Pip Calculator
Enter a pair, a lot size and your account currency to see what one pip — and your whole position — is worth per pip.
How is this calculated?
Pip value = pip size × contract size × lots
- One standard lot is 100,000 units of the base currency, a mini lot is 10,000 and a micro lot is 1,000.
- A pip is 0.0001 for most pairs and 0.01 for pairs quoted against the Japanese yen.
- The pip value is first calculated in the quote currency, then converted to your account currency.
Frequently asked questions
How much is 1 pip on EUR/USD?
For a standard lot of EUR/USD, one pip (0.0001) is worth $10 in USD-denominated accounts. A mini lot is worth $1 per pip and a micro lot $0.10.
Why is the pip size different for JPY pairs?
Pairs quoted against the Japanese yen use two decimal places instead of four, so one pip is 0.01 rather than 0.0001. USD/JPY at 147.50 is read to two decimals.
Does the account currency change the pip value?
The pip value is fixed in the quote currency. It changes size only when converted into your account currency, which is why the calculator asks for both.
Related calculators
- Lot Size CalculatorCalculate the right forex lot size from your account balance, risk percentage and stop loss. Floors to whole micro lots so you never risk more than planned.
- Margin CalculatorSee exactly how much margin a forex position requires at any leverage, in your account currency. Includes position value and worked examples.
Related guides
- What Is a Pip in Forex?A pip is the standard unit for measuring price moves in forex. Here is what it means, how it is counted on each currency pair, and why pip value changes with your position size.
- How to Read a Forex Quote: Currency Pairs, Bid and AskA forex quote tells you what one currency costs in another, and every quote has two prices. Here is how base and quote currencies, bid, ask and spread work, and what actually happens when you buy or sell a pair.
- How to Calculate Lot Size for Gold (XAU/USD)Gold is quoted per ounce and one lot is 100 ounces, so a small price move is a large amount of money. Here is the gold lot size formula, worked examples on small and larger accounts, and the pip conventions that trip traders up.
- Forex Trading Costs: Spread, Commission and SwapEvery forex trade pays some combination of spread, commission and swap. Here is how each one is calculated, how to compare a standard account with a raw-spread account, and why costs matter more on tight stops.
- How to Use the Economic Calendar for Forex TradingInterest-rate decisions, jobs reports and inflation data move currencies more in a minute than in the rest of the day. Here is how to read the economic calendar, what happens to spreads around a release, and how to protect open trades.
Results are estimates, not financial advice. Actual broker conditions may differ.