Pick a currency pair, enter the exchange rate and your lot size to see what one pip is worth in your account currency, plus the value of your stop loss or target in pips. Works for USD, JPY-quoted and cross pairs.
Last updated:
Trade
Current quote, e.g. 1.0850 for EUR/USD or 150.25 for USD/JPY.
Choose the currency pair and type its current exchange rate.
Pick the lot size and the number of lots, or enter a custom number of units.
Tell the calculator your account currency: the quote currency, the base currency, or a third currency with its conversion rate.
Enter a pip distance such as your stop loss to see how much it is worth.
Read the pip value and use the table to compare lot sizes.
Pip value formula
Pip value (quote currency) = pip size × units
Pip size = 0.0001 for most pairs, 0.01 for pairs quoted in JPY.
Units = lots × lot size (100,000 standard, 10,000 mini, 1,000 micro, 100 nano).
If your account is in the quote currency (USD on EUR/USD), that is the answer.
If your account is in the base currency (USD on USD/JPY), divide by the price: 0.01 × 100,000 ÷ 150.00 = $6.67.
For a third currency (USD on EUR/GBP), multiply by the quote-to-account rate: 0.0001 × 100,000 × 1.27 (GBP/USD) = $12.70.
Money gained or lost on a trade = pip value × pips moved. A 20-pip stop on 1 standard lot of EUR/USD risks 20 × $10 = $200.
Pip value reference for a USD account
Values per pip. Pairs quoted in USD are fixed; the others depend on the exchange rate shown.
Pair
Rate used
Standard lot
Mini lot
Micro lot
EUR/USD, GBP/USD, AUD/USD, NZD/USD
any
$10.00
$1.00
$0.10
USD/JPY
150.00
$6.67
$0.67
$0.07
USD/CAD
1.3500
$7.41
$0.74
$0.07
USD/CHF
0.8800
$11.36
$1.14
$0.11
EUR/GBP (GBP/USD 1.2700)
—
$12.70
$1.27
$0.13
Rates in the table are examples only. Enter the live rate from your broker for an exact figure.
Frequently asked questions
How do you calculate pip value?
Pip value = pip size × position size in units, which gives the value in the quote currency (the second currency in the pair). If your account uses a different currency, convert it: divide by the pair's price when your account is in the base currency, or multiply by the quote-to-account exchange rate for any other currency.
What is a pip in forex?
A pip is the standard smallest price step traders count. For most pairs it is the fourth decimal place, 0.0001. For pairs quoted in Japanese yen it is the second decimal place, 0.01. Many brokers quote one more decimal (a pipette or fractional pip), which is one tenth of a pip.
How much is one pip worth on a standard lot?
For any pair quoted in US dollars, such as EUR/USD or GBP/USD, one pip on a standard lot of 100,000 units is worth exactly $10 for a USD account. A mini lot is $1 per pip and a micro lot is $0.10 per pip.
Why does pip value change for USD/JPY?
On USD/JPY the pip is worth a fixed 1,000 yen per standard lot (0.01 × 100,000). For a USD account that is converted at the current rate, so at 150.00 one pip is about $6.67, and the dollar value moves as the exchange rate moves.
What are standard, mini, micro and nano lots?
A standard lot is 100,000 units of the base currency, a mini lot 10,000, a micro lot 1,000 and a nano lot 100. Lot size scales pip value directly: a mini lot's pip value is one tenth of a standard lot's.
How do I use pip value for risk management?
Multiply the pip value by your stop-loss distance in pips to get the money at risk on the trade. Many traders size positions so this amount is a fixed small percentage of the account. The position size calculator can do that step for you.
Is my data sent anywhere?
No. The calculator has no live price feed and sends nothing: you type the rate yourself and every calculation runs in your browser.
Are all the tools on FreeToolCabin tested for quality and accuracy?
Yes! Every tool on our site undergoes automated Q/A testing in real browser environments to ensure high precision, correct output, and zero errors. If you happen to spot a bug or have a suggestion, please contact us at [email protected] and our team will review it right away.