Do you live in South Africa? Then please go to HotForex ZA (South Africa) main introduction page.
Yes, contract Sizes are different for each CFD symbol on HotForex MT4.
Here are the contract size of all financial instruments offered by HotForex.
1 lot size (Contract Size)
|Forex Currency Pairs||100,000 units|
|Natural Gas||1,000 MMBtu|
|UKOil &USOil||100 Barrel|
|XAG (Silver)||1,000 ounces|
|XAU (Gold)||100 ounces|
|Palladium||100 Troy Oz|
|Platinum||50 Troy Oz|
|Sugar #11||112000 Lbs|
|Stock CFDs||100 shares|
|Index CFD||1 Index|
Contract sizes are very important when calculating margin requirements to trade them.
If you like to trade XAUUSD(Gold), then you may need to calculate the margin requirement with the below formula:
For example if an account open 1 lot (or 100 ounces) of gold the required margin will be the following:
100 * 1585 /100 = $1585
The pip value for a 1 lot position is $1 per pip
The contract size directly affects the required margin for your positions.
You can find out how much margin is required open a position, in the Official Website.