Calculation tool — not trading advice
This calculator is a numerical aid for educational and planning purposes only. The numbers shown are computed from broker pip conventions; live pip values produced by your broker may differ because of spreads, contract specifications, and live pricing.
Nothing on this page is a recommendation to trade any instrument. Forex trading carries substantial risk of loss.
Free tool · Pip value
Pip value calculator
How much one pip is worth in your account currency, for any of the major FX pairs. Use it to know the dollar move per pip before you size a trade.
Fill in the inputs and press Calculate to see the numbers — the math is the same one the platform uses to size trades.
Pip value is computed with the broker convention. Cross-currency pairs need an FX conversion rate — enter the conversion rate estimate in the form above.
Checking your session — saving requires an account.
Background
What is a pip in forex?
A pip is the smallest standard price move in a currency pair. For most pairs that is the fourth decimal place — a move from 1.08234 to 1.08235 in EUR/USD is one pip. For JPY pairs (USD/JPY, EUR/JPY, and the other JPY crosses) the pip is the second decimal place, because the convention is three decimal places of pricing.
Pip value is how much that one-pip move is worth in your account currency for the position size you trade. On a standard lot of a pair quoted directly in your account currency, one pip is $10 — ¥1,000 for JPY-direct pairs. Once the pair is quoted in a currency other than your account currency, you apply a conversion rate to express the pip value in your own currency.
Formula
Pip value formula
pip value = pip size × lot size × conversion rate
Conversion rate is 1 when the pair is quoted in your account currency; otherwise it is how many units of your account currency one unit of the pip-currency is worth.
Worked example — EUR/USD, standard lot (100,000 units), USD account: pip size is 0.0001, lot size is 100,000, conversion rate is 1. So one pip is worth 0.0001 × 100,000 × 1 = $10. On a mini lot the same setup is $1 per pip; on a micro lot, $0.10 per pip.
Reference
Pip value by pair
Every supported pair, with its pip size and the pip value you can expect for a standard lot in the pair’s quote currency. Tap a pair to load the calculator pre-set to that pair.
Pairs whose quote currency is USD. Pip value in a USD account is straight $10 per pip on a standard lot — pick your lot tier on the calculator and the per-pip value updates instantly.
JPY pairs print to three decimal places; a pip is 0.01, so a standard lot is ¥1,000 per pip in a JPY account. Cross-account JPY pairs (e.g. EUR/JPY with a USD account) need a EUR/USD or USD/JPY rate applied on top.
Pairs whose quote currency is neither USD nor your account currency. Type the pair into the calculator and provide the conversion rate from the quote currency to your account currency.
FAQs
Pip value calculator — frequently asked questions
Plain answers to the questions retail traders ask when sizing a position in pips. If you need a number to act on, run the calculator above.
A pip is the smallest standard price move in a currency pair — the fourth decimal place for most pairs (0.0001) and the second decimal place for JPY pairs (0.01). Pip value is how much that one pip move is worth in your account currency for the position size you choose.
Pip value = pip size × lot size × conversion rate. For pairs quoted directly in your account currency (EUR/USD with a USD account) the conversion rate is 1, so one standard lot yields $10 per pip. For cross pairs (EUR/GBP with a USD account) you need the GBP→USD rate to express pip value in USD.
JPY pairs (USD/JPY, EUR/JPY, GBP/JPY, AUD/JPY, CAD/JPY, CHF/JPY, NZD/JPY) print to three decimals, so one pip is 0.01. One standard lot of a JPY pair directly priced in JPY yields ¥1,000 per pip; cross-account pairs need a conversion rate applied to the pip value.
On a standard lot (100,000 units) of a pair quoted in your account currency, one pip is $10 — or ¥1,000 for JPY-direct pairs. A mini lot (10,000 units) is one tenth of that ($1 per pip); a micro lot (1,000) is one hundredth ($0.10 per pip).
No. This is a numerical aid for educational and planning purposes only. The calculator applies broker pip conventions to the pair and lot size you pick; live pip values from your broker may differ because of spreads, contract specifications, and live pricing. Nothing on this page is a recommendation to trade any instrument.
Multiply the dollar risk you can stomach by the stop distance in pips, then divide that by the pip value per lot for the pair you are trading. The result is the number of standard lots — round down to stay inside your risk band, and use mini/micro lots when the result is below 0.01 of a lot.