Pip Calculator

What this calculator covers

It covers 30 instruments: 28 currency pairs plus gold (XAUUSD) and silver (XAGUSD). Each pair carries its own quoting convention, and the calculator applies the right one for whichever instrument you pick, then prints it on screen so you can check it against your broker.

Account currencies cover the majors and the commonly used minors. You can run the numbers on a standard account or a cent account, where one lot is a thousand units rather than a hundred thousand.

Index CFDs such as US30, NAS100 and SPX500 are left out on purpose. Their contract size and point value differ from broker to broker, so any figure printed here would be a guess. Crypto pairs are left out for the same reason. For either, read your broker's contract specification.

Index CFDs have a tool of their own: the US30 pip calculator starts from what one index point is worth per lot — a figure you can read off your own platform — so it works without a contract size.

Crypto pairs have the same problem plus one of their own, which is that one lot of BTCUSD is not the same amount of coin at every broker. The BTCUSD pip calculator starts from what one dollar of price movement is worth per lot and covers the tick convention that makes the word pip ambiguous on bitcoin.

How pip value is calculated

Two fixed numbers decide the pip value, and one market number converts it into your currency:

1. Pip size — how much price has to move to count as one pip. A convention, not a rate.
2. Contract size — how many units sit in one standard lot. Also a convention.
3. The exchange rate — needed only when the quote currency is not your account currency.

Pip size × contract size × lot size gives the pip value in the quote currency. That number is fixed. Converting it into your account currency is the only step that depends on the market, and that is where a stale rate produces a wrong answer.

Worked example, EURUSD on one standard lot with a USD account: pip size 0.0001 × contract size 100,000 × 1 lot = 10 USD per pip. The quote currency is already USD, so no conversion is needed and the answer stays 10 USD however the pair moves.

Worked example, USDJPY on one standard lot with a USD account: pip size 0.01 × contract size 100,000 × 1 lot = 1,000 JPY per pip. The quote currency is JPY and the account is USD, so divide by the USDJPY rate you typed in.

Why JPY pairs put the pip on the second decimal

A pip is not a fixed count of decimals across every instrument — it follows the quoting convention. On four-decimal pairs such as EURUSD, one pip is 0.0001 and one point is 0.00001. On JPY-quoted pairs such as USDJPY, one pip is 0.01, the second decimal rather than the fourth. One pip is always ten points.

The reason is the size of the unit. The yen is worth roughly a hundredth of a dollar or a euro, so a four-decimal pip on a JPY pair would be a price move far smaller than anything the market trades in. Quoting to two decimals keeps the pip at a usable size. It does not make the pip more valuable — it makes it a different number of price units, which is exactly why the result above multiplies by the pip size instead of assuming 0.0001.

Metals quoted to two decimals work the same way: one pip is a move of 0.01 in price.

Pips to dollars — what the conversion needs from you

"How much is 50 pips in dollars?" has no single answer, and the reason is not that the market moves. A pip count is a distance, not an amount. Turning it into money takes three more numbers, and two of them are conventions you never typed in:

1. Which instrument — this fixes the pip size (0.0001 or 0.01) and the contract size (100,000 units, 100 ounces or 5,000 ounces).
2. The lot size — the same pip count is worth a hundred times more on a standard lot than on a micro lot.
3. Your account currency — when the quote currency is not it, one exchange rate stands between the pip value and your money.

The calculator at the top of this page takes all three. The tables below show how far the answer travels when each of them changes.

What one pip is worth in dollars

Account in USD, standard account type, USDJPY priced at 150.00. Every figure is what the calculator prints for that combination.

Gold is in the table because it is the clearest case of the contract size doing the work: one standard lot is 100 ounces rather than 100,000 units, so a pip is worth a tenth of what it is worth on a dollar-quoted pair, even though the pip size is the same 0.01.

The same pips on three different lot sizes

EURUSD, account in USD. Down the rows only the pip count changes; across the columns only the lot size does.

A pip count of 2,000 sounds like a fortune until you read across the row: 200.00 USD on a micro lot, 20,000.00 USD on a standard one. The hundred-fold spread comes entirely from a number the question never mentioned. Read down a column instead and the answer scales with the pips — which is the only direction in which "how much are pips worth" has a shape.

Why the same pips are worth fewer dollars as USDJPY rises

On EURUSD with a USD account, one pip on a standard lot is 10.00 USD at every price the pair has ever traded at. There is nothing to look up and nothing to update, because the quote currency is already your account currency. On USDJPY the quote currency is yen, so the conversion happens after the pip value is fixed — and that makes the dollar figure move in the opposite direction to the pair.

One pip is 1,000.00 JPY in every row. The yen figure is the convention; the dollar figure is a division, and the number it divides by is the price. Between 110.00 and 160.00 the pair rises 45.45% while the dollar value of one pip falls 31.25% — the same position and the same hundred pips turning from 909.09 USD into 625.00 USD with no trade placed in between.

That is the part a one-line "pips to dollars" shortcut misses. It is not one conversion, it is two, and only the second one moves.

Three different things called 0.01

The number 0.01 appears on this page in three unrelated places, and mixing them up is the most common way to get a wrong answer to "how much is 0.01 worth":

• 0.01 as a lot size — a micro lot. On EURUSD that is 1,000 EUR of position.
• 0.01 as a price move — one pip on a JPY-quoted pair, and one pip on gold and silver at two-decimal quotes.
• 0.01 as a fraction of a pip — a hundredth of a pip, which is a tenth of a point. On a standard lot of EURUSD that is 0.10 USD; on a micro lot, 0.001 USD. No broker quotes it, because the last digit on a five-decimal EURUSD quote is already a tenth of a pip.

On a micro lot of gold all three meet: 0.01 lots is one ounce, a 0.01 move in the price is one pip, and that pip is worth 0.01 USD.

So when a figure reads "0.01" and the question is what it is worth in dollars, the answer depends entirely on which of the three it is — and the smallest of them is not something you can trade.

What this page does not assume while you convert

• It does not assume which instrument you mean. A pip count with no instrument behind it has no dollar value at all, because the pip size and the contract size come from the instrument.
• It does not assume a lot size. The tables above show the same pip count spanning a hundred-fold range between a micro and a standard lot.
• It does not assume your account currency is USD, and it does not fetch a rate. When the quote currency is neither your account currency nor the base currency, the conversion field opens and the rate has to come from you.
• It does not assume your contract size. One standard lot equals 100,000 units here, and 100 ounces on gold and 5,000 ounces on silver; cent accounts divide all of it by a hundred, and brokers are free to differ.
• It does not assume your broker uses this site's definition of a pip. Where a broker calls the fifth decimal a pip, their numbers are a tenth of the ones here.

Pip and point — where the industry disagrees

Most pairs are quoted to five decimals, and the fifth digit is a point, not a pip. Brokers that quote five decimals often say "pip" when they mean the fifth digit. If your broker shows five decimals and calls the last one a pip, their "pip" is this site's point, and their numbers will be a tenth of the ones here.

Gold is the other place the wording splits. This site treats a pip on XAUUSD as a move of 0.01 in price, which gives one dollar per pip on a standard lot of 100 ounces. Some tools treat a pip on gold as a move of 0.10, which gives ten dollars per pip on the same position. Both are in circulation; neither is a calculation error, they are different definitions. Check which one your broker or signal provider uses before comparing numbers.

Both definitions are set side by side on the XAUUSD pip calculator, which also converts a stop measured in dollars per ounce into a lot size.

Silver has the same split, with some tools treating 0.001 as the pip. If a figure here disagrees with another tool, check the pip size it assumes before assuming one of you is wrong.

MT4 and MT5 add a third place the wording splits: the platforms report distances in points, not in pips, and the minimum stop level in the symbol specification is measured in points too. The MT4 lot size calculator converts a stop in pips into the points the platform reports and checks it against that minimum.

Where the prices come from

You enter them. This page has no live market feed — it does not fetch prices, and it will never show a price it did not get from you. Open your broker's platform, copy the current price for the pair you are trading, and paste it into the price field.

When your account currency is the quote currency, no conversion is needed. When it is the base currency, the rate is derived from the price you entered. When it is neither — a USD account trading EURGBP, for example — a conversion field appears and you fill it in yourself, because the site has no rate to offer you.

Frequently asked questions

Is this the same as a pip value calculator?

Yes. The two names describe the same job: turning a pip of movement into an amount of money in your account currency. This page also reports the pip value in the quote currency before conversion, which is the part that stays constant.

Does it work for forex pairs that are not majors?

Yes — the cross pairs and the commonly quoted exotic pairs are all in the list, and each carries its own pip size and contract size. The calculation is identical; only the quoting convention changes.

What is a pip in forex?

The smallest price move a pair is quoted in. On the four-decimal pairs most people trade, such as EURUSD, one pip is 0.0001 of the price; on the JPY pairs it is 0.01, the second decimal. A pip is a quoting convention, not a fixed count of decimals, which is why this page asks for the pip size instead of assuming 0.0001. On gold it is a move of 0.01 in price, and on a standard lot of 100 ounces that is one dollar per pip. The worked examples below show the same formula returning different money on different instruments — that is the whole point: the pip is set by the market, the value is set by the size.

Does this pip calculator work for gold, NAS100, indices and other instruments?

Yes. The calculator is symbol-general: you enter the instrument's own pip size and contract size and it returns the pip value for that instrument, whether it is EURUSD, USDJPY, XAUUSD, an index CFD or a crypto pair. The examples on this page already cover EURUSD and USDJPY, and the gold definition is worked through on the XAUUSD pip calculator, with indices handled on the US30 pip calculator and crypto on the BTCUSD pip calculator. Where an instrument's pip definition is disputed — gold and silver each have two in circulation — the relevant page shows both rather than picking one for you.

What is the pip value on ETHUSD?

It is a function of the contract size the broker lists for the symbol, not of the instrument itself. A standard ETHUSD CFD contract is often 1 ETH, so on 1 lot one pip of 0.01 is 0.01 USD, and on 0.10 lots it is 0.001 USD. Other brokers use 10 or 100 ETH per contract, which moves the per-pip figure by the same factor. Enter your broker's contract size and pip size above to get the figure that applies to your account; the page does not assume any specific contract size, because the broker decides it and brokers disagree.

Does ETHUSD even have a pip?

It has whatever the broker quotes it in. Most platforms display ETHUSD to two decimals, so a pip is one cent of price (0.01), and a point is 0.001. A move of one dollar in price is then 100 pips on that quoting convention. On a 0.01-lot position with a 1-ETH contract, one hundred pips is one dollar; on a 1-lot position it is one hundred dollars. The arithmetic is the same as on any other instrument on this page; only the inputs change.

How much profit is 50 pips?

Set the number of pips to 50 and read the profit or loss line. It is the pip value multiplied by 50, so the answer depends entirely on the pair and the lot size: the same 50 pips is a very different amount on a micro lot of EURUSD than on a standard lot of a JPY cross. The worked figures for that conversion are in pips to dollars, including what 100 and 2,000 pips come to on each lot size.

How do I convert pips to dollars?

Set the instrument, the lot size and your account currency, then read the profit or loss line. There is no single factor to multiply by: a pip is a distance, and the money depends on the pip size, the contract size, the lot size and — when the quote currency is not your account currency — one exchange rate. The pips to dollars section shows how far the answer moves when each of those changes.

How much is 1 pip in dollars?

On the pairs quoted in dollars — EURUSD, GBPUSD, AUDUSD and the rest — 10.00 USD on a standard lot, 1.00 USD on a mini and 0.10 USD on a micro, at any price. On USDJPY priced at 150.00 it is 6.6667 USD on a standard lot, and that figure moves as the pair moves. On gold it is 1.00 USD per pip on a standard lot of 100 ounces.

How much is 100 pips worth?

10.00 USD on a micro lot of a dollar-quoted pair, 100.00 USD on a mini and 1,000.00 USD on a standard lot. On USDJPY the same hundred pips is a different amount at every price level: 909.09 USD at 110.00 and 625.00 USD at 160.00 on a standard lot, because the yen figure is fixed and the dollar figure is a division by the price.

How much is 2,000 pips in dollars?

200.00 USD on a micro lot of EURUSD, 2,000.00 USD on a mini, 20,000.00 USD on a standard lot. The pip count is identical in all three. Anything that quotes a single number for 2,000 pips has picked a lot size for you.

What is 0.01 of a pip worth?

0.10 USD on a standard lot of EURUSD and 0.001 USD on a micro lot. It is a tenth of a point, which is smaller than the smallest digit any broker quotes, so it is not something you can trade. If you meant 0.01 as a lot size, or as a price move on a JPY pair or on gold, those are different questions with different answers — the three are set out in pips to dollars.

What is the pip value of USDJPY in USD?

It depends on the rate. One pip is always 1,000.00 JPY on a standard lot. In dollars that is 1,000 divided by the USDJPY price: 9.0909 USD at 110.00, 6.6667 USD at 150.00 and 5.00 USD at 200.00. The yen figure never changes; the dollar figure falls as the pair rises, which is the opposite of what happens on a pair quoted in your own account currency.

What is the point value of USDJPY?

One tenth of the pip value: 100.00 JPY on a standard lot, which is 0.6667 USD at a price of 150.00. Points are the units MT4 and MT5 report distances in, and the minimum stop level in the symbol specification is measured in points too, so the MT4 lot size calculator is the place to convert a stop in pips into the number the platform expects.

Why does my pip value differ from another calculator?

Three things cause it, and all three are worth checking. The pip size may be defined differently, especially on gold and silver. The contract size may differ, which is what separates a cent account from a standard one. Or the other tool converted using a rate captured earlier, which drifts. This page shows all three inputs so you can see which one is at odds.

Does leverage change the pip value?

No. Leverage changes how much margin a position needs, not what a pip is worth. Pip value comes from the pip size, the contract size and the lot size only.

Margin is the other half of the same trade, and it runs on this figure: how many pips of room the account has before a stop-out is the per-pip value measured against the equity above the deposit. The forex margin calculator works it out from the pip value on this page, and sets out the difference between free margin and margin level — one is dollars, the other is the ratio the stop-out reads.

The lot size calculator turns this the other way round: give it a stop distance and a risk percentage, and it returns the position size that keeps the risk inside your limit.

With the three price levels already in hand, the risk reward calculator turns them into the risk to reward ratio and the win rate you need to break even at that ratio, alongside both distances in pips and the money on each side.