Forex traders using the Wealthmax trading platform will have access to a pip calculator. This allows investors to determine the value of trades executed in terms of pips, which is important for implementing a risk management strategy. The calculations are based upon real-time exchange rates.
The pip calculator can also give you the pip value for trade with results displayed in terms of the base currency of your trading account. Wealthmax’s pip calculator gives you a variety of base currencies to choose from.
It is really easy to use the pip calculator. First, indicate the size of the trade executed in terms of a number of lots. Second, choose the currency pair you are looking to trade. Then, specify your trading account’s base currency. Finally, click on the button labeled “Calculate” to display the pip value of your trade. As simple as that!