How can I find or calculate the pip value on my trade?

The pip value on your trade depends on a number of variables:

• The lot size of your trade (1K/micro, 10K, 6K, etc.)
• The denomination of your account (Is your trading account in USD? GBP? EUR? etc.)
• The specific pair you are trading

The easiest/simplest way to check the pip value of a specific trade size for your account is to open the 'Create Market/Entry Order' window in Trading Station, enter the pair and lot size you want, and then check what is displayed next to 'Per Pip' - as that is the current exact cash value you will be credited/debited per pip for that trade.

For example, below is a picture where we choose to check what the per pip value/gain/loss will be on an account based in USD, when placing a 1K EUR/USD trade - 10 cents:

Here is an example of how to calculate the value of 1 Pip for one 10k lot of EUR/USD where the base currency of the account is USD:

1. Start with 10,000.  Multiply 10,000 by .0001 (since 1/10,000th is a pip for all pairs [except JPY pairs]). 10,000* .0001 = 1.
2. You now know each pip is worth 1 USD. That will be valued in the “counter currency” (second currency) of the pair. 
3. In this example, we are using the EUR/USD, so USD is the counter currency of the pair.  Here, 1 pip is worth 1 USD dollar for 1 - 10K lot of EUR/USD. 

To learn how to calculate Pip value when your base currency is not the same as the second currency in the pair, see the next example.

Here is an example of how you can calculate the value of 1 Pip for 1 - 10K lot of EUR/GBP where the base currency of the account is USD:

1. Start with 10,000. Multiple 10,000 by .0001 (since 1/10,000th is a pip for all pairs [except JPY pairs]). 10,000* .0001 = “1”.
2. You now know each pip is worth “1”. That will be valued in the “counter currency” (second currency) of the pair.  In this example, we are using the EUR/GBP, so GBP is the counter currency of the pair. 
3. Take the current exchange rate of the GBP/USD and multiply it by “1” to calculate the value of 1 pip in your base currency.
4. In this example, GBP/USD is trading at $1.66 and 1 Pip for EUR/GBP would be equal to $1.66 USD.