Pip value calculator
A pip is the usual smallest step in a currency price. Its value depends on the pip size of the pair, how many units you trade and the currency of your account. Enter those, plus the exchange rate if your account currency differs from the pair's quote currency.
Runs in your browser: nothing you enter is sent anywhere.
How to use it
- Choose the pip size: 0.0001 for most pairs, 0.01 for pairs with the yen as the quote currency.
- Enter the lots and the units in a lot (100,000 for a standard lot at many brokers).
- If the quote currency is not your account currency, enter the exchange rate; otherwise leave it at 1.
How it works
- One unit of the pair moves by the pip size per pip, so the value per pip in the quote currency is pip size × units.
- Value in your account currency = that value × the exchange rate you entered.
- Pip move value = value per pip × number of pips.
Worked example
One standard lot (100,000 units) of a 0.0001 pair with a USD account and a USD quote currency: 10 per pip. For a yen pair, pip size 0.01 × 100,000 = 1,000 yen per pip; if one yen is worth 0.0067 dollars that is 6.70 dollars per pip, and 0.5 lot over a 10-pip move is 33.50.
Tips
- Check the contract size your broker uses; micro and mini lots are smaller.
- Use a current rate; an old one skews the result.
- Results are estimates, not financial advice.
Frequently asked questions
What is a pip?
The conventional smallest price step. For most pairs it is the fourth decimal place, 0.0001. For pairs quoted in yen it is the second decimal place, 0.01. Some brokers quote a tenth of a pip (a pipette); choose the fractional option to see that size.
How is the pip value calculated?
Value in the quote currency = pip size × units. One standard lot of 100,000 units at 0.0001 is 10 units of the quote currency per pip. Multiply by the exchange rate to get your account currency.
What exchange rate do I enter?
How many units of your account currency one unit of the pair's quote currency buys. For EUR/USD with a USD account the quote currency is USD, so enter 1. For USD/JPY with a USD account, enter the value of one yen in dollars, which is 1 divided by the USD/JPY price. Rates are not fetched, so use your broker's current quote.
Why is my broker's pip value slightly different?
Brokers use their own contract size and conversion rates, and the rate moves during the day. Treat this as an estimate.
Is this financial advice?
No. Leveraged trading can lose more than a deposit. This tool only multiplies the numbers you enter.