Pip Calculator
Find out exactly what one pip is worth on any currency pair, in your own account currency, before you place the trade — not after.
Calculate pip value
Live formulaConversions use indicative reference rates for education purposes only. Always confirm live pip values on your broker's platform before trading.
How pip value is worked out
- A pip is the fourth decimal place on most pairs (0.0001), or the second decimal place on JPY pairs (0.01).
- Position size is your lot size multiplied by the number of lots you enter.
- If the pair's quote currency isn't your account currency, the value is converted using the current exchange rate.
Pip value is the first number every risk plan needs
Position sizing
Work backwards from the amount you're willing to risk to the exact lot size that matches it.
Stop-loss planning
Convert a stop-loss distance in pips into a real monetary figure before you enter the trade.
Comparing pairs
Pip value differs across pairs — check it whenever you trade something outside your usual majors.
Pip calculator — common questions
What exactly is a pip?+
A pip (percentage in point) is the standard unit of price movement in forex. For most currency pairs it's the fourth decimal place (0.0001); for pairs quoted in Japanese yen, it's the second decimal place (0.01).
Why does pip value change between currency pairs?+
Pip value depends on the quote currency of the pair and the current exchange rate back into your account currency. That's why the same 0.1 lot position can be worth a different amount on EUR/USD versus GBP/JPY.
Does this calculator use live exchange rates?+
It uses indicative reference rates intended for learning and planning. For the exact pip value on a live position, always check the figure shown on your broker's trading platform.
How do I use pip value to manage risk?+
Multiply your stop-loss distance in pips by the pip value to see the exact amount at risk in your account currency, then size your position so that figure matches the amount you're comfortable risking.
Want to understand the "why" behind these numbers?
Our free Risk Management module walks through position sizing and pip math step by step, taught by mentors with 20+ years in the market.