Pip Value Calculator
Calculate what one pip is worth for a given position size, in the quote currency and in your account currency.
A pip is the standard increment a currency pair moves in — the fourth decimal place for most pairs, the second for anything quoted in Japanese yen. A pip value calculator answers what a pip is worth in money for a given position size, which is the figure most other trade arithmetic is built on.
Formula: pip value = pip size × units × quote-to-account rate
Your figures
Choose Custom to enter your broker's own pip size and contract size.
How large the position is, in the unit selected above.
Rate to convert the pair's quote currency into your account currency. Enter 1 if they are the same.
Price increment of one pip. Only used when Instrument is Custom.
Units of the base asset in one lot. Only used when Instrument is Custom.
Results
Value of one pip
US$10.00
for 100,000 units of EUR
- Pip value in USD (quote currency)
- 10.00
- Pip size for this pair
- 0.0001
- Position size in lots
- 1.0000
- Per standard lot (100,000)
- US$10.00
- Per mini lot (10,000)
- US$1.00
- Per micro lot (1,000)
- US$0.10
What this means
Each one-pip move in EUR/USD changes the value of this position by US$10.00. A 20-pip move is therefore worth US$200.00. Pip value is fixed by position size — it does not change as the price moves.
- A conversion rate of 1 assumes your account is denominated in USD. If it is not, enter the rate that converts USD into your account currency.
Value of one pip: US$10.00
The link reopens this calculator with the same numbers. Nothing you enter is sent to a server.
Continue with these figures
About the Pip Value calculation
This pip calculator converts a position size into a pip value, first in the pair's quote currency and then in your account currency. It is the number that turns a stop-loss measured in pips into a loss measured in dollars, euros or pounds.
Forex pip value depends only on position size and the exchange rate used to convert it. It does not change as the price moves, which is why it can be calculated once and reused across every trade of that size.
Pip Value formula
pip value (quote currency) = pip size × units
pip value (account currency) = pip value (quote) × quote-to-account rate
standard lot = 100,000 units
mini lot = 10,000 units
micro lot = 1,000 units- pip size
- 0.0001 for most pairs; 0.01 for JPY-quoted pairs.
- units
- Position size in units of the base currency (the first in the pair).
- quote currency
- The second currency in the pair — the one the price is denominated in.
The first line is the whole calculation. A pip is a price increment, and multiplying a price increment by the number of units gives a money amount in the currency the price is quoted in.
For EUR/USD, one pip on a standard lot is 0.0001 × 100,000 = 10 US dollars. For USD/JPY, the pip is a hundred times larger at 0.01, so one pip on a standard lot is 1,000 yen — a very different number, but a broadly similar amount of money once converted.
The second line exists because your account is not necessarily denominated in the quote currency. Converting at the end keeps the arithmetic clean and makes the assumption visible rather than buried.
Pip Value: a worked example
Holding one standard lot of GBP/USD in a sterling-denominated account — chosen deliberately so the account currency differs from the quote currency — with GBP/USD trading at 1.2650 so one US dollar is worth about 0.7905 pounds.
- Pip size0.0001 (not a yen pair)
- Units1 lot × 100,000 = 100,000
- Pip value in USD0.0001 × 100,000 = $10.00
- Convert to GBP$10.00 × 0.7905 = £7.91
Each pip is worth about £7.91 in that sterling account. A 30-pip stop on this position therefore risks roughly £237.
How to use the Pip Value calculator
- Choose the currency pair. The calculator sets the pip size automatically based on whether the quote currency is the yen.
- Pick whether you want to enter the size in lots or in units, then enter it.
- Enter the rate converting the quote currency into your account currency. Leave it at 1 if they are the same.
- Read the pip value for your position, plus the reference pip value per lot at standard, mini and micro size.
Limitations of the Pip Value calculator
Every calculation makes assumptions. These are the ones that matter here.
- Some brokers quote an extra decimal place — a 'pipette', a tenth of a pip. This calculator works in whole pips.
- The conversion rate moves, so the account-currency pip value of an open position drifts as that rate changes.
- Excludes spread and commission, which are separate costs from the pip value itself.
Frequently asked questions about Pip Value
Why is the JPY pip value so different from other pairs?
The pip size is 0.01 rather than 0.0001, a hundred times larger, so a standard lot of USD/JPY moves 1,000 yen per pip instead of 10 dollars. Once converted at roughly 150 yen to the dollar, that is about $6.67 — the same order of magnitude, expressed in a different currency.
Does pip value change as the price moves?
The value in the quote currency does not — it is fixed by position size. The value in your account currency changes slightly as the conversion rate moves, but for pairs where the quote currency is your account currency, it is constant.
What is a pipette?
A tenth of a pip, shown as a fifth decimal place on most pairs or a third on yen pairs. Brokers quote them for finer pricing. To get a pipette value, divide the pip value by ten.
What conversion rate should I enter?
The rate that converts the pair's quote currency into your account currency. For a US dollar account trading EUR/USD it is simply 1, because the quote currency is already the dollar; for a sterling-denominated account it is the USD-to-GBP rate, roughly the inverse of GBP/USD. Your broker's rate is the one that will actually be applied.
Last reviewed . See our methodology and editorial policy.
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