Forex PIP Calculator
To calculate your pip value, simply select your currency pair from the drop list, enter the contract size, enter the current price and push the Calculate button.
Note: MetaTrader calculates the value of a pip at the price a ticket was opened. Thus, the value-per-pip may differ between 2 trades on the same currency pair.
What is a "PIP" ?
A pip represents the smallest incremental move an exchange rate can make. Depending on context, a change of 1 pip is normally one basis point or 0.0001. However, it is .01 in the case of USD/JPY and other Yen-based pairs.
Note: MetaTrader calculates the value of a pip at the price a ticket was opened. Thus, the value-per-pip may differ between 2 trades on the same currency pair.
What is a "LOT" ?
Forex contracts are referred as “lots.” A micro lot is equal to 1,000 units of the base currency, a mini lot is equal to 10,000 units of currency and a standard lot is equal to 100,000 units of currency. A trader placing a trade of four standard lots is therefore trading 400,000 units of the base currency in the market. Because iBull Capital offers leverage of up to 200:1, a trader would only need to deposit $2,000 to place that a trade in USD/JPY and control 400,000 units of US Dollars ($2,000 x 200 = $400,000).