The basics.
- For most pairs a pip is 0.0001 (the 4th decimal).
- For JPY pairs a pip is 0.01.
- A pipette is one tenth of a pip — the extra decimal your platform shows.
Pip value.
On a standard lot (100,000 units) of EUR/USD, one pip is about $10. A mini lot is about $1, a micro lot about $0.10.
Pip value = (pip size ÷ exchange rate) × units, converted into your account currency where needed.
Gold is different.
On XAU/USD brokers quote moves in dollars and cents; check the contract size in the MT5 symbol specification before sizing.
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