Pip value calculator
How pip value is calculated
A pip is the standard unit of price movement: 0.0001 for most currency pairs and 0.01 for pairs quoted in Japanese yen. Its value in money depends on your position size and on which currency the pair is quoted in.
Pip value (in USD) = that amount converted into US dollars
There are three cases:
- US dollar is the quote currency (EUR/USD, GBP/USD, AUD/USD): one standard lot is always $10 per pip.
- US dollar is the base currency (USD/JPY, USD/CHF, USD/CAD): divide by the current price. On USD/JPY at 150, one lot is 100,000 × 0.01 ÷ 150 = about $6.67 per pip.
- Cross pairs (EUR/GBP, GBP/JPY): convert the quote currency to dollars using a second rate. That is why the calculator asks for an extra rate on crosses.
For gold (XAU/USD), one standard lot is usually 100 ounces, so a $0.01 move is worth $1 per lot. Contract sizes and the definition of a "pip" on gold vary between providers, so check your provider's contract specifications.
Why it matters
Pip value turns a chart into money. If you know a pip is worth $10 and your stop-loss is 30 pips away, you know the trade risks $300 before you take it. To work backwards from the amount you want to risk to the right number of lots, use the position size calculator. For the full explanation, read pips and lot sizes explained.
This calculator assumes a US dollar account and uses the prices you enter; it does not fetch live rates. Results are for education and do not include spreads or fees.
Frequently asked questions
How much is 1 pip worth on EUR/USD?
On one standard lot (100,000 euros), one pip is worth $10. On a mini lot it is $1 and on a micro lot $0.10.
Why is a pip on USD/JPY worth less than $10?
Because the pip is measured in yen. 1,000 yen (100,000 × 0.01) is converted into dollars at the current rate, which gives less than $10 when USD/JPY is above 100.
Does leverage change pip value?
No. Pip value depends only on position size and exchange rates. Leverage changes how much margin supports the position.