Hi all I'm just starting out in forex and want to put on a GBP.USD trade. I am not sure how to find the pip size and pip value easily. Normally I'd go to the CME site but I am sure that there is an easy way to do it on TWS. Any help would be appreciated
experiment with the demo pip size can go up to 1/10th of the normal pip. 1.34019 Buy 1M will net cost you 1.34019M USD and get you 1M GBP Hold overnight and you lose tons in swap cost
HI @traider thanks for the reply but I wasn't clear in my question. For instance from the CME web site I can find out that the details for the EUR.USD the PIP size is 0.0001 and the standard contract amount is 20,000. How can I find that information from the TWS platform
Probably easiest to use a forex pip calculator. Values will change for some pairs as price moves. Value will also change depending upon your account(deposit) currency. https://www.forextime.com/trading-tools/trading-calculator/pip-calculator