Pip value calculator
Pick a currency pair, your account currency and your trade size to see how much one pip is worth. If the conversion needs a price or an exchange rate, the calculator asks only for that one number.
Result
Fill in the fields to see the result
Pip value with a USD account
| Pair | 1 lot | 0.1 lot | 0.01 lot |
|---|---|---|---|
| EUR/USD | 10.00 USD | 1.00 USD | 0.10 USD |
| GBP/USD | 10.00 USD | 1.00 USD | 0.10 USD |
| AUD/USD | 10.00 USD | 1.00 USD | 0.10 USD |
| NZD/USD | 10.00 USD | 1.00 USD | 0.10 USD |
| XAU/USD | 1.00 USD | 0.10 USD | 0.01 USD |
For any pair quoted in US dollars, one pip on a standard lot is always worth 10 USD, whatever the price. Gold assumes a 100-ounce lot and a 0.01 pip.
How it works
A pip is the conventional unit for a price move in forex. For most pairs it is the fourth decimal place, 0.0001; for pairs quoted in Japanese yen it is the second decimal place, 0.01. Most platforms quote one more digit than the pip. That extra digit is called a point (or pipette) and is worth one tenth of a pip.
The value of a pip is first calculated in the quote currency, the second currency of the pair: pip size × contract size × lots. One standard lot is 100,000 units of the base currency, so one pip on EUR/USD is 0.0001 × 100,000 = 10 US dollars.
If your account is in the quote currency, that is the answer. If your account is in the base currency, as with USD/JPY on a dollar account, the calculator divides by the current price: 1,000 yen at 150.00 is 6.67 dollars. If your account currency is not in the pair at all, for example EUR/GBP on a dollar account, you need one exchange rate between the quote currency and your account currency, here GBP/USD.
Because the conversion uses a live price, the pip value of a pair that is not quoted in your account currency changes slightly as the market moves. Pairs quoted in your account currency have a fixed pip value. Gold and silver use ounces instead of currency units, and brokers disagree on what a pip is, so check the contract size and pip size on your platform and edit them under contract specs if needed.
Knowing the pip value lets you turn a stop loss or a profit target measured in pips into money. It is the basis of the lot size calculation: lots = money at risk ÷ (stop in pips × pip value per lot).
Formula
- Pip value (quote currency) = pip size × contract size × lots
- Account = quote currency: no conversion
- Account = base currency: pip value ÷ price of the pair
- Otherwise: × or ÷ the exchange rate between the quote currency and the account currency
- Point value = pip value × point size ÷ pip size
Example
EUR/GBP, 1 lot, USD account, GBP/USD at 1.2700: 0.0001 × 100,000 = 10 GBP per pip, and 10 × 1.2700 = 12.70 USD per pip. A 0.1 lot trade moves 1.27 USD per pip.
FAQ
How much is one pip worth on a standard lot?
For pairs quoted in your account currency, such as EUR/USD on a USD account, 10 units of that currency. For other pairs it depends on the price or exchange rate used for the conversion.
What is the difference between a pip and a point?
A pip is the fourth decimal (the second for yen pairs). A point is the smallest step the platform quotes, usually one tenth of a pip. MT4 and MT5 show stops and spreads in points, so 50 points equal 5 pips.
Why is the pip value of USD/JPY not 10 dollars?
Because the pip is worth 1,000 yen per lot, and turning yen into dollars means dividing by the USD/JPY price. At 150.00 that is 6.67 dollars; at 140.00 it would be 7.14.
What is a pip on gold?
There is no single answer. Many brokers call 0.01 a pip on XAU/USD, which is worth 1 dollar per 100-ounce lot; others use 0.1, worth 10 dollars. Set the pip size to match the convention you use.
Does the pip value change over time?
Only when a conversion is needed. A pair quoted in your account currency always has the same pip value per lot. Other pairs change with the price or exchange rate.
What lot sizes can I use?
Any size your broker allows. Common sizes are 1 standard lot (100,000 units), 0.1 mini lot and 0.01 micro lot. The calculator accepts any positive number.
Does the calculator include spread or commission?
No. It only converts a price move into money. Spread, commission and swap are separate costs.
Other calculators
Calculations only, not investment advice. Check fees, margin rates and contract specs with your broker or exchange.