The lot has 4 types of sizes:
The standard lot forex which the basic and whole form of the lot which is equivalent to 100 000 units of a currency.
The mini lot forex represents 10% of the 1 standard lot and is equivalent to 10 000 units.
The micro lot forex is equivalent to 1000 units and it holds less risk while trading.
The nano lot (also known as the cent lot/ account) is equivalent to 100 or 10 units of a currency and it has the least risk while trading. Some, but not all, forex broker houses provide the nano lot accounts for their clients.