How do you calculate the value per pip?
With a 4 decimal placed currency pair, the following formula is used to calculate the value of the pip:
(0.0001 x Trade Amount) ÷ Spot Price = Per Pip Value
Have a look at the following example
|Currency Pair||Spot Price||Trade Amount|
0.0001 x 350,000 = 35
35 ÷ 0.8714 = 40.165 USD per pip