Pip Value Calculator
Use this pip calculator to find the monetary value of a pip for any major currency pair and lot size.
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Results
Pip Value
$10.00
10-Pip Move
$100.00
100-Pip Move
$1,000.00
Uses fixed, approximate exchange rates, not a live feed. Confirm non-USD conversions with your broker.
How Do You Calculate Pips Between Two Prices?
Pip distance = absolute value of (end price - start price) / pip size.
For EUR/USD, 1.08000 to 1.08500 is 50 pips. For USD/JPY, 150.00 to 150.50 is also 50 pips: JPY pairs use 0.01 per pip instead of 0.0001.
A fifth decimal on EUR/USD is a fractional pip: a move of 0.00001 is 0.1 pip, not 1 pip. Equal prices give zero pips. Distance is unsigned; price direction is shown separately and does not determine profit without a trade direction and position size.
For the underlying terminology, see OANDA's explanation of pips. Broker points and contract specifications can differ.
Who Is This For?
Forex traders who need to know the dollar value of a pip for any currency pair and lot size. Essential for accurate position sizing and risk management in forex.
Understanding Pip Values
A pip (percentage in point) is the smallest standard price movement in forex. For most currency pairs, one pip equals 0.0001. For JPY pairs, one pip is 0.01.
Knowing your pip value is essential for calculating exact risk in dollar terms. A standard lot (100,000 units) of EUR/USD has a pip value of approximately $10, while a mini lot (0.1) is $1 per pip.
Combine pip value awareness with the Position Size Calculator and GrandAlgo indicators for precise risk management on every trade. Understanding session liquidity across London, Asia, and New York also helps you anticipate pip ranges during different trading hours.
Pip Value Formula
In the pair's quote currency: Pip Value = Pip Size × Units Traded
For USD-quoted pairs like EUR/USD and GBP/USD, the math is straightforward: 1 pip = $10 per standard lot (100,000 units), $1 per mini lot (10,000 units), and $0.10 per micro lot (1,000 units). The quote currency is already USD, so no conversion is needed.
For USD/JPY, one pip equals 0.01 JPY per unit. To convert the resulting JPY pip value into a USD account: USD Pip Value = (0.01 × Units Traded) / USDJPY Rate
For cross rates like EUR/GBP where neither currency is your account currency, the pip value is first calculated in the quote currency (GBP) and then converted to your account currency (e.g., USD) using the current GBP/USD exchange rate.
Forex Pip Value Table by Lot Size
Values are per pip in the pair's quote currency, before conversion to your account currency. One standard lot is 100,000 units, a mini lot is 10,000, and a micro lot is 1,000.
| Pair | Currency | Standard | Mini | Micro |
|---|---|---|---|---|
| EUR/USD | USD | 10.00 | 1.00 | 0.10 |
| GBP/USD | USD | 10.00 | 1.00 | 0.10 |
| AUD/USD | USD | 10.00 | 1.00 | 0.10 |
| NZD/USD | USD | 10.00 | 1.00 | 0.10 |
| USD/JPY | JPY | 1,000 | 100 | 10 |
| USD/CHF | CHF | 10.00 | 1.00 | 0.10 |
| USD/CAD | CAD | 10.00 | 1.00 | 0.10 |
| EUR/GBP | GBP | 10.00 | 1.00 | 0.10 |
Worked Example
Pair: EUR/USD
Standard lot (100,000 units): 1 pip = 0.0001 × 100,000 = $10
Mini lot (10,000 units): $1 per pip
Micro lot (1,000 units): $0.10 per pip
Assumptions & Edge Cases
- Uses standard pip definitions (0.0001 for most pairs, 0.01 for JPY pairs).
- Pip values for non-USD quote currencies depend on the current exchange rate.
- Pip distance includes fractional pips; broker points are not always full pips.
- Monetary estimates use fixed approximate exchange rates, not live quotes. Confirm contract sizes and rates with your broker.
- Distance alone is not profit or loss; spread, commissions, and slippage are excluded.
Frequently Asked Questions
A pip (percentage in point) is the smallest standard price movement in a currency pair. For most pairs, one pip equals 0.0001 (the fourth decimal place). For JPY pairs, one pip equals 0.01 (the second decimal place). Pip values vary by pair, lot size, and account currency.
For USD-quoted pairs with a standard lot (100,000 units), 1 pip = $10. With a mini lot (10,000 units), 1 pip = $1. With a micro lot (1,000 units), 1 pip = $0.10. For non-USD pairs, the pip value depends on the current exchange rate and must be converted to your account currency.
Pip values differ because they depend on the exchange rate of the pair and the quote currency. A pip in EUR/USD (quote currency USD) is straightforward in a USD account. But a pip in EUR/GBP requires converting from GBP to your account currency at the current GBP exchange rate, which changes the dollar value of each pip.
Take the absolute difference between the end and start price, then divide by the pair's pip size. EUR/USD moving from 1.08000 to 1.08500 is 0.00500 / 0.0001 = 50 pips. USD/JPY moving from 150.00 to 150.50 is 0.50 / 0.01 = 50 pips. Reversing the prices changes direction, not distance.
Pip distance uses only the two prices you enter and the selected pair's pip size. Monetary pip values use fixed, approximate exchange rates for account-currency conversions, not a live feed. Fractional pips are supported in the distance result. Spread, commissions, slippage, and broker-specific contract sizes are not included.