Calculator
Forex pip calculator
Work out what one pip is worth on your trade, in US dollars, for any lot size. Pick a currency pair or gold, enter your position size and see the pip value and what a move of any number of pips would make or lose.
- Pip value for your position
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- Value of your pip move
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- Per 1.00 lot (standard)
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- Per 0.10 lot (mini)
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- Per 0.01 lot (micro)
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- Units traded
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Results are in US dollars for a USD account. Where the pip value depends on the exchange rate, the price field is pre-filled with an example: type in the current rate for an exact figure.
How pip value is calculated
A pip is the smallest standard price step on a currency pair: 0.0001 on most pairs, and 0.01 on pairs quoted in Japanese yen. Its value depends on how many units you trade and on the quote currency, the second currency in the pair.
- Pairs quoted in US dollars (EUR/USD, GBP/USD, AUD/USD): pip value = units × 0.0001. One standard lot of 100,000 units is $10 a pip.
- Pairs with USD first (USD/JPY, USD/CAD, USD/CHF): pip value = units × pip size ÷ price.
- Crosses (EUR/GBP, EUR/JPY, GBP/JPY): work out the pip value in the quote currency, then convert it to dollars at that currency’s USD rate.
| Pair | 1 pip | Pip value, 1 standard lot |
|---|---|---|
| EUR/USD, GBP/USD, AUD/USD | 0.0001 | $10.00 |
| USD/JPY at 150.00 | 0.01 | $6.67 |
| USD/CAD at 1.3600 | 0.0001 | $7.35 |
| EUR/GBP with GBP/USD at 1.2700 | 0.0001 | $12.70 |
| XAU/USD (100 oz) | $0.01 | $1.00 |
Spreads are quoted in pips too, so the pip value tells you what a spread costs. A 1.2 pip spread on one standard lot of EUR/USD is $12. To compare those costs across brokers, use the forex trading cost calculator, or size your next trade with the lot size calculator. For a plain-English explanation, read what is a pip.
Frequently asked questions
How much is 1 pip worth?
On EUR/USD and other pairs quoted in US dollars, one pip is worth $10 per standard lot (100,000 units), $1 per mini lot and $0.10 per micro lot. On other pairs it depends on the exchange rate: on USD/JPY at 150, one pip is worth about $6.67 per standard lot.
How do I calculate pip value?
Multiply the pip size (0.0001, or 0.01 for yen pairs) by the number of units you trade. That gives the pip value in the quote currency. If the quote currency isn’t US dollars, convert it: divide by the price for USD/XXX pairs, or use the quote currency’s USD rate for crosses.
What is a pip on gold (XAU/USD)?
Most brokers treat $0.01 as one pip on gold, and one standard lot is 100 ounces, so a pip is worth $1 per lot and a $1 move is worth $100. Some brokers call $0.10 a pip, which makes a pip worth $10 per lot. Check your broker’s contract specification.
What is the difference between a pip and a pipette?
A pipette is a tenth of a pip: the fifth decimal place on most pairs, or the third on yen pairs. Brokers that quote five decimals show prices to the pipette.
Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.