Pip Costing for A Trade

Hi

Can somebody please help I am desperate for this answer.

Problem

How is my Demo account, working out the pip costing for a trade?
I need this for a spread sheet I am working on for my live account.

Details


Mt4 Platform with Alpari UK

Currency is GBP/JPY

Micro Account

Buy price is 212.51
Ask price is 212.58
= -7 pip spread

The trade is a buy at 0.06 lots

Account Leverage is 100:1

Balance = £2000.00
Equity = £1998.02
Margin = 60.00
Free Margin = £1938.02 (This is Balance minus margin, minus spread)
Margin Level = 3330.03%

Spread is currently at -7 Pips showing a cost of -£1.98

So -£1.98 / 7 equals -0.28285 per pip

Question

I believe the actual pip cost for micro account is 0.0929 per pip, I just don’t understand the relationship of this to the -£1.98 spread cost I have in the above details. How is this relationship worked out in meta-trader?

Sorry it’s long winded, but I need to know how this exactly works.

Thanks in advance
Peter.

are you asking how much each pip is worth or how much it will cost you to purchase the micro lot??

If you need to know how much each pip is worth for your example: (0.01/Price)* 1,000

Thanks for the reply

I hope this is more clearer!

What I want to know is the calculation behind the maths for metatrader to arrive at - £1.98 for the -7 pip spread I have showing in the attached snapshot with the trade setup details I have stated

Peter.