Hi all, I am very much a newbie and am trying to work out size of Lots in Indices trading for Index Funds. It doesn’t seem to be as straight forward as it is for forex. For example, the cost of one Lot of Spain’s Ibex35 index is different to that of one Lot of the German Dax. This gets particularly confusing on the MT4 platform which is what I am currently using. When placing a buy order for the Ibex 35, the MT4 order page informs you that you will buying one Lot of that index. But it does not tell you what the size of that Lot is, or how much it would cost you. I only learn what it cost me after I place the trade and then calculate how much of my margin it has eaten into. I presume one Lot of Ibex35 is a set number of points of that index? Is there anywhere this information is displayed more clearly? Or some way of working it out? I would also like to know what the value of each PIP in the Ibex 35 is. Thanks in advance!
If it is anything like MT5, there should be a spec page you can get to through the symbol list. Mt4 looks a bit different, though you should be able to find it. https://www.metatrader4.com/en/trading-platform/help/service/symbol_spec