If you have been involved in the world of trading for a long time, then you must be familiar with the term "nano lot". However, quite a few people still don't know what nano lots are. Not much different from micro lots, nano lots allow traders to open positions with very small lot sizes.

As the name suggests, nano lots are obviously smaller in size than micro lots. Account types such as cent, micro, and nano are where beginner traders can practice trading without large capital. Nano lot sizes usually start from 0.001 (100 units) or smaller. For comparison, 1 standard forex lot has 100,000 units. Quite significant, isn't it?

Here's a clearer comparison:

Standard: 1 lot
Mini: 0.1 lot
Micro:0.01 lot
Nano: 0.001 lot and smaller

Apart from being suitable for beginners, experienced traders who want to try new strategies can also use nano lots. The smaller the lot size, the smaller the trading risk. That is why nano lot is suitable for testing new strategies and indicators in a live account. However, it must be noted that this trading size also produces small profits. This should not be a big problem if the nano lot user doesn't deviate from its true purpose, which is to help them familiarize themselves with real forex market conditions.

With nano lots, traders can learn to trade using real money without the risk of losing big in the forex market.

The following is a list of brokers that provide nano lots:

XM

XM is a broker that operates under XM Global Limited. Since its founding, this broker has attracted a lot of attention with various benefits for traders such as low spreads, superior client service, and various promotions. Currently, XM has served clients in more than 190 countries and provides services in 20+ languages.

XM Broker offers 3 main accounts for forex trading, one of which is capable of providing nano-sized trading. The account type in question is Micro with a trading volume of 1,000 units per 1 lot. So if a trader uses the lowest lot number in MT4 (0.01), then they can open a position with a size value as low as 10 currency units (0.00001 in standard lot units).

InstaForex

InstaForex provides cent accounts with nano lots down to 0.0001 lots. This account is specifically provided for beginner traders and those who want to test new strategies without wanting to take high risks. The leverage provided is from 1:1 to 1:1000.

InstaForex was founded in 2007 and has gained international recognition since. Apart from providing nano lots and trading conditions suitable for newcomers, this broker has various attractive bonuses, such as a 55% deposit bonus and a welcome Startup bonus with varying prize amounts.

FXOpen

FXOpen has been operating since 2005 to serve retail traders with a variety of beginner-friendly conditions such as low deposits and competitive spreads. Apart from that, this broker is successful in providing forex and CFD trading services with transparent pricing and reliable customer service.

In 2006, FXOpen became one of the first forex brokers to offer Micro and Swap-free account types. Shortly after, this broker pioneered a crypto account to facilitate trading digital currencies such as Bitcoin and Ethereum as CFDs.

The FXOpen Micro Account is basically provided with cent base currencies, thus allowing traders to trade with nano lots. This account type is equipped with Instant Execution, a minimum deposit of just $1, and floating spreads with 5-digit pricing.

OANDA

OANDA is a broker known for having unrestricted lots. This means traders can use the smallest lots possible with this broker. In addition, OANDA is a commission-free broker with a minimum initial deposit of $1. This makes OANDA very suitable for beginner traders. Scalping and hedging techniques as well as the EA (Expert Advisor) are also allowed.

Apart from nano lots, there is another way to trade with ultra-small risks in a cent account. What is it and which brokers provide it? Check it out at List of Forex Brokers Providing Cent Accounts.