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Pip Value Calculator

See exactly what one pip is worth on any instrument, at any lot size, in your account currency. Pip values change with the instrument, the contract size, and the exchange rate between the quote currency and your account currency — this calculator handles all three so you can plan trades around real cash figures rather than abstract pip counts.

How to use it

  1. Account currency. Select the currency your account is denominated in. The pip value is returned in this currency.
  2. Instrument. Search and select the pair, index or CFD you’re trading. The calculator looks up the correct pip definition and quote currency.
  3. Lot size. Enter the size of the position you’re sizing for. One standard lot, 0.1 (mini), 0.01 (micro), or any custom size your broker allows.
  4. Number of pips (optional). Leave blank to see the value of a single pip. Fill it in to see the cash value of a specific pip distance — useful for projecting the result of a known stop or target.
  5. Hit Calculate pip value. The calculator returns the per-pip value, the total value for the specified pip distance (if entered), and the FX rate used in the conversion.

A worked example

Suppose you have a GBP account and you’re considering a 0.1-lot USD/JPY trade with a 30-pip stop.

  • Account currency: GBP
  • Instrument: USD/JPY
  • Lot size: 0.1
  • Number of pips: 30

USD/JPY uses a 0.01 pip definition with a 100,000-unit standard lot, so one pip on 0.1 lots is worth 100 JPY. The calculator converts that into GBP using the current GBP/JPY rate and multiplies by 30 to give you the cash value of the stop distance — the figure you’d actually lose if the stop is hit.

When to use it

  • Before sizing a trade. If you want to think in terms of “what does each pip cost me?” before deciding on a stop, this is the calculator. It’s also the building block behind the lot size and position size calculators.
  • Comparing instruments. A 50-pip move on EUR/USD is not the same cash result as a 50-pip move on GBP/JPY or AUD/CAD. Use this to compare apples to apples when scanning multiple setups.
  • Break-even planning. Add up your spread and commission costs, convert into pips with this calculator, and you’ll know exactly how far the trade has to move before it covers its own costs.
  • Sanity-checking broker pricing. If a broker quotes a pip value that looks off, plug the same trade into the calculator and check. Mismatches often come down to lot size definition or non-standard contract sizes.
  • Trading journal maths. When logging trades, knowing the per-pip value lets you record results in pips and convert to cash later, without having to re-derive everything from the trade size.

The formula

Show the maths

The calculator uses this relationship:

Pip value (quote currency) = Pip size × Contract size × Lot size

Then converts into your account currency:

Pip value (account currency) = Pip value (quote currency) ÷ Quote-to-account FX rate

And, if you entered a pip distance:

Total value = Pip value (account currency) × Number of pips

Where:

  • Pip size is 0.01 for JPY-quoted pairs and 0.0001 for most other forex pairs.
  • Contract size is typically 100,000 units per standard lot for forex; indices and CFDs vary by instrument.
  • FX rate comes from the live rate table and converts the quote currency into your account currency.

Common mistakes

  • Confusing pips and points. Some platforms quote in fractional pips (“pipettes”) — an extra decimal place after the pip. Make sure the pip count you enter matches the standard definition the calculator uses.
  • Using the wrong lot size. 1.0 is a standard lot, 0.1 is a mini, 0.01 is a micro. A typo here changes the pip value by an order of magnitude.
  • Ignoring account-currency conversion. “$10 per pip” only holds for a USD account on certain pairs. For everyone else, the live FX rate matters. Always read the value in your own currency.
  • Forgetting that pip value can drift on cross pairs. On pairs where neither currency is your account currency, the FX rate moves throughout the day. Re-check before placing a large trade.

These calculators are for educational purposes only. Trading leveraged products carries a high level of risk and may not be suitable for all investors.