Help,Margin,leverage and lot

Jadhanna2

Trader
Jul 29, 2012
1
0
12
Hey guys
I am using metatrader 4 on iphone
my broker is instaforex
I have 10$ in my balance
When i want to buy some € (EUR/USD) it shows me "volume" what does that mean ? Does it mean lot ?
I heard that 0.01 lot = 1000 and 0.1 lot = 10000 and 1 lot = 100 000
The leverage i am using is 1:100
I bought some euros, i typed "0.02" in the volume, that means 2000 x 1.2301 = 2460.2 €
I have 10$ in my balance and that means 10$ x 100= 1000$ (leverage)
How did i purchase 2000 and i only have 1000$ ?
And what does margin means ?
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,721
1,396
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Odesa
www.earnforex.com
It is possible that you have a mini/micro account with InstaForex, then 0.02 could be 200 or even 20 euro. You should find out the actual lot size of your account.

Margin is the part of your balance that you use to open a position and keep it open.