
Common mistakes
- Thinking 1.0 means one micro lot. On most platforms 1.0 is a full standard lot.
- Starting a demo at 1.0 lots because it is the default. Practice at the size you would really use.
- Forgetting that some brokers use different contract sizes for metals and indices.
Questions people ask
What lot size should a beginner use?
The size should come from your risk, not from the lot names. Use the position size calculator to find it. Small accounts often end up in micro lots.
What is a nano lot?
Some brokers offer 100 unit lots, called nano lots. Not every broker has them.
Is 0.01 lots a micro lot?
Yes. 0.01 standard lots is 1,000 units, which is one micro lot.
Learn the idea behind it
The calculator does the math. These free lessons explain when and why to use it.
Quick answers
Words to know
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Demo first. Trading has risk of loss. Education, not financial advice.