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Pip value calculator

What one pip is worth, in your account currency, for currency pairs, metals and indices. It handles the three conversion cases separately — most calculators collapse them into one and get crosses quietly wrong — and it shows you the arithmetic.

Instrument
Per pip, 1.00 lot, in USD
10.00 USD
Per pip, 1.00 lot, your currency
10.00 USD
Per pip on 1.00 lots
10.00 USD
Show the working

    The calculator needs JavaScript, and it runs entirely in this tab — nothing is sent anywhere. With it off, the six worked cases below are computed the same way and are correct as printed.

    The formula

    Pip value (quote currency) = pip size × contract size × lots
    Pip value (account currency) = that, converted

    • Pip size — 0.0001 for most pairs, 0.01 for anything quoted against the yen. For metals and indices there is no standard, so use the tick from your contract specification.
    • Contract size — 100,000 units of the base currency for one standard FX lot. Anything else is a broker setting.
    • The conversion — three cases, and only three:
    • Account currency is the quote currency. Nothing to do. EUR/USD in a USD account is $10 per pip per lot, permanently.
    • Account currency is the base currency. Divide by the current price. USD/JPY in a USD account is 1,000 JPY per pip, which is 1,000 ÷ the USD/JPY price in dollars — so it changes as the pair moves.
    • Neither. Multiply by a quote → account rate. This is the case that needs a number we do not have, so we ask for it.

    A consequence worth knowing: for any JPY-quoted cross in a USD account — GBP/JPY, EUR/JPY, AUD/JPY — the pip value is identical, because it depends only on USD/JPY. The pair you are trading does not enter the calculation.

    Six worked cases, one for each situation

    Prices below are illustrative, not live quotes — this page fetches nothing. Every row is computed by the same code the calculator runs, at the moment this page was built.

    CaseInstrumentPricePer lot, quotePer lot, account
    Account currency IS the quote currency
    No conversion at all, and the value never moves with the price.    		EUR/USD
    USD account    		1.0850010.00 USD10.00 USD
    Account currency IS the base currency
    Divide by the price — which is why this one changes every day and EUR/USD does not.    		USD/JPY
    USD account    		157.2001,000.00 JPY6.36 USD
    A JPY cross, USD account
    The value depends on USD/JPY and not at all on GBP/JPY. Most people find that surprising.    		GBP/JPY
    USD account    		198.900
    rate 0.006361    		1,000.00 JPY6.36 USD
    A cross with neither leg in your account currency
    Needs a GBP→USD rate. This is the case broker calculators get wrong silently.    		EUR/GBP
    USD account    		0.84500
    rate 1.27    		10.00 GBP12.70 USD
    Gold — not a currency pair
    100 ounces per lot, so a 0.01 move is $1.00. Call it a point, because it is not a pip.    		Gold (XAU/USD)
    USD account    		2360.001.00 USD1.00 USD
    An index CFD
    One index point per lot on this broker’s spec. Yours may differ by a factor of ten — check it.    		US30 / Dow (CFD)
    USD account    		39250.01.00 USD1.00 USD
    One standard lot in every row, so the column can be compared directly. Multiply by your own lot size.

    What the number is actually for

    Pip value is not interesting on its own. It is the bridge between a distance on a chart and an amount of money, and it exists so you can answer the only question that matters before entering: if this stop is hit, how much do I lose? That is position sizing, and pip value is its input.

    The second use is reconciliation. When a trade closes for an amount you did not expect, multiply the pips by the pip value and compare. If the two disagree by more than a rounding error, the difference is commission, swap or a currency conversion you had not accounted for — and knowing which is the difference between a mystery and a cost.

    What it will not do is make pips comparable. Ten pips on EUR/USD and ten on GBP/JPY are different amounts of money and different amounts of risk, which is why serious review is done in R-multiples rather than pips.

    Questions

    Why does the calculator ask me for an exchange rate?

    Because this page loads nothing from anywhere — no scripts, no API, no tracker. A rate we hard-coded would be a number frozen on the day it was written, and a pip value computed against a stale rate is wrong in a way you cannot see. When your account currency is neither leg of the pair, we ask for the one rate we need and show the multiplication.

    Why is the pip value of USD/JPY different every day?

    Because the US dollar is the base currency of that pair, not the quote currency. A pip is worth 1,000 JPY per lot no matter what, and converting 1,000 JPY into dollars means dividing by the USD/JPY price — which changes. For EUR/USD in a dollar account, the pip is already in dollars and is a flat $10 per lot forever.

    What is a pip on gold?

    Nothing standard, which is why this calculator says "point" for gold. A common retail spec is 100 ounces per lot with a 0.01 tick, making one tick worth $1.00 per lot — but some brokers call a 0.10 move one pip and quote $10. Only your broker’s contract specification settles it, and the contract size and tick size are editable here for that reason.

    Your statement already knows this

    Every closed trade in your MT4 or MT5 statement carries the size, the prices and the money — so the pip value you were actually trading is already recorded. Drop the file on the page and see all of it: no signup, no upload, parsed inside your browser tab.

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