How it works:
All you need is your base currency, the currency pair you are trading on, account type and your position size in order to calculate the value of a pip.
The calculation is performed as follows:
Pip Value in USD = (One Pip / Exchange Rate) * Lot Size
Exchange rate is the conversion rate of Quote Currency to account based currency chosen.
One Pip: 0.0001
Account Base Currency: USD
Currency Pair: CADCHF
Exchange Rate: 1.01883 (USD/CHF)
Lot Size: 1 Lot (100,000)
Pip Value in CHF = 0.0001 * 100,000
Each Pip is worth 10CHF
Pip Value in USD = 0.0001 / 1.01883 * 100,000
Each Pip is worth 9.81USD