XM pip value is the money one pip of price movement is worth on the ticket you actually open. In the quote currency it is pip size times contract size times the number of lots. On a pair such as EURUSD, one pip is 0.0001. A Standard round lot in XM’s affiliation terms is 100,000 units of the base currency, so 1.00 lot is 10 USD per pip when the account currency is also USD. A Micro round lot is 1,000 units, so 1.00 lot on that book is 0.10 USD per pip. The lot label on the order is the same; the contract size is not. Convert the result only when the account currency is not the quote currency. Cashback on this site changes a completed-volume cost. It does not change the pip value of the open position.
Why one XM pip value does not fit every 1.00 lot
The risk disclosure example treats one Standard lot of EURUSD as 100,000 units. The affiliation agreement uses the same 100,000-unit round lot for a standard or Ultra Low standard forex book, and a 1,000-unit round lot for a micro or Ultra Low micro book. Gold is 100 ounces on the standard round lot and 1 ounce on the micro round lot. Silver is 5,000 ounces and 50 ounces. That agreement names Trading Point of Financial Instruments Ltd, CySEC licence 120/10, as its company. The account you open can sit with another company in the group, so the contract size to multiply is the one on that symbol’s specification, not a single group-wide card.
What a standard lot is, in units rather than in money, is set out in what 1 standard lot means on XM. Account names are compared in account types. This page takes those unit sizes and turns them into a pip value.
EURUSD by lot size, when the account is in USD
Quote currency and account currency match, so there is no extra conversion. One pip is 0.0001.
| Lots | Standard units | Standard, USD per pip | Micro, USD per pip |
|---|---|---|---|
| 1.00 | 100,000 | 10.00 | 0.10 |
| 0.10 | 10,000 | 1.00 | 0.01 |
| 0.01 | 1,000 | 0.10 | 0.001 |
The arithmetic for the top-left cell is 0.0001 × 100,000 × 1.00 = 10. A Micro cell uses 1,000 in place of 100,000. One Micro lot and 0.01 of a Standard lot are the same 1,000 units, so both are 0.10 USD per pip on EURUSD. A 50-pip result at 0.01 lot is a separate sum, worked in how much 50 pips is at 0.01 lot: pips times the pip value in the row that matches the account.
A yen pair has a second step
On USDJPY one pip is 0.01, not 0.0001. One Standard lot produces 0.01 × 100,000 = 1,000 yen per pip. That yen amount still has to be turned into the account currency. At an example price of 150.00, which is not a live quote, 1,000 ÷ 150 = 6.666… USD, or 6.67 USD when rounded to the cent. A 0.01 Standard lot is 10 yen per pip, and 10 ÷ 150 = 0.0667 USD. One Micro lot is the same 10 yen, because 0.01 × 1,000 = 10.
If the account currency is neither yen nor US dollars, convert once more. The currency converter on this site is for that last step. XM’s all-in-one calculator asks for the account base currency, the symbol, and the volume in lots, then prints a Pip Value next to Min. Price Fluctuation. Use that printed pip value when the pair is not a straight dollar quote. The local pip calculator is the same kind of estimate: it is not a substitute for the contract size on the symbol.
Gold, points, and the line to copy first
A one-dollar move on the standard gold round lot is 100 × 1 = 100 USD. On the micro gold round lot it is 1 USD. Silver follows the same idea with 5,000 ounces and 50 ounces. The minimum price step on those symbols is often finer than one dollar. The calculator’s Min. Price Fluctuation is that step. A forex pip of 0.0001 does not describe it.
The affiliation agreement also says a round lot, for affiliate commission, must stay open at least five minutes, and that trades closed with “close by” or “multiple close by” are left out of that commission. Those lines decide whether a trade counts toward an affiliate payment. They do not set the pip value of the price move. A position closed in one minute still has a pip value; it may simply fall outside that commission count.
Where spread and cashback sit beside the pip value
Spread is a cost measured in price. Multiply the spread, in pips, by the pip value of that ticket and you have the spread cost in money. How wide the spread is on a given account is covered in XM spread. Cashback and rebate on this site are calculated from completed volume under the terms shown when you register. Run the cashback calculator with the lots you already closed. Subtract that figure from cost. Do not add it to the pip value, and do not treat it as profit on the position.
For readers in India, whether an overseas account can be opened is a separate question from this arithmetic. The permission check is in is XM allowed in India. A CySEC number on one group company is not an Indian permission, and a pip table does not change that.
Price can move against the position by many times one pip. Size the loss from stop distance times pip value, then add spread, before the lot is increased to chase a rebate.
Questions
What is XM pip value?
It is the account-currency value of one pip on a stated contract size and lot. For EURUSD on a USD account, 1.00 Standard lot is 10 USD per pip and 1.00 Micro lot is 0.10 USD per pip, using 100,000 and 1,000 units.
How do I calculate it from lots?
Multiply pip size by the contract size by the lots. EURUSD uses 0.0001. USDJPY uses 0.01. If the account currency is not the quote currency, convert with the price of that pair or with a second rate.
Is 0.01 lot always 0.10 USD per pip?
On EURUSD with a Standard contract and a USD account, yes: 0.0001 × 100,000 × 0.01 = 0.10. On a Micro contract the same 0.01 lot is 0.001 USD, because the contract is 1,000 units.
Why do 1.00 Micro and 0.01 Standard match?
Both are 1,000 units of the base currency. On EURUSD that is 0.10 USD per pip. The order screen still shows different lot numbers because each book defines 1.00 lot differently.
What changes on USDJPY?
One Standard lot is 1,000 yen per pip. Divide by the USDJPY price to reach US dollars. At an example price of 150.00 that is 6.67 USD. A live price replaces 150.00 and changes only the dollar figure.
How is gold different?
The round lot is in ounces: 100 on standard, 1 on micro. A one-dollar move is then 100 USD or 1 USD. Read Min. Price Fluctuation for the real step. Do not reuse the 0.0001 forex pip.
Does a five-minute hold change pip value?
No. The five-minute test, and the exclusion of close-by trades, is written into the affiliate commission definition of a round lot. The price move still has the pip value from contract size and lots.
Where do I confirm the contract size?
On the symbol specification for that account, and in the calculator by choosing account currency, symbol, and volume. The figures 100,000 and 1,000 are the forex round lots in the documents cited here.
Does cashback change the pip value?
No. Cashback is a cost adjustment on completed volume. Calculate it separately, then compare it with spread cost. The open position’s pip value stays pip size times contract size times lots.
How do I turn a pip value into a loss limit?
Multiply the stop distance in pips by the pip value, then add the spread cost. If that sum is larger than the loss you accept, the lot is too large for that stop. A rebate does not belong inside that product.
What if the account currency is not USD?
Start from the quote-currency pip value, then convert into the account currency with the rate you will actually be charged. Select that base currency in the calculator so the Pip Value line is already in it.
Does this table decide whether XM can be used from India?
No. The table is arithmetic. Whether an account can be opened from India is covered in the India permission article. A licence named on one group company is not, by itself, an Indian permission.
