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PIP Calculator

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What is PIP

A pip (percentage in point) is the smallest increment of price movement in a forex currency pairs. In most pairs, its the fourth decimal place (0.0001) representing 1/100th of 1%. For pairs involving the Japanese Yen(JPY), a pip is the second decimal place (0.01).

How to use PIP calculator

To calculate the pip value for a specific currency pair or asset, simply input your order details into the calculator:
  • Choose the currency pair: Name, address, email address, phone number, date of birth, and other contact details.Decide which currency pair you want to trade and determine the current exchange rate. For example, if you’re trading EUR/USD, you need to know the current rate at which one euro can be exchanged for US dollars.
  • Input the currency pair: Bank account details, credit history, income details, and other related information.Enter the currency pair you’re trading. Most PIP calculators will have drop-down menus or text boxes where you can input the currency pair.
  • Input the trade size: Bank account details, credit history, income details, and other related information.Occupation, employer details, and related data.Enter the size of your trade in lots. Some calculators may require you to input the trade size in units rather than lots, so make sure to convert if necessary.
  • Calculate the profit or loss: Once you’ve entered all the necessary information, click the calculate button or similar function on the PIP calculator. The calculator will then display the profit or loss in terms of the base currency of the trading pair.
  • Repeat as needed: You can use the Forex PIP calculator for each trade you make to quickly determine potential profit or loss based on the number of PIPs gained or lost. By following these steps, you can effectively use a Forex PIP calculator to analyze trades and manage risk in the foreign exchange market.