Forex Pip Value Calculator
Calculate the monetary value of one pip for any pair, lot size and account currency.
Please note: Forex trading carries a high risk of loss, amplified by leverage. Exchange rates must be entered manually — no live market data is used.
What the Forex Pip Value Calculator does
A pip is the smallest conventional price increment in a currency pair — 0.0001 for most pairs, 0.01 for those quoted in yen. Pip value tells you what each of those increments is worth on your position, which is the basis of every forex risk calculation.
Formula
Pip value (quote currency) = Pip size × Units tradedPip value (account currency) = Pip value (quote) × Conversion rate
Inputs explained
| Input | Unit | Required | Notes |
|---|---|---|---|
| Trade size (lots) | number | Yes | Accepts more than 0. |
| Lot type | one of 4 options | Yes | — |
| Pip size | one of 3 options | Yes | — |
| Exchange rate of the pair | number | Yes | Current price, e.g. 1.0850 for EUR/USD. Accepts more than 0. |
| Quote currency → account currency rate | number | Yes | Use 1 if the quote currency is already your account currency. Accepts more than 0. |
| Currency | one of 10 options | Optional | — |
How to use it
- Choose Lot type and Pip size.
- Enter Trade size (lots), Exchange rate of the pair and Quote currency → account currency rate.
- Select Calculate.
Worked example
One standard lot of EUR/USD with a USD account.
- Lots
- 1
- Lot type
- Standard
- Pip size
- 0.0001
- Rate
- 1.0850
- Conversion
- 1
0.0001 × 100,000 = $10 per pip.
Reading the result
- "Value of 10/100 pips" translates a stop or target distance directly into a dollar figure, so a position's risk or reward can be read straight from a chart distance without a separate calculation.
- Pip value scales linearly with lot size — the "pip value by lot size" table shows this directly, so halving position size exactly halves pip value.
Assumptions and limitations
- The conversion rate is a single static figure you enter, not a live rate — a stale rate on a cross pair understates or overstates the true account-currency pip value.
- Pip size is manually selected rather than inferred from the pair, so the calculator has no way to catch an accidental mismatch between the pair and the pip size chosen.
Common mistakes
- Using the standard 0.0001 pip size on a JPY pair, where a pip is 0.01 — pip value comes out a hundred times too small, the same error in the opposite direction from sizing a position with the wrong pip size.
- Leaving the conversion rate at its default of 1 when the account currency actually differs from the quote currency, which silently misstates every dollar figure on the page.
Frequently asked questions
Why is a standard lot always $10 a pip on USD-quoted pairs?
Because 0.0001 × 100,000 units = 10 units of the quote currency. When the quote currency is USD and your account is USD, no conversion is needed.
What is a pipette?
A fractional pip — one tenth of a pip, shown as a fifth decimal place. Select 0.00001 as the pip size to work in pipettes.