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Measured datacapture #40 · 12 Aug 2026, 07:55 server1,474,795 readings · 23 instrumentsnext capture ~07:00 UTC daily↓ CSV

Exness Spreads — Measured, Not Advertised

Every figure below was recorded on Exness’s own MetaTrader 5 Standard feed by an in-terminal EA — the spread the platform actually quoted, not a marketing “from 0.0”. Dollar costs default to 0.1 lot, the size most retail accounts actually run — switch to 0.01 or 1.0 below.

XAU/USD (Gold)
26pts
$2.60 / 0.1 lot · 0.3% of daily range
EUR/USD
0.8pips
$0.80 / 0.1 lot · 1.6% of daily range
GBP/USD
1pips
$1.00 / 0.1 lot · 1.6% of daily range
BTC/USD
1000pts
$1.00 / 0.1 lot · 0.8% of daily range
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Standard account — the account measured here

A measured reading answers what a trade costs to open. It does not answer how large that trade may be. Size comes from a figure you set yourself: the cash amount of the account you accept to lose if the idea fails. Divide that amount by the distance to your invalidation level multiplied by what one unit of that distance is worth on one lot, then round down to the volume step. Cost is read; size is decided — and the two are settled separately.

Measured spreads — all 23 instruments in one table

Cost per
lot
InstrumentTypicalmin – p90Cost / 0.1 lotCost vs daily moveReadings
FX Majors
EUR/USDpips0.8— stable in sample$0.80
1.6%
14,816
GBP/USDpips1
0.4 – 1
$1.00
1.6%
26,260
USD/JPYpips1— stable in sample$0.63
0.7%
23,075
AUD/USDpips0.9— stable in sample$0.90
2.2%
10,215
USD/CADpips1.4— stable in sample$1.00
2.7%
9,607
USD/CHFpips1.3— stable in sample$1.60
2.4%
11,301
NZD/USDpips1.4— stable in sample$1.40
3.6%
8,531
FX Crosses
EUR/GBPpips1.3— stable in sample$1.76
6.8%
4,289
EUR/JPYpips1.6— stable in sample$1.00
1.1%
18,747
GBP/JPYpips2.2
2.1 – 2.2
$1.38
1.2%
27,389
AUD/JPYpips1.1— stable in sample$0.69
1.1%
18,542
Metals
XAU/USD (Gold)pts26
24 – 26
$2.60
0.3%
233,947
XAG/USD (Silver)pts3— stable in sample$15.00
1.4%
59,094
Energy
US Oil (WTI)pts2— stable in sample$2.00
0.6%
187,700
UK Oil (Brent)pts3.5
2.9 – 3.8
$3.50
0.9%
67,441
Indices
US500 (S&P 500)pts51
42 – 51
$0.05
contract size 1
0.6%
84,658
US30 (Dow)pts12
11 – 12
$0.12
0.2%
112,897
USTEC (Nasdaq 100)pts127— stable in sample$0.13
0.2%
255,139
DE30 (DAX)pts7— stable in sample$0.08
contract size 1
0.3%
48,675
JP225 (Nikkei 225)pts35
19 – 37
$0.00
Quoted in Japanese yen with a contract size of 1 index unit — a small contract, so the dollar cost per lot is naturally low; matches Exness's published contract specifications.
0.2%
94,447
UK100 (FTSE 100)pts99
99 – 300
$0.13
1.0%
38,390
Crypto
BTC/USDpts1000— stable in sample$1.00
0.8%
91,193
ETH/USDpts100— stable in sample$0.10
2.0%
28,442

Typical = the median of all readings. The min–p90 strip shows how far the spread stretched under load; a stable in sample badge means the spread never moved across the whole sample — on Exness Standard many instruments are quoted with stable target spreads, so identical min, median and p90 is expected there, not an error. Forex pairs are quoted in pips; metals, indices, energy and crypto in points — the cost column converts each instrument into the dollar cost of opening the selected lot size at the typical spread. Confidence dots: ●●● at least 2,000 readings, ●● at least 800, ● below that — treat single-dot rows as indicative. Dollar costs differ in magnitude because contract sizes differ: 1 lot of JP225 (Nikkei 225) is a contract of just 1 — a fraction of other instruments’ notional — so a cost of a few cents per lot is genuine, not an error; the “cost vs daily move” column is the fair cross-instrument comparison. Server Exness-MT5Trial11, captured 12 Aug 2026, 07:55 server time.

What this means for a small account

  • Lowest entry cost relative to the daily move: JP225 (Nikkei 225) — the spread takes about 0.2% of an average day’s range ($0.00 per 0.1 lot).
  • Highest: EUR/GBP — about 6.8% of the daily move is gone on entry; short-term trades there pay a premium on Standard.
  • Widest single reading in this sample: GBP/JPY at 29.2 pips around 20:00 server — around the daily rollover — opening positions in that hour costs more.

Spread through the day

DE30 (DAX) — average spread by server hour. Tightest 7, widest 65.04 pts. Sampled 00:00–23:00 server this capture.

7
7
7
7
7
7
7.06
7
7
7
7.16
7.29
7
7
7
7
7
7
7
36.84
56
56
65.04
50.24
000408121620
Tokyo · Asia
London
London–NY overlap
New York
rollover · thin
avg spread by server hourwidest hournot sampled in this capture

Hours are platform server time. Values are printed above each bar; hatched hours were outside this capture window — they are not zero, just not measured yet. Session bands are indicative (summer-time anchors).

Holding overnight — measured swaps

☪️
Trading swap-free? Exness offers swap-free (Islamic) status for eligible clients — where it applies, the overnight charges below do not apply. Eligibility and instrument coverage are set by the broker: see the Islamic account page.

Values shown per 0.1 lot — the lot toggle above rescales this table too.

InstrumentLong / nightShort / nightTriple dayHeld 5 nights (worse side)
EUR/USD−$0.58$0.00Wednesday ×3−$4.06
GBP/USD−$0.13−$0.14Wednesday ×3−$0.98
USD/JPY−$1.24−$0.36Wednesday ×3−$8.65
AUD/USD$0.00−$0.19Wednesday ×3−$1.33
USD/CAD$0.00−$0.53Thursday ×3−$3.72
USD/CHF$0.00−$1.28Wednesday ×3−$8.96
NZD/USD−$0.29$0.00Wednesday ×3−$2.03
EUR/GBP−$0.66$0.00Wednesday ×3−$4.63
EUR/JPY$0.00−$0.61Wednesday ×3−$4.30
GBP/JPY$0.00−$1.41Wednesday ×3−$9.84
AUD/JPY−$0.01−$0.14Wednesday ×3−$0.97
XAU/USD (Gold)−$5.32$0.00Wednesday ×3−$37.21
XAG/USD (Silver)−$4.20$0.00Wednesday ×3−$29.40
US Oil (WTI)$0.00−$5.19No triple day−$25.95
UK Oil (Brent)$0.00−$9.63No triple day−$48.15
US500 (S&P 500)−$0.14$0.00Friday ×3−$1.01
US30 (Dow)−$0.96$0.00Friday ×3−$6.71
USTEC (Nasdaq 100)−$0.58$0.00Friday ×3−$4.08
DE30 (DAX)−$0.60$0.00Friday ×3−$4.18
JP225 (Nikkei 225)$0.00$0.00Friday ×3$0.00
UK100 (FTSE 100)−$0.25$0.00Friday ×3−$1.77
BTC/USD−$1.26$0.00Friday ×3−$8.83
ETH/USD−$0.04$0.00Friday ×3−$0.26

Read from the platform’s contract specifications at the same capture (2026-08-12). Negative = a nightly charge, positive = a nightly credit; on the triple-swap day three nights are applied at once. “Held 5 nights” counts 7 charges where the instrument has a triple-swap day — a Monday→Saturday hold crosses it once; energies (US Oil, UK Oil) have no triple day, so five nights mean five charges — the realistic cost of a week-long position, not the per-night teaser. See swap rates for how swaps work.

What will this position cost?

Spread on entry
Swaps (7 charges)
Total cost

Swap charges assume the worst case: each run of 7 nights crosses one triple-swap day; energies (US Oil, UK Oil) have no triple day and charge once per night. Figures combine the measured entry spread with the captured swap for the chosen side — indicative, not a quote.

“From 0.0 pips” — which account is that, really?

The advertised “from 0.0” belongs to the Raw Spread account, which adds a fixed commission per side. This page measures the Standard account — the fair comparison is the all-in cost per trade:

Measured on this page

Standard — EUR/USD

$8.00 / 1 lot

0.8 pips typical spread · no commission · min deposit none on Standard accounts. Measured reading by reading on the platform’s own feed.

Advertised, for comparison

Raw Spread — EUR/USD

≈ $7.00+ / 1 lot

Advertised “from 0.0 pips” plus a commission of up to $3.50 per side ≈ a $7.00 floor per round turn. It works out lower only when the raw spread really holds near zero — Raw Spread is not measured on this page.

Median spread, capture by capture (40 captures)

InstrumentLatestTrendRangeData notes
EUR/USD0.80.8⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
GBP/USD11⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
USD/JPY11⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
AUD/USD0.90.9⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
USD/CAD1.41.4 – 1.6⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
USD/CHF1.31.3⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
NZD/USD1.41.4⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
EUR/GBP1.31.3⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
EUR/JPY1.61.6⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
GBP/JPY2.22.1 – 2.7⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
AUD/JPY1.11.1 – 1.9⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
XAU/USD (Gold)2624 – 26⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
XAG/USD (Silver)33⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
US Oil (WTI)22⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
UK Oil (Brent)3.53 – 3.7⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
US500 (S&P 500)5142 – 129⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
US30 (Dow)1212 – 38⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
USTEC (Nasdaq 100)127127 – 360⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
DE30 (DAX)77 – 49⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
JP225 (Nikkei 225)3532 – 64⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
UK100 (FTSE 100)9999 – 351⚠ closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded; closed market at capture — reading excluded
BTC/USD10001000
ETH/USD100100

One capture per day from the same MT5 feed. A narrow range means the median spread held steady across the period. Readings taken while an instrument’s market was closed or in pre-open are excluded by the pipeline — they are quote artifacts, not tradeable spreads. Affected instruments are flagged in the notes column. Exclusions in this sample: on 2026-07-04, 21 of 23 instruments; on 2026-07-05, 21 of 23 instruments; on 2026-07-11, 21 of 23 instruments; on 2026-07-12, 21 of 23 instruments; on 2026-07-18, 21 of 23 instruments; on 2026-07-19, 21 of 23 instruments; on 2026-07-25, 21 of 23 instruments; on 2026-07-26, 21 of 23 instruments; on 2026-08-01, 21 of 23 instruments; on 2026-08-02, 21 of 23 instruments; on 2026-08-08, 21 of 23 instruments; on 2026-08-09, 21 of 23 instruments. Spreads may fluctuate and widen due to volatility, news, and market conditions.

How this was measured

Broker’s own feedRecorded in-terminal on Exness’s own MetaTrader 5 Standard pricing feed — the quotes the platform itself served, not a third-party estimate.
In-terminal EAAn MQL5 expert advisor records the quoted bid and ask throughout the session; sampling density varies by instrument — quiet instruments produce fewer readings, which is why the counts differ.
VerifiableThe per-instrument summary ships as a CSV download; the dollar costs are derived from the platform’s own contract specifications.
Bounded windowA capture covers only the hours the terminal session was open — unsampled hours are shown hatched in the chart, never guessed.

The numbers above are measurements, not promises.

They come from the Standard account this page tracks — min deposit none on Standard accounts. Spreads vary with market conditions. Last updated 2026-08-12.

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Frequently asked questions

Why do min, median and p90 coincide on so many instruments?
On Exness Standard many instruments are quoted with stable target spreads — the platform can hold a pair at the same spread for an entire session, so identical min, median and p90 is expected behaviour there, not an error. Pairs like GBP/JPY and USD/JPY show real variation, which the min–p90 strip makes visible.
How are these Exness spreads measured?
An MQL5 expert advisor runs inside MetaTrader 5 on Exness's own Standard feed and records the quoted bid and ask throughout the session. The spread shown is what the platform actually quoted — not an estimate and not the advertised minimum.
How often is this page updated?
A new capture is taken daily (around 07:00 UTC) and the page is rebuilt with it. The current figures come from 1,474,795 readings recorded up to 2026-08-12 on server Exness-MT5Trial11.
Do these spreads apply to any Exness account?
The figures track the Standard account. Other account types price differently, and spreads are variable: they widen around high-impact news and the daily rollover, and past readings do not guarantee future spreads.
How much does it cost to hold a position overnight?
Combine the entry spread with the nightly swap for the chosen direction — the position-cost calculator above does exactly that for any lot size and number of nights, including the triple-swap day where the instrument has one (energies charge once per night, with no triple day). Swap-free (Islamic) status, where it applies, removes the overnight charges.
Why are costs shown per 0.1 lot by default?
Most retail positions run 0.01–0.1 lots, so a per-1-lot figure overstates the cost a typical account actually pays. The toggle above the table rescales every dollar figure to 0.01, 0.1 or 1.0 lots; the CSV keeps raw per-1-lot values.
How large a position does a loss budget allow?
Multiply the distance to your invalidation level by what one unit of that distance is worth on one lot — that is what a full lot would lose at the level. Divide the budget by that product and round down to the volume step. The rounded figure is the position size.
Is the position size set by the spread shown on this page?
No. The measured figures describe what a position costs to open and to hold. The size is set by the loss budget you fix yourself, the distance to the invalidation level and the value of one unit on one lot. Cost and size are two separate questions about the same trade.
Why does the same distance give a different number of lots on another instrument?
Because one unit of price movement is worth a different cash amount on one lot of each instrument — contract sizes differ. With the budget and the distance unchanged, that single factor is enough to change the volume.
Should the invalidation level be moved so a larger size fits?
No. The level belongs to the idea and the size is what is left once the level is fixed. Moving the level to make room for a size reverses the sequence and takes away the reason the level was placed there.
What is the volume when the arithmetic gives less than the smallest allowed?
There is no position. The two honest responses are a larger budget tier or leaving the idea alone; forcing the level closer until a permitted volume appears is a larger position described with a smaller number.
Should the cost of entry be counted inside the loss budget?
Keep them separate. The budget is what you accept to lose if the idea fails; entry cost and overnight financing are what the position charges regardless of the outcome. Mixing them makes both harder to check.
Does the budget change when the readings on this page change?
It does not have to. The budget is a decision about the account, and it holds while conditions move around it. What changes with conditions is what a position costs, which is read from the tables above rather than decided.
How is a budget tier different from a fixed lot size?
A fixed lot size keeps the number on the ticket steady and lets the cash at stake drift with the instrument and the distance. A budget tier keeps the cash at stake steady and lets the number on the ticket move. Only one of the two is a limit.

The loss budget is a decision, not a reading

Everything on this page is measured and handed to you. The budget is the one number in the chain nobody can hand over: it is the cash amount you are prepared to lose on one idea, and it is fixed before the instrument has been chosen. Fixing it in cash rather than in lots is what makes two unrelated ideas comparable at all.

A budget that moves with conviction is not a budget. The whole point of writing it as a cash figure is that it survives a chart that looks persuasive: the persuasion is allowed to change what you trade, not how much of the account is on the table.

Written down alongside the idea, the budget also makes the size checkable later. Three figures and one division are quick to repeat, and repeating them is how you find out that the volume actually entered was not the volume the budget allowed.

Why the same distance is a different size on different instruments

One unit of price movement is not worth the same on one lot everywhere. Contract sizes differ, so the identical distance to an invalidation level turns into a different cash loss per lot depending on what is being traded. This is a property of the contract, read from the platform specification, not something a trader chooses.

The practical consequence is blunt: a volume that fits the budget on one instrument overshoots it on another, and the overshoot is invisible unless the division is redone. Nothing about the ticket looks different.

So the quantity that should stay constant when you move between instruments is the cash at stake, never the number of lots. A habitual size is a habit about the platform; a budget is a habit about the account.

Distance first, size second, never the other way round

The sequence matters more than the formula. Placing the invalidation level from the idea and then letting it decide the volume keeps the level honest. Choosing the volume first and then putting the level wherever that volume tolerates inverts the arithmetic and quietly removes the reason the level existed.

The inverted version is easy to spot afterwards: the level sits at a round distance rather than at a place the chart argued for, and it moves whenever the size does.

If the volume that comes out feels too small to bother with, the lever is the budget, not the level. Raising the budget is a decision you can see and reverse; pulling the level closer looks like precision and is only a larger position wearing a smaller number.

A ladder of budgets instead of one habitual size

Two or three cash tiers work better than a single figure: an ordinary idea takes the middle tier, a thin one takes the smallest, and the largest is reserved rather than default. The volume is then never chosen directly — it falls out of whichever tier the idea earned.

Because the tiers are cash, the volumes they produce differ from instrument to instrument, and that difference is the mechanism working rather than an inconsistency to iron out.

The tier is picked before the chart is opened. That ordering is the part that survives a fast market: a size cannot be argued upward while the price is moving if the figure that produced it was written down before the price was on screen.

From a loss budget to a volume, in order

  1. Fix the cash amount you accept to lose on this idea, before anything else is decided.
  2. Choose the instrument and note the units its price is quoted in.
  3. Place the invalidation level from the idea alone, without looking at what volume it will allow.
  4. Measure the distance from the intended entry to that level, in those quoting units.
  5. Multiply the distance by the value of one unit on one lot: this is what a full lot loses if the level is reached.
  6. Divide the budget by that product and round the answer down to the volume step.
  7. If the rounded volume is zero, the budget and the distance do not fit together — raise the budget or leave the idea, but do not move the level.

None of these seven lines depends on the readings above. The readings answer what a position costs to open and to hold; this sequence answers how large it is allowed to be.

The inputs of a position size, and who sets each one

InputWho sets itUnit it is measured in
Loss budget for the ideaYou, before the instrument is chosenCash, in the account currency
Distance to the invalidation levelThe idea, read off the chartThe units the instrument is quoted in
Value of one unit of distance on one lotThe contract specificationCash per unit, per lot
Volume step and smallest permitted volumeThe account typeLots

Only the first row is a decision. The other three are read, and the volume is what the four of them leave.

Same budget, two ideas — what moves the volume and what does not

What differs between the two ideasEffect on the volumeEffect on the cash at stake
A wider invalidation distanceSmaller volumeUnchanged, which is the whole point
A tighter invalidation distanceLarger volumeUnchanged
An instrument whose unit is worth more on one lotSmaller volumeUnchanged
A larger budget tierLarger volumeLarger, by the ratio of the tiers
A coarser volume stepRounded further downSlightly below the budget

Holding the cash at stake steady while the volume moves around is exactly what sizing from a budget is for.

Related Exness pages