TradingToolsHub

Pip Value Calculator

Work out what a pip is worth on a forex position, in the quote currency and in your account currency.

Last reviewed

·

Free · No sign-up · Runs in your browser

Pip value is the conversion factor between a chart and an account. Everything else in forex sizing depends on it: a stop measured in pips means nothing in currency terms until the pip value is known.

It depends on three things - the position size in units, the pip size for the pair, and the rate converting the quote currency into your account currency. Only the last of those moves while a position is open, which is why the pip value on a cross pair drifts and the pip value on a pair quoted in your own currency does not.

Your numbers

Results update as you type. Nothing is sent anywhere.

Result

Pip value in account currency

$10.00

Pip value in quote currency
$10.00
Value of the move entered
$350
Value per 10 pips
$100
Value per 100 pips
$1,000
Pips needed for 100 units of currency
10
Pip value per micro lot
$0.10
Position size in units
100,000

This tool is for informational and educational purposes only. It is not financial or investment advice, and past performance does not guarantee future results.

Pip value depends on position size, the pip size for the pair, and the rate converting the quote currency into your account currency. Only the last of those moves during a trade.

Most pairs use a pip size of 0.0001. Pairs quoted in Japanese yen conventionally use 0.01, which is why the same lot size produces a very different pip value.

Where the quote currency is your account currency, the conversion rate is 1 and the pip value is fixed. Otherwise it drifts as that rate moves.

How to use the pip value calculator

  1. Enter the position size in lots and the units per lot your broker uses.
  2. Enter the pip size for the pair - typically 0.0001, or 0.01 for yen pairs.
  3. Enter the rate converting the quote currency into your account currency, or 1 if they are the same.
  4. Optionally enter a number of pips to see what that move is worth.

What people use this for

  • Converting a stop in pips into a currency amount before sizing a trade.
  • Working out the pip value on a cross pair in your account currency.
  • Checking what a given move is worth on a specific position size.
  • Sizing precisely in micro lots on a small account.

Worked examples

Every figure below is produced by running this calculator against the example inputs, so the numbers always match the tool.

A standard lot on a pair quoted in your account currency

1 standard lot, 0.0001 pip size, conversion rate 1, a 35 pip move.

Pip value in account currency
$10.00
Value of the move entered
$350
Value per 100 pips
$1,000

A yen pair with a different pip size

0.5 lots, 0.01 pip size, conversion rate 0.0068.

Pip value in account currency
$3.40
Value of the move entered
$136
Pip value per micro lot
$0.07

Pip size is a convention, not a constant

Most pairs use 0.0001 as a pip. Pairs quoted in Japanese yen conventionally use 0.01, which is a hundred times larger and produces a completely different pip value for the same lot size.

Brokers also quote fractional pips - an extra decimal place - which is a pricing precision rather than a change to the pip. Enter the pip size, not the smallest quoted increment.

The conversion rate is the part that moves

When the quote currency is your account currency, the pip value is fixed for a given position size and stays fixed. On any other pair it depends on an exchange rate that changes while the trade is open.

For short-term positions the drift is small enough to ignore. On longer holds, or where the conversion rate itself is volatile, the risk on the position is not quite the number calculated at entry.

Where this fits in sizing

The sequence is: decide the risk budget, take the stop distance in pips from the chart, convert it to currency using the pip value, and divide. The pip value is the step in the middle that makes the rest work.

The forex position size calculator does the division once you have this figure, which is why the two are normally used together.

Methodology and assumptions

What this calculator does, and what it deliberately does not do.

  • Results are arithmetic on the numbers you enter. Nothing here predicts prices or connects to an exchange, broker or market data feed.
  • Nothing you type is transmitted or stored - the calculation runs entirely inside your browser.

This tool is for informational and educational purposes only and does not constitute financial or investment advice. Past performance does not guarantee future results.

Nothing on this website is a recommendation to buy, sell or hold any security, currency, derivative or digital asset. No price is predicted and no return is promised or implied.

Trading and investing carry the risk of substantial loss, including the loss of your entire capital. Leveraged products can produce losses that exceed your deposit. Tax treatment depends on your jurisdiction and your circumstances.

Frequently asked questions

What is the pip size for my pair?

Typically 0.0001. Pairs quoted in Japanese yen conventionally use 0.01. Your broker’s contract specification states it.

What conversion rate should I enter?

The rate converting the quote currency of the pair into your account currency. If they are the same currency, enter 1.

Does pip value change during a trade?

On a pair quoted in your account currency, no. On any other pair it moves with the conversion rate.

What is a fractional pip?

An extra decimal place some brokers quote for pricing precision. It is a tenth of a pip and does not change the pip size used here.

Related calculators

More trade calculations tools on TradingToolsHub.

Browse all 4 tools →