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Thread: What is the difference between Metatrader Volume and lot size?

  1. #1

    What is the difference between Metatrader Volume and lot size?

    I am quite confused ,you create orders on meta trader with quantity 0.1 ,0.2 till 8. What does quantity = 8 means?

    Where do I control my leverage?

  2. #2
    Quote Originally Posted by ;
    depends upon your broker concerning what 0.1 is equivalent to. Could be 1 miniature lot or 1 micro lot.

    With most metatrader brokers you need to contact them to receive your leverage changed.
    NordFX says up to 1:200.

    I'm really confused. What if I deposited 500$ ,that which does trading 1 lot size mean?

  3. #3
    You will need to check with your broker regarding what your leverage is put at, most probably they set it in the very top of 200:1. Without understanding your broker its hard to tell what type of account you have. With 500 on your account you need to be trading micro lots or smaller. Although not 100% convinced 1 lot is the most likely 1 standard lot again check with your broker to be certain.

  4. #4
    I mean ,what is the difference between maximum lot and maximum leverage. To get a mini-account ,it states maximum. lot is 10 ? Why specify both ,maximum leverage and lot?

  5. #5
    Quote Originally Posted by ;
    I mean ,what's the difference between maximum lot and maximum leverage. For a mini-account ,it states max. lot is 10 ? Why specify both ,maximum leverage and lot?
    Because leverage and lots are two distinct things. Lot size (or Volume on a metatrader platform) is how much of a currency that you want to purchase. Leverage decides how much each dollar in your account can purchase.

    1 micro lot = 1,000 of a currency pair.
    1 miniature lot = 10,000 of a currency pair.
    1 standard lot = 100,000 of a currency pair.

    200:1 leverage means that for each dollar in your account you can purchase approximately 200 dollars of currency.

  6. #6
    Ok ,to get a mini lot ,If I had 500$ and I want to purchase 1 lot us $ . Does it mean that I need to purchase 10,000$ ? And this means I'm using a leverage of 10000/500 20:1??

    Another question ,why I can not see profits in pips on MT4? Why I can not find the price of 1 PIP??

  7. #7
    Quote Originally Posted by ;
    Ok ,for a mini lot ,If I had 500$ and I want to buy 1 lot us $ . Does this mean that I want to buy 10,000$ ? And this means I am using a leverage of 10000/500 20:1??

    Another question ,why I can not see profits in pips on MT4? Why I also can not find the price of 1 PIP??
    No, 1 mini lot on EURUSD in 200:1 leverage is going to cost your account about $72.00. Leaving you with about 428 available on your account. You need to ascertain the amount of lots you're likely to trade according to your risk not just how many you can buy.

    You're able to see your profit as pips in MT4. Right click on the window that shows your current trades profit and as points.

    Someone probably has an indior that will reveal the worth of every pip however, you can approximate it at about 1.00 per pip with a mini lot. It'll be different for every pair but 1.00 is close enough for most.

  8. #8
    Quote Originally Posted by ;
    Ok ,to get a mini lot ,If I had 500$ and I would like to buy 1 lot us . Does it mean I want to buy 10,000$ ? And this means I'm using a leverage of 10000/500 20:1??

    Another matter ,why I can't see profits in pips on MT4? Why I also can't see the price of 1 PIP??
    You can observe the pip value when a transaction is going on... however, USD-based currency pairs (EUR/USD, GBP/USD, AUD/USD and NZD/USD) have a pip value of $10 per standard lot (or $1 per mini-lot). Other pairs with a different base currency will be calculated with regard to the base currency relationship to the USD. Therefore for each additional cross-pair the pip value will fluctuate along with changes in rates, while it remains stable for the above-mentioned pairs.

    For instance, EUR/GBP (in which GBP is the base currency) will be 10 * GBP/USD rate while for EUR/JPY it's 1000 / USD/JPY rate, etc. They are divided where the pair used for the calculation has USD as QUOTE currency (USD/XXX), and multiplied in which it's the USD as BASE currency (XXX/USD).

    Though there may be minor differences between brokers, it is possible to see an instance of the pip worth https://www.fxpro.com/forex.html (scroll down the page to see the table).

    Regarding the volume, the drop-down list is non-limitative, which means you can enter any additional value up to a broker's greatest limitation, such as 10 (lots or mini-lots), or 5.6, etc.. Leverage applied will influence the amount of margin required on any transaction, and is not the same as true leverage, which can be related to the quantities of lots traded versus your equity (by way of instance, if you have an equity of $10000 and you start a 1 mini-lot position, you will be trading at 1:1 true leverage, independently of this leverage applied to the margin from your broker.

  9. #9
    1 micro lot = 1,000 units of a currency pair (0.01)
    1 mini lot = 10,000 units of a currency pair (0.1)
    1 typical lot = 100,000 units of a currency pair (1.0)

  10. #10
    Quote Originally Posted by ;
    depends on your broker as to what 0.1 is equivalent to. Could be 1 miniature lot or 1 micro lot. With most metatrader brokers you need to contact them to get your leverage changed.
    Most Definitely,I guessed settings of Leverage change varies from broker to broker, It recommended you contact your broker on the best way to modify your leverage.

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