How this calculator works — Pip Value Calculator
A pip is the standard smallest step a currency pair moves: 0.0001 for most pairs (the fourth decimal — so EURUSD going 1.0850 → 1.0851 is one pip) and 0.01 for JPY pairs (the second decimal). Pip value converts that step into money in your account:
EURUSD: (0.0001 ÷ 1.0000) × 100,000 × 1 = $10.00 per standard lot
When the USD is the quote currency (EURUSD, GBPUSD…), one pip is conveniently always $10 per standard lot — no rate math needed. When USD is the base (USDJPY, USDCAD…), the pip value fluctuates with the rate, so we use a close approximation and mark it clearly.
Worked example
You trade 0.35 lots of USDJPY with a 20-pip stop. Pip value ≈ $6.33 × 0.35 = $2.22/pip. If your stop is hit: 20 × $2.22 = $44.30 loss. That's the number to compare against your 1% risk budget (Position Size Calculator does this reversal for you).
Pip value cheat sheet (USD account)
| Symbol | 1 pip = | Standard lot (1.00) | Mini (0.10) | Micro (0.01) |
|---|---|---|---|---|
| EURUSD · GBPUSD · AUDUSD · NZDUSD | 0.0001 | $10.00 | $1.00 | $0.10 |
| USDJPY | 0.01 | ≈ $6.33 | ≈ $0.63 | ≈ $0.06 |
| USDCAD | 0.0001 | ≈ $7.30 | ≈ $0.73 | ≈ $0.07 |
| XAUUSD (gold) | $0.10 | $10.00 | $1.00 | $0.10 |
CFDs and Forex are complex instruments with a high risk of losing money rapidly due to leverage. Ensure you understand how these products work before trading. See our risk disclaimer New to sizing leverage? Read: the best leverage for beginners.
Frequently asked questions — Pip Value Calculator
How much is 1 pip worth?
On USD-quoted majors: $10 per standard lot, $1 per mini lot, $0.10 per micro lot. On USDJPY it scales with the exchange rate: at ¥158 per dollar, one pip on a standard lot is ¥1,000 — about $6.33. This calculator gives exact figures for your lot size.
What's the difference between a pip and a pipette?
A pipette is one-tenth of a pip — the fifth decimal on most pairs (EURUSD 1.08503). Brokers show pipettes for pricing precision; risk math should use full pips.
How many pips make a good trade?
There's no universal number — a scalper may target 8–15 pips, a swing trader 80–200. What matters is the ratio: aim for at least 1.5–2 pips of reward per pip of risk (see the Risk/Reward Calculator).
Why is my broker's pip value slightly different?
Conversion rate timing, account currency, and contract-spec differences (especially on gold and exotic pairs) all cause small deviations. Treat calculator values as planning figures and your platform's figure as binding.