Zorro has recently entered 2 trades: Long 2 EUR/USD & Short 1 USD/CHF.

However, TS reports these trades as 20 and 10.

Both are Z2 CT's, if that matters.

2 mini lots are 20,000 contracts.

I thought the demo account was a micro account? & Zorro was set for micro unless I changed something (which I didn't...)?

More generally, how do I know if a trade is going to execute as micro, mini, or whatever?

And what symbols will be 1:1 between Zorro & TS and what symbols will be at what other ratios?

A mini lot is 10,000 contracts, a micro lot is 1000 contracts. So if TS reports 20 and 10, you have a mini account, not a micro account.

The "micro" and "mini" is for currencies only. Indices are always 1 lot per contract, regardless of the account.

I also find the concept of lots extremely confusing, but that's the way the brokers do it.

*sigh* Now I'm really confused... I thought I read that FXCM had gotten rid of micro accounts, folding them into their regular products so that all accounts had essentially become micro accounts. There's also this just pulled from their web site:

"What is a lot?

A lot is the smallest trade size available. FXCM accounts have a standard lot size of 1,000 units of currency. Account holders can however place trades of different sizes, so long as they are in increments of 1,000 units like, 2,000, 3,000, 15,000, 112,000 etc."

If the standard lot size is 1,000 & Zorro trades 1 lot, how did it become 10,000? Is the 10x multiplier in Zorro? Or in TS? I don't see anywhere that TS says the account is mini, micro, or anything else...

My TS has two trades open right now. One says 3 and the other -3 (which is a short sell).

I haven't seen any large trades, like 10 or 20 yet.

If you click the "report" tab on TS it will answer your question, I think.

Thanks GlennR. I ran the report, but can't see answers... It shows the same 20,000 & 10,000 trade sizes. Were you thinking of someplace in particular on the report?

If this is the same account that you gave us for checking the equity problem, it's a mini lot account. The "10" that you see means 10,000 contracts, equivalent to 1 mini lot.

A standard lot size is not 1,000, it's 100,000 units. However the FXCM demo accounts use mini and micro lots only, I don't think that they offer standard lot demo accounts.

jcl,
I'm a little confused (what's new?).

I thought that a standard lot = 100,000, a mini lot= 10,000 , and a micro lot = 1,000

So, if 3 = 3,000 or 10 = 10,000 that would mean they are Micro lots, right?

Yes, same demo account. How does one tell from Zorro, TS, or wherever (before placing the 1st currency trade!) that it's a mini/micro/whatever lot account? I don't actually see a "10" anywhere...

Re. "standard lot size", the above is a quote from FXCM's web site...