Pip value calculator
The value of one pip or index point for any lot size, in your account currency — forex, JPY pairs, metals, indices and crypto.
How pip value is calculated
A pip is the price step a stop or a target is counted in. Its value in money depends on four numbers, and the calculator multiplies them:
pip value = contract size × pip size × lots × rate (quote currency → account currency)
- Contract size — units of the instrument in one lot: 100,000 for a currency pair, 100 ounces for gold, 5,000 ounces for silver, 1 per point for an index, 1 coin for crypto.
- Pip size — 0.0001 for most pairs, 0.01 for JPY pairs, 0.10 for gold, 0.01 for silver, 1 point for indices, bitcoin and ether.
- Lots — the size you enter; the widget also shows 1.00, 0.10 and 0.01 lots side by side.
- Rate — how many units of your account currency one unit of the quote currency buys. It is 1 when the instrument is priced in your account currency.
It also shows the value of a full 1.0 move in price for the lot size entered — useful for gold, where a $1.00 move on one lot is $100, and for indices, where a 1.0 move is one point.
| Instrument | Pip or point | Value per 1.0 lot |
|---|---|---|
| EURUSD, GBPUSD, AUDUSD, NZDUSD | 0.0001 | $10 |
| USDJPY at 150.00 | 0.01 | ¥1,000, about $6.67 |
| XAUUSD, 100 oz | 0.10 | $10 |
| XAGUSD, 5,000 oz | 0.01 | $50 |
| NAS100, SPX500, 1 per point | 1 point | $1 |
| GER40, €1 per point | 1 point | €1, about $1.14 (estimate) |
| BTCUSD, 1 coin | 1 point | $1 |
Worked examples
EURUSD on a USD account, 0.35 lots: 100,000 × 0.0001 × 0.35 × 1 = $3.50 per pip. A 20-pip stop at that size costs $70.
USDJPY on a USD account at 150.00, one lot: 100,000 × 0.01 = ¥1,000 per pip, and ¥1,000 ÷ 150 = $6.67. The pair's own price is the conversion rate, so the dollar value moves with USDJPY: at 157.14 the same pip is $6.36.
Gold, 0.20 lots: 100 × 0.10 × 0.20 = $2 per pip, and a $1.00 move is $20. EURUSD on a GBP account, one lot: the $10 pip has to become pounds. Without a typed rate the widget uses the reference GBPUSD rate of 1.3240 from 27 September 2026, so $10 ÷ 1.324 = £7.55, labelled an estimate. Type today's rate for an exact number.
Account currency and conversion
Three cases cover every instrument. If the quote currency is your account currency — EURUSD or gold on a USD account — the rate is 1. If your account currency is the pair's base — USDJPY on a USD account, EURUSD on a euro account — the entry price converts, so type a realistic price. In every other case type the rate yourself, as the value of one unit of the quote currency in your account currency (for yen on a USD account 1 ÷ USDJPY, not the USDJPY quote); otherwise the widget falls back to the reference rates and marks the result as an estimate. Everything runs in your browser and nothing is sent to a server.
From pip value to position size
Pip value is half of the sizing calculation: lots = risk money ÷ (stop in pips × pip value per lot). The position size calculator does that step for you and rounds down to 0.01, with presets for gold and EURUSD. More on the logic in how to calculate position size.
Frequently asked questions
Why is a pip on USDJPY not $10?
Because a JPY pair is quoted in yen: one pip on one lot is ¥1,000, and its dollar value is ¥1,000 divided by the USDJPY price — about $6.67 at 150.00.
Is a pip on gold 0.01 or 0.10?
Both conventions exist. This calculator uses 0.10, so one pip on a 100-ounce lot is $10. Platforms that call 0.01 a pip show $1 per pip per lot for the same contract — the money per dollar of movement is identical.
Does pip value change during a trade?
Only when a conversion is involved. EURUSD on a USD account is always $10 per lot, while USDJPY on a USD account, or any pair on an account in a third currency, changes slightly with the exchange rate.
Is my data sent anywhere?
No. The calculator runs entirely in your browser; no request leaves the page.