Free tool
Pip value calculator
Free pip value calculator for major and cross pairs and gold. See what one pip is worth at your lot size, in your account currency, with the formula.
Quick answer: a pip is worth pip size × units, in the pair's quote currency. For any pair quoted in US dollars, such as EUR/USD, a standard lot (100,000 units) is worth $10 a pip, a mini lot $1 and a micro lot $0.10. For other pairs, convert that amount into your account currency.
Pip value
| Lot | Units | Per pip | Per 10 pips |
|---|---|---|---|
| Standard (1.00) | |||
| Mini (0.10) | |||
| Micro (0.01) |
Gold: one pip here is $0.01 and one lot is 100 ounces. Many platforms quote gold moves in $0.10 or $1 "points", so check what your platform calls a pip.
Illustrative prices. Type your platform's live price. Conversions between other currencies use illustrative rates.
How it's calculated
A pip is the standard unit of price movement: 0.0001 on most pairs and 0.01 on pairs quoted in Japanese yen. Its money value, the pip value, comes out in the quote currency (the second currency in the pair) first:
Pip value = pip size × units traded, then converted into your account currency
Units traded is the lot size times 100,000 for currency pairs (100 ounces per lot for gold in this calculator). The conversion depends on where your account currency sits in the pair:
- If your account is in the quote currency (EUR/USD on a dollar account), there is nothing to convert.
- If your account is in the base currency (USD/JPY on a dollar account), divide by the pair's price.
- Otherwise, multiply by the rate between the quote currency and your account currency.
Worked example
You hold 1 standard lot of USD/JPY at 150.00 on a US dollar account. One pip is 0.01 × 100,000 = ¥1,000. Your account is in the base currency, so divide by the price: ¥1,000 ÷ 150 = $6.67 per pip. A 20-pip move is worth about $133.33.
Now take 1 lot of EUR/GBP on the same dollar account. One pip is 0.0001 × 100,000 = £10. Neither currency is yours, so convert at GBP/USD, say 1.2700: £10 × 1.27 = $12.70 per pip. That is why the same stop in pips risks more money on EUR/GBP than on EUR/USD.
Common mistakes
- Assuming every pair is $10 a pip. That only holds for pairs quoted in US dollars on a dollar account. Yen pairs, crosses and non-dollar accounts all differ.
- Counting points as pips. Platforms show a fifth decimal (a pipette). A 50-point stop is 5 pips, not 50.
- Forgetting the size. The pip value scales with lots. 0.10 lots is a tenth of the standard-lot figure, so check the size you will actually trade.
Next step: use the pip value to size a trade with the position size calculator, or see what a finished trade made or lost with the profit and loss calculator.
Frequently asked questions
How much is a pip worth on EUR/USD?
On a US dollar account, one pip on EUR/USD is worth $10 for a standard lot (100,000 euros), $1 for a mini lot and $0.10 for a micro lot. The same is true for every pair quoted in US dollars, such as GBP/USD and AUD/USD. On a euro or pound account, convert that $10 into your currency.
Why does the pip value of USD/JPY keep changing?
USD/JPY is quoted in yen, so a pip on one standard lot is worth ¥1,000. Your platform converts that into your account currency at the current rate. At 150.00 it is $6.67; at 140.00 it is $7.14. The pip value moves a little every time the price does.
What is the difference between a pip and a pipette?
A pip is the fourth decimal place on most pairs (0.0001) and the second on yen pairs (0.01). A pipette, or point, is a tenth of a pip: the fifth or third decimal your platform shows. A 10-point move on most platforms is one pip.
What is a pip on gold?
There is no single standard. This calculator treats $0.01 as one pip on XAU/USD and one lot as 100 ounces, so a pip is worth $1 per lot and a $1 move in the gold price is worth $100 per lot. Many platforms call $0.10 or $1 a point, so check your contract specification.