What a pip is worth
A pip is the standard small step in a forex price. For most pairs it is 0.0001, and for pairs quoted in Japanese yen it is 0.01. The money value of one pip depends on three things: the size of your position, the pip size of the pair, and the currency your account is held in.
The calculator handles the three cases you meet in practice:
- Quote currency is your account currency (EUR/USD, GBP/USD with a USD account). One pip on a standard lot is simply 100,000 × 0.0001 = $10.
- Base currency is your account currency (USD/JPY, USD/CAD with a USD account). The pip is earned in the quote currency, so it is divided by the current price to convert it back.
- Cross pairs (EUR/GBP with a USD account). Enter how many dollars one unit of the quote currency is worth, and the pip value is converted for you.
Lot sizes
A standard lot is 100,000 units of the base currency, a mini lot is 10,000 and a micro lot is 1,000. The table shows all three side by side along with your own size, and the value of 10 and 50 pip moves.
Using it with your stop-loss
Multiply the pip value by the number of pips to your stop-loss to see how much you risk. To work the other way, from the amount you want to risk to the lot size, use the position size calculator.
The formula
pip value (quote = account) = units × pip size
pip value (base = account) = units × pip size ÷ price
pip value (cross) = units × pip size × quote→account ratePip size is 0.0001 for most pairs and 0.01 for JPY pairs. Profit or loss = pip value × pips moved.
Worked examples
EUR/USD with a USD account
One standard lot (100,000 units) and a pip size of 0.0001. The quote currency is also your account currency, so the pip value is 100,000 × 0.0001 = $10. A 20 pip move is worth $200.
USD/JPY with a USD account
One standard lot at a price of 150. The pip size is 0.01, so one pip is 100,000 × 0.01 = 1,000 yen. Converted to dollars at 150 that is $6.67.
A mini lot of EUR/GBP, USD account
0.1 lots is 10,000 units. One pip is 10,000 × 0.0001 = 1 pound. With a pound worth $1.27 that is $1.27 per pip.
Frequently asked questions
What is a pip in forex?
A pip is the standard smallest quoted price move, 0.0001 for most pairs and 0.01 for yen pairs. Some brokers quote a tenth of a pip, called a pipette.
How much is one pip worth on a standard lot?
For pairs where the quote currency is your account currency, such as EUR/USD with a USD account, one pip on a standard lot is $10. For other pairs it changes with the exchange rate.
Why does the pip value of USD/JPY change?
The pip is earned in yen, so converting it to dollars depends on the current USD/JPY price. The higher the price, the fewer dollars a pip is worth.
What is a micro lot?
A micro lot is 1,000 units, or 0.01 lots. On EUR/USD with a USD account one pip is worth $0.10.
How do I know how many pips my stop-loss is?
Subtract your stop price from your entry price and divide by the pip size. For example, a stop 0.0030 away on EUR/USD is 30 pips.
Can I use this for gold or indices?
The pip convention differs for gold, indices and crypto. For those, use the position size calculator in futures or stocks mode with the value of one point.
Know the pip value, then size the trade.
Once you know what a pip is worth, your stop distance sets the risk. These indicators help you place the stop.
Guides that explain it
Last updated October 2026. For education only. Not financial advice. Results depend on your inputs and cannot predict future performance.