Why was my profit so low?

Beginner Questions
1

Hi,

I am a newbie at CFDs, I have been practising with MT4 on a demo account.

I made a trade which moved 516 PIPs in my favour, but my profit and loss did not reflect the correct amount I was expecting.

I opened my position with a SELL order on the GBP/USD at 10,000 units with an ASK price of 1.35375.
I closed my position with a BUY order at a price of 1.34859.
This is a 516 pip movement in my favour.

I used the Pip Value Calculator on Babypips which told me that at 10,000 units each pip would be worth 0.73 pence.

I did the profit math as follows (516 PIPs X 0.73 Per Pip) = £376.68

However, my profit on this trade was only £38.

It doesn’t make any sense so I know I have done something wrong, can someone please point it out to me?

Thanks in advance

2

No, that’s a 51 pips move in your favor. The fifth decimal digit is a pipette, a fraction of a pip, and is not counted.

3

Many thanks! Very much appreciated your help

4

You are right, that’s the actual calculation.

6

Sounds like you need to change your broker then if they don’t take into account fractions of a pip against your P&L.

7

i also think so, appreciate your message