Instead of rand/dollars per point on currency pairs, we have introduced lots on all currency pairs. This means that you can now trade micro lots (0.01), mini lots (0.1) and standard lots (1.0) on our platform, allowing you to trade at a volume that you are comfortable with. This comes in handy given the hedging feature that we have recently added to the platform.
Furthermore, you can now use strategies or expert advisors that you are using on other MT5 terminals on our platform.
So, what are the changes?
Taking the example of the EURUSD currency pair. Previously the instrument was priced to the 4th decimal with a contract size of 10 000. It would have been quoted as 1.1200/1.1203 on our platform and in this regime the minimum trade position you could hold was 0.1.
Now the EURUSD currency pair on our platform has a contract size of 100 000 which is in line with current global currency trading practices. The instrument is now being quoted to the 5thdecimal as 1.12001/1.12004, and the minimum trade volume is now 0.01.
The change is also applicable to all Japanese Yen crosses which are now being priced to the 3rddecimal instead of the 2nd.
Advantages of lots:
- Customize your risk (volume) depending on your strategy or level of expertise. Micro lots (0.01) can be beneficial for novice traders looking to gain confidence in their trading before taking higher risks.
- Most signal providers trade using lots therefore the feature will allow for seamless integration with following signal providers.
- A pricing convention that is universal and easy to comprehend.