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How to calculate the cost of one point.

Formula: <Cost of 1 point> = (Contract * (Price + One point)) - (Contract * Price),
 
Example: Calculation of one point of the EURGBP. The currency of the trading account is the US dollar.
 
A trader opens a position:
 
BUY a lot EURGBP at 0.8365
Contract = 100,000
Price = 0.8365
One point = 0.0001
  1. The cost of 1 point for «BUY a lot EURGBP 0.8365» = (100.00 * (0.8365 +0,0001)) - (100.000 * 0.8365) = 10 GBP;
  2. Since the currency of the trading account is USD, the profit and losses are calculated in USD. Therefore, the cost of 1 point calculated in GBP should be converted into USD;
  3. 10 GBP * GBP / USD rate = 10 * 1.5417 = 15.47 USD.
 
Thus, the cost of 1 point for «BUY 1 lot EURGBP 0.8365» amounted to 15.47 USD.