The TradingFinder Pip Calculator tool is free and can be used for risk management, profit and potential loss calculation, and comparing pip values across different currency pairs.
What parameters make up the Pip Value Calculator tool?
TradingFinder's Pip Value Calculator consists of the following sections:
- Currency Pair: Option to select from over 70 currency pairs including EUR/GBP, EUR/USD, XAU/USD
- Base Amount: The amount of lot/mini-lot for trading
- Account Currency: Selection of account base currency from among 24 currencies
- Exchange Rate: Converting pip value to account currency
Step-by-Step Guide to Using TradingFinder's Pip Calculator
Follow these steps to use the Pip Value Calculator:
- Select your desired currency pair
2. Enter the base amount
3. Select the account currency from various options
4. After automatic exchange rate estimation, click the "Calculate" button to determine the pip value.
How does the Pip Calculator work?
This tool calculates the pip value based on the standard forex pip value formula; Pip Calculation Formula:
- Pip Value = Trading Volume × One Pip/Account Currency Exchange Rate
Conclusion
TradingFinder's Pip Calculator is a tool for risk management and precise pip calculation in major, minor, exotic currency pairs, stocks, gold, silver, and Bitcoin.
The pip value in this tool is calculated by dividing the exchange rate by one pip and multiplying it by the trade volume.