Lot is a standard unit of measurement for trading positions.
1 standard lot = 100,000 units of the base currency for currency pairs.
For other trading instruments:
- 1 standard lot of CFD on oil equals 1,000 barrels
- 1 standard lot of XAUUSD equals 100 oz
- 1 standard lot of XAGUSD equals 5,000 oz
You can check the lot size of other instruments here.
1 cent lot = 1,000 units of the base currency, i.e. 100 smaller than the standard lot.
In the R StocksTrader platform, trading volume is measured not in lots but in units of the base currency or the assets.