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Pip value calculator
Work out how much a pip is worth for your pair and position size, in your account currency.
How pip value is calculated
A pip is the last decimal of the price on most pairs (the fourth, or the second on yen pairs). Its value in money depends on your position size and on the pair's quote currency, which has to be converted into your account currency.
Pip value = (Pip size ÷ Price) × Units × Exchange rate to your currency
A worked example
On EUR/USD a standard lot is 100,000 units and a pip is 0.0001, so each pip moves $10. If your account is in euros and the rate is 1.10, those $10 are about €9.09. On a mini lot (10,000 units) it would be a tenth of that.
Frequently asked questions
- Why is it different on yen pairs?
- Because the yen quotes to two decimals rather than four, so a pip is 0.01 and not 0.0001. The calculator accounts for this from the pair you pick.
- Where does the exchange rate come from?
- From the European Central Bank's daily reference rates. The date of the observation used is shown: it is an official daily rate, not a live quote, so it may differ somewhat from the one your broker applies at the moment.
- What if my account is in the pair's quote currency?
- Then there is no conversion and the calculation is direct. That is the case for a dollar account trading EUR/USD, for instance: the pip value already comes out in the account currency.
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