Hi,

Forex trading is new to me and I am trying to ensure I understand the calculations involved. I installed FXCM Trading Station and have been using the practice/demo account.

It shows EUR/USD exchange rates of 1.57265 and 1.57304 right now.

The account is trading $100k lots.

This would make each pip worth $1, correct?

The program shows pip cost to be $10.

Most web sites that I look at calculate pip using an exchange rate that has 4 decimal places yet these have 5. If it was using a 4 decimal place exchange rate, the pip cost would be $10....

Am I missing something fundamental here?

Thanks,

Forexwindo