Units per 1 lot vary on non-forex pairs, please check with your broker
In MT4 and MT5 right click a symbol and then click Specification. The Contract Size field tells how many units are in one lot.
Use our precise pip calculator for cryptocurrency pairs, forex, indices and metals, using live market rates, account base currency, lot size and traded pair.
What are Pips in Trading
Pips in trading is the definition of the smallest price change a currency pair (and other financial instruments) can make, except for fractions of a pip or "pipettes".
For the majority of the currency pairs, 1 pip is 0.0001. For currency crosses with the Japanese Yen such as the EUR/JPY, 1 pip is 0.01. For metals, Silver and Gold 1 pip is 0.01.
As an example, when the GBP/USD moves up from 1.3935 to 1.3936, the change in price is 1 pip. With 5-digit brokers, if the GBP/USD moves up from 1.39355 to 1.39360, the change in price is half a pip (0.5 pip).
How to Calculate Pips
Pip values are constant, if the trading account currency is USD. But for trading accounts in other currencies, such as the EUR or the GBP, pip values can vary, depending on the current market rate for the EUR/USD, or GBP/USD, for example.
Pips can be calculated manually, for trading accounts in other currencies, and for any lot size, with the following formula:
For example, we want to calculate the pip value, for a trading account in GBP, for a position size of 1 lot (100,000 currency units) for the GBP/USD cross, currently trading at 1.3935.
Using the above data, we will complete the formula to calculate the pip value:
Thus, the pip value for 1 lot of GBP/USD, with a market rate of 1.3935, on a GBP trading account, is currently £7.18.
Now you know how to calculate pips manually, for trading accounts in different currencies. But there's a much easier way to calculate pips, for cryptocurrencies crosses, forex, metals and indices. Simply input your data on our Pip Calculator!
How to Use our Pip Value Calculator
Let's see how to use our pip calculator, field by field, to get the most accurate pip value for the available assets.
Pips: By default, the calculator is set to 1 pip. But it can be changed to calculate fractions of a pip, like 0.5 pip.
Currency pair: Select from the most popular cryptocurrencies (ETH, BTC, LTC, XRP, DOGE, etc.) against the main fiat currencies, or the Major forex crosses, Minor pairs, the most popular indices or Gold/Silver. Let's choose, for example, the GBP/USD.
Lots: One lot in forex is 100,000 currency units, but units per 1 lot vary for non-forex pairs. In the Lot field there's the option of calculating the pip value based on the lots traded or the units traded (check with your broker the contract specifications). Let's choose, for example, a trading size of 10,000 units (0.10 mini lot).
Deposit currency: The pip calculator is ready for most deposit currencies, including accounts in cryptocurrencies and fiat currencies, from AUD to ZAR. We will select GBP as the deposit currency, for our example.
Now, we click the "Calculate" button.
The results: The pip calculator uses live market quotes from the current interbank rate, in a 5-digit format, and it will calculate the current pip value for the selected account base currency, in our example, the GBP.
Thus, for a position size of 0.10 lot of GBP/USD, with a market rate of 1.39355, on a GBP trading account, the pip value is currently £0.7176.
Add this Pip Value Calculator to Your Website
Our set of calculators use live market rates, allowing traders to get the most accurate calculations possible. These calculators work with most forex pairs (Major and Minor crosses), world indices, metals and with the most popular cryptocurrencies: BTC, DOGE, XRP, LTC, ETH and many more.
Not only it is possible to calculate with precision the pip value for the DOGE/USD, or the margin required to open a trading position of 0.10 lot EUR/USD, for example, but also, these great calculators are localised in 23 different languages, including Chinese, Russian, Arabic, and Japanese.
With a user-friendly interface and an intuitive design, these tools can be easily customized and embedded with any web page. The great advantage of our tools is that they are completely unbranded, without any 3rd party logos. Plus, these tools can be be fully customized to match the colour scheme and the layout of any web page.
If you consider that this complete suite of calculators might create added value for your web pages, or to simply complement a "Tools/Calculators" section of your portal, you are free to embed them on your website.
All the widgets can be used and embedded as they are, or they can be fully customized to suit your website’s colours. After configuring the settings, simply copy/paste the final code to embed the tool/calculator widget on your web page.
Check the CBFX pip calculator at https://www.cashbackforex.com/tools/pip-calculator