Pip Calculator
Calculate the dollar value of one pip across forex pairs at any lot size. Used to plan position size before a trade.
Interactive calculator widget
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How it works
A pip is the smallest standard price move in a forex quote. Pip value depends on lot size and the quote currency. On EUR/USD at one standard lot, one pip equals $10. On USD/JPY at one standard lot, one pip equals about $6.50 because the JPY quote uses two decimal places, not four. The calculator converts the pip move into dollars based on the lot size and quote currency you input.
Formula
Pip value (USD) = (pip size in quote currency × lot size) ÷ exchange rate of quote currency to USD Worked Examples
| Input | Output |
|---|---|
| EUR/USD · 1 lot · pip size 0.0001 | $10 per pip |
| EUR/USD · 0.1 lot · pip size 0.0001 | $1 per pip |
| USD/JPY · 1 lot · pip size 0.01 · rate 150 | $6.67 per pip |
| GBP/JPY · 0.5 lot · pip size 0.01 · rate 190 | $2.63 per pip |
Apply with these brokers
The pip calculator is most useful when paired with a tight-spread broker. Our analysts recommend:
For our full testing methodology see how we rate brokers. Risk warning: CFDs are complex instruments and carry significant risk.