Introduction
A pip is the smallest price move in a forex currency pair. Most pairs move in steps of 0.0001, while yen pairs move in steps of 0.01. Knowing the cash value of each pip helps you manage risk and plan your trades.
This pip calculator shows you exactly how much money one pip is worth for any currency pair or metal. Just pick your account currency, enter your trade size in lots or units, and hit calculate. The tool pulls live exchange rates and does all the math for you in seconds.
You can also set a custom number of pips to find the total value of a price move. For example, if your stop loss is 50 pips away, the calculator tells you how much you stand to lose in your own currency. It covers major pairs like EUR/USD, minor pairs like EUR/GBP, exotic pairs like USD/TRY, and precious metals like gold and silver.
Each result includes a step-by-step breakdown of the formula so you can see how the pip value is found. A comparison chart and sortable table make it simple to compare pip values across dozens of instruments at once.
How to Use Our Pip Calculator
Enter your trade details below to find out how much one or more pips are worth in your account currency. The calculator shows pip values for all major, minor, exotic, and metal pairs in a full results table.
Account Currency: Pick the currency your trading account uses. All pip values will show in this currency. If you need to quickly convert between currencies, our currency calculator can help.
Trade Size (Lots): Type the number of lots you plan to trade. One standard lot equals 100,000 units. This field syncs with the Units field automatically.
Trade Size (Units): Type the exact number of units for your trade. This field syncs with the Lots field automatically.
Number of Pips: Enter how many pips you want to calculate the value for. Set it to 1 to see the value of a single pip, or use a higher number like 50 to price a larger move.
Lot Size Reference: Choose which lot size column to highlight in the results table — Standard (100K), Mini (10K), Micro (1K), or Custom based on your inputs.
Filter by Category: Select one or more categories to narrow the results. Choose from Major, Minor, Exotic, or Metals. Pick "All" to see every instrument.
Click the Calculate button to fetch live exchange rates and update all results. Click any row in the table to see a detailed breakdown and step-by-step solution for that pair.
What Is a Pip in Forex Trading?
A pip stands for "percentage in point." It is the smallest standard price move a currency pair can make. For most currency pairs, one pip equals 0.0001 (the fourth decimal place). For pairs that include the Japanese yen, one pip equals 0.01 (the second decimal place).
Pips help traders measure how much a price has gone up or down. If EUR/USD moves from 1.1050 to 1.1055, that is a move of 5 pips. Knowing how much each pip is worth in your account currency tells you how much money you gain or lose on a trade. To estimate your total profit or loss on a forex trade, try our forex profit calculator.
How Pip Value Is Calculated
The value of a pip depends on three things: the pip size, your trade size (measured in units or lots), and the exchange rate between the quote currency and your account currency. The basic formula is:
Pip Value = Pip Size × Trade Size (in units) × Number of Pips
If your account currency is different from the quote currency of the pair, you then convert the result using the current exchange rate.
Understanding Lot Sizes
In forex, trade sizes are grouped into lots:
- Standard lot — 100,000 units of the base currency
- Mini lot — 10,000 units
- Micro lot — 1,000 units
A bigger lot size means each pip is worth more money. For example, on EUR/USD with a USD account, one pip on a standard lot is worth about $10, while one pip on a micro lot is worth about $0.10. If you need help figuring out the right lot size based on your risk tolerance, use our position size calculator.
Why Pip Values Matter
Knowing your pip value helps you manage risk. Before you open a trade, you can figure out exactly how much you stand to win or lose for every pip the price moves. This makes it easier to set stop-loss orders and choose the right trade size for your account. Understanding pip values also ties into broader concepts like margin requirements and overall return on investment for your trading strategy.
Pips on Metals like Gold and Silver
Pip values also apply to precious metals such as gold (XAU) and silver (XAG). Gold uses a pip size of 0.01, and a standard gold contract is 100 troy ounces. Silver uses a pip size of 0.001 with a contract size of 5,000 troy ounces. The same formula applies — you just swap in the correct pip size and contract size. For a quick look at what your gold holdings are worth at current prices, check out our gold price calculator.