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units = 100,000 pip_size = 0.0001 lot = 1.00 pip = 100,000 × 0.0001 × 1 = 10 USD
The smallest standardized price move on a forex pair is called a pip. The dollar (or other currency) amount that move represents on your specific position is the pip value. It depends on three things: the instrument, your lot size, and your account currency.
pip_value = contract_size × pip_size × lot_size For most FX pairs: contract_size = 100,000 pip_size = 0.0001 (or 0.01 for JPY) lot_size = your trade size If quote currency ≠ account currency: pip_value_account = pip_value_quote ÷ FX_rate
EUR/USD at 1.0850, 1 standard lot, USD account:
Multiply contract size by pip size by lot size. For most pairs that's 100,000 × 0.0001 × your lot. If your account currency is different from the quote currency, divide by the relevant FX rate.
For JPY pairs, one pip equals 0.01 (not 0.0001). On USD/JPY at 155.42, a 1-pip move is from 155.42 to 155.43.
No. Pip value depends on lot size, instrument, and account currency — not leverage. Leverage affects required margin, not pip value.
On gold, contract size is 100 ounces and pip size is 0.01 — so one pip on a 1-lot XAU/USD trade is $1.00, not $10.00.
The math is exact. The result is illustrative — your broker's actual pip value may differ slightly due to mid-vs-quote rates and rounding.
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