This simple tool will help you correctly assess risks and manage the transactions more effectively. Select the instrument, the currency of the trading account, the transaction amount and find the value of 1 pip.
The transaction with 1 lot EUR/GBP with an account in EUR
Pip = decimal value x transaction amount / asset price.
The transaction with 1 lot WTI with an account in USD
0,01 x 1000 = 10
For commodities, you calculate the value of 1 pip like this:
Pip = decimal value x transaction amount (number of barrels).