Reference
Identify the units behind each calculation and distinguish a general reference from your instrument’s terms.
Contract sizes
Examples of how many units one lot represents. Check the specific contract value before calculating.
| Class | Size of 1 lot |
|---|---|
| Forex | 100,000 (base currency) |
| Gold (XAU) | 100 troy ounces |
| Silver (XAG) | 5,000 troy ounces |
| Platinum / Palladium | 100 troy ounces |
| Base metals (Cu, Zn, Pb, Ni, Al) | 1 tonne |
| Energies (oil, gas) | 1,000 barrels / MMBtu |
| Indices | 1 (×10 or ×100 on variants) |
| Stocks | 100 shares |
| Crypto | 1 coin |
Pip vs Point
A pip is a reference unit. The point and minimum price increment may vary; the examples in this table do not replace the instrument’s specification.
| Class | Pip | Point |
|---|---|---|
| Standard currencies | 0.0001 (4th decimal) | 0.00001 (5th) |
| Gold, Silver, JPY | 0.01 (2nd decimal) | 0.001 (3rd) |
| Crypto | 0.1 (1st decimal) | 0.01 (2nd) |
Precision and rounding
- Pip size is not necessarily the minimum price increment (tick). Confirm the instrument’s precision before setting a price.
- An amount displayed with two decimal places does not replace the precision used in the calculation.
- Volume must respect the contract’s minimum and lot step. Rounding upward can exceed the risk budget.
When swap is applied
- The cutoff time, charged days and any multiple charge depend on the instrument and account conditions. Confirm them with the broker.
- Before estimating an amount, check the swap rate’s unit. A rate without a confirmed unit cannot be converted directly into money.
Check the contract for your instrument
Reference values help you understand the calculation. The instrument sheet contains available data; confirm any missing conditions in your account.