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Beginner

What is pip value?

We quote currency pairs by "5, 3 and 2" decimal places – also known as fractional pips or pipettes.

  • On a 5 decimal place currency pair a pip is 0.00010
  • On a 3 decimal place currency pair a pip is 0.010
  • On a 2 decimal place currency pair a pip is 0.10

For example: If GBP/USD moves from 1.51542 to 1.51552, that .00010 USD move higher is one pip.

When trading margin FX and other symbols, there are some easy rules to calculate the ‘pip-value’ of the trade so you can work out your potential gains and losses quickly.

  • When trading a ‘spot’ instrument, the pip value will always be in the second quoted symbol on the currency pair – so for EURAUD/USD, this means the pip value will be based in U.S. Dollars. This also applies to commodity CFD pairs such as Gold (XAU/USD) – where the pip value will be based in USD.
  • For Indices, the point value will be based in the currency of the country that hosts that share CFD index; for instance, GER30 is traded in Europe which means that the point value is given in EUR (Euro); US500 is traded in the US, so the point value will be in US Dollars.

A list of all traded symbols and their pip values is shown below. The pip scales in direct proportion to the trade size – so a 2 lot trade will have twice the value per pip as a 1 lot trade.

Pip values:

Margin FX pairs

Margin FX pairs Pip value per 1 standard lots Pip value per 0.1 standard lots Pip value per 0.01 standard lots
AUDCAD 10 CAD 1 CAD 0.10 CAD
AUDCHF 10 CHF 1 CHF 0.10 CHF
AUDJPY 1000 JPY 100 JPY 10 JPY
AUDNZD 10 NZD 1 NZD 0.10 NZD
AUDSGD 10 SGD 1 SGD 0.10 SGD
AUDUSD 10 USD 1 USD 0.10 USD
CADCHF 10 CHF 1 CHF 0.10 CHF
CADJPY 1000 JPY 100 JPY 10 JPY
CHFJPY 1000 JPY 100 JPY 10 JPY
CHFSGD 10 SGD 1 SGD 0.10 SGD
EURAUD 10 AUD 1 AUD 0.10 AUD
EURCAD 10 CAD 1 CAD 0.10 CAD
EURCHF 10 CHF 1 CHF 0.10 CHF
EURCZK 10 CZK 1 CZK 0.10 CZK
EURGBP 10 GBP 1 GBP 0.10 GBP
EURJPY 1000 JPY 100 JPY 10 JPY
EURNOK 10 NOK 1 NOK 0.10 NOK
EURNZD 10 NZD 1 NZD 0.10 NZD
EURPLN 10 PLN 1 PLN 0.10 PLN
EURSEK 10 SEK 1 SEK 0.10 SEK
EURSGD 10 SGD 1 SGD 0.10 SGD
EURTRY 10 TRY 1 TRY 0.10 TRY
EURUSD 10 USD 1 USD 0.10 USD
EURZAR 10 ZAR 1 ZAR 0.10 ZAR
GBPAUD 10 AUD 1 AUD 0.10 AUD
GPBCAD 10 CAD 1 CAD 0.10 CAD
GPBCHF 10 CHF 1 CHF 0.10 CHF
GPBJPY 1000 JPY 100 JPY 10 JPY
GBPNOK 10 NOK 1 NOK 0.10 NOK
GBPNZD 10 NZD 1 NZD 0.10 NZD
GBPSEK 10 SEK 1 SEK 0.10 SEK
GBPSGD 10 SGD 1 SGD 0.10 SGD
GBPTRY 10 TRY 1 TRY 0.10 TRY
GBPUSD 10 USD 1 USD 0.10 USD
NOKJPY 1000 JPY 100 JPY 10 JPY
NOKSEK 10 SEK 1 SEK 0.10 SEK
NZDCAD 10 CAD 1 CAD 0.10 CAD
NZDCHF 10 CHF 1 CHF 0.10 CHF
NZDJPY 1000 JPY 100 JPY 10 JPY
NZDUSD 10 USD 1 USD 0.10 USD
SEKJPY 1000 JPY 100 JPY 10 JPY
SGDJPY 10000 JPY 100 JPY 10 JPY
USDCAD 10 CAD 1 CAD 0.10 CAD
USDCHF 10 CHF 1 CHF 0.10 CHF
USDCNH 10 CNH 1 CNH 0.10 CNH
USDCZK 10 CSK 1 CZK 0.10 CZK
USDJPY 1000 JPY 100 JPY 10 JPY
USDMXN 10 MXN 1 MXN 0.10 MXN
USDNOK 10 NOK 1 NOK 0.10 NOK
USDPLN 10 PLN 1 PLN 0.10 PLN
USDSEK 10 SEK 1 SEK 0.10 SEK
USDSGD 10 SGD 1 SGD 0.10 SGD
USDTHB 10 THB 1 THB 0.10 THB
USDTRY 10 TRY 1 TRY 0.10 TRY
USDZAR 10 ZAR 1 ZAR 0.10 ZAR
ZARJPY 1000 JPY 1 JPY 10 JPY

Commodity CFDs

Commoditiy CFD Pip value per 1 standard lots Pip value per 0.10 standard lots Pip value per 0.01 standard lots
XTIUSD 10 USD 1 USD 0.10 USD
XBRUSD 10 USD 1 USD 0.10 USD
XAGUSD 50 USD 5 USD 0.50 USD
XAUUSD 10 USD 1 USD 0.10 USD
XAUEUR 10 EUR 1 EUR 0.10 EUR
XAGEUR 50 EUR 5 EUR 0.50 EUR
XNGUSD 10 USD 1 USD 0.10 USD
XPDUSD 10 USD 1 USD 0.10 USD
XPTUSD 10 USD 1 USD 0.10 USD

Indices

IndicesPoint value per 1 standard lot
US5001 USD
US301 USD
NAS1001 USD
AUS2001 AUD
EUSTX501 EUR
GER301 EUR
FRA401 EUR
IT401 EUR
SPA351 EUR
UK1001 GBP
JPN225100 JPY
HK501 HKD
US20001 USD
CN501 USD

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Risk Warning: Trading CFDs and margin FX is risky. It isn't suitable for everyone and if you are a professional client, you could lose substantially more than your initial investment. You don't own or have rights in the underlying assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. You should consider whether you’re part of our target market by reviewing our TMD, and read our PDS and other legal documents to ensure you fully understand the risks before you make any trading decisions. We encourage you to seek independent advice if necessary.

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