Calculators / Pip value
Pip Value Calculator
Pick a pair, your account currency and a position size to see exactly what one pip is worth — per standard, mini and micro lot. The conversion is handled for you.
Pip value
What one pip is worth in your account currency, for any pair and position size.
A pip is 0.0001 on most pairs and 0.01 on JPY pairs. This is the number that turns a stop in pips into money.
How pip value is calculated
Pip value per standard lot = pip size × contract size (100,000 units for a standard forex lot), in the pair’s quote currency. On EUR/USD that’s 0.0001 × 100,000 = $10 per pip, because USD is the quote currency. On a pair like GBP/JPY, the pip is 0.01 and the result comes out in JPY — which then needs converting into your account currency at the current exchange rate, which is what the conversion-rate field does automatically.
Worked example: a 0.5-lot position on EUR/USD, where a standard lot is worth $10/pip, is worth $10 × 0.5 = $5 per pip. A 20-pip stop-loss on that position would cost $100 if hit.
Pips measure the move; pip value measures the money
A 30-pip stop sounds identical on any pair, but the dollar cost of hitting it depends entirely on pip value and position size — which is why “I always use a 30-pip stop” isn’t actually a fixed risk rule unless you’re also adjusting position size to match. Pip value is the conversion factor between “how far price moved” and “what that move cost or made you”, and it’s the missing piece most new traders skip when they eyeball lot sizes instead of calculating them.
Once you know what you’re risking in dollars, the next question is whether you actually stuck to that number across your last 50 trades — which is what a trading journal is for.
Pip value questions
What is a pip in forex?
A pip (percentage in point) is the standard unit of price movement in forex — normally the fourth decimal place (0.0001) for most pairs, or the second decimal (0.01) for pairs quoted in Japanese yen. If EUR/USD moves from 1.1000 to 1.1010, that's a 10-pip move.
How is pip value calculated?
Pip value = pip size × contract size, in the pair's quote currency, then converted to your account currency if different. For a standard lot (100,000 units) of a pair quoted in USD with a 0.0001 pip, that's 0.0001 × 100,000 = $10 per pip. Multiply by your position size in lots to get the pip value for that trade.
Why is pip value different for JPY pairs?
Yen pairs (USD/JPY, EUR/JPY, GBP/JPY) quote to 2 decimal places instead of 4, because JPY has a much smaller relative value per unit. A pip there is 0.01, not 0.0001 — the calculator handles this automatically when you pick a JPY pair.
Do I need pip value if my platform shows P&L directly?
Most platforms show your running profit or loss, so you don't need pip value to see the outcome of a trade you've already placed. It's used beforehand — to convert a stop-loss or target from pips into a dollar amount, so you can size the position correctly or understand what a given move is actually worth to your account.