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Price per point


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On 17/05/2020 at 16:59, RobPhillips90 said:

Hi all,

 

Newbie here, I love the IG platform but not understanding the price per point when going to make a trade.

Where I've used FX before (a long time ago), I always used the PIP calculator. Is there an easy way to explain this?

 

3 minutes ago, 616mushroomcloud said:

What is it that you don't understand?

This way you can specify the value of a point and size your position appropriately from the ticket.

Basically IG decided to make all the markets points rather than pips, ticks and whatever so a 1 on the left of the decimal point is 1 point which is 1 pip and on the right is 10ths of a point or pipettes.

so if your position size is £1/point and gbpusd is 12240.3 and moves to 12245.3 in your favour then you have made 5 points or £5. 

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