Pip Calculator
Find the exact pip value for any forex pair before you size your trade.
Includes Gold (XAU/USD) and Bitcoin (BTC/USD). Crypto pip values are approximate and vary significantly by exchange — always verify with your broker.
Pip values are approximate. Rates vary by broker and market conditions.
How to use the pip value calculator
This pip value calculator tells you exactly how much each pip is worth in your account currency before you place a forex trade. Select your currency pair, enter your lot size, and choose the lot type — the tool calculates pip value instantly. Knowing what is a pip in forex and its dollar value is essential for setting stop losses that reflect your actual risk in dollar terms, not just abstract price distances.
Pip value is not fixed — it changes depending on the currency pair and the size of your position. For pairs where USD is the quote currency, such as EUR/USD or GBP/USD, pip value is straightforward to calculate. For cross pairs or pairs where USD is the base currency, the exchange rate affects the result, which is why a dedicated pip calculator is more reliable than doing the maths manually.
JPY pairs use a different pip definition. Because the yen carries a lower per-unit value, one pip on USD/JPY or GBP/JPY equals 0.01, not 0.0001. This affects pip value calculations significantly and is a common source of sizing errors for traders switching between major and JPY pairs. Always confirm pip value before entering a trade on an unfamiliar pair.
Frequently asked questions
What is a pip in forex trading?
A pip (percentage in point) is the smallest standard price movement in a forex pair. For most pairs it is 0.0001, the fourth decimal place. For JPY pairs it is 0.01, the second decimal place, because of the yen's lower per-unit value relative to other currencies.
How much is a pip worth in dollars?
It depends on the currency pair, lot size, and lot type. For EUR/USD trading one standard lot (100,000 units), one pip is worth approximately $10. A mini lot gives roughly $1 per pip, and a micro lot roughly $0.10. This calculator shows the exact value for the pair and size you select.
Why do JPY pairs have different pip values?
JPY pairs are quoted to two decimal places because the yen has a much lower value per unit than most other major currencies. A pip is therefore 0.01 rather than 0.0001, which changes the pip value calculation compared to standard four-decimal pairs like EUR/USD or GBP/USD.
What is the difference between a pip and a pipette?
A pipette is one tenth of a pip, represented by the fifth decimal place on most pairs (or the third on JPY pairs). Many brokers quote to pipette precision. Risk calculations are generally done in full pips, but pipettes are useful for measuring spreads and slippage more accurately.
How do I use pip value to calculate my risk?
Multiply your stop loss distance in pips by the pip value for your chosen lot size. The result is the dollar amount you will lose if the trade hits your stop. That figure should match your pre-defined risk amount for the trade. If it does not, adjust your lot size accordingly.