Hey all!
Just a doubt I hope you can help me clear.
If I start a mini account with $250 and somehow I trade successfully and gain 45 pips, isn’t 1 pip worth $10USD or does that amount vary with your deposit into live account? Thanks!
The value of a pip varies with the position size of your trade.
As an example, if you were to open a position on GBPUSD with 1 standard lot, then 1 pip would be worth $10. However, I would guess that with most brokers, even those offering insane leverage you would have insufficient margin to do that.
If you where to open a position on GBPUSD with 1 micro lot (which is still much too large a position for an account of that size), then 1 pip would be worth $1.
Understand it a bit better now thanks!
Simbe I think your intentions are good but you made a mistake. 1 micro lot (witch it best suited for his size account) 1 pip is usually $0.10. A mini lot usually has a pip value of $1.00
The pip value will always be 0.0001 times your position size in dollars when USD is the quote currency (like xxxusd), except for the yen where you use 0.01. When USD is the base currency (like usdxxx) you divide that number by the exchange rate. Whew! 
That’s what I thought. o_O Thanks Bob and Timothy!