Contract Size

Contract size is the standardized number of units of the base currency (or underlying asset) that one lot represents — 100,000 units for a standard forex lot, though it varies by instrument for CFDs on indices, commodities, and shares. It's the figure used, along with the current price and pip value, to calculate a position's notional value and its profit or loss per pip. Contract sizes differ across brokers for the same CFD instrument, so comparing position sizing or risk between two brokers requires checking each one's specific contract specifications.