Pip value calculator
This pip calculator converts a one-pip move into US dollars for the lot size you enter. Choose a pair, check the price and, for cross pairs, the conversion rate that appears. Everything is calculated in your browser.
The formula
Pip value (USD) = pip value in quote currency × quote-to-USD rate
- Units per lot: 100,000 for currency pairs, 100 ounces for gold.
- Pip size: 0.0001 for most pairs, 0.01 for yen pairs, $0.01 for gold in this tool.
- For pairs quoted in dollars, such as EUR/USD, the rate is 1. For USD/JPY you divide by the price. For crosses such as EUR/GBP, you convert with the relevant dollar pair.
Worked examples
All prices are illustrative.
- EUR/USD, 0.5 lots: 0.5 × 100,000 × 0.0001 = $5 per pip.
- USD/JPY at 150.00, 1 lot: 100,000 × 0.01 = 1,000 yen per pip; 1,000 ÷ 150 = $6.67 per pip.
- EUR/GBP, 1 lot, GBP/USD at 1.27: 100,000 × 0.0001 = £10 per pip; £10 × 1.27 = $12.70 per pip.
- XAU/USD, 2 lots: 2 × 100 × $0.01 = $2 per pip, so a $1 move in gold (100 pips) is $200.
Reading the pip calculator result
The number is the profit or loss for each pip the price moves. Multiply it by the distance to your stop-loss to see what a losing trade would cost, and by the distance to your target for the potential gain. For example, $5 per pip with a 30-pip stop means about $150 at risk before costs.
If the pip value looks too large for your account, reduce the lot size rather than tightening the stop. The position size calculator does that backwards calculation directly, and the margin calculator shows how much deposit the position would lock up. For the background, see the forex lesson.