Pip value calculator

One pip, in money. Pick the instrument and the lot size and see what each pip is worth per standard, mini and micro lot, and what a 10, 50 or 100-pip move does at your size.

Fill in the form to see the result.

Educational arithmetic on the figures you enter. Example prices are placeholders, not live quotes; contract sizes and pip definitions vary by broker. Not financial advice.

How it works

A pip is the smallest standard price step of an instrument; its money value depends on how many units one lot controls:

pip value per lot = pip size × contract size pip value = pip value per lot × lots (if the quote currency is not USD: ÷ or × the conversion rate)

Gold: 0.10 × 100 oz = $10 per pip per lot. EUR/USD: 0.0001 × 100,000 = $10. USD/JPY: 0.01 × 100,000 = ¥1,000, which is about $6.67 at 150.00. Indices usually run $1 per point per lot but that depends on the broker's contract size, so the calculator carries a note for them.

Pip or point?

Gold is quoted to two decimals. Most traders and the DGCPUBLIC journal call 0.10 one pip; some platforms call 0.01 a pip (strictly, a point). Both are fine as long as your stop, your target and your pip value use the same unit. The pip size selector switches between them and the result updates.

Worked example: gold

Gold, 0.10 lots, pip size 0.10:

pip value per lot = 0.10 × 100 = $10 pip value = 10 × 0.10 lots = $1.00 per pip

A move from 4,500.00 to 4,510.00 is 100 pips, so it is worth $100 at 0.10 lots, $10 at 0.01 lots and $1,000 at a full lot. Switch the pip size to 0.01 and the same move reads as 1,000 points at $0.10 each; the money is identical.

USD/JPY at 0.10 lots: 0.01 × 100,000 × 0.10 = ¥100 per pip, which the calculator converts to about $0.67 using the rate you enter.

FAQ

Questions traders ask

What is a pip in gold trading?

Gold (XAUUSD) is quoted in US dollars per troy ounce to two decimals, for example 4,500.25. Most traders call a move of 0.10 one pip, so a $1.00 move is 10 pips. With a standard 100 oz contract one pip is worth $10 per lot, $1 per mini lot (0.10) and $0.10 per micro lot (0.01). Some brokers count 0.01 as a pip; the calculator supports both definitions.

What is the difference between a pip and a point?

A point is the last decimal your broker quotes; a pip is the conventional unit traders use, which for most forex pairs is the fourth decimal (0.0001) and for gold is usually 0.10. On a five-decimal EUR/USD quote a pip is ten points. Confusion between the two is the most common reason a stop turns out ten times bigger or smaller than intended, so check the unit before you size a trade.

How much is one pip on USD/JPY or other non-USD quoted pairs?

For pairs quoted in yen, Canadian dollars, francs or pounds the pip value is fixed in the quote currency and floats in USD. USD/JPY: 0.01 × 100,000 = ¥1,000 per lot per pip, which is ¥1,000 ÷ 150 ≈ $6.67 at a rate of 150.00. The calculator asks for that one conversion rate and shows the result in your account currency.

Does the pip value change with the gold price?

No. For any instrument quoted in USD the pip value is fixed by pip size and contract size: gold is $10 per pip per lot whether the price is 2,000 or 4,500. What does change with price is the notional value of the position and therefore the margin, which the margin calculator covers.

How do I find my broker's contract size?

In MT5 or MT4 right-click the symbol in Market Watch and open Specification; the contract size, tick size and tick value are listed there. If they differ from the defaults here, choose Custom instrument and enter them. Indices and crypto CFDs vary the most between brokers.

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