Pip Value Calculator

How pip value works

This free pip value calculator finds what one pip is worth in US dollars for any major currency pair. It is for forex traders who want to turn pips into dollars before they open a trade. It runs entirely in your browser, needs no sign-up, and stores nothing. Choose a pair and a lot size, and it returns the pip value plus the value of 10, 20 and 50 pip moves.

What is a pip in forex trading?

A pip is the smallest standard price move in a currency pair. For most pairs it is 0.0001, which is the fourth decimal place. For pairs with the Japanese yen it is 0.01, the second decimal place. Traders measure profit, loss and stop distances in pips because it gives a common unit across pairs.

Some brokers quote a fifth decimal place, called a pipette, which is one tenth of a pip. A move from 1.10000 to 1.10010 is one pip, or ten pipettes. This calculator uses standard pips, not pipettes, so divide pipette counts by ten before you use them here.

How is pip value calculated?

For pairs where the US dollar is the quote currency, pip value is the pip size multiplied by the lot units. One standard lot is 100,000 units, so one pip on EURUSD is worth $10. For pairs where the dollar is the base currency, divide that result by the current exchange rate.

Worked examples: EURUSD at 1 standard lot is 0.0001 times 100,000, which is $10.00 per pip. USDJPY at 1 standard lot is 0.01 times 100,000 divided by the reference rate of 150.00, which is $6.67 per pip. USDCAD uses a reference rate of 1.38 and USDCHF uses 0.88, so their pip values at 1 standard lot are $7.25 and $11.36.

The reference rates used here are approximate: EURUSD 1.00, GBPUSD 1.00, AUDUSD 1.00, USDJPY 150.00, USDCAD 1.38 and USDCHF 0.88. Live rates move all day, so pip values for USDJPY, USDCAD and USDCHF move with them. Dollar-quoted pairs stay at $10 per standard lot whatever the rate.

Why does pip value change between pairs?

Pip value changes because lot size, pip size and the exchange rate all play a part. A standard lot is worth $10 per pip on dollar-quoted pairs, but a yen pair divides by the exchange rate, so its value is lower. Smaller lots cut the value in proportion, so a mini lot is worth one tenth of a standard lot.

Account currency matters too. This calculator shows values in US dollars. If your account is in euros or pounds, your broker converts the dollar pip value at the live rate, so the figure in your own currency moves slightly even when the dollar figure does not.

How do traders use pip value?

Traders use pip value to turn a stop loss in pips into dollars before they open a trade. If one pip is worth $10 and the stop is 20 pips away, the trade risks $200 on one standard lot. That dollar figure is the input for position sizing, so pip value sits at the centre of every risk calculation.

It also helps compare trades fairly. A 30 pip win on EURUSD and a 30 pip win on USDJPY are not worth the same money at the same lot size, because the pip values differ. Knowing the dollar value of each pip stops traders from treating every pair as if it carried the same risk.

The US dollar dominates this market. The Bank for International Settlements reported in 2025 that the dollar was on one side of 89 percent of all foreign exchange trades in its Triennial Survey. That is why most pip value examples, including the ones in this calculator, are worked out in dollars first.

What is the difference between a pip and a point?

A pip is a standard forex unit, usually 0.0001 or 0.01 for yen pairs. A point is a looser word that can mean a whole number move, one cent on a stock, or one index unit, depending on the market. Always check what a broker or platform means by point before you compare it with pips.

On some platforms a point means one pip, and on others it means one whole unit of price. If a trading signal says a target is 50 points away, ask which definition it uses before you size the trade, because the dollar risk can differ by a factor of ten or more.