What it is
Lots are the units in which forex positions are measured. A standard lot is 100,000 units of the base currency, a mini lot is 10,000 units and a micro lot is 1,000 units. This converter takes a position in units and shows it in standard, mini and micro lots.
Why it matters
Different places describe the same trade in different ways. Your trading platform may use decimals of a standard lot, a calculator may give you units, and a crypto exchange may use coins. A mix-up of a decimal point can make a trade ten times bigger or smaller than you meant.
Why traders use it
Traders use it when a calculator, a course or a broker states the size in a different unit from the one on their order ticket. It is also useful for new traders who are still learning what 0.01 or 0.1 lots really mean.
How important is it?
In terms of decisions, this is a small utility. It will not improve your strategy. Its value is in preventing a costly typing mistake, so we would call it low in importance for analysis and high for avoiding errors.
Worked example
With the default of 10,000 units, the result is 0.1 standard lots, which is the same as 1 mini lot or 10 micro lots.
A position of 25,000 units is 0.25 standard lots, 2.5 mini lots or 25 micro lots. And 0.01 standard lots, the smallest size at many brokers, is 1,000 units.
Common mistakes
- Assuming one lot is always 100,000 units. For gold it is commonly 100 ounces, and for indices and crypto the contract size varies by broker.
- Confusing a mini lot (0.1 standard lots) with 0.01 lots.
- Typing 1.0 instead of 0.1 on the order ticket.
- Ignoring your broker's minimum size and lot step, which may not allow the exact amount you calculated.
Frequently asked questions
How many units are in 0.01 lots?
It is 1,000 units, which is one micro lot.
How do I convert TradingView units into MT4 or MT5 lots?
TradingView paper trading and position tools show raw currency units. Type your TradingView unit number into the box above and use the Standard Lots figure (units divided by 100,000) on your MT4 or MT5 order ticket.
Does a lot mean the same for gold or crypto?
Not necessarily. The standard 100,000 units applies to forex currency pairs. For gold, indices and crypto, check the contract size in your broker's specification.
What is the smallest trade I can place?
It depends on the broker. Many allow 0.01 lots, and some cent accounts allow smaller steps.
Related trading guides
How to Calculate Position Size, Step by Step
A simple four-step method to work out your lot size from your account balance, risk percentage and stop loss, with worked examples.
What is a Pip and How to Read It?
Learn how to calculate pips, understand pip values, and read forex quotes correctly.
This page is for education only and is not financial advice. See our disclaimer.