The value of 1 pip = lot * contract size * minimum change in quotation * price of the quoted currency relative to the deposit currency.

Note: If the quoted currency does not match the deposit currency, the value of one pip is not constant and is dependent on the price between the quoted currency and the deposit currency.

Moreover, for currency pairs similar to "quoted currency / deposit currency" it is necessary to multiply by the price, and for currency pairs "deposit currency / quoted currency" - to divide by the price.

Example 1. Currency of deposit USD. Trader opens a position on the pair EUR/USD, the opening price is 1,22900, therefore, the cost of one point will be:

for 0.10 lots = 0.10 * 100,000 * 0.00001 = 0.10 USD;

for 0.01 lots = 0.01 * 100,000 * 0.00001 = 0.01 USD.

Example 2. Deposit currency EUR. The trader opens a position on the pair EUR/USD, the opening price is 1,22900, therefore, the cost of one point will be:

for 0.10 lots = 0.10 * 100,000 * 0.00001 = 0.10 USD / 1.22900 = 0.0814 EUR;

for 0.01 lot = 0.01 * 100,000 * 0.00001 = 0.01 USD / 1.22900 = 0.0081 EUR.

Example 3. Deposit currency USD. The trader opens a position on the pair EUR/GBP, the opening price 0,8675, the rate of GBP/USD - 1,21420, therefore, the cost of one point will be:

for 0.10 lots = 0.10 * 100,000 * 0.00001 = 0.10 GBP * 1.21420 = 0.12142 USD;

for 0.01 lot = 0.01 * 100,000 * 0.00001 = 0.01 GBP * 1.21420 = 0.012142 USD.