What is a Pip?
A pip (percentage in point) is the smallest standardised price move in a forex quote. For most pairs, 1 pip = 0.0001. For JPY pairs, 1 pip = 0.01. A pipette is 1/10th of a pip.
1. Select Currency Pair
🇪🇺🇺🇸
EUR/USD
Euro / US Dollar
1.1805
1 pip = 0.0001
4 decimal places
2. Trade Parameters
100,000 × 1 = 100,000 units
1 pip = 0.0001 (EUR/USD)
3. Calculation Results
EUR/USD · Standard · 1 lot · 10 pips
Total Profit / Loss
+100.00 USD
+10 pips movement
Pip Value / Lot
10.0000 USD
Total Pip Value
10.0000 USD
Pip Value (Quote)
10.0000 USD
Contract Size
100000 units
Total Units
100000 units
Pip Size
0.0001
4. Calculation Formula
Step 1 — Pip Value in Quote Currency
Pip Value = Pip Size × Contract Size
= 0.0001 × 100,000 (Standard) = 10.0000 USD
Step 2 — Profit / Loss
P&L = Pip Value/Lot × Lots × Pips
= 10.0000 × 1 × 10= 100.00 USD
Exchange rates sourced from the European Central Bank (ECB) via frankfurter.app · Last updated: 3/2/2026, 7:24:35 AM
Lot Types Explained
A lot is a standardised trade size. Standard = 100,000 units · Mini = 10,000 · Micro = 1,000 · Nano = 100. The pip value in money scales proportionally with the contract size.
How Pip Value is Calculated
Pip Value = Pip Size × Contract Size. For USD-quoted pairs (e.g. EUR/USD), one standard lot pip = $10. For other pairs the value varies with the exchange rate and is converted to your account currency.
Educational Guide
How Pip Value is Calculated for Major Forex Pairs
Understanding pip value is fundamental to forex risk management. The monetary value of a single pip depends on three variables: the currency pair, the lot size, and the current exchange rate. Below is a complete breakdown for each of the seven major pairs.
The Universal Formula
Pip Value = Pip Size × Contract Size ÷ Exchange Rate
- Pip Size — 0.0001 for most pairs; 0.01 for JPY pairs
- Contract Size — 100,000 units (Standard), 10,000 (Mini), 1,000 (Micro), 100 (Nano)
- Exchange Rate — only needed when converting to an account currency different from the quote currency
EUR/USD — Euro / US Dollar
EUR/USD is the world's most traded currency pair, accounting for roughly 28% of daily forex volume. The quote currency is USD, so pip values are already expressed in US dollars — no conversion needed for USD accounts.
Pip size: 0.0001
Standard lot (100,000 units): 0.0001 × 100,000 = $10.00 per pip
Mini lot (10,000 units): $1.00 per pip
Micro lot (1,000 units): $0.10 per pip
GBP/USD — British Pound / US Dollar
Known as "Cable", GBP/USD is the third most traded pair globally. Like EUR/USD, the quote currency is USD, so pip values are direct in dollar terms. GBP/USD typically has higher volatility than EUR/USD, meaning larger pip swings per trade.
Pip size: 0.0001
Standard lot (100,000 units): 0.0001 × 100,000 = $10.00 per pip
Mini lot (10,000 units): $1.00 per pip
Micro lot (1,000 units): $0.10 per pip
USD/JPY — US Dollar / Japanese Yen
USD/JPY is the second most traded pair globally. Because the Japanese Yen trades at a much lower unit value, pip size is 0.01 (not 0.0001). The pip value is expressed in JPY and must be divided by the current USD/JPY rate to convert to USD for non-JPY accounts.
Pip size: 0.01
Standard lot (100,000 units): 0.01 × 100,000 = ¥1,000 per pip
Convert to USD (at ~150.00): ¥1,000 ÷ 150.00 ≈ $6.67 per pip
Mini lot: ≈ $0.67 per pip
USD/CHF — US Dollar / Swiss Franc
Known as the "Swissie", USD/CHF is a safe-haven pair. The quote currency is CHF, so pip value is first calculated in Swiss Francs and then converted to USD using the inverse of the USD/CHF rate.
Pip size: 0.0001
Standard lot: 0.0001 × 100,000 = CHF 10 per pip
Convert to USD (at ~0.89): CHF 10 ÷ 0.89 ≈ $11.24 per pip
AUD/USD — Australian Dollar / US Dollar
The "Aussie" is heavily influenced by commodity prices (particularly iron ore and gold) and Chinese economic data. The quote currency is USD, so pip values are direct in dollar terms, identical in structure to EUR/USD.
Pip size: 0.0001
Standard lot (100,000 units): 0.0001 × 100,000 = $10.00 per pip
Mini lot: $1.00 per pip · Micro lot: $0.10 per pip
USD/CAD — US Dollar / Canadian Dollar
The "Loonie" is strongly correlated with crude oil prices due to Canada's oil exports. The quote currency is CAD, so pip value is first expressed in Canadian dollars and then converted to USD.
Pip size: 0.0001
Standard lot: 0.0001 × 100,000 = CAD 10 per pip
Convert to USD (at ~1.36): CAD 10 ÷ 1.36 ≈ $7.35 per pip
NZD/USD — New Zealand Dollar / US Dollar
The "Kiwi" is the seventh major pair and tends to move in tandem with AUD/USD. The quote currency is USD, so pip values are direct in dollar terms. NZD/USD typically has lower liquidity than AUD/USD, resulting in slightly wider spreads.
Pip size: 0.0001
Standard lot (100,000 units): 0.0001 × 100,000 = $10.00 per pip
Mini lot: $1.00 per pip · Micro lot: $0.10 per pip
Quick Reference — Standard Lot Pip Values (USD Account)
| Pair | Pip Size | Standard Lot | Mini Lot | Micro Lot |
|---|---|---|---|---|
| EUR/USD | 0.0001 | $10.00 | $1.00 | $0.10 |
| GBP/USD | 0.0001 | $10.00 | $1.00 | $0.10 |
| USD/JPY | 0.01 | ≈$6.67 | ≈$0.67 | ≈$0.07 |
| USD/CHF | 0.0001 | ≈$11.24 | ≈$1.12 | ≈$0.11 |
| AUD/USD | 0.0001 | $10.00 | $1.00 | $0.10 |
| USD/CAD | 0.0001 | ≈$7.35 | ≈$0.74 | ≈$0.07 |
| NZD/USD | 0.0001 | $10.00 | $1.00 | $0.10 |
* JPY, CHF, and CAD values are approximate and vary with the live exchange rate. Use the calculator above for precise real-time values.
Why Pip Value Matters for Risk Management
Knowing your pip value lets you calculate exactly how much money you risk per trade. If you set a 30-pip stop-loss on a EUR/USD standard lot, you are risking exactly $300. This allows you to size positions precisely to never risk more than your defined percentage per trade (e.g. 1% of account).
USD-Quoted vs. Non-USD-Quoted Pairs
Pairs where USD is the quote currency (EUR/USD, GBP/USD, AUD/USD, NZD/USD) always have a fixed pip value of $10 per standard lot regardless of price. Pairs where USD is the base (USD/JPY, USD/CHF, USD/CAD) have a variable pip value that changes with the exchange rate.
☕
Find this tool useful?
This calculator is free and ad-free. If it saved you time, consider buying me a coffee — it helps keep the tool running and improving.