Pip Value Calculator
What one pip is actually worth on your position, in your account currency. Covers forex, JPY pairs, gold, silver, indices and crypto — where a 'pip' means something different each time.
Your position
What a pip is worth
A 10 pip move is USD 100.00 — win or lose.
- Per pip, one standard lot
- USD 10.00
- One pip on this instrument
- 0.0001
- Contract size (1 lot)
- 100,000
- Units you control
- 100,000
100,000 × 0.0001 × 1 = 10.00
Why a “pip” is not one thing
Most calculators assume a standard forex pair and quietly give you the wrong number everywhere else. A pip is simply the smallest conventional price step for that instrument, and it changes:
| Instrument | 1 pip | Contract size | Value per standard lot |
|---|---|---|---|
| Most forex pairs (EUR/USD) | 0.0001 | 100,000 | 10 quote currency |
| JPY pairs (USD/JPY) | 0.01 | 100,000 | 1,000 JPY |
| Gold (XAU/USD) | 0.01 | 100 oz | 1 USD |
| Silver (XAG/USD) | 0.001 | 5,000 oz | 5 USD |
| Indices (US30, NAS100) | 1 point | 1 per lot | 1 USD per point |
Index and crypto contract sizes vary between brokers more than forex does — check the symbol specification in MetaTrader (right-click the symbol → Specification) if your broker's numbers differ from the defaults here.
The 5-digit broker trap
Nearly every broker now quotes EUR/USD to five decimals — 1.08542. That last digit is a point, not a pip, and it is one tenth of a pip. A stop “300 away” on the MT4 order window is 30 pips, not 300. Get this backwards and every position you size is out by a factor of ten, which is the single most common way a 1% risk turns into 10%.
The same applies to JPY pairs quoted to three decimals, and to gold quoted to two: the final digit is a point. This calculator works in pips as defined in the table above.
When your account currency is not the quote currency
Pip value is first calculated in the currency the pair settles in — the second currency of the pair. Trading EUR/GBP on a USD account, one pip on a standard lot is 10 GBP, and what you actually gain or lose is 10 GBP converted to USD at the current rate. That is why this tool asks for the rate instead of assuming one: a calculator that hard-codes a conversion is wrong the moment the market moves, and it never tells you.
For an INR or AED account the same rule applies, which is why traders on those accounts often find their MetaTrader profit does not match a US-centric calculator.
Pip value questions
How do you calculate pip value?+
Pip value = contract size × pip size × lots, calculated in the pair's quote currency, then converted to your account currency at the current rate. For one standard lot of EUR/USD that is 100,000 × 0.0001 = 10 USD per pip.
What is the pip value of one standard lot?+
For most forex pairs, 10 units of the quote currency per pip on a standard lot of 100,000. For JPY pairs a pip is 0.01, giving 1,000 JPY per standard lot. For gold at 100 ounces per lot a 0.01 move is 1 USD, and for indices one point is usually 1 USD per lot.
What is the pip value for XAUUSD gold?+
With the common 100-ounce contract, one pip on gold is a 0.01 price move and is worth 1 USD per standard lot — so 0.10 USD on a 0.10 lot and 0.01 USD on a micro lot. Some brokers use a different contract size, so check the symbol specification in MetaTrader.
Why is my broker's pip different from my calculator's?+
Almost always because of 5-digit pricing. A five-decimal EUR/USD quote makes the last digit a point, which is one tenth of a pip, so a stop shown as 300 is 30 pips. Sizing from points instead of pips inflates every position by a factor of ten.
Does pip value change if my account is not in USD?+
Yes. Pip value is fixed in the pair's quote currency but converted into your account currency at the current exchange rate, so it moves as that rate moves. A EUR/GBP pip is always 10 GBP per standard lot, but what a USD or INR account gains depends on today's rate.
Is this pip value calculator free?+
Yes, free with no sign-up and no limits. It runs entirely in your browser, so nothing you type is sent anywhere.
The guide behind this tool
Pip value is half of position sizing — this is the other half, with worked examples for EURUSD, gold and indices.
Read the guide →Other free tools
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More on risk and performance in the CopyConnectFX blog, or see the full feature guide.
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