Pip Value Calculator
Calculate how much each pip is worth in USD for any forex pair and lot size.
Pip Value = Pip value per standard lot × Effective lots
= $10.00 × 1.00
= $10.00 per pipWhat is a Pip Value?
A pip (percentage in point) is the smallest standard price move in forex. For most pairs it's 0.0001, for JPY pairs it's 0.01. The pip value tells you how much money you gain or lose per pip of price movement based on your lot size.
For a standard lot (100,000 units), 1 pip on EUR/USD is worth $10. A mini lot (10,000 units) is $1 per pip, and a micro lot (1,000 units) is $0.10 per pip. This calculator handles the conversion automatically for any pair.
Common questions
How much is one pip worth?
For a standard lot on a pair quoted in USD, one pip is $10. A mini lot is $1 and a micro lot is $0.10. When the quote currency is not USD the value has to be converted at the current rate, which is why pip value drifts as the market moves.
How is pip value calculated on JPY pairs?
JPY pairs are quoted to two decimals, so a pip is 0.01 rather than 0.0001. For one standard lot the pip value is 1,000 yen, converted to your account currency at the live USD/JPY rate — around $6.50 at a rate of 154, and it changes every time the rate does.
What is a pip on gold (XAU/USD)?
Gold has no true pip, so brokers pick a convention. A standard lot is normally 100 ounces, which makes a $1.00 move worth $100 and a $0.01 move worth $1. Check whether your platform calls $0.01 or $0.10 a 'pip' before relying on any number.
Does pip value depend on my account currency?
Yes. The pip value is calculated in the quote currency and then converted into your account currency, so a GBP-denominated account and a USD-denominated account see different pip values on the same trade.
Where we use this
Pip values drive every cost number in our published backtests, commission and spread included.
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