Silver is one of the most traded metals after gold. Silver or XAGUSD can be easily calculated on the trading platform based on volume size. There are two kinds of brokers and two ways to calculate the silver pip value.
How to calculate silver pips in Metatrader 4 or MT5?
If you trade Silver on the Metatrader platform, then 1 micro lot trading size for 100 pips is $1. If you buy 1 micro lot from 24.51 to 25.51, it is $1 or 100 pips. If you buy 1 mini lot from 24.51 to 25.51, it is $10 or 100 pips. If you buy 1 lot from 24.51 to 25.51, it is $100 or 100 pips. Usually, XAGUSD pip equals $1 for 1 mini lot trade size.
Now, I will present to you a video I made on youtube. Here you can see how each broker has its own different way of silver lot size:
See the image from this video:
Let us see an example of how to calculate pips on silver when we trade on different Metatrader brokers:
In the image above, we have 34.7 pips gain represented. The entry price for silver (XAGUSD) was 24.269, and the closed price was 24.616. It was 34.7 pips gain. As we can see, 1 mini lot and 34.7 pips gain were $34.7, and 1 lot trade gain was 347 dollars.
Let us see
However, there is another way of calculating silver pips. Some trading brokers have different silver pip calculations such as:
How to calculate silver pips in ounces?
To calculate silver pips in ounces, you need to know that usually brokers, 5000 ounces of silver represent one lot. In that case, 1 lot has a $5 pip value.
- 1 lot = 5000 oz. of silver = pip value of $5.00
- 1 mini lot = 500 oz. of silver = pip value of $0.50
- 1 micro lot = 50 oz. of silver = pip value of $0.05
XAGUSD Pip Value
XAGUSD Pip Value can have different values at different brokers. Usually, in MetaTrader, XAGUSD pip value is worth $1 for 1 mini lot trade size. If you buy 1 mini lot from 28.51 to 29.51, it is $10 or 100 pips. Additionally, if you trade silver in ounces, 5000 ounces of silver worth $5 XAGUSD pip value.
We suggest that every trader test on the demo account his positions, create demo trades, and easily see several pips, position size, and a final number of dollars gain or loss.