Pip Calculator
Enter a currency pair, your account currency and lot size. The calculator returns the value of one pip movement in the currency your account is denominated in. Used by every trader who has to size a position.
Exchange rates from a snapshot taken on 2026-05-23. Real-time pip value will differ slightly with the live market rate. For position sizing, use the position size calculator — it folds the pip value into a risk-based lot size.
How pip value is calculated
A pip is the fourth decimal in most forex quotes (the second decimal on JPY pairs and gold). The value of one pip depends on three things: the pip size for that pair, the number of units you're trading (1.0 lot = 100,000 units of the base currency), and the conversion to your account currency. The formula is:
pip value = (pip size × position units) × quote→account FX rate
For EUR/USD at one standard lot, that's 0.0001 × 100,000 = $10 per pip on a USD account. For USD/JPY at one standard lot, it's 0.01 × 100,000 = ¥1,000 ≈ $6.40 per pip, depending on the live JPY/USD rate.
Worked examples
| Pair · Lot · Account | Pip value (snapshot) |
|---|---|
| EUR/USD · 1.0 · USD | $10.00 |
| EUR/USD · 0.1 · USD | $1.00 |
| EUR/USD · 1.0 · EUR | €9.22 |
| USD/JPY · 1.0 · USD | $6.40 |
| GBP/JPY · 1.0 · USD | $6.40 |
| XAU/USD · 1.0 · USD | $10.00 / 0.01 move |
Related tools
- Position Size Calculator — folds pip value into a risk-based lot size.
- Risk/Reward Calculator — R:R ratio + breakeven win rate.
- Spread Comparison Calculator — what each broker charges per round-turn.
- Trading Fee Calculator — annualised cost per broker, per profile.
Snapshot rates are illustrative — live market rates change second-by-second. For broker selection and live testing, see our best forex brokers list.