Pips to Price Converter
Convert between pips, points and price distance for any instrument, using your own broker's pip size.
Pips, points and ticks are three different units, they are routinely used as if they were one, and the confusion between them is responsible for more arithmetic errors than any other convention in currency trading. This Pips to Price Converter turns a distance expressed in any of them into the others: it works as a pips to price calculator when the stop or target you have is measured in pips, and as a price to pips converter when you have taken the distance straight off a chart. Add a position size and it values that distance in money as well.
Formula: price distance = pips x pip size; pips = price distance / pip size
Your figures
Choose Custom to enter your broker's own pip size and contract size.
A number of pips when converting to a price distance, or a price difference when converting the other way. Negative values are carried through, so a move against a position reads back as one.
Your broker's minimum price increment, if they publish one. Left blank, the tick figures are left out rather than guessed — a tick belongs to the broker, not to the currency.
Units of the base asset, to value the distance. One standard lot is 100,000 units of a currency pair. Leave blank to convert the distance alone.
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
Price distance
0.00500
50.00 pips on EUR/USD, where one pip is 0.0001
- The same distance in pipsThe pip count entered. Multiplied by the pip size, it gives the price distance above.
- 50.00
- Pip size for this instrumentThe price increment one pip represents. 0.0001 for most currency pairs, 0.01 for those quoted in yen, and whatever your broker specifies for a custom instrument.
- 0.0001
- Distance in pointsA point is the last decimal the instrument is quoted to, which here is not the same size as a pip — it is the fractional pip platforms quote. A spread shown as 12 on one is 1.2 pips rather than twelve of them.
- 500.00
- Point size
- 0.00001
- Position size in lotsUnits divided by a contract size of 100,000.
- 1.0000
- Value of one pip in USDPip size multiplied by the position size, in the currency the pair is quoted in.
- 10.00
- Value of the distance in USDThe price distance multiplied by the position size, before any conversion.
- 500.00
- Value of the distance in your account currencyConverted at the quote-to-account rate entered above.
- US$500.00
What this means
One pip on EUR/USD is 0.0001, so 50.00 pips and a price distance of 0.00500 are the same measurement written two ways, and 500.00 points once the extra decimal most platforms quote is counted. At 100,000 units the distance is worth 500.00 in USD, or US$500.00 at the conversion rate entered. This is a unit conversion: it says how far a distance is, not what happens over it.
- A pip is 0.01 for a pair quoted in Japanese yen and 0.0001 for almost every other pair. That single exception is a factor of a hundred rather than a rounding — 50 pips on EUR/USD is 0.0050, while 50 pips on USD/JPY is 0.50 — and it is the most common error in this arithmetic.
- A point is the last decimal the price is quoted to, so on the five- and three-decimal quotes most brokers publish it is a tenth of a pip. Platforms report spreads in points, which is why a spread of 12 is 1.2 pips.
- Tick size is your broker's minimum increment rather than a property of the currency, so it is used only when you enter it and left out entirely when you do not.
- Choose Custom as the instrument to enter your own pip size and contract size. Nothing here is fixed to a particular broker's specification, and brokers do differ on both.
- The account-currency figure uses the conversion rate you enter. No rate is fetched, so an open position's account-currency value drifts as that rate moves.
Price distance: 0.00500
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Continue with these figures
About the Pips to Price Converter calculation
A pip is the conventional unit a pair is measured in: the fourth decimal place, 0.0001, for almost every currency pair — and the second decimal place, 0.01, for anything quoted in Japanese yen. That single exception is a factor of a hundred rather than a rounding. Fifty pips on EUR/USD is a move of 0.0050, while fifty pips on USD/JPY is a move of 0.50, and anybody who has sized a yen position from a stop measured with the wrong pip has been out by a hundred times in one direction or the other.
A point, in the sense trading platforms use, is the last decimal the price is quoted to. Brokers quote most pairs to five decimals and yen pairs to three — one more place than the pip in each case — so a point is usually a tenth of a pip, the thing also called a pipette or a fractional pip. This is why a spread displayed as "12" on a platform is 1.2 pips rather than twelve of them, and it is why the calculator states plainly whether points and pips are the same size for the instrument you chose.
A tick is different again: it is the smallest increment the instrument actually trades in, which is your broker's business rather than a property of the currency. It is therefore never guessed. Leave the tick size blank and the tick figures are simply left out; enter one and the calculator counts the distance in your broker's increments as well.
Pips to Price Converter formula
price distance = pips × pip size
pips = price distance ÷ pip size
point size = 10 ^ −(decimal places the instrument is quoted to)
points = price distance ÷ point size
ticks = price distance ÷ tick size
value of one pip = pip size × position size
value of the distance = price distance × position size
value in account currency = value of the distance × quote-to-account rate
lots = position size ÷ contract size- pip size
- 0.0001 for almost every currency pair and 0.01 for any pair quoted in Japanese yen. Gold and silver follow their own conventions, and a custom instrument uses whatever pip size you enter.
- point size
- The last decimal place the instrument is displayed to — 0.00001 on a five-decimal major, 0.001 on a three-decimal yen pair. It is derived from the quote precision, not defined as a tenth of a pip.
- tick size
- Your broker's minimum price increment, when they publish one. It belongs to the broker rather than to the currency, so it is used only when you supply it.
- position size
- Units of the base asset. One standard lot is 100,000 units of a currency pair, but metals and custom instruments use their own contract sizes, which is why lots are derived rather than assumed.
- quote-to-account rate
- The rate converting the pair's quote currency into your account currency. Enter 1 when they are the same.
The first two lines are a unit conversion and nothing more, which is exactly why they are worth getting right: a pip distance calculator sits underneath every stop, every target, every spread comparison and every position size calculation anybody performs. An error here does not announce itself as an error. It propagates quietly into a position that is a hundred times too large or a hundred times too small, and the first evidence is the account statement.
The point is derived from the instrument's display precision rather than defined as a tenth of a pip, and that distinction matters more than it appears to. Defining a point as a tenth of a pip would be true for the pairs where it makes no difference and wrong for the instruments where it does — gold quoted to two decimal places has a point and a pip of the same size, and asserting otherwise would report ten times as many points as exist. Deriving it from the quote precision gets both cases right without a special case for either.
The tick is kept strictly separate from both, because a tick is a fact about a venue rather than about a currency. Two brokers offering the same pair can accept different minimum increments, and a broker can change theirs without the currency changing at all. The calculator therefore asks rather than assumes, and omits the tick rows entirely when nothing is entered — an omitted figure is honest, whereas a guessed one is indistinguishable from a measured one.
Valuing the distance is a separate step, deliberately optional. Multiplying the price distance by the position size gives a money figure in the currency the pair is quoted in, and a further multiplication by the quote-to-account rate restates it in your own currency. Keeping the conversion at the very end means the arithmetic runs once in the currency the price actually lives in, and the one assumption the reader has to supply — the conversion rate — stays visible instead of being buried in the middle of the calculation.
Pips to Price Converter: a worked example
Measuring a 35-pip stop on USD/JPY for a 150,000-unit position, with the broker's minimum increment at 0.001 and a US dollar account, converting yen to dollars at 0.005200.
- Pip size for a yen pair0.01, not 0.0001
- Price distance35 × 0.01 = 0.350
- Point sizeUSD/JPY is quoted to 3 decimals, so 0.001
- Distance in points0.350 ÷ 0.001 = 350.00
- Position size in lots150,000 ÷ 100,000 = 1.5000
- Value of one pip in JPY0.01 × 150,000 = 1,500.00
- Value of the distance in JPY0.350 × 150,000 = 52,500.00
- Value in the account currency52,500 × 0.005200 = $273.00
A 35-pip stop is a price move of 0.350 and reads as 350 points on the platform, worth $273.00 on this size. The same 35 pips on EUR/USD would be a move of 0.0035 — a hundred times smaller in price terms — which is the comparison that shows why the yen pip size cannot be treated as a detail.
How to use the Pips to Price Converter
- Choose the instrument first. The pip size follows from it: 0.01 for yen pairs, 0.0001 for the other currency pairs, and the metals' own conventions for gold and silver.
- Pick the direction of the conversion. Pips to price turns a figure expressed in pips into a price difference; price to pips does the reverse, taking a price difference and counting it back into pips and points.
- Enter the distance. Negative values are carried through rather than rejected, so a move against a position can be typed as a negative number and read back as one.
- Enter your broker's tick size only if they publish one. Left blank, the tick rows are omitted rather than filled with an assumption, because a tick is a broker's number and not the currency's.
- Add a position size to value the distance in money, and a quote-to-account rate to restate that value in your own currency. Enter 1 for the rate when the pair's quote currency is already your account currency.
- Choose Custom as the instrument if your broker's specification differs, then enter your own pip size and contract size. Brokers do differ on both, particularly on metals and index products.
Limitations of the Pips to Price Converter
Every calculation makes assumptions. These are the ones that matter here.
- This is a unit conversion, not a trade model. It says how far a distance is and what it is worth at a given size; it says nothing about what happens over that distance.
- The pip conventions built in are the common retail ones. A broker quoting a pair to a different precision, or defining a pip differently on a synthetic instrument, needs the custom option rather than the built-in list.
- Excludes spread, commission and swap. The money value of a distance is the gross figure before any dealing cost is applied to it.
- The account-currency figure uses the conversion rate you enter and no rate is fetched, so an open position's value in your own currency drifts as that rate moves.
- Tick figures appear only when a tick size is supplied. If your broker's increment differs from the one you entered, the tick counts will be wrong even though the pip and point counts remain correct.
Frequently asked questions about Pips to Price Converter
Why is a pip on a yen pair 0.01 rather than 0.0001?
Because the convention follows the size of the numbers rather than a universal rule. One dollar buys of the order of a hundred yen and of the order of one euro, so the fourth decimal place on a yen quote would represent a move a hundred times smaller than the fourth decimal place on EUR/USD. Setting the yen pip at the second decimal keeps a pip a comparable amount of money across pairs, which is the whole purpose of the unit.
What is the difference between a pip, a point and a pipette?
A pip is the conventional unit for the pair. A point is the last decimal the price is displayed to, which on the five-decimal quotes most brokers publish is one tenth of a pip. A pipette is another name for that tenth. The practical consequence is on spread quotes: a platform showing a spread of 12 is showing 12 points, which is 1.2 pips, and reading it as twelve pips overstates the cost tenfold.
My platform shows a spread of 1.4 on EUR/USD — is that pips or points?
A fractional value like 1.4 is almost always pips, since points are whole numbers by construction: they count the last displayed decimal. A whole number in the low tens on a major pair is much more likely to be points. Used as a points to pips converter, this panel settles it — enter the figure both ways and see which produces a price distance that matches the difference between the bid and ask you can actually see on the screen.
Should I enter a tick size if my broker does not publish one?
No. Leave it blank and the calculator omits the tick rows entirely rather than substituting a plausible-looking figure. A tick is the smallest increment a particular venue accepts, it varies between brokers offering the identical pair, and an invented one is indistinguishable in the results panel from a measured one, which makes it worse than no figure at all.
How do pips work for gold and silver?
They follow their own conventions rather than the currency ones. Gold against the dollar is commonly quoted to two decimal places with a pip of 0.01 and a contract of 100 ounces, while silver is quoted to three with a pip of 0.001 and a contract of 5,000 ounces. Because brokers genuinely differ on these, the custom instrument option exists so that the pip size calculator uses the specification your own broker publishes rather than a convention.
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