Reduce/remove FX lot sizes

FX orders requiring a minimum lot size of 1000 units unnecessarily increases barrier-to-entry to interacting with the FX markets. I propose reducing the minimum lot size (to 100, or 10) or removing them entirely to enable more people the capability to interact with these markets. At present the orderbooks are nearly empty and trades are very rare.

Enjoying the game thus far. Thanks :slight_smile:

Hi @rss. I’m fairly new, so I may be mistaken, but I believe you can enter FX orders to the ten-thousandth decimal place (.000X). By doing so, you can specify orders more precise that the integer level of currency. That is, if 1 lot is 1000 currency, then .5 is 500, .07 is 70, .001 is 1, and .0002 is 0.20. A lot order of 1.5712, therefore, would equal 1571.20 currency.

Others with more experience may be able to shed more insight on this, but I believe that’s how it works.

Edit: This video, around the three minute mark, explains this feature.

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Precision of the price at which the order executes is meaningless.

You cannot buy\sell small quantities of any currency when they are trading at their normal prices. The minimum transaction size is in the real world about 900 units.

I think a reduction to 100 unit lot sizes would be more apt here. As well as a raise to the limit above 10,000 lots per order ($1 million per order). Players are getting pretty rich and I can especially see there being demand for very large FX transactions which are just a pain to have to spread across multiple orders once the FX fee gets reduced to 10bp in a few weeks.

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I’m pretty sure the reason for the order books being pretty empty isn’t the lot size but the fee (which is thankfully going to be reduced, even though I’d like it removed completely) and the dual order books.

The lot size might seem like a big issue for a new player, I assume, but new players don’t use the FX much at all anyway, even with a lot size of $1.