What is a Pip in MT4 Platform Software?
The pip format for four decimal points currency quotes in MT4 is shown below. The example describes how to read a currency quotes and calculate the pip movements using the MetaTrader 4 software.
Example: for 4 decimal Points Currency Quotes Format
If EURUSD moves from 1.4500 to 1.4501 then this price movement is equal to:
1.4501-1.4500 = 0.0001 (1 pip)
The Value of = 0.0001 USD
1 standard contract = $100,000
The Value of 1 pip for 1 standard contract = 100,000* 0.0001= $10
1 pip = $10, for 4 Decimal Points Format
4 Points Decimal Currency Quotes Format on the MT4 Software - FX Trading Pips
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