Pip Value Calculator
Calculate the pip value for any currency pair based on lot size and account currency.
1 standard lot = 100,000 units
Pip Value
$0.00Per pip for 1 lot(s) of EUR/USD
What Is Pip Value & Why It Matters
A 'pip' is the smallest price move in forex. For most pairs, it's the fourth decimal place (0.0001). For yen pairs, it's the second decimal place (0.01). Pip value tells you how much money you gain or lose for every pip the price moves.
Pip value is the foundation of risk management. Before you can calculate your position size, you need to know the pip value for your chosen pair and lot size. Without this number, you're trading blind.
Pip value varies by currency pair and lot size. EUR/USD at 1.0 standard lot = $10 per pip. USD/JPY at 1.0 lot ≈ $6.50 per pip (varies with exchange rate). A 50-pip stop loss on EUR/USD costs $500, but on USD/JPY it might cost only $325.
Pip Value at a Glance
| Pair | Pip Value | 50-pip stop cost |
|---|---|---|
| EUR/USD | $10.00 | $500.00 |
| GBP/USD | $10.00 | $500.00 |
| AUD/USD | $10.00 | $500.00 |
| USD/JPY | ~$6.50 | ~$325.00 |
| USD/CHF | ~$11.20 | ~$560.00 |
| GBP/JPY | ~$6.70 | ~$335.00 |
| EUR/GBP | ~$13.10 | ~$655.00 |
* JPY and cross pair values vary with exchange rates
Real Examples
Three different pip value scenarios
Common Mistakes
#1: Assuming All Pairs Are $10/Pip
What traders do
Treating every currency pair as if it has the same pip value as EUR/USD
The consequence
USD/JPY ≈ $6.50/pip, EUR/GBP ≈ $13/pip. Your $500 stop loss estimate could be off by hundreds.
What to do instead
Always check the pip value for your specific pair before calculating risk.
#2: Confusing Pips and Pipettes
What traders do
Counting 5th decimal pipettes as full pips when setting your stop loss
The consequence
50 pips = 500 pipettes. If you enter 500 as pips, your stop is 10× wider than intended.
What to do instead
1 pip = 10 pipettes. Set your stop in pips, not pipettes.
#3: Forgetting Account Currency
What traders do
Calculating risk in USD when your account is denominated in GBP
The consequence
$500 risk on a GBP account at 1.27 means £394 actual risk. Currency moves change your risk profile.
What to do instead
Convert all risk calculations to your account currency.