Calculating Pip Value - Forex Tester

I’m doing some backtesting on ForexTester, kind of using it to help get me familiar with the mechanics of trading while I also demo with the brokers. I can�t get my hands around how it handles lot sizing versus leverage. I am trying to emulate a mini account where the lots are 10,000units. In addition, I�m trying to use leverage of 10:1. The currency pair I am testing is USDCHF. Here are the steps I use:

  1. Go to the Currency list dialog and set the lot size of USDCHF to be 10000. I also set the digits to be 4, the Spread 4 and the Point value 0.0001.

  2. Go to the Options Dialog of the software and input an initial deposit of $10,000. I also set the leverage to 1 x 10 in the Options Dialog.

  3. I short 1.0 lot of USDCHF at an Open Price of 1.2494.

  4. I close the position at 1.2374 for a profit of 20 Points (pips).

The problem I see is that 20 pips only nets me a profit of $16.16. I figure the software�s calculation would be correct if I were using leverage of 1x1 on the $10,000 lot size.
By my calculations this number should be closer to $161.60 when using a 10:1 leverage on a $10,000 lot size. Here is the formula I used to calculate my profit:

Pip value of USDCHF at an exchange rate of 1.2494
(DecimalPoints / exchange Rate) x Lot Size = PipValue
(.0001 / 1.2494) x $10,000 = $0.800384184 per pip

To get pip value at 1 x 10 leverage you would then use this formula:
PipValue@1x10 = PipValue x Leverage
8.00 = $0.800384184 x 10

To calc profit I use this formula:
Profit = PipValue x NumberOfPips
160.00 = 8.00 x 20

I think the problem is that the software thinks 1 lot is worth $1,000. See the attached images where it shows a margin of $1,000 for a position of 1 lot. Please let me know if I am doing something wrong or thinking about this incorrectly.

Thanks.

I just realize I probably should’ve posted this in the software forum. I’ll leave it here though as it is as much a question about calculating profits using leverage as much as it is about ForexTester. Thanks for any replies.