Pips Calculator: Pip Value per Lot

How to use the pips calculator

1. Currency pair. The pair you're trading. JPY pairs are handled automatically (pip = 0.01).
2. Account currency. The currency your broker account is held in.
3. Lot size. 1 for a standard lot, 0.1 for a mini lot, 0.01 for a micro lot, or any size in between.

The result is what one pip is worth for that position, first in the pair's quote currency, then converted into your account currency. To turn it into money for a trade, multiply by the number of pips.

Pip value math

A pip is the smallest standard price increment for a pair: 0.0001 for most pairs, 0.01 for JPY pairs.

For 1 standard lot (100,000 base units), the pip value in the quote currency is fixed:

• Most pairs: 0.0001 × 100,000 = 10 quote-currency units per pip
• JPY pairs: 0.01 × 100,000 = 1,000 JPY per pip

To convert into your account currency, multiply by the current quote→account exchange rate. This calculator handles that automatically using the latest European Central Bank reference rates, published once per business day.

Three worked examples

One pip on one standard lot is 10 units of the quote currency (1,000 for JPY pairs). The work is converting that into your account currency.

• Quote currency = account currency. EUR/USD in a dollar account: $10 per pip per lot. No conversion, so the value doesn't move with the rate.
• Account currency is the base. USD/CAD in a dollar account at 1.3600: 10 CAD ÷ 1.36 = $7.35 per pip per lot.
• Neither. EUR/GBP in a dollar account, with GBP/USD at 1.3000: £10 × 1.30 = $13.00 per pip per lot. And USD/JPY in a euro account, with EUR/JPY at 160.00: 1,000 JPY ÷ 160 = €6.25.

Rates here are round examples; the calculator uses the latest ECB reference rate.

From pip value to profit or loss

Profit or loss = pips × pip value per lot × lots. A 40-pip gain on 0.30 lots of EUR/USD in a dollar account is 40 × $10 × 0.30 = $120. The same 40 pips on 0.30 lots of USD/CAD at 1.3600 is 40 × $7.35 × 0.30 ≈ $88. Same distance, different money: that's why sizing by pips alone misleads, and why the position size calculator starts from the pip value. For pip values at a glance across 1 to 1,000 pips, see the table in what is a pip.

What changes pip value, and what doesn't

• Changes it: the position size (linearly: half the lots, half the pip value), the pair's quote currency, and, when your account currency differs from the quote currency, the exchange rate between them.
• Doesn't change it: leverage. Leverage sets how much margin the broker holds, not what a pip is worth. See the margin calculator.

If your platform shows a different figure, check two things: whether its live price has moved away from the day's ECB reference rate, and whether it counts in points (on five-digit quotes, one point is a tenth of a pip).

FAQ

How much is one pip worth?

For one standard lot (100,000 units), one pip equals 10 units of the quote currency for most pairs and 1,000 JPY for JPY pairs. Convert that into your account currency at the current quote-to-account exchange rate.

What is one pip on EUR/USD worth in USD?

Exactly $10 per standard lot, because USD is the quote currency, so no conversion is needed. A mini lot (0.1) is $1 and a micro lot (0.01) is $0.10.

Does pip value change with the exchange rate?

Only when your account currency differs from the pair's quote currency. Then pip value moves with the quote-to-account rate. When they match, pip value is fixed per lot.

How do I calculate how much I make per pip?

Multiply the pip value per standard lot by your lot size. On EUR/USD in a dollar account, 0.30 lots makes $3 per pip.

Does leverage affect pip value?

No. Pip value depends on the pair, your position size and your account currency. Leverage only changes the margin held.

Why is my broker's pip value slightly different?

Usually the rate: this calculator converts at the day's ECB reference rate, while a platform converts at its own live price. Some platforms also count in points, a tenth of a pip on five-digit quotes.