Many traders wonder how and when trading on Exness to calculate the value of a pip. In this article, EX Trading will guide you to use the Pip Calculator Exness tool. This is one of the most used tools in the Exness personal area of traders.
Learn about pip calculator Exness
Many new traders do not understand and do not know what the definition of pip is. Therefore, Pip calculator Exness is a big “question” for traders.
What is Pip?
Pip is the smallest price change in a currency pair in Forex trading orders. Exness introduces fractional pips or ‘Pipets’ to provide traders with bids. From there ask for better prices while trading.
To determine pips in a currency pair. Pip will depend on that currency pair. Some pairs have the pip in the 4th decimal while some in the second. Fractional Pipettes/Pipettes always follow the position of the pip. So it will be in the 5th and 3rd decimal places respectively.
A Pip calculator is the name of a tool used to calculate the value of a pip. This tool is intended to determine how much money the value of 1 pip will be. This is a type of calculation tool used by many traders when trading forex. Especially it is quite popular on the MT4 platform.
What is the Exness pip calculator tool?
The Exness pip calculator tool is handy and simple. Support helps you automatically calculate basic information about your trading orders. The tool provides information including margins, spreads, commissions, buy and sell swaps, and basis point values.
Pip calculator Exness is extremely useful when you want to determine the above values for many open trading orders on many different types of instruments without spending too much time.
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How to calculate Exness trading profit in pips?
How to calculate Exness trading profits in pips for currency pairs? Let’s follow this content!
For the XAU/USD pair on Exness
To calculate trading profits on the XAU/USD currency pair according to Pip calculator Exness. Specifically, the steps are as follows:
Step 1: Determine account type and currency pair:
Identify the account type you are using on Exness and the XAU/USD currency pair you opened the order with.
Step 2: Determine the order size
Determine the size of the position you have opened, commonly known as lots or trade volume. This shows how many units of currency you are trading.
Step 3: Determine the entry price and exit price
Record the entry price when you open the order and the exit price when you close the order on the XAU/USD pair.
Step 4: Calculate the number of pips
Calculate the difference between the exit and entry prices in pips. Since the XAU/USD pair has a second decimal value (0.01), the formula for calculating pips will be:
Number of pips = (Exit price – Entry price) / Unit pip
In the case of XAU/USD, the pip unit is 0.01.
Step 5: Calculate the value of each pip
Based on the number of pips you calculated and the order size. You can calculate the value of each pip.
The formula will be: Value per pip = Number of pips x Order size
Step 6: Calculate profit or loss
Based on the value per pip and the direction (buy or sell) of the trade, you can calculate the profit or loss of the trade.
For currency pairs containing JPY
When trading currency pairs such as USD/JPY, EUR/JPY, GBP/JPY. To calculate trading profits on currency pairs containing JPY according to Pip calculator Exness. Please follow the steps below with EX Trading :
Step 1: Determine the account type and currency pair
Identify the account type you are using on Exness and the currency pair you opened the position with (e.g. USD/JPY, EUR/JPY, GBP/JPY).
Step 2: Determine the order size
Determine the size of the position you have opened, commonly known as lots or trade volume. This shows how many units of currency you are trading.
Step 3: Determine the entry price and exit price
Record the entry price when you open the order and the exit price when you close the order.
Step 4: Calculate the number of pips
Calculate the difference between the exit and entry prices in pips. The formula for calculating pips will depend on the pip unit of that currency pair. The pip unit is usually 0.01 for currency pairs containing JPY.
Number of pips = (Exit price – Entry price) / Unit pip
Step 5: Calculate the value of each pip
Based on the number of pips you have calculated and the position size, you can calculate the value of each pip. The formula will be:
Value per pip = Number of pips x Order size
Step 6: Calculate profit or loss
Based on the value per pip and the direction (buy or sell) of the trade, you can calculate the profit or loss of the trade.
For currency pairs that do not contain JPY
To calculate trading profits on non-JPY currency pairs (e.g. EUR/USD, GBP/USD, AUD/USD) according to Exness Pip calculator. Similar to the above, you can do the following steps:
Step 1: Determine the account type and currency pair
Identify the account type you are using on Exness and the currency pair you opened the position with (e.g. EUR/USD, GBP/USD, AUD/USD).
Step 2: Determine the order size
Determine the size of the position you have opened, commonly known as lots or trade volume. This shows how many units of currency you are trading.
Step 3: Determine the entry price and exit price
Record the entry price when you open the order and the exit price when you close the order.
Step 4: Calculate the number of pips
Calculate the difference between the exit and entry prices in pips. The formula for calculating pips will depend on the pip unit of that currency pair. The pip unit is usually 0.0001 for currency pairs that do not contain JPY.
Number of pips = (Exit price – Entry price) / Unit pip
Step 5: Calculate the value of each pip
Based on the number of pips you have calculated and the position size, you can calculate the value of each pip. The formula will be:
Value per pip = Number of pips x Order size
Step 6: Calculate profit or loss
Based on the value per pip and the direction (buy or sell) of the trade, you can calculate the profit or loss of the trade.
For example: If you open a buy (long) order on the EUR/USD pair with a size of 1 lot, the entry price is 1.2000 and the exit price is 1.2050, and the pip unit is 0.0001, you can calculate the profit as follows:
Number of pips = (1.2050 – 1.2000) / 0.0001 = 50 pips
Value per pip = 50 pips x 100,000 (1 lot size) = 5,000 USD (for EUR/USD)
Profit = Value per pip x number of pips = 5,000 USD x 50 pips = 250,000 USD
Note that in every transaction at Exness. There are also factors such as spreads, swaps, and other cost factors that can affect the actual profitability of a trade. But with Pip Calculator Exness is introduced in this article. You will be able to calculate everything in a short time, completely automatically without any effort.
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Does Exness provide an Exness calculator tool?
To date, Exness has provided calculator tools for traders. With 2 outstanding tools such as Exness Spread and pip calculator Exness multi-function for users. This tool is extremely useful when you want to determine the above values for many trading orders.
Values displayed on pip calculator Exness
Currently, the financial Exness calculator displays the following values:
Margin – Required capital in your account or balance needed to maintain your open trading position.
Spread Cost – The amount you pay when opening a trade. The spread is calculated based on the average spread of the previous trading day. Depending on market conditions spreads change flexibly. The final spread cost can be determined by the time the trade position is opened.
Commission – Commission is a trading fee on Raw Spread and Zero accounts. This fee is applied to each trading lot both when opening and closing an order. The commission in the calculation result is the total transaction opening and closing fee. This total fee will be calculated when opening a trading order.
Overnight selling and buying fees – Interest rates applied to trading orders opened overnight. This fee can be for a buy or sell order depending on the transaction. Overnight selling fee is understood as the exchange rate for Sell trading orders. So overnight buying means buying trading orders.
Basis point value – This helps calculate how much money a trader will gain or lose. It is calculated in the quote currency with the formula: Number of lots x Contract volume x Basis point size.
Instructions on how to use pip calculator Exness
To use pip calculator Exness on Exness floor. First, you choose the type of Exness trading account you are trading with. Includes Standard, Standard Cent, Pro, Raw Spread, or Zero accounts.
Next, you enter the leverage and currency of the account. It can be AUD, CAD, CHF, EUR, GBP, JPY, NZD, or USD that you set for your trading account.
Choose a trading instrument. You can choose from a list of available forex currency pairs, metals, stocks, indices, energies, and cryptocurrencies.
Finally, set your trading lot size. Then click the “Calculate” button.
So you have seen the calculation results for the required deposit amount. Spreads, commissions, overnight fees (buying and selling). The base point value of the trading order is also calculated quickly.
Conclude
This article by EX Trading has helped you understand what the Exness pip calculator is. Thanks to this financial calculator you will calculate it all in a second. Completely automatic and you don’t need to spend any effort at all. In addition to useful tools, back com Exness is very attractive to traders, please read our articles to update the latest information about Exness.
FAQ:
Is using the Exness financial calculator simple?
It’s very simple, you just need to enter the required information and click on the “Calculate” button and you will see the calculation results for the required deposit amount.
How to calculate expected profit using a pip calculator?
You must determine the currency pair, order size, and expected price. Use the pip calculator to calculate the pip value and multiply it by the expected number of pips to calculate the expected profit.
Does Pip calculator Exness support currency pairs containing JPY?
Yes, the Exness pip calculator supports currency pairs containing JPY.
