How pip value and lot sizes work on metatrader 4

Joefrank · August 21, 2019, 8:37pm

I opened a $100,000 demo account on metatrader 4. When I buy/sell 1.0 lot, the pip value is $1 per pip movement. I’m confused. There is something I’m missing here. Please help.

justshell · August 23, 2019, 3:24pm

that’s weird, I’m not too sure about that. It should be $10 , not $1…what broker you using for demo?

Peter_Siddle · August 23, 2019, 3:44pm

Do you have any plan on the same amount in live? If not; just change the amount and try to play with a small amount; it will help you to learn Forex!

Joefrank · August 23, 2019, 8:56pm

There is no broker for the demo account.

Joefrank · August 26, 2019, 5:30pm

Please could you explain the trade for me. Is it 1usd/pip or 10usd/pip?

justshell · August 26, 2019, 9:05pm

$10 per pip is 1 lot
0.1 lots is $1 per pip

Joefrank · August 26, 2019, 9:24pm

Thanks all for your help. I just realised they are pipettes not pips.

Peter_Siddle · August 28, 2019, 5:47pm

This trade is opened on 1 trading lot size so; 50$ profit for 50 pips move!