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For these gold and silver products http://www.fxdd.com/us/en/products/metals/, how many micro lots are required so a penny move is worth a dollar? How much leverage does that equal?

I've traded products such as GLD and SLV where 100 shares equal one dollar per penny move. But I'm not sure what that translates into for the above micro lots.

As an example, if I have a $10,000 account, what is the impact on it if I have enough micro lots to make a penny move in silver equal one dollar?

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The standard lot for Gold shows as 100oz, Silver 1000oz.

The broker uses the term 'mini' to be 1/10th the contract size and micro, 1/100th, in the description of currency lots. Their site offer no definition for metal, that I can see.

Have you called customer service to ask?

In the real world, milli- is 1/1000 and micro- is 1/1,000,000 or one millionth. It would seem the proper deci-lot didn't occur to them.

  • I haven't called them yet since it was the weekend. I will call them though. – 4thSpace Oct 28 '13 at 0:48

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