Pip value calculator
See what one pip is worth in your account currency, for any pair and position size. It runs in your browser and nothing is stored.
Your numbers
Find out what one is worth in your own money.
The currency your trading account is held in, so the answer is in your own money.
Trade size in . 1 standard lot is 100,000 units, a mini lot is 0.1 and a micro lot is 0.01.
Your answer
One pip on a position of 1 standard lot of EUR/USD is worth $10.00 in your USD account. If the price moves 10 pips, you gain or lose $100.00.
- Per pipette (0.1 pip)
- $1.00
- Size of one pip
- 0.0001
- Trade size (units)
- 100,000
- A 10 pip move
- $100.00
+Show the working
- Position size in units = 1 standard lot × 100,000 = 100,000 units.
- Pip value in USD = 100,000 units × 0.0001 (the size of a pip) = 10 USD.
- USD is also your account currency, so no conversion is needed.
- A pipette is a tenth of a pip: $10.00 ÷ 10 = $1.00.
EUR/USD live price
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For information only, not financial advice. Trading carries a high risk of loss. Results depend on the values you enter and on your broker's contract specifications. Risk disclosure
What is a pip?
A pip is the smallest standard step in a forex price. On most currency pairs it is the fourth decimal place, 0.0001, so a move in EUR/USD from 1.0850 to 1.0851 is one pip. On pairs that include the Japanese yen, a pip is the second decimal place, 0.01, because yen prices are quoted with far fewer decimals: USD/JPY moving from 150.00 to 150.01 is one pip.
Most brokers now quote one extra digit. That extra digit is a pipette, one tenth of a pip. The pip value calculator above shows the value of a pip and of a pipette, so it works with either way your broker displays prices.
How pip value is calculated
A pip is only a price distance. To turn it into money you need the size of your position and the currency your account is held in. The calculation has two steps.
- Pip value in the quote currency = pip size × position size in units.
- Convert that amount to your account currency using the current exchange rate. If the quote currency already is your account currency, there is nothing to convert.
Worked examples
- EUR/USD, one standard lot, USD account: 0.0001 × 100,000 = $10 per pip. A mini lot (10,000 units) is $1 per pip and a micro lot (1,000 units) is $0.10.
- USD/JPY at 150, one standard lot, USD account: 0.01 × 100,000 = 1,000 yen per pip. Divide by the price of 150 to get about $6.67.
- EUR/GBP, one standard lot, USD account: 0.0001 × 100,000 = £10 per pip. If £1 buys $1.27, one pip is worth $12.70.
Pip value for one standard lot
Pairs quoted in US dollars have a fixed pip value of $10 per standard lot in a USD account. For other pairs the value depends on the exchange rate, so the figures below are approximate and use the price shown.
| Pair | Pip value in a USD account | Note |
|---|---|---|
| EUR/USD, GBP/USD, AUD/USD, NZD/USD | $10.00 | Quote currency is USD, so it is exact |
| USD/JPY | about $6.67 | At a price of 150 |
| USD/CAD | about $7.30 | At a price of 1.37 |
| USD/CHF | about $11.36 | At a price of 0.88 |
Gold and other instruments
Gold (XAU/USD) is usually traded with a contract of 100 troy ounces per standard lot, and many brokers call a 0.10 move one pip, which makes one pip worth $10 per lot. Some brokers define a pip for gold as 0.01 instead, which makes it $1. Because this differs from broker to broker, check the contract specification for gold on your own platform before relying on any calculator.
Tips
- Update the exchange-rate box when it appears. The pre-filled number is only a rough guide.
- Check the contract size and pip definition in your broker's specification for each instrument, especially for metals, indices and exotic pairs.
- Remember that spreads, commissions and swaps are costs on top of the pip movement itself.
- Pip value is one input to position sizing. Work out the amount you are willing to lose before you choose a size.
Frequently asked questions
+What is the pip value of EUR/USD?
For a standard lot of 100,000 units in a USD account, one pip of EUR/USD (0.0001) is worth $10. A mini lot is worth $1 and a micro lot $0.10.
+Why is the pip value different for USD/JPY?
A pip on yen pairs is 0.01, not 0.0001, and the result is first worked out in yen. For one standard lot that is 1,000 yen, which is then converted to your account currency. At a price of 150 it is about $6.67.
+What is the difference between a pip and a pipette?
A pipette is one tenth of a pip, the fifth decimal place on most pairs (the third on yen pairs). Many brokers quote prices to the pipette, so a move from 1.08500 to 1.08510 is one pip, or ten pipettes.
+Does the pip value change over time?
Yes, if the quote currency of the pair is not your account currency. The value is converted at the current exchange rate, so it moves a little as rates move. It also grows and shrinks with your position size.
+How is pip value used for position sizing?
Divide the amount you are willing to lose by your stop loss in pips multiplied by the pip value of one lot. The result is the number of lots that keeps the loss at that amount if the stop is hit.