Pip value calculator
This pip calculator turns price movement into money. Knowing the value of a pip is the first step in sizing any forex or gold trade, because it tells you what a stop-loss distance or a profit target will cost or pay.
The formula
Pip value in USD = that amount converted at the quote currency's rate to the dollar
A pip is 0.0001 on most pairs, 0.01 on yen pairs and $0.01 per ounce on gold in this tool. A standard lot is 100,000 units of the base currency, or 100 ounces of gold.
Three worked examples
- EUR/USD, 1 lot. 100,000 × 0.0001 = $10 per pip. When the dollar is the quote currency, no conversion is needed.
- USD/JPY at 150.00, 0.5 lots. 50,000 × 0.01 = ¥500 per pip. Converted to dollars: 500 ÷ 150 = about $3.33 per pip.
- EUR/GBP, 1 lot, with GBP/USD at 1.27. 100,000 × 0.0001 = £10 per pip, which is 10 × 1.27 = $12.70 per pip. For cross pairs like this, the calculator asks for the conversion rate.
Illustrative prices; enter current ones for a live answer.
How to read the result
Multiply the result by the number of pips between your entry and your stop to get the planned loss, or by the distance to your target for the planned gain. If the number looks large next to your balance, the position is too big; reduce the lots rather than widening the stop. The position size calculator does that reverse calculation directly, and the margin calculator shows the collateral the same trade would lock up.
Remember that the pip value of pairs quoted in a currency other than the dollar changes as exchange rates move, so recheck it on longer trades. For the background on pips and lots, see how forex trading works.