TradeBB TRADING TOOLS
Pip Calculator
Pick a pair and a lot size to see what one pip is worth, in your account's currency. Add a number of pips to see what that move makes or loses.
A pip is the standard unit for how far a currency price moves: 0.0001 on most pairs, 0.01 on yen pairs. Pip value is what that move is worth in money, and it depends on the pair, your lot size and your account's currency.
The formula
How to calculate pip value
Pip value = pip size × number of units, converted into your account's currency.
- When the US dollar is the second currency (EUR/USD, GBP/USD, AUD/USD): one standard lot is 100,000 units, so 0.0001 × 100,000 = $10 per pip. No conversion needed for a dollar account.
- When the US dollar is first (USD/JPY, USD/CAD): the pip is worth 1,000 yen or 10 Canadian dollars per lot, so divide by the price. At USD/JPY 150.00, that's 1,000 ÷ 150 = $6.67 per pip.
- Cross pairs (EUR/GBP, GBP/JPY): work out the pip in the second currency, then convert it to yours. On EUR/GBP that's £10 per lot; at GBP/USD 1.27 it's $12.70.
Pip value scales with size: half a lot is half the value, 0.01 lots is a hundredth. To see what a whole trade made after commission and swap, use the forex profit calculator.
Pips and points
Pip, pipette or point?
Most brokers quote EUR/USD to five decimals, like 1.08534. That last digit is a pipette, a tenth of a pip. MT4 and MT5 call it a point, so on these pairs:
- 1 pip = 10 points (0.0001 = 10 × 0.00001)
- A 20-pip stop shows as 200 points in your platform
- On yen pairs quoted to three decimals, 1 pip (0.01) is also 10 points (0.001)
If a number looks ten times too big, it's usually points where you expected pips.
Pip value table
Pip values for common pairs
For a US dollar account, at the prices shown:
| Pair | Price used | 1 lot | 0.10 lot | 0.01 lot |
|---|---|---|---|---|
| EUR/USD, GBP/USD, AUD/USD, NZD/USD | any | $10.00 | $1.00 | $0.10 |
| USD/JPY | 150.00 | $6.67 | $0.67 | $0.07 |
| USD/CAD | 1.3800 | $7.25 | $0.72 | $0.07 |
| USD/CHF | 0.8800 | $11.36 | $1.14 | $0.11 |
| EUR/GBP | GBP/USD 1.2700 | $12.70 | $1.27 | $0.13 |
| GBP/JPY, EUR/JPY | USD/JPY 150.00 | $6.67 | $0.67 | $0.07 |
Pairs where the dollar isn't second change value as their prices move. Use the calculator with today's price for an exact number.
Gold
What a pip is worth on gold
Gold has no single pip. Some platforms call a $0.01 move a pip, others a $0.10 move. One lot is usually 100 ounces, so:
| Lot | $0.01 move | $0.10 move | $1.00 move |
|---|---|---|---|
| 1.00 | $1 | $10 | $100 |
| 0.10 | $0.10 | $1 | $10 |
| 0.01 | $0.01 | $0.10 | $1 |
So at 0.01 lots, a "pip" on XAU/USD is worth either 1 cent or 10 cents, depending on which your platform means. The calculator shows both, plus the value of a $1 move, so you can match the one your platform uses. If your broker's gold contract isn't 100 ounces, change it in the calculator. To size a gold trade from your stop, use the XAUUSD lot size calculator.
Indices
Index CFDs: points, not pips
US30, NAS100 and other index CFDs move in points, and what a point is worth depends on your broker's contract. One lot might be $1 a point at one broker and $10 at another.
Check it once: in MT4 or MT5, right-click the symbol in Market Watch and choose Specification. Enter that value in the calculator, and it shows what a point is worth at your size and what a move of any number of points makes or loses. Trading index futures like ES or NQ instead? Use the futures calculator.
Account currency
When your account isn't in dollars
Pip value lands in your account's currency. If your account is in pounds, a $10 pip on EUR/USD is worth less in pounds: at GBP/USD 1.27, it's $10 ÷ 1.27 = £7.87.
Pick your account currency in the calculator and enter the one exchange rate it asks for. When the pair's second currency is the same as your account's, no rate is needed: EUR/GBP in a pound account is simply £10 per lot.
Pips vs profit
A trade can win pips and still lose money
Pips measure the price move. Your result also pays commission and, if you hold overnight, swap. On small wins, those can be bigger than the move itself.
Here's a sample GBP/USD trade: 0.50 lots, held four nights. It closed 2.2 pips up, worth $11.00. Commission was $3.50 and swap came to $9.60, so the trade lost $2.10.
- Pips on each forex trade — next to the trade's result in money
- Commission and swap — broken out, so you see what each one cost
- Net P&L — what the trade actually made after both
If your small winners keep turning into small losses, this is where to look. A trading journal shows it trade by trade. For how swap is charged, see what swap is in forex.
FAQ
Frequently asked questions
How much is 1 pip worth?
On EUR/USD and other pairs where the US dollar is second, $10 per standard lot, $1 per mini lot and $0.10 per micro lot. On other pairs it depends on the price, and in a non-dollar account it's converted into your currency.
What is 100 pips equal to?
On EUR/USD, 100 pips is a move of 0.0100, for example from 1.0800 to 1.0900. At 1 lot that's $1,000; at 0.10 lots, $100; at 0.01 lots, $10.
How do I calculate pip value?
Multiply the pip size by the number of units, then convert into your account's currency if needed. For EUR/USD at 1 lot: 0.0001 × 100,000 = $10.
What is a pip on gold?
It depends on the platform: some count a $0.01 move, others $0.10. At 0.01 lots on a 100-ounce contract, that's 1 cent or 10 cents. The calculator shows both.
Is a pip the same as a point?
Not on five-decimal quotes. In MT4 and MT5, a point is the last decimal, so 1 pip is 10 points.
Why is my pip value different from the pip calculator's?
Usually the price or exchange rate has moved, your account isn't in dollars, or your broker's contract size is different. Enter today's rate and your broker's contract size and the numbers should match.
Know what a pip is worth. Then see what your trades kept.
Bring in your trades and see each forex trade's pips next to its result after commission and swap.