For those who want to start trading with XM, it is necessary to understand currency units and lots. For those who do not know 1 lot of XM, I will explain the number of currencies in 1 lot, the minimum lot and the maximum lot.
What is lot?
Lot is the unit of trading currency amount in FX. In FX, large funds such as 100,000 and 1 million currencies move. However, it was a little inconvenient to handle because it was a large unit. Therefore, a unit called lot was born so that the currency unit can be roughly grasped.
1 lot unit of XM
|1Lot||1000 currency||100,000 currency||100,000 currency||100,000 currency|
One lot of XM’s standard account and zero account is “100,000 currency”. Micro accounts have 1 lot of 1000 currency. Let’s remember that XM basically has 100,000 currency per lot.
Number of lots traded on XM
XM can be traded from a minimum lot of 0.01 lots.
|1Lot||100,000 currency||1000 currency||100,000 currency||100,000 currency|
|Minimum lot||0.01 lot (1000 currency)||0.01 lot (10 currencies)||0.01 lot (1000 currency)||0.01 lot (1000 currency)|
|Maximum lot||50 lots (5 million currency)||100 lots (100,000 currency)||50 lots (5 million currency)||50 lots (5 million currency)|
Standard and Zero accounts can trade from 1000 currencies and Micro accounts can trade from 10 currencies. The maximum lot is 50 lots for Standard and Zero accounts, and 100 lots for Micro accounts.
What is the maximum lot?
Maximum lot refers to the maximum number that can be ordered in one transaction. Please remember that the maximum number of positions on XM is 200 lots. It is possible to hold a position up to a maximum lot of 50 x 4 times.
If you can’t calculate lots in FX trading, you may make a big loss by doing unreasonable high leverage trading. If you trade FX with XM Trading, be sure to be able to manage lots and calculate lots.
Profit and loss calculation method per pip
Profit and loss in Forex trading can be calculated by the following formula. The trading volume can be obtained by “number of lots x currency unit”.
Profit/Loss = Trading Volume x (Settlement Price – Order Price)
If you are worried, try trading with a standard account first.
We have introduced the account types of XM. If you don’t understand or are in trouble, let’s open a standard account first.
1 lot 100,000 currency
1 lot unit of standard account is 100,000 currency. Much more than 1,000 currencies per lot for micro accounts. A large amount of currency means a large profit per trade. If you want to make big profits in a short period of time, a standard account is recommended over a micro account.
There are two types of deposit bonuses for Standard and Micro accounts. But I can’t get a zero account. If you get a deposit bonus, you can also afford margin. Forex beginners melt money quickly, so you should open an account with a standard account that can receive a deposit bonus.
Loyalty programs apply to Standard and Micro accounts. Join our loyalty program and you will be rewarded with XM points for repeat trades. Accumulated XM points can be exchanged for bonuses and used as margin for FX trading. If you have a standard account with a large amount of trading currency, the speed at which you accumulate XM points is fast.