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FOREX | Pip Value Calculator
What is a pip ?
A pip in Forex is the minimum price movement of a currency pair.
For example, in the JPYUSD it is 0.01 and in the GBPUSD it is 0.0001. A pip is then worth $10, $1 or $0.1, depending on the size of lots you trade:
| Lot size | Name | Pip value |
| $100,000 | standard | $10 |
| $10,000 | mini | $1 |
| $1,000 | micro | $0.1 |
This is okay for cross rates that are against the US$ (US$ base currency), but what if your trading account is based in US$ and you wish to trade, for example, the GBPJPY? How do you know what a pip is worth in US$ when you are trading a cross rate that does not have its base currency in US$. That is where things get more complicated!
You must convert the base currency - the second currency in your cross rate - JPY in our GBPJPY example, back into US$. To do this, you use the current USDJPY rate. This is where the Pip Value Calculator (below) helps.
Pip Value Calculator
First, select your trading Account currency (normally US$); then, choose your Currency pair; then, input your Lot size (100,000, 10,000 or 1,000); then, if asked, input the required Current price; finally, click the Calculate button:
Now you have the pip value of your current cross rate against your base currency. Remember, this is the value of each pip as your trade moves either with or against you. This is vital for calculating your current profit (or loss) on your current trade.
Risk Disclaimer and Disclosure Statement
Trade at your own risk. The information provided here is of the nature of a general comment only and neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. You should seek appropriate advice from your broker, or licensed investment advisor, before taking any action. Past performance does not guarantee future results. Simulated performance results contain inherent limitations. Unlike actual performance records the results may under or over compensate for such factors such as lack of liquidity. No representation is being made that any account will or is likely to achieve profits or losses to those shown. By purchasing the MTPredictor program, you acknowledge and accept that all trading decisions are your own sole responsibility, and MTPredictor Ltd, MTPredictor.com or anybody associated with MTPredictor Ltd including S. E. Griffiths and A. P. Beckwith cannot be held responsible for any losses that are incurred as a result.
All trades shown on this web site are hypothetical, they were not executed. There are just shown for illustration and training purposes only.
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