How to calculate PIP value?  

The example below shows 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, please see the example below.

The example below shows 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.