Hi guys, I am new to trading and have just recently gone live. I’m trying to find out if different brokers offer different values per pip for XAUUSD. On pepperstone for example it says on their website that a 1 pip move at 0.01 lots is equal to $0.10. But with my current broker (HFM) I traded XAUUSD and it came out to be $7.2 for a 720 pip move. Also am I right in saying that a 1 pip move on XAUUSD is equal to a change in the second decimal place of the price or am I mistaken?
Hi @Shiaav01 , you are asking about PipValue. You don’t need to much about it. You can use Pip calculator to know each pipvalue. Babypips provide this tools:
you can use exness one, easier
If you are really like to calculate it for yourself, you need to find out instrument contract size.
For example: XAUUSD, the contract size is 100 / lot. The digit number is 2.
If you want to know how much 1 Pip for 1 lot, the formula will be
Example XAUUSD now is 2660.30. We add 1 pips to the price =
2660.30 + 1 pips / 10. ( Divided by 10 to convert Pip to Poins. 1 Pip = 10 point).
2660.30 + 0.1 = 2660.40
1 Lot USD = Price x 100 (contract Size) = 2660.40 x 100 = 266 040
So the different between buy and sell = 266 040 - 266 030 = 10 USD.
This 10 USD is the Pip Value, which means 1 Pip = 10 USD / Lot.
If you are trading 0.01 lot … the value will be 10 USD x 0.01 = 0.1 USD.
If the pip value is different, either you are using different currency or the contract size is different (highly unlikely).
Hi thanks for your response. On my MT5 app my contract size says 1
Sorry about that on my MT5 app it says contract size is 100 for XAUUSD. Not 1.
If that’s the case, you should have 0.1 each pips of 0.01 lot. If less then that, something is wrong. Unless your account is a commission based or it is not a USD based currency. 
I dunno what else can make it happened