Pip Value Calculator

This pip calculator answers one question: if the price moves by one pip, how many dollars does your position gain or lose? Choose the pair, check the price, enter the size in lots and the result updates as you type. Nothing is sent or stored.

The pip calculator formula

A standard lot is 100,000 units of currency, or 100 ounces for gold. The pip size is 0.0001 for most pairs and 0.01 for yen pairs; for gold the calculator uses a 0.01 move. When the quote currency is the US dollar, no conversion is needed. When it is not, the calculator converts at the current rate, and for crosses it asks you for the rate to use.

Worked examples

These figures are illustrative.

The yen example shows why conversion matters: the pip is worth ¥1,000 on one lot, and at 150 yen per dollar that is about $6.67. If USD/JPY rose to a higher rate, the same pip would be worth fewer dollars.

How to read the result

Multiply the pip value by the distance to your stop-loss to see what the stop would cost. On 0.5 lots of EUR/USD, a 30-pip stop is 30 × $5 = $150 before costs. If that number is more than you are willing to lose, reduce the size rather than tighten the stop until it sits inside normal price noise.

To go the other way, from an acceptable loss to a lot size, use the position size calculator. For the collateral a trade needs, use the margin calculator. The forex guide explains pips and lots from the beginning.