Pip Value Calculator
Find out what one pip is worth in US dollars for any position size, on USD-quoted, USD-base, JPY and cross pairs.
How to use the pip value calculator
Enter your position size in lots and choose how the pair is quoted. For pairs where the US dollar is the second currency (EUR/USD, GBP/USD, AUD/USD) no price is needed. For USD-base pairs such as USD/JPY or USD/CAD, enter the current price. For cross pairs such as EUR/GBP, enter the exchange rate of the quote currency to US dollars.
What is a pip?
A pip is the standard unit of price movement in forex. For most pairs it is the fourth decimal place (0.0001). For pairs quoted in Japanese yen it is the second decimal place (0.01). Read our full guide: what is a pip.
Pip value formula
Pip value = units × pip size × (quote currency to USD rate)
- EUR/USD, 1 standard lot: 100,000 × 0.0001 × 1 = $10 per pip.
- USD/JPY at 150.00, 1 standard lot: 100,000 × 0.01 ÷ 150 = $6.67 per pip.
- 0.10 lots (a mini lot) of EUR/USD: $1 per pip.
Why pip value matters
You need pip value to size positions correctly. Plug the figure into the position size calculator so your stop-loss risks exactly the amount you planned. Lot sizes are explained in what is a lot in forex.
Frequently asked questions
How much is a pip worth?
For a standard lot on a USD-quoted pair like EUR/USD, one pip is worth $10. A mini lot is $1 and a micro lot is $0.10.
Why is pip value different on USD/JPY?
Because the pip is measured in yen. Its dollar value is the yen amount divided by the USD/JPY price, so it changes as the price moves.
Is a pip the same as a point?
Not always. Many platforms quote a fifth decimal place, often called a pipette or point, which is one tenth of a pip.
Does pip value change with leverage?
No. Pip value depends on position size and the exchange rate, not on leverage.