Pip value calculator
A pip is the unit price moves are counted in. What it is worth in money depends on the pair, the trade size and your account currency. This calculator does the conversion.
Prices are prefilled from delayed market quotes and cross rates are derived from them; edit the price to use your broker’s. Conversions use delayed exchange rates. Results are estimates; your broker’s contract specification is what counts.
How it works
- Pip value in the quote currency = pip size × units (0.0001 for most pairs, 0.01 for JPY pairs).
- It is then converted into your account currency at the current exchange rate.
- One standard lot of EUR/USD: 0.0001 × 100,000 = 10 US dollars per pip.
Questions
Why is a pip on USD/JPY worth a different amount from EUR/USD?
Profit and loss is first earned in the quote currency. On USD/JPY that is yen, so the pip value in dollars or euros moves with the exchange rate.
What is a pipette?
A fractional pip: the fifth decimal on most pairs (third on JPY pairs). Ten pipettes make one pip.
Is a pip on gold always 0.01?
No. Brokers use different conventions (0.01 or 0.1) and contract sizes; 100 ounces per lot is common. Check your broker’s contract specification.
Learn more
Not investment advice. This is general information and education, written without knowledge of your circumstances. It is not a recommendation to buy or sell any instrument. Past performance is not a reliable indicator of future results. Trading leveraged products carries a high risk of losing money. Risk warning