Lots

What is a lot in forex?
Currency pairs are traded in what we call lots. We have 3 most common types of lot. 

1: Standard lot size
2: Mini lot size
3: Micro lot size. 

One standard lot is equal to 100000 units of the base currency. One mini lot is equal to 10000 units of the base currency. One micro lot is equal to 1000 units of the base currency.

In simple terms, that’s what a forex lot means