Tool
Pip calculator
A pip is the standard smallest price step: 0.0001 on most forex pairs and 0.01 on yen pairs. Pip value is that step times the units you trade, converted into your account currency. On one standard lot of EUR/USD in a US dollar account, a pip is worth $10; on a micro lot, $0.10.
Pip value
$2.00per pip
On 0.2 lots (20,000 units) of EUR/USD.
- Standard (1.00)
- $10.00
- Mini (0.10)
- $1.00
- Micro (0.01)
- $0.10
- 1 pip
- 0.0001 price move
One standard lot earns or loses 10 USD per pip.
Exchange rates are examples until you type your own; no live prices are fetched. Contract sizes are the common standard ones, so check your broker's specification. Your inputs stay in your browser.
The formula
Pip value = Pip size × Units, in the quote currency, then converted to your account currency
The profit or loss on a pair is paid in its second currency, the quote currency. So the first step always gives an amount in that currency:
- Most pairs (EUR/USD, GBP/USD, USD/CAD, EUR/GBP…): 0.0001 × 100,000 = 10 units of the quote currency per standard lot.
- Yen pairs (USD/JPY, GBP/JPY…): 0.01 × 100,000 = ¥1,000 per standard lot.
- XAU/USD (gold): $0.01 × 100 oz = $1 per standard lot.
If the quote currency is your account currency, you're done. Otherwise convert it with the rate between the two. Divide when your account currency comes first in the conventional pair (yen to dollars with USD/JPY), multiply when it comes second (pounds to dollars with GBP/USD). A mini lot is a tenth of the standard figure and a micro lot a hundredth.
Worked examples
EUR/USD in a US dollar account
0.0001 × 100,000 = $10 per pip on a standard lot, $1 on a mini lot and $0.10 on a micro lot. No conversion is needed, because the dollar is both the quote and the account currency.
USD/JPY at 150.00 in a US dollar account
0.01 × 100,000 = ¥1,000 per pip. Divide by the USD/JPY price: 1,000 ÷ 150 = $6.67 per pip on a standard lot, so about $0.67 on a mini lot. If USD/JPY rises to 160.00, the same pip is worth $6.25.
EUR/GBP in a US dollar account, GBP/USD at 1.3000
One pip on a standard lot is £10. The pound is the base of GBP/USD, so multiply: 10 × 1.30 = $13.00 per pip.
EUR/USD in a euro account, EUR/USD at 1.1000
The pip is still $10. The euro is the base of EUR/USD, so divide: 10 ÷ 1.10 = €9.09 per pip.
Gold (XAU/USD) in a US dollar account
$0.01 × 100 oz = $1 per pip on a standard lot. A $5.00 move is 500 of these pips: $500 on one lot, or $5 on a 0.01 lot (1 ounce).
Why pip value matters
A stop of 30 pips sounds the same on every pair, but it isn't the same money. On a standard lot it costs $300 on EUR/USD, about $200 on USD/JPY at 150.00 and $390 on EUR/GBP at GBP/USD 1.3000. Knowing the pip value turns a stop distance into an amount you can compare with what you're willing to lose.
That is the core of position sizing: decide the money at risk first, then divide it by the stop in pips times the pip value. The lot size calculator does that step for you.
Common mistakes
- Assuming every pip is $10. It only holds for XXX/USD pairs on a standard lot in a US dollar account.
- Reading pipettes as pips. A five-decimal quote moving 10 points has moved one pip.
- Using last month's rate for yen or cross pairs. The pip value changes as the conversion rate moves, so use a current quote.
- Mixing gold conventions. Confirm whether your platform calls $0.01 or $0.10 a pip before you set a stop.
Pips in StraviFX
When StraviFX plans a trade, its execution ladder shows the entry, stop and two targets with the distance in pips and the reward-to-risk, then sizes the position from your equity and risk percentage. See what the app does or learn the basics of trading first.
FAQ
How much is one pip worth?
It depends on the pair, the lot size and your account currency. In a US dollar account, one pip on a standard lot of any XXX/USD pair such as EUR/USD is $10, a mini lot is $1 and a micro lot is $0.10. For other pairs the value moves with the exchange rate, which is why the calculator asks for one.
Why is a JPY pip 0.01 and not 0.0001?
One yen is worth far less than one dollar or euro, so yen pairs are quoted with two decimal places instead of four. A pip is the second decimal: USD/JPY moving from 150.00 to 150.01 is one pip, worth ¥1,000 on a standard lot.
What is a pipette?
Most brokers quote one extra digit, a tenth of a pip, called a pipette or point. EUR/USD at 1.10005 shows five decimals; the last digit is pipettes. Ten pipettes make one pip, so check whether your platform's stop distance is in pips or points.
How much is a pip on gold?
This calculator counts a $0.01 move in XAU/USD as one pip, worth $1 on a 100-ounce standard lot. Many brokers and platforms call $0.10 a pip instead, which makes one pip worth $10 per lot. Both describe the same money: a $1.00 move in gold is $100 on one lot either way.
Does my account currency change the pip value?
Yes. The pip is paid in the pair's quote currency and then converted. One pip on a standard lot of EUR/USD is always $10, but in a euro account at EUR/USD 1.1000 that is €9.09.
Get StraviFX
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