Reading an instrument's specifications in MT5

The essentials

Specifications describe contract size, precision, tick, allowed volume, sessions and other symbol parameters. Similar names may represent different instruments. Read the data on the server and account you would use.

Understand the mechanism, not just the definition

Specifications connect a quote with monetary exposure. Find contract size, precision, tick size and value, minimum volume and step, sessions and margin calculation. Identical names can hide different parameters. Keep the date because symbol conditions can change.

Example and verification

Find the instrument in Market Watch and open specifications through its context menu. Record contract size, minimum volume, volume step and funding. Check whether fields use points, money or percentages before calculating.

Worked case, step by step

With minimum and step both 0.10 lot, 0.15 can be invalid even though it exceeds the minimum. It may be valid for a symbol with 0.01 minimum and step. Prices also need to respect tick size. Do not round a calculated size upward without examining the resulting exposure.

What to verify when applying this

Compare the same product and currency. Ask the broker about missing data. NAS100, XAUUSD or EURUSD is not a universal specification, and not every lot has the same value.

Practice: verify it in your environment

Learn by observing the process and keeping its data. Complete this practice in demo or using documentation, without sending real orders or adding capital for the exercise. Record differences between the example and your account specifications.

1. Open Specification from Market Watch and record units, not just numbers.
2. Check valid and invalid volumes in demo without changing contract data.

Test your understanding

Try the question before revealing the answer. Justify the conclusion and its assumptions rather than memorizing a number.