In leveraged forex trading, a lot is a unit measuring the quantity of an order. A standard lot is the equivalent of 100,000 units of the base currency. There are also smaller lot sizes.
- Standard lot: 1 lot = 100,000 units
- Mini lot: 0.1 lot = 10,000 units
- Micro lot: 0.01 lot = 1,000 units
The contract size is generally a standard lot, i.e. 100,000 units, of the base currency.
For example, a standard lot of EUR/USD refers to a 100,000 EUR contract, and a mini lot of GBP/USD refers to a 10,000 GBP contract.
Minimum Volume: the minimum trading volume per order for a currency pair
Maximum Volume: the maximum trading volume per order for a currency pair
Limit & Stop Level refers to the distance between the placed order price and the current market price which determines how the traders can place their pending limit orders, stop-loss orders, or take-profit orders. It is measured in points (pt), which represents from the last digit (third for yen pairs or fifth decimal places for other pairs) of the market price.
For the different order types, the rules are as follows:
Limit orders are prohibited when the distance between placed order [Price] and the Market Price or the distance between placed order [Price] and [Stop-Loss Price] or [Take-Profit Price] that falls within the Limit & Stop Level.
Stop orders are prohibited when the distance between placed order [Trigger price] and the Market Price or the distance between placed Order [Trigger price] and [Stop-Loss Price] or [Take-Profit Price] that falls within the Limit & Stop Level.
Stop limit orders are prohibited when the distance between the first placed order [Trigger price] and the Market Price, the distance between the second placed order [Price] and first placed order [Trigger price] or the distance between second placed order [Price] and [Stop-Loss Price] or [Take-Profit Price] that falls within the Limit & Stop Level.
If Limit & Stop Level is violated, the server will respond with "Invalid order price" and reject the order.
* [Price][Trigger price][Take-Profit Price][Stop-Loss Price] - refers to the price you wish to enter in Futubull App
Freeze Level refers to orders that are prohibited. It is also measured in points (pt), which represents from the last digit (third for yen pairs or fifth decimal places for other pairs) of the market price.
Modifying or cancelling orders are prohibited when the distance between the placed order [Price] for limit orders and current Market Price or the distance between the placed order [Trigger price] for either the stop orders or stop limit orders and the current Market Price that falls within the Freeze Level.
Similarly, any modifying or closing of positions are prohibited too when the distance between placed order [Stop-Loss Price] or [Take-Profit Price] and the market price falls within the Freeze Level.
* [Price][Trigger price][Take-Profit Price][Stop-Loss Price] - refers to the price you wish to enter in Futubull App