I would like to ask, which account type is used in demo contest? Is it, mini, micro, or standard? I would be happy and appreciated if anyone could answer my question. Thanks.
Hehehe...I believe you are mixing lots with the type of account. In demo-it is irrelevant because you can do whatever you want.
With real account, you will ask the broker what type of account they opened up for you or with what kind of lots you can trade and if they can open you to trade with all types of lots. :)
As far as competition concerns, you can open micro lot, mini or standard lot. It is totally up to you. :) hehe...
I hope this helps you see things clearer.
"Failure is simply the opportunity to begin again, this time more intelligently." ~Henry Ford~