do brokers even use standadized lot sizes anymore??

[Irukandji]

hey

this is not an NT8 question per se, but seemed a good place to find an answer! I was playing with NT8 linked to IB and it seems I can choose to buy or sell as many "units" as I like - 250, 500, 725.. whatever.

It used to be that position size was limited to standard, mini, micro or even nano lot sizes

Did something changer in the last few years while I was out of the loop??

Thanks!

[QuantKey_Bruce]

Yes, each broker has a minimum order size for spot forex and things like micro bitcoin positions. It varies by broker. But, generally, a "full-size lot" e.g. 100,000 EUR/USD is rarely referenced these days because the current arrangements are more flexible than that for scaling. You will find that options are based on standard sizes though. This is because there would be too small of an audience to list an exchange-traded option for an oddball size like 37,891 EUR.

[Irukandji]

Yes, each broker has a minimum order size for spot forex and things like micro bitcoin positions. It varies by broker. But, generally, a "full-size lot" e.g. 100,000 EUR/USD is rarely referenced these days because the current arrangements are more flexible than that for scaling. You will find that options are based on standard sizes though. This is because there would be too small of an audience to list an exchange-traded option for an oddball size like 37,891 EUR.

the thing is, I was on the SIM101 account and it let me enter odd lots like 500 and 275 - is that just because it's sim ...? Or is it actually possible now because "muh computers"... !

thanks.

[QuantKey_Bruce]

The SIM account likely has a minimum and round size of 1. A live broker may have different minimums and chunk sizes e.g. it could be something like .00001 BTC minimum or 1,000 spot EUR minimum.

[NinjaTrader_ChristopherJ]

The Sim101 account is filled by the internal simulation engine as opposed to being to sent to a broker server therefore there are no restrictions on the order quantity when using the simulation account within NinjaTrader.

[Irukandji]

The Sim101 account is filled by the internal simulation engine as opposed to being to sent to a broker server therefore there are no restrictions on the order quantity when using the simulation account within NinjaTrader.

Right OK - so when live account I will need to use mini or micro lot sizes then? thx

[NinjaTrader_ChristopherJ]

Right OK - so when live account I will need to use mini or micro lot sizes then? thx

This would be dependent on the broker therefore I would suggest contacting them directly to verify if they have an restrictions on order quantities when trading live.