Lot:A lot is a standard unit of measurement in trading, often representing 100,000 units of the base currency in forex trading. Round Turn Lot Traded (rtl): refers to a complete trade cycle of one lot, which includes both the opening (buying) and closing (selling) of a trade position. For example, 7.2 USD per round turn lot traded means that for every round turn trade of one lot you execute, you will receive a rebate of $7.20. This amount is credited back to your trading account or your HFR account. Pip: is the smallest price move in a currency pair in the forex market, usually equivalent to 0.0001 for most currency pairs. Another example is; when a rebate is described as 0.9 pips per round turn lot traded, it means that for every complete trading cycle (both the opening and closing of a trade) involving one full lot, you will receive a rebate equivalent to 0.9 pips.