Definition
Lot (standard, mini, micro)
Forex position size units: standard = 100,000 base currency, mini = 10,000, micro = 1,000.
One standard lot on EUR/USD moves ~$10 per pip; a mini $1; a micro $0.10. Prop accounts trade fractional lots (0.01 steps) so risk can be sized precisely.
Futures use contracts instead of lots — minis (ES, NQ) and micros (MES, MNQ) with fixed per-tick values.
Related terms
General industry definitions — individual firms define terms differently in their own ToS; the decoded rulebook for each firm is the source of truth. Educational, not financial advice.