A pip value calculator answers one question fast: how much money does one pip of movement add or remove at your trade size? Pick your instrument, enter your lot size and account currency below, and the tool returns the answer instantly. It also shows a quick reference table for standard, mini, and micro lots. Everything runs in your browser. No login, no download, no data sent anywhere.
Pip value calculator
1.00 = standard lot, 0.10 = mini, 0.01 = micro.
Rate that converts the pair's quote currency into your account currency. Use 1 when your account currency equals the quote currency (for example, a USD account trading EURUSD).
10.00 USD
per pip
| Lot size | Pip value |
|---|---|
| 1.00 (standard) | 10.00 USD |
| 0.10 (mini) | 1.00 USD |
| 0.01 (micro) | 0.10 USD |
What a pip actually is
A pip is the standard unit of price movement in forex. On most currency pairs, it sits at the fourth decimal place. When EURUSD moves from 1.0850 to 1.0851, that is one pip. Yen pairs are the exception. Because one yen is worth far less than one dollar or euro, JPY pairs are quoted with fewer decimals, and a pip sits at the second decimal place. USDJPY moving from 147.20 to 147.21 is one pip.
Modern platforms usually quote one extra digit beyond the pip: a fifth decimal on most pairs, a third on yen pairs. That extra digit is a pipette, one tenth of a pip. It exists so brokers can quote tighter spreads. It also causes most pip-counting confusion, because a move of 25 points on a five-digit quote is only 2.5 pips. Always check how many decimals your platform shows before you count anything.
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How to use this pip value calculator
The pip value calculator above needs four inputs. Here is the exact sequence.
- Pick your instrument. The list covers the four major USD-quoted pairs, the three USD-based majors, and gold. The tool sets the correct pip size and contract size for each one automatically.
- Enter your lot size. Use 1.00 for a standard lot, 0.10 for a mini lot, or 0.01 for a micro lot. Any value in between works too.
- Choose your account currency. This is the currency your broker shows your balance in, not the currencies inside the pair.
- Set the quote-to-account exchange rate. Leave it at 1 when your account currency matches the pair's quote currency. A USD account trading EURUSD needs no conversion. When they differ, enter the current rate that converts one unit of the quote currency into your account currency. A USD account trading USDJPY converts yen to dollars, so with USDJPY at 147.20 you would enter roughly 0.0068.
- Read the result. The panel shows pip value at your exact size, plus the reference table for 1.00, 0.10, and 0.01 lots. The tool recalculates the moment you change any field.
Pip value is only half of trade planning. It tells you what a pip is worth; it does not tell you how many lots to trade for your stop distance and risk budget. For that second step, feed the result into the position size calculator.
Why pip value changes with the pair and your account currency
Pip value follows one formula: pip size, times contract size, times lots, times the conversion rate into your account currency. Two of those four terms change from pair to pair, which is why a pip is not worth the same everywhere.
Work through two cases with a USD account and one standard lot. On EURUSD, the pip size is 0.0001 and the contract is 100,000 euros. One pip changes the position value by 0.0001 × 100,000 = 10 units of the quote currency. The quote currency is USD, so no conversion is needed. Result: $10 per pip, every time, at any EURUSD price.
On USDJPY, the pip size is 0.01 and the contract is 100,000 dollars. One pip is worth 0.01 × 100,000 = 1,000 units of the quote currency. But the quote currency is yen, and your account is in dollars. At USDJPY 147.20, those 1,000 yen convert to about $6.79. When USDJPY rises to 150.00, the same 1,000 yen convert to only $6.67. So pip value on this pair drifts as the price itself moves.
The same logic applies to any account currency. A EUR account trading EURUSD earns pips in dollars, which must then be converted into euros at the current EURUSD rate. That is exactly what the exchange rate field handles.
Gold "pips": conventions differ by broker
Gold needs an honest caveat. Forex pairs have one agreed pip definition. XAUUSD does not. This calculator uses the most common retail convention: a pip is a $0.01 move in the gold price, with a contract size of 100 ounces per standard lot. Under that convention, one pip on 1.00 lots is worth $1.00, and gold moving from 2,650.00 to 2,651.00 is 100 pips.
Other brokers call a $0.10 move a pip, and a few quote contract sizes other than 100 ounces. The same one-dollar rally then counts as 10 pips instead of 100, and every pip-based stop or target changes meaning. Before you size a gold trade, open your broker's contract specifications in MT4 or MT5 (right-click the symbol, then Specification) and check the contract size and tick value directly. If your broker's numbers differ from the convention here, trust the specification window. The tools in the best MT4 indicators guide work with points and prices, so they stay correct under either convention.
Pip value FAQ
Why is my broker's pip value slightly different?
Two usual reasons. First, contract specifications differ: some brokers use non-standard contract sizes, especially on gold, indices, and exotic pairs. Second, the account currency conversion uses a live rate that moves every second, while this tool uses the rate you typed in. Check the symbol's Specification window in your platform for the exact tick value your broker applies.
What is a pipette?
A pipette is one tenth of a pip, the fifth decimal on most pairs and the third decimal on yen pairs. Brokers quote it to offer tighter spreads. Ten pipettes equal one pip.
How many pips is a point?
A point is the smallest price increment your platform quotes. On a five-digit broker, one point is one pipette, so one pip equals ten points. On an old four-digit quote, one point equals one pip. MQL programmers meet this as the Point variable in MT4 and MT5.
Does this calculator predict trade outcomes?
No. It reports the money value of one pip at your chosen size and rate, nothing more. Trading involves risk, results are not guaranteed; past performance is not indicative of future results.
Related tools: trade risk visualizer, profit calculator and pivot point calculator, plus the full free forex tools directory.
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