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I am asking for a FOREX trading account, being in EUR currency.

I know that 1.00 lot is 10 USD per one pip, 0.10 lot is 1 USD per one pip and 0.01 lot is 0.1 USD per one pip.

But since my account is in EUR,
1.00 lot is how many EUR per pip?
0.10 lot is how many EUR per pip?
0.01 lot is how many EUR per pip?

Is it the same?

user3666197
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Boom
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    I'm voting to close this question as off-topic because this doesn't appear to be programming related. – jmoerdyk Dec 16 '16 at 00:26

1 Answers1

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Facts

Given the actual value of the principally variable EURUSD exchange rate is 1.06000 at the moment, the pip value per lot is USD 10.

That means one gets USD 10.60 for each EUR 10.00 brought to exchange.

Answer

You need to pay 9.43 EUR to receive those USD 10, plus some transactional costs ( either deferred or hidden in spread markup et al ), that are itemised and stipulated in Terms and Conditions agreed with your Bank / Broker of choice.

Thus one needs, in the above idealised / simplified case:

  • EUR 9.43 per pip per 1.00 standard Lot

  • EUR 0.94 per pip per 0.10 standard Lot

  • EUR 0.09 per pip per 0.01 standard Lot

Explicit Caution

One ought rather always check and double-check all applicable trading Terms & Conditions with the respective Bank or Broker of one's choice Representative, as additional conditions may and do apply. If in any doubts, do request a written, signed official statement about any fact, steps and measures that one is not absolutely sure about, so as to avoid any later adverse impact in case some divergent trade-execution or NTO practice may appear in some specific cases.

user3666197
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