What is the definition of Contract Size in forex trading? -

Pls gimme the detail information about Contract Size, n what is that for?Thank you In forex, it s called lots. You have 3 different lot (contract) sizes -- Standard, Mini and Micro. A standard lot is for $100,000, so if you traded 1 standard lot, you re trading $100,000 of currency. A mini lot is $10,000 and a micro lot is $1,000. In a nutshell the lot (contract size) is telling you how much currency you re trading in that lot. Hope this helps.