Traders argue about pips and then size the lot anyway. The useful order is: contract spec first, calculator second. Peak Pips has pip value and position size tools so you can see the money move. They do not place the trade.
What a pip is (and is not)
On most FX pairs a pip is a small increment in the quote (often the fourth decimal). Gold and some indices are quoted differently. The broker’s specification sheet is the source. Our FAQ line is the same: use the spec, not a meme.
Lot size is how you turn a pip into cash
Standard, mini, micro — labels change by firm. A “0.01” on one desk may not match another. Convert the move into account currency before you click. If you cannot do that, you are guessing.
Cost still sits on top
Spread plus commission plus swap can dwarf a “one pip” plan. Read spread vs commission. Raw accounts add a ticket fee: raw spread explained.
Gold is the usual trap
XAUUSD jumps. A size that felt tiny on EURUSD can empty a small account on gold. Checklist: gold broker account. Leverage note: leverage and margin.
These tools are education. Peak Pips is not a broker and not a signal room. Risk disclaimer.
Common question
Can I trust an online pip calculator? Use it as a check against the broker’s contract size and quote digits. If the two disagree, believe the spec sheet you will trade on.
