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Forex Pip Value Calculator
Enter a pair, your account currency and trade size to get the money value of a single pip — the number that turns a stop or target in pips into real currency.
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Pip value
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For a USD-quoted pair on a USD account, one pip is worth about $10 per standard lot, $1 per mini lot and $0.10 per micro lot. The pip value is pip size × trade size in units, then converted into your account currency when that currency differs from the quote currency.
How it works
What pip value means
A pip is the standard last-decimal increment a forex price moves in — 0.0001 for most pairs, and 0.01 for pairs quoted against the Japanese yen. Pip value is what one pip of movement is worth in money on your specific position. It is the bridge between a stop-loss measured in pips and the actual amount of your account currency you stand to win or lose.
The formula
The value is built in two steps. First the value in the pair's quote currency:
pip value (quote) = pip size × units, where units = lots × contract size
Then it is converted into your account currency. If your account currency is the quote currency, no conversion is needed. If it is the base currency, you divide by the price. If it is a third currency, you multiply by the rate that turns the quote currency into your account currency.
How to use this calculator
- Pick the instrument type — a normal forex pair, gold, or an index.
- Type the pair as
BASE/QUOTE(for example EUR/USD or USD/JPY) and your account currency. - Enter your trade size in standard lots (0.1 is a mini lot, 0.01 a micro lot).
- If your account currency is different from the quote currency, a conversion field appears — fill it in and read off the pip value.
Worked example 1 — EUR/USD, USD account
One standard lot of EUR/USD is 100,000 units, and the pip size is 0.0001. So one pip is 0.0001 × 100,000 = 10 in the quote currency, USD. Because the account is also in USD, the pip value is $10 per pip per standard lot. A 50-pip move is $500.
Worked example 2 — EUR/USD, EUR account
The quote-currency value is still 10 USD per pip. With a EUR account you divide by the price: at 1.3449, 10 / 1.3449 = 7.44 EUR for one lot, or about 11.15 EUR for 1.5 lots. The account-currency conversion is the step most people skip.
When pip value matters
Pip value is the input to position sizing, stop and target placement, and comparing the real cost of a wider spread. Get it wrong on a cross pair or a yen pair and every downstream risk number is wrong with it.
Common mistakes
- Forgetting the yen rule. For any pair quoted in JPY the pip size is 0.01, not 0.0001 — miss this and you are off by a factor of 100.
- Converting a cross pair twice. For EUR/GBP on a USD account the quote-currency value is 10 GBP, which you convert once via GBP→USD. Some online tables divide by the EUR/GBP rate as well and report the wrong number.
- Treating gold and indices like forex. Gold has its own contract size and two competing pip definitions; an index moves in points whose value is broker-specific. This tool keeps those separate so you can set the right one.