The Best Pip Calculator on the Net
Most of the time, when we are looking for a pip calculator, we are not doing that for educational purpose. There is usually a need, a pretty urgent one, to find out how much money is on the line with a particular position. Given that as the requirement, I find not just one but two very good pip calculators that every forex trader should bookmark.
Normal pip calculators are simple applet that allows you to choose or enter the following information.
1. base currency
2. target pair
3. current price of the pair
4. lot size / total amount
And it will give you the pip value per unit base currency.
The problem with the simple designs I have seen is that they are provided like an afterthought. They are functional but not as convenient as I like it to be.
Following are links to a few common pip calculators that get the job done.
The better pip calculators are well designed online app give us forex traders exactly what we need very quickly – a table of the pip values across the most common currency pairs.
6 major pairs listed with the ability to take your trade size as input and calculate the exact pip value for that across all the listed pairs.
Account base currency is fixed to US Dollar.
The pip value for the most common lot sizes (1000K, 100K, 10K) are listed automatically so you do not even need to enter the trade size if that is what you are looking for.
With everything the runner-up has plus more pairs (16 pairs) and option to change the base currency, these two pip calculators cover all the grounds.
I am not sure if the pip calculators from Investing.com and FXEmpire.com are coming from the same source. They look exactly like each other while the one from FXEmpire.com allows you to copy the calculator and put that into your own website / blog.
To Sum It Up
Personally I ended up using the one from FXEmpire.com the most because it has a very clean layout and has all the common pairs I need.
Disclosure: I am not affiliated with any of these websites. I just need a good pip calculator like all of you. Since I did the leg work looking for one that is useful, I may as well post it here.