Pip Value Calculator

What's a pip — and why pip value matters

A pip is the smallest standard price move in an FX pair. For most pairs that's 0.0001 (the 4th decimal). For yen pairs (USDJPY, EURJPY, etc.) it's 0.01 (2nd decimal). Gold (XAU/USD) is typically priced in 0.1 increments.

The pip value is how much one pip is worth in your account currency. It changes based on lot size, the pair you're trading, and your account currency. Get this wrong and your risk math is wrong — that's why every prop trader has a pip calculator pinned.

Worked example

Trading 1 standard lot of EUR/USD: 0.0001 × 100,000 × 1 = $10 per pip (because the quote is already USD). For USD/JPY, 0.01 × 100,000 × 1 = 1,000 JPY ≈ $6.70 per pip at current rates.