Pip value
Pip value
Estimate the pip value based on the symbol, lot size, and account currency.
Pip value / lot
10.00 $
Total value
10.00 $
One pip, three volumes
This tool works out how much one pip is worth for the instrument you trade, expressed in your account currency. Type in the symbol (EURUSD, GBPJPY, XAUUSD and so on) and your volume in lots, and it shows two numbers: the value of one pip for a standard lot, and the total value for your position.
Knowing the pip value turns a price move into real money. A 30-pip stop says nothing until you know what each pip weighs: on EURUSD with 1 lot, one pip is worth about 10 dollars, so those 30 pips represent 300 dollars. It is the basic building block behind every position size and risk calculation.
The formula
Pip value = pip size × contract size × exchange rate into the account currency. The pip size depends on the instrument: 0.0001 for most pairs (EURUSD), 0.01 for yen pairs (USDJPY). The contract size is that of one standard lot, which is 100,000 units for forex. Example: 0.0001 × 100,000 × 1 = 10 dollars per pip for 1 lot of EURUSD on a dollar account. The total value then multiplies that figure by your number of lots.
A worked example · USDJPY, where intuition gets it wrong
Take USDJPY with 1 standard lot, on a dollar account. The pip is the second decimal, so 0.01 yen. A standard lot is 100,000 units: 0.01 × 100,000 = 1,000 yen per pip. But your account runs in dollars, so a conversion applies: at the tool's indicative rate ($0.0065 per yen), 1,000 yen comes to $6.50. That is exactly what the calculator shows: $6.50 per pip per lot, so $0.65 for a 0.10 mini lot. Run the same numbers on EURUSD: 0.0001 × 100,000 = $10, no conversion needed since the quote is already in dollars. Two major pairs, two different pip values · and it is the quote currency, not the pair's fame, that decides.
Pip value by instrument · dollar account
Every amount comes from the calculator above, with its indicative exchange rates · type the symbol in and you will find it again.
| Instrument | Micro · 0.01 lot | Mini · 0.10 lot | Standard · 1 lot |
|---|---|---|---|
| EURUSD | $0.10 | $1.00 | $10.00 |
| GBPUSD | $0.10 | $1.00 | $10.00 |
| USDJPY | $0.07 | $0.65 | $6.50 |
| USDCHF | $0.11 | $1.13 | $11.30 |
| USDCAD | $0.07 | $0.73 | $7.30 |
| XAUUSD (gold) | $0.10 | $1.00 | $10.00 |
What the number does not say
Pip value tells you what ONE pip weighs, not how many pips a market moves: 30 pips is a breath on GBPJPY and a serious move on EURGBP, and this number cannot see that. The conversion into your account currency uses fixed indicative rates, not a live feed · the order of magnitude is right, the exact cent belongs to your broker. Your broker may also quote different contract sizes on gold or indices: check its specifications if you trade anything beyond forex. And this calculation ignores spread, commissions and swap · what a position costs you is never just its pips.
The classic mistake
Memorising 'one pip = 10 dollars' and applying it everywhere. It is true on EURUSD with 1 lot and a dollar account, and that is about it: on USDJPY a pip is worth $6.50, on USDCHF $11.30, and on a euro account the numbers shift again. Budget a 30-pip stop with the memorised EURUSD value and you are 35% off on a yen pair · not because the analysis is bad, but because the conversion was done from memory. Pip value is calculated per instrument and per account, never recalled.
Frequently asked questions
Why does the pip value change from one pair to another?
A pip is measured in the quote currency, the second one in the symbol: dollars for EURUSD, yen for USDJPY. Whenever that currency is not your account currency, a conversion applies, and that exchange rate is what makes the result vary from pair to pair.
What is the difference between a pip and a pipette?
A pip is the fourth decimal place on most pairs, and the second on yen pairs. Many brokers display one extra decimal, the pipette, worth a tenth of a pip. This tool calculates the value of a pip, not of a pipette.
Is the result exact to the cent?
No · it is an estimate. The conversion into your account currency uses indicative exchange rates that are updated by hand, not a live feed. The gap stays within a few percent: enough to picture what a position weighs, not to do cent-level accounting.
Why isn't a USDJPY pip worth $10 like on EURUSD?
Because the USDJPY pip is measured in yen: 0.01 yen × 100,000 units = 1,000 yen per lot. Converted into dollars at the tool's indicative rate, those 1,000 yen come to $6.50. On EURUSD the pip is already in dollars (0.0001 × 100,000 = $10), no conversion at all. The general rule: pip value follows the quote currency, the second one in the symbol.
Does a pip even exist on gold or indices?
Yes, with different conventions. On gold (XAUUSD) the tool counts a pip of $0.1 on a 100-ounce contract, which makes $10 per lot · the same amount as EURUSD, reached by a completely different route. On indices the pip is a whole point and contract sizes vary widely between brokers. This is where YOUR broker's specifications matter most: the order of magnitude comes from the tool, the exact figure comes from them.
See also
Position size
Work out how many lots to open from your account size, risk percentage and stop loss distance in pips. Free, no sign-up, runs entirely in your browser.
Profit
Work out the profit or loss of a forex, index or metals trade from the entry price, the exit price and the lot size. Free in-browser calculator, no sign-up.
Margin
Work out the margin a forex or CFD position ties up at any leverage: notional value and required margin, in 9 account currencies, free and with no sign-up.