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What is a point and how do I calculate the point value?

Updated 2 weeks ago

A point is the smallest possible price change.
For example 1 point on EURUSD with 5 decimals is 0.00001.

The calculation for the point value is as follows:

Example: 1 Lot of EURUSD
0.00001 * 100,000 (Contract Size) = 1 USD
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