Pip Value Calculator
Calculate the exact monetary value of each pip movement for any currency pair. Understand your risk before you trade.
Configure Your Trade
A 100-pip move against you would cost £738.00. Make sure this fits within your risk management plan.
📐 How This Was Calculated
📊 Pip Value Across Lot Sizes
See how pip value scales with position size for the selected pair:
| Lot Type | Size | Units | Pip Value | 10 Pips |
|---|
Understanding Pip Values
What is a Pip?
A pip (percentage in point) is the smallest standard price movement in a currency pair. For most pairs, this is the fourth decimal place (0.0001). For Japanese Yen pairs, it's the second decimal place (0.01). Understanding pip values helps you quantify exactly how much money is at stake with each price movement.
Why Pip Values Change
Pip value depends on three factors: the currency pair being traded, the size of your position (lot size), and the exchange rate between the quote currency and your account currency. This is why the same 10-pip move can mean very different amounts in your account depending on what and how much you're trading.
How to Use This Tool
Before placing any trade, use this calculator to understand the monetary impact of price movements. If your stop loss is 30 pips away, multiply the pip value by 30 to know your maximum risk. Always ensure this amount is within your risk tolerance — most professionals risk no more than 1-2% of their account per trade.
Common Mistakes
Beginners often assume pip values are fixed — they're not. They also confuse pips with pipettes (a pipette is 1/10th of a pip). Another common error is not accounting for account currency conversion, which can significantly affect your actual profit or loss in your home currency.
Frequently Asked Questions
What is a pip in forex trading?
A pip (percentage in point) is the smallest standard price movement in a currency pair. For most pairs, one pip equals 0.0001 (the fourth decimal place). For JPY pairs, one pip equals 0.01 (the second decimal place). For example, if EUR/USD moves from 1.0850 to 1.0851, that's a one-pip movement.
How do you calculate pip value?
Pip value = (One Pip × Lot Size) ÷ Exchange Rate. For a standard lot (100,000 units) of EUR/USD at 1.0850: (0.0001 × 100,000) = $10.00 per pip. If your account is in a different currency, you then convert using the relevant exchange rate.
Why do JPY pairs have different pip values?
Japanese Yen pairs are quoted to two decimal places instead of four because the Yen's value relative to other major currencies is much lower (e.g., 1 USD ≈ 150 JPY). Two decimal places provide the equivalent precision that four decimal places provide for other pairs.
What is the difference between a pip and a pipette?
A pipette is one-tenth of a pip. Many brokers now quote prices to 5 decimal places (3 for JPY pairs). The fifth decimal place is the pipette. So if EUR/USD moves from 1.08501 to 1.08502, that's a one-pipette (0.1 pip) movement. This calculator works with standard pips, not pipettes.
Are the exchange rates in this calculator live?
The rates shown are approximate reference rates. You can manually enter the current rate from your broker's platform for precise calculations. The exchange rate field is editable — just type in the exact rate you see on your trading platform for the most accurate pip value.