Loading page
Loading page
Work out exactly what one pip is worth on your position.
The pip value is the foundation every other risk number is built on. Before you can decide how many lots to trade, or what a 40-pip stop actually costs you, you need to know what a single pip is worth on the instrument in front of you — in the currency your account is denominated in, not in the currency the pair happens to be quoted in.
Pick a pair, set your account currency and enter a position size. The result updates as you type, and the table underneath shows the same figure for standard, mini, micro and nano lots so you can see the scale at a glance.
1 pip = 0.0001 · contract 100,000 EUR
100,000 units of EUR
Pip value in USD
$10.00
On 1.000 lots of EUR/USD
Value of one pipette
$1.00
A pipette is a tenth of a pip — the extra decimal your broker quotes
Pip value per standard lot
$10.00
1.00 lot reference figure
Position size
100,000 EUR
1.000 lots
Pip size
0.0001
Prices quoted to 5 decimals
Conversion needed
None
USD is already your account currency
| Lot type | Lots | Units | Pip value (USD) |
|---|---|---|---|
| Standard lot | 1.000 | 100,000 | $10.00 |
| Mini lot | 0.100 | 10,000 | $1.00 |
| Micro lot | 0.010 | 1,000 | $0.10 |
| Nano lot | 0.001 | 100 | $0.01 |
Calculations use PipDig's static demo rate table (snapshot 2026-08-01). These are illustrative mid prices for education only — they are not live quotes, and your broker's spread, commission and swap will change the real result.
Every pip value calculation is the same two steps. First, multiply the instrument's pip size by its contract size and by your position size in lots. That gives you the value of one pip in the pair's quote currency — the currency on the right-hand side of the slash. Second, convert that amount into your account currency.
A standard FX lot is 100,000 units of the base currency. On a four-decimal pair the pip size is 0.0001, so one pip on one standard lot is always 10 units of the quote currency — 10 USD on EUR/USD, 10 CHF on EUR/CHF, 10 CAD on GBP/CAD. On a yen-quoted pair the pip size is 0.01 instead, which gives 1,000 JPY per standard lot. Metals and crypto use different contract sizes entirely, and the calculator reads them from the instrument you select rather than assuming an FX convention.
If the quote currency and your account currency are the same, you are done. If they are not, the quote-currency figure has to be multiplied by the exchange rate between them. Our table routes that conversion through the US dollar, which is how a broker prices a cross it does not quote directly: to convert CHF into AUD, it values one Swiss franc in dollars and then dollars in Australian dollars.
Most brokers now quote an extra decimal — 1.08503 rather than 1.08500. That last digit is a pipette, one tenth of a pip. It matters when you are comparing spreads (a 0.8 pip spread is quoted as 8 pipettes) but not when sizing a position, because stops and targets are still measured in whole pips. This calculator works in pips throughout.
Once you know your pip value, the position size calculator turns it into a lot size for a given stop loss, and the profit and loss calculator turns a pip move into a cash result.
Pip value in the quote currency
pip value (quote) = pip size x contract size x lotsPip size is 0.0001 for most pairs, 0.01 for yen-quoted pairs, and instrument-specific for metals and crypto. Contract size is 100,000 units of the base currency for one standard FX lot.
Pip value in your account currency
pip value (account) = pip value (quote) x (quote → account rate)When the quote currency already is your account currency the rate is 1 and the second step disappears — which is why EUR/USD on a USD account is a flat $10 per pip per standard lot.
Worked example — USD/JPY, 1 lot, USD account
0.01 x 100,000 x 1 = ¥1,000 → ¥1,000 x 0.0064516 = $6.45The yen result has to be converted back into dollars, which is why yen pairs are not a round $10 per pip.
A pip is the smallest conventional price increment for a currency pair. For pairs quoted to four or five decimal places it is 0.0001, so EUR/USD moving from 1.08500 to 1.08510 is one pip. For yen-quoted pairs, which are shown to two or three decimals, a pip is 0.01. The fifth (or third) decimal shown by most brokers is a fractional pip, or pipette, worth one tenth of a pip.
Because the pip value is first produced in the quote currency and then converted. One pip on a standard lot of EUR/USD is 0.0001 x 100,000 = 10 USD, and if your account is in dollars no conversion is needed. One pip on a standard lot of USD/JPY is 0.01 x 100,000 = 1,000 JPY, which converts to roughly $6.45 at our demo rate. The number moves with the exchange rate, so yen-pair pip values drift over time while EUR/USD stays fixed at $10 for a dollar account.
Metals use their own contract sizes. Our gold contract (XAU/USD) is 100 troy ounces quoted to two decimals, so a 0.01 move is worth $1 per lot. Silver (XAG/USD) is 5,000 ounces quoted to three decimals, so a 0.001 move is worth $5 per lot. Many traders informally call a $1 move in gold a pip; the calculator uses the broker convention above, so check your own platform's contract specification before sizing a metals trade.
Only if your account currency is different from the quote currency. On a dollar account trading EUR/USD the pip value is fixed at $10 per standard lot for the life of the trade. On a euro account trading the same pair, or on any account trading a yen cross, the conversion rate moves continuously, so the value of each pip drifts slightly. It is a second-order effect, but it is why your platform's floating P/L rarely matches a hand calculation to the cent.