To manage risk more effectively, it is important to know the pip value of each position in the currency of your trading account.
The Range Forex Pip Calculator does this for you. All you have to do is enter your position details, including the instrument you are trading, the trade size and your account currency. Click ‘Calculate’ and the Pip Calculator will determine how much each pip is worth.
For forex, the Pip Calculator works as follows:
Pip Value = (Pip in decimal places * Trade Size) / Market Price