Pip value calculator
How much one pip is worth for your position, in your account currency. Covers 28 currency pairs, gold and silver.
How it's calculated
- Pip value in the quote currency = pip size × contract size × lots. EUR/USD, 1 lot: 0.0001 × 100,000 = 10 USD.
- In your account currency: if the quote currency is your account currency, nothing changes ($10.00). Otherwise the amount is converted: USD/JPY at 150 with a USD account — 1,000 JPY ÷ 150 = $6.67; EUR/GBP with GBP/USD at 1.27 — 10 GBP × 1.27 = $12.70.
- Gold (XAU/USD, 100 oz contract, pip 0.01): 0.01 × 100 × 1 = $1.00 per pip.
- A point is one tenth of a pip on currency pairs (5- and 3-digit quotes), so its value is a tenth of the pip value.
Questions
Why is the pip value for EUR/USD exactly $10?
A standard lot of EUR/USD is 100,000 euros and the price is quoted in dollars. A one-pip move of 0.0001 changes the position's value by 100,000 × 0.0001 = 10 dollars. For a USD account no conversion is needed.
Why does the pip value of USD/JPY change with the price?
The profit is earned in yen (1,000 JPY per pip for one lot) and has to be converted into dollars at the current USD/JPY rate. A higher rate means fewer dollars per pip.
What is the difference between a pip and a point?
On currency pairs a pip is the fourth decimal (the second for JPY pairs) and a point is one tenth of a pip. Many platforms show prices, spreads and stops in points.
Is the contract size the same at every broker?
For currency pairs a standard lot is almost always 100,000 units. Metals vary: gold is often 100 oz and silver 5,000 oz, but check your platform's specification — you can edit it in the calculator.
Where do the conversion rates come from?
They are prefilled with European Central Bank reference rates, with the date shown. Replace them with your platform's prices for an exact match.