Calculating Pip Value for Standard Forex Account Trading Standard Lots

Standard Account Definition - the meaning of a Standard account is an account type where forex traders open trades using Standard lots.

1 Standard lot is the equivalent of 100,000 units of the base currency.

Standard lot is equivalent to one standard fx contract.

For Standard lot the pip size per trade is equal to $10

Calculating Pip Value for Standard Forex Account Standard Lots

1 pip is the smallest currency pair movement used when trading currencies.

1 pip move when trading Standard lots is equal to $10 (100,000 units of currency * 0.0001 = $10 )

For Example if EURUSD moves from 1.3000 to 1.3001 this is equivalent to 1 pip - 1 pip is the fourth decimal point in the forex quote.