PIP AMOUNT = Total Pips from one Price to Other Price
INSTRUMENT = Currency Pairs, Commodities,
POSITION SIZE = Standard Lot size or Your Desired Size i.e 10 to 100000
ACCOUNT CURRENCY = Choose your BASE CURRENCY
Here you need to put your pips. For Example, if you want to calculate the pip value of 30 pips, then you need to enter ‘30’ on PIP Amount field or select calculator option right side on the text box and put desired currency pairs value in “from” and “to” text boxes.
In instrument section you need to select the desired currency pair,commodities, CFDs and others from the drop-down menu, for which pair you want the details for.
It’s actually asking your position size according to your Account Type. If you have Standard Account then you need to put 100,000 units there but if you have Micro or mini Account then please enter 1,000 units there.
Here you need to select your Base-Currency which you choose during your account registration time, mostly forex trader select USD as their base currency.