What Is a Lot in Forex and Gold? Lot Size and Pip Value
The lot is the size of your trade, and it decides how much money one pip is worth. Here is how it works on EURUSD, gold and USDJPY, with real prices from October 2026.
A lot is the size of your trade. One standard lot (1.00) is 100,000 units of the first currency: 100,000 euros on EURUSD. A mini lot (0.10) is 10,000 and a micro lot (0.01) is 1,000. One lot of gold is 100 ounces. On one lot of EURUSD or gold, one pip is worth $10; on 0.01 lot, $0.10.
Compare two trade sizes for the same gold move on October 27, 2026: about +572 pips. At one size, the move was worth about $57. At the other, about $5,720. Same pips, different size. The difference is the lot.
What a lot is
A lot is the size of your trade. On a trading platform, you do not type an amount of money. You choose a number of lots.
One standard lot is 100,000 units of the first currency in the pair. On EURUSD, the first currency is the euro, so one lot is 100,000 euros. A mini lot is a tenth of that, and a micro lot is a hundredth.
| Lot | Lots | Units | On EURUSD |
|---|---|---|---|
| Standard | 1.00 | 100,000 | €100,000 |
| Mini | 0.10 | 10,000 | €10,000 |
| Micro | 0.01 | 1,000 | €1,000 |
Gold is different. One lot of gold (XAUUSD) is 100 ounces. So 0.10 lot is 10 ounces and 0.01 lot is 1 ounce.
What one pip is worth
Now the money. On EURUSD, one pip is 0.0001 (see What Is a Pip?). Multiply it by the size of one lot:
100,000 × 0.0001 = $10
So on one lot of EURUSD, every pip is worth $10. On a mini lot, one pip is worth $1; on a micro lot, 10 cents.
Gold works out the same. On SocialCharts one gold pip is $0.10, and one lot is 100 ounces: 100 × $0.10 = $10 per pip.
| Lots | EURUSD | Gold |
|---|---|---|
| 1.00 | $10 | $10 |
| 0.10 | $1 | $1 |
| 0.01 | $0.10 | $0.10 |
Value of one pip. Gold with one pip = $0.10, as on SocialCharts charts.
Yen pairs work a little differently. On USDJPY one pip is 0.01, and it is paid in yen: 100,000 × 0.01 = ¥1,000 per pip for one lot. In dollars, that changes with the price. At 157.82 (USDJPY on October 28, 2026), it is about $6.34 per pip.
Lot size calculator
Same move, different size
Back to October 27. Gold rose about 572 pips from open to close. Using that rounded move, here is its value at three sizes:
| Lots | 1 pip | Oct 27: +572 pips |
|---|---|---|
| 1.00 | $10 | +$5,720 |
| 0.10 | $1 | +$572 |
| 0.01 | $0.10 | +$57.20 |
The chart was the same for everyone. The pips were the same. Only the size was different, and the size multiplied the result by 10 or by 100.
Losses grow the same way
The lot does not only multiply gains. It multiplies losses in exactly the same way. From October 1 to 28, 2026, EURUSD moved about 65 pips a day on average from low to high. On one lot, that is 65 × $10 = $650 of daily swing on average.
Losses grow with the size too. With 0.01 lot, the same average EURUSD day is a $6.50 swing. With one lot, it is $650. The pips are the same for everyone; the money depends on your size.
Recap
- The lot is the size of your trade: 1.00 = 100,000 units, 0.10 = 10,000, 0.01 = 1,000.
- One lot of gold is 100 ounces.
- One lot of EURUSD or gold is about $10 per pip. A micro lot (0.01) is $0.10 per pip.
- On USDJPY, one lot is ¥1,000 per pip; in dollars it changes with the price.
- Gains and losses grow with the size in the same way.
But how can a small account trade 100,000 euros? That is the next term: Leverage and Margin Explained. For more on trade size, see Position Size.
Frequently asked questions
What is 0.01 lot?
A micro lot: 1,000 units of the first currency, so 1,000 euros on EURUSD. One pip on EURUSD is then worth $0.10.
How much is one pip on gold?
On SocialCharts one gold pip is $0.10. One lot of gold is 100 ounces, so one pip is $10 on 1.00 lot, $1 on 0.10 lot and $0.10 on 0.01 lot.
Why does the dollar value of a USDJPY pip change?
The pip on USDJPY is paid in yen: ¥1,000 per pip on one lot. Its value in dollars depends on the price. At 157.82 it is about $6.34.
Does a bigger lot make price move more?
No. The move in pips is the same for everyone. The lot only changes how much money each pip is worth, for gains and for losses.
See the size of a move on a live chart
Open gold and measure a move in pips. Then multiply by $10 for one lot, or $0.10 for 0.01 lot.
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