Pip Value Calculator
What one pip is worth on a position, in the currency your account is held in.
- Per standard lot
- 10.00 USD
- Per mini lot
- 1.00 USD
- Per micro lot
- 0.10 USD
- On your size
- 10.00 USD
How it works
A pip is a distance; pip value is what that distance is worth in money on your position. For a pair quoted in your account currency the calculation is position size times pip size: 100,000 units times 0.0001 is 10 dollars per pip on a standard lot of EUR/USD in a dollar account. For any other pair the value in the quote currency has to be converted, which is where most hand calculations go wrong.
The calculator shows the value per standard, mini and micro lot so that you can size in whichever unit your broker uses, and lets you overwrite the reference exchange rate with the current one.
The formula
Pip value = Units x Pip size, converted from the quote currency to the account currency
Worked example
USD/JPY at 150.00 in a dollar account: one pip on a standard lot is 1,000 yen, which is 1,000 divided by 150, about 6.67 dollars. On a micro lot it is about 7 cents.
EUR/GBP in a dollar account with GBP/USD at 1.27: one pip on a standard lot is 10 pounds, which is 12.70 dollars.
Frequently asked questions
Why is a pip 0.01 on yen pairs?
Yen pairs are quoted to two decimal places instead of four because the yen is worth so much less per unit; the pip is the second decimal.
Does pip value change during a trade?
Slightly, on pairs where a conversion is involved, because the conversion rate moves. For sizing purposes the difference is negligible.
Results are arithmetic on the figures you enter and reference exchange rates; check contract sizes and pip values against your broker's specification. General education, not advice.