What is the Pip Calculator?
A pip calculator converts the smallest standard price movement in forex — a pip — into a real money value for your specific position. Because a pip is worth a different amount depending on the pair, lot size, and your account currency, knowing its value is fundamental to sizing forex trades and stops correctly.
Once you know how much one pip is worth, you can instantly translate a stop-loss measured in pips into a dollar (or euro, yen, etc.) risk — and size your position accordingly.
How to use it
- 01Select the currency pair you are trading. JPY pairs use a pip size of 0.01; most others use 0.0001.
- 02Choose your lot type (standard, mini, or micro) and the number of lots.
- 03Enter your account currency and, if it differs from the quote currency, the conversion rate.
- 04Read the value per pip, plus handy multiples like the value of 10 and 100 pips.
The formula
Pip Size is 0.0001 for most pairs and 0.01 for JPY pairs; one standard lot is 100,000 units.
Worked example
Trading 1 standard lot (100,000 units) of EUR/USD with a USD account.
Pip Value = 0.0001 × 100,000 × 1 = $10 per pip.
A 20-pip stop-loss therefore risks $200 — letting you size the trade to your account's risk budget.
Frequently asked questions
What is a pip in forex?+
A pip (percentage in point) is the standard smallest price increment for a currency pair — 0.0001 for most pairs and 0.01 for pairs quoted in Japanese yen. It is the unit traders use to measure price movement and stop distances.
How much is one pip worth?+
It depends on position size and pair. For one standard lot (100,000 units) of a pair quoted in your account currency, one pip is about 10 units of that currency — for a USD account that's $10. Mini lots are ~$1 and micro lots ~$0.10.
Why is pip value different for JPY pairs?+
Yen pairs are quoted to two decimal places, so their pip size is 0.01 instead of 0.0001. The larger pip size is offset by the exchange rate, but you must use 0.01 when calculating pip value for any pair containing JPY.
How do I convert pip value to my account currency?+
Multiply the pip value in the quote currency by the exchange rate from the quote currency to your account currency. If the quote currency already matches your account, the rate is simply 1.
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For educational purposes only. Not financial advice.