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 If you open short on EUR/USD of size 2 lots you will be shorting 200,000 euros. One pip

will be around 20$. Magic of leverage (and the curse same time…).

There are also smaller base sizes like:

1 mini lot (0.1) = 10,000 units of base currency

If you open long position on EUR/USD of size 0.1 then you will be long with 10.000

euro.

In MetaTrader4 it will be as Volume list like:

• 0.1 (one mini lot)

• 0.2 (two mini lots)

• 0.3 …

One pip will be here around 1 euro.

1 micro lot (0.01) = 1000 units of base currency

In MetaTrader4 it will be as Volume list like:

• 0.01 (one micro lot)

• 0.02 (two micro lots)

• 0.03 (three micro lots)

• …

Going long with 0.01 lot on EUR/USD means that you are long 1000 euros. One pip is

here around 0.1 euro.

1 nano lot (0.001) = 100 units of base currency

In MetaTrader4 it will be on select list like:

• 0.001 (one nano lot)

• 0.002 (two nano lots)

Not every broker offer trade sizes as small as nano lots or micro lots. You should check

it first in the offer.

Trading sizes are simple. First you may get confused, because it is different than trade

sizes in stock trading. Try to do some operations on demo account, try different

position sizes and you will understand quickly what it is all about with nano, micro, mini

and full lots.

How can I start Forex trading?

Ok, you want to become a currency trader. You’ve read about pips, leverage and all

that Forex trading. It is time to start practice. You are in luck, today it is very easy to

start Forex trading.

Select a Forex Broker

To start trading forex, you need a Forex broker. There are many brokers and for new

trader it may be hard to choose the best one. Remember, most of them offer a demo

account, where you can test their trading platform. You can start with our Forex

brokers section.

Usually, registration is quick, you need only some recent bills to prove your address is

valid. That’s it.

If you look at Forex broker offer, make sure that he allows to trade with lower sizes

such as nano or at least micro.

Install trading software

OK, with selected broker you need to install trading software. This will be MetaTrader4

platform or other custom platform from broke