Hi,
Can someone explain to me what the volume option is about in the attached image? many thanks!
Volume of 1.00 is one complete lot.
1.00 lot is equal to $10.00 on a standard account.
1.00 lot is equal to $1.00 on a mini account.
As EnPoint noted, 1 = 1 lot. The size of that lot depends on your account. If you’ve got a mini account, it’s 10,000 units. In a micro account it’s 1000 units. For a standard account it’s 100,000 units.
It’s the amount you want to buy/sell. Similar to shares for stock but forex doesn’t use shares, just lots (aka volume).