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 order price entered ([Price], [Trigger Price], [Take-Profit Price] or [Stop-Loss Price]) and the market price, which determines whether traders can place pending limit orders, stop-loss orders, or take-profit orders. It is measured in points (pt), which represent the last digit (the third decimal place for yen pairs or the fifth decimal place for other pairs) of the market price.
For different order types, the rules are as follows:
Limit orders are prohibited when the distance between [Price] and the Market Price or the distance between [Price] and [Stop-Loss Price] or [Take-Profit Price] falls within the Limit & Stop Level.
Stop orders are prohibited when the distance between [Trigger Price] and the Market Price or the distance between [Trigger Price] and [Stop-Loss Price] or [Take-Profit Price] falls within the Limit & Stop Level.
Stop limit orders are prohibited when the distance between [Trigger Price] and the Market Price, the distance between [Price] and [Trigger Price], or the distance between [Price] and [Stop-Loss Price] or [Take-Profit Price] 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] or [Stop-Loss Price] refers to the price you wish to enter for an order in the moomoo app.
Freeze Level refers to the distance between the order price entered ([Price], [Trigger Price], [Take-Profit Price] or [Stop-Loss Price]) or the transaction price and the market price, which determines whether traders can modify or cancel orders or modify or close positions. It is also measured in points (pt), which represent the last digit (the third decimal place for yen pairs or the fifth decimal place for other pairs) of the market price.
Any modifying or canceling orders is prohibited when the distance between [Price] for limit orders and the Market Price or the distance between [Trigger Price] for either stop orders or stop limit orders and the Market Price falls within the Freeze Level.
Similarly, any modifying or closing of positions is prohibited when the distance between [Stop-Loss Price] or [Take-Profit Price] and the Market Price falls within the Freeze Level.
* [Price], [Trigger Price], [Take-Profit Price] or [Stop-Loss Price] refers to the price you wish to enter for an order in the moomoo app.