Forex pip value calculator. Find the USD value of one FX pip for standard, mini, micro or custom lots, including cross pairs with a manually entered quote-to-USD conversion, plus the value of a signed pip amount.
Pip Value Formula
When USD is the quote currency (EUR/USD, GBP/USD), one pip is worth a fixed amount per unit in a USD account:
PV = PipSize * Units
When USD is the base currency (USD/JPY, USD/CAD), the pip is denominated in the quote currency and must be converted back through the exchange rate:
PV = (PipSize / Rate) * Units
Variables:
- PV is the value of one pip in USD ($)
- PipSize is 0.0001 for most pairs, or 0.01 for JPY-quoted pairs
- Units is the position size in base-currency units (a standard lot is 100,000; mini 10,000; micro 1,000)
- Rate is the entered quote-currency units per 1 USD for a USD-base pair. For a cross pair, multiply the quote-currency pip value by USD per 1 quote-currency unit instead.
Pick the pair type, lot size and positive number of lots. For USD-base pairs, enter quote-currency units per dollar and select the pip size. For cross pairs, enter USD per one quote-currency unit; invert a USD/quote rate first. Rates are entered manually, not fetched live. The calculator values one pip, each selected lot, 10/100 pips and an optional signed pip amount at a fixed conversion rate. It excludes trading costs and does not calculate direction-specific trade P/L.
Pip Values by Lot Size
Standard reference values for a USD-denominated account.
| Pair / lot | Standard (100k) | Mini (10k) | Micro (1k) |
|---|---|---|---|
| EUR/USD (any USD-quote pair) | $10.00 | $1.00 | $0.10 |
| USD/JPY at 155.00 | $6.45 | $0.65 | $0.06 |
| USD/CAD at 1.3700 | $7.30 | $0.73 | $0.07 |
| USD/CHF at 0.9000 | $11.11 | $1.11 | $0.11 |
USD-quote pairs are the easy case - $10 per pip per standard lot, always. USD-base pairs drift with the exchange rate, so recompute when rates move materially.
Example Problems
Example 1: EUR/USD mini lots.
You trade 3 mini lots (30,000 units) of EUR/USD.
PV = 0.0001 * 30,000 = $3.00 per pip. A 25-pip stop risks 25 * 3 = $75, and a 50-pip target is worth $150.
Example 2: USD/JPY standard lot.
You trade 1 standard lot of USD/JPY at a rate of 155.20.
PV = (0.01 / 155.20) * 100,000 = $6.44329897 per pip, or about $6.44. Keeping the unrounded value, 40 pips is approximately $257.73 at that fixed conversion rate, before costs.
Frequently Asked Questions
What exactly is a pip?
A pip is the standard price increment of a currency pair - 0.0001 for most pairs and 0.01 for pairs quoted in Japanese yen. Many brokers also quote a tenth of a pip, called a pipette, at one extra decimal place: commonly the fifth decimal, or the third for JPY-quoted pairs.
Why does my pip value change on USD/JPY but not EUR/USD?
On EUR/USD the pip is defined in USD, your account currency, so its value is fixed by position size alone. On USD/JPY the pip is defined in yen, and converting yen to dollars depends on the current rate - so the pip value moves as the pair moves.
How do I use pip value for position sizing?
Decide your dollar risk and stop distance first. Dividing risk by (stop distance in pips * pip value per lot) gives the number of lots. Risking $200 with a 40-pip stop on EUR/USD: 200 / (40 * 10) = 0.5 standard lots, or 5 mini lots.
