Pip Value Calculator

Pip value in USD

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British pound coin and a US dollar coin facing each other on a reflective surface

How this pip calculator works

This pip calculator multiplies your position size by the pip size, then converts the result into dollars when the pair is not quoted in dollars.

Pip value (quote currency) = lots × 100,000 × pip size
USD-quoted pairs (EUR/USD, GBP/USD): result is already in dollars
USD-based pairs (USD/JPY, USD/CAD): divide by the pair's price
Crosses (EUR/GBP, EUR/JPY): convert the quote currency to dollars with the relevant rate
Gold: lots × 100 oz × 0.01

Worked examples

GBP/USD, 0.4 lots: 0.4 × 100,000 × 0.0001 = $4 per pip.
USD/CAD at 1.3600, 1 lot: 100,000 × 0.0001 = CAD 10 per pip; 10 ÷ 1.36 ≈ $7.35.
EUR/GBP, 1 lot, with GBP/USD at 1.2700: 100,000 × 0.0001 = £10 per pip; 10 × 1.27 = $12.70.
XAU/USD, 1 lot: 100 × 0.01 = $1 per 0.01 move, or $100 for a full $1 move in gold.

Prices in these examples are illustrative. For USD-based and cross pairs, the answer changes as exchange rates change, so recalculate with a current price.

Reading the result

The number tells you how much your profit or loss changes for each pip the price moves. Multiply it by the distance to your stop-loss to get the loss you are accepting on the trade; that is the input the position size calculator works from. Pip value says nothing about how much margin the trade needs; for that, use the margin calculator.

If your account is not in US dollars, convert the result at your own currency's rate. For the vocabulary behind these numbers, see how forex trading works.

Pip values scale directly with position size, and leverage makes large positions easy to open. Calculate before you trade, not after.