Trader's Glossary

Micro Lot

1/100 of a standard lot. In forex trading, a Micro Lot represents 1,000 units of the base currency in a pair.
Did you know?

Between the years 1860 and 1913, the number of foreign banks operating in London increased from 3 to 71.

Word of the day
"Minor Currency Pair" - Any currency pair which includes two major currencies, yet without containing the U.S. dollar. Minor Pairs are also known as Cross Currency Pairs, or Crosses.
Pro Tip

Always check transaction costs before opening an account (and keep in mind that cheap rates are no guarantee of reliability).

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