forex what is a lot size
Currencies in Forex are traded in Lots. A standard lot size is 100 000 units. Units refer to the base currency being traded. For example, with USD/CHF the base currency is US dollar, therefore if to trade 1 standard lot of USD/CHF it would be worth $100 000. Another example: GBP/USD, here the base currency is British Pound(GBP), a standard lot for GBP/USD pair will be worth Â£100 000.