How pips and lots work on FxPro platforms
On MT4, MT5 and cTrader the basic logic for pips and lots is the same. A pip is the smallest standard price move in a forex pair, usually 0.0001 for most major pairs such as EUR/USD. A lot defines the trade volume: a standard lot equals 100,000 units of the base currency, a mini lot 10,000 units and a micro lot 1,000 units. When a position is opened, each platform automatically calculates pip value using the chosen lot size, the account currency and the currency pair.
For South African clients, the same calculation rules apply regardless of platform. A move of 1 pip in EUR/USD is worth about 10 USD per standard lot, 1 USD per mini lot and 0.10 USD per micro lot when the account is in USD. The same structure applies to other pairs, with automatic conversion to the account currency if it differs from the quote currency. The number of decimals and visual tools differ between MT4, MT5 and cTrader, but pip value, lot sizing and profit and loss in pips follow the same internal logic on all three.
Basic definitions: pip, pipette and lot sizes
A pip is the standard unit used to measure price changes and risk distance. For most non-JPY pairs, 1 pip is 0.0001. For JPY pairs, 1 pip is 0.01. MT5 and cTrader also show fractional pips, called pipettes, using an extra decimal place.
Typical lot sizes are:
- Standard lot: 100,000 units of the base currency
- Mini lot: 10,000 units of the base currency
- Micro lot: 1,000 units of the base currency
Minimum tradable size is usually 0.01 lots (one micro lot) on all three platforms, while the maximum size can reach 100 standard lots or more on major pairs, depending on the instrument and account settings.
Pip display and precision on each platform
Pip and price display differ slightly by platform, mainly in the number of decimal places:
| Platform | Pip display precision | JPY pairs precision | Fractional pips |
|---|---|---|---|
| MT4 | 4 decimals (5 with pipettes) | 2 decimals | Yes |
| MT5 | 5 decimals | 3 decimals | Yes |
| cTrader | 5 decimals | 3 decimals | Yes |
On MT4, most pairs are shown with four main decimals, with an optional fifth decimal for pipettes. MT5 and cTrader use five decimals for most pairs and three for JPY pairs. The extra decimal makes it possible to quote half-pip or smaller changes, but risk management still usually refers to whole pips.
How pip value is calculated from lot size
When a client selects a lot size and opens an order, the platform calculates:
01
The nominal position size in base currency
02
The value of 1 pip for that position
03
Real-time profit and loss in pips and in the account currency
For a EUR/USD trade with an account in USD:
- 1.00 lot: about 10 USD per pip
- 0.10 lot: about 1 USD per pip
- 0.01 lot: about 0.10 USD per pip
If the account currency is not the same as the quote currency, each platform converts the pip value using current exchange rates so that profit and loss are shown in the account currency, including rand-based accounts. These conversions are updated as market prices move.
Platform-specific handling of pips and lots
MT4 and MT5
On MT4 and MT5:
01
Symbols and their bid/ask prices are viewed in the Market Watch window
02
The spread is shown as the difference between bid and ask in pips
03
In the order window, the client sets the lot size, and the platform calculates position value and pip impact automatically
04
A click on buy or sell sends a market order with the specified lot size
MT5 extends order management compared to MT4. It offers extra order types such as buy stop limit and sell stop limit. These allow both a trigger price and an execution price, effectively working with specific pip distances. MT5 also supports partial closure of positions, so part of the lot size can be closed while the rest stays open.
cTrader
cTrader applies the same pip and lot rules but adds more detailed controls:
- Price is displayed with high decimal precision and pip value is updated in real time
- Market range orders allow a pip-based slippage tolerance, so a maximum pip distance from the requested price can be set
- Stop loss and take profit can be moved visually on the chart with click-and-drag actions, with the exact pip distance shown from the entry price
These visual tools use the same underlying pip calculations as the MetaTrader platforms but can make manual pip-based adjustments easier to see.
Using pips and lots to manage risk
All three platforms allow risk to be set in terms of pips and then translated into a suitable lot size. A common approach is:
01
Decide how much to risk in the account currency for the trade
02
Choose a stop loss distance in pips
03
Divide the total risk by the risk per pip to get the lot size
For example, if a client wants to risk a specific rand amount and knows the stop loss distance in pips, the platform tools or external calculators can be used to derive the lot size that matches that risk. The calculation logic is consistent on MT4, MT5 and cTrader.
On MT4 and MT5, Expert Advisors can automate this process by reading account balance and pip distance and then setting lot sizes dynamically. On cTrader, similar automation is available through cBots using C#. In each case, the robot or script uses pip-based risk parameters and standard lot units.
Spreads, account types and mobile trading
Spread costs remain expressed in pips across platforms and account types. Some accounts focus on tighter raw spreads, often starting from zero pips on major pairs with a separate commission per lot. Other accounts embed costs in the spread, which can typically range from about one to several pips on major pairs depending on liquidity and market conditions.
MT4, MT5 and cTrader mobile apps apply the same pip and lot logic as their desktop versions. On mobile:
01
Lot sizes can be set in the order ticket
02
Profit and loss are displayed in pips and in the account currency
03
Stop loss and take profit levels can be adjusted by pip distance
Screen layouts differ, but pip values, lot sizes and conversion to account currency follow the same rules as on desktop platforms.
Frequently asked questions
What is the difference between a pip and a pipette on MT5 and cTrader?
A pip is the standard smallest price movement, typically 0.0001 for most major pairs like EUR/USD or 0.01 for JPY pairs. A pipette is a fractional pip shown on MT5 and cTrader using an additional decimal place, allowing more precise price display than the standard four or two decimals.
How much is one pip worth when trading a mini lot on EUR/USD?
For a mini lot (10,000 units) on EUR/USD, one pip movement equals approximately 1 USD when your account is denominated in USD. If your account uses a different currency, the platform automatically converts the pip value to your account currency at the current exchange rate.
Can I use the same lot sizes across MT4, MT5 and cTrader?
Yes, standard lot sizes work the same way across all three platforms: standard lots are 100,000 units, mini lots are 10,000 units, and micro lots are 1,000 units of the base currency. The pip value calculation and lot sizing logic remain consistent regardless of which platform you choose.