What is a PIP Calculator?
As you know profits in Forex are called PIPs. When you win 30 pips in a trade, how much have you actually won?
If you were to have traded a .01 lot, it would have been 1,000 units. If you put 1000 into the “Trade Size” field, you would see what the .01 lot size is for every pair. Thus a 30 PIP profit on an EURGBP trade, would equal $3.90 USD.
30 (pips) * .13 (cents) = 3.90
Keep in mind that if you were to lose 30 PIPs on an EURGBP trade, you would also lose $3.90.
Note that you can change the calculator over to your own local currency.