What does a Standard Lot buy? Newb question here!

Beginner Questions
1

Hey all, I’m new to Forex and can’t seem to find a clear answer to what I think it basic question… any help or good references would be apprecated!

What I’m wonding is, what is the atual funds used when buying a Standard lot?

For example, if EUR/USE’s BID: 1.1434’4 and ASK: 1.1432’6 – I know the Spread there is 2.

But if I put in a buy Market order for 2 Lots or 200,000 Units of currency, what is it that I bought currency-wise?

Part of me thinks I would 1.434’4 multiplied by 200,000? 228,688 seems crazy to me! Any help would be great.

2

Welcome to the forum.

Your question’s answered and explained on this page, with examples: [B]How to Make Money Trading Forex[/B]

I recommend the “School”, for learning this basic stuff: it’s the second-from-left of the tabs running across the top of the forum’s pages. And good luck!