Micro lots are the smallest tradeable lot available to most brokers. A micro lot is a lot of 1000 units of your account funding currency. If your account is funded in U.S. dollars, this means that a micro lot is $1000 worth of the base currency you want to trade. If you are trading a dollar-based pair, 1 pip would be equal to 10 cents. Micro lots are very good for beginners that want to keep risk to a minimum while practicing their trading.

Yes micro lots are best for those just starting out in trading because since the amounts are small you would automatically be keeping your risks controlled.

A micro lot represents 1000 units of the base money in a forex exchange. The base cash in the pricipal money in a couple or the cash that one purchases or sells. Exchanging miniature part empower retail merchants to exchange relatively little additions.

At the point when a financial backer submits a request for a miniature percel, this implies they have submitted a request for 1000 units of the money being purchased or sold. for instance, in the eur/usd money fair, the euro is the base cash and the dealer either purchases or sells 1000 euros.