Pip Calculator

1. Enter your position size in lots.
2. Choose the lot type and the pip size for the pair.
3. Read the pip value in the quote currency, the value per standard lot and your position units.

Each output helps you size and manage a trade:

A pip, short for percentage in point, is the smallest standard unit by which a currency pair price moves. For most pairs it is the fourth decimal place, so a move from 1.1050 to 1.1051 is one pip. For pairs quoted against the Japanese yen, a pip is the second decimal place instead, because those prices are much larger numbers.

Pips let traders talk about price moves and profit in a consistent way, regardless of the pair. The money a pip is worth, though, depends on how large your position is, which is exactly what a pip calculator works out.

It multiplies the pip size by the number of currency units in your position.

A standard lot is 100,000 units of the base currency, a mini lot is 10,000 and a micro lot is 1,000. Multiplying your lots by the units per lot gives the position size, and multiplying that by the pip size, usually 0.0001, gives the value of one pip in the quote currency.

1. Turn your lots into currency units using the lot type.
2. Multiply the units by the pip size for the pair.
3. Read the pip value in the quote currency.

To convert that value into your account currency, multiply by the current exchange rate between the quote and account currencies.

Trade one standard lot of a pair like EUR/USD. That is 100,000 units, and the pip size is 0.0001, so the pip value is 0.0001 x 100,000 = 10 in the quote currency, US dollars here.

Trade five mini lots instead, which is 50,000 units, and each pip is worth 0.0001 x 50,000 = 5. Ten micro lots, 10,000 units, give a pip value of just 1, which is why micro lots suit smaller accounts.

For a yen pair the pip size is 0.01, so one standard lot is worth 0.01 x 100,000 = 1,000 yen per pip, which converts to a similar dollar value once you apply the exchange rate.

The lot type sets how many currency units you control, and so the pip value.

Smaller lots mean a smaller pip value and less risk per pip, which is why beginners often start with micro lots. To see risk as a percentage of an account, the position size calculator is the natural next step.

Three things set the pip value in the quote currency.

Position Size

More lots mean more units, so the pip value scales directly with how much you trade.

The Pair and Pip Size

Most pairs use a pip size of 0.0001, but yen pairs use 0.01, which changes the arithmetic.

The Quote Currency

The pip value comes out in the quote currency, so a EUR/USD pip is in dollars and a EUR/GBP pip is in pounds.

Your Account Currency

To spend or risk the pip value, convert it to your account currency at the current exchange rate.

Sizing a Trade

Know the money at stake per pip before you enter, so a stop-loss in pips becomes a figure in currency.

Managing Risk

Combine pip value with your stop distance to keep the risk on a trade within your limit.

Comparing Lot Sizes

See how standard, mini and micro lots change the value of each pip for the same pair.

1. Using the Wrong Pip Size for Yen Pairs

Yen pairs use 0.01, not 0.0001. Using the wrong one is off by a factor of a hundred.

2. Forgetting the Currency Conversion

The pip value is in the quote currency. Convert to your account currency to know your real risk.

3. Confusing Lots and Units

A standard lot is 100,000 units. Enter lots, and let the calculator work out the units.

4. Ignoring Leverage and Margin

Pip value is separate from margin. Trading more lots raises both the pip value and the margin required.

5. Treating Pip Value as Profit

Pip value is the money per pip; profit also depends on how many pips the price moves.

The pip value in the quote currency is exact, but turning it into your account currency needs a live rate.

A pip is the smallest standard price move in a currency pair, usually the fourth decimal place, or the second for yen pairs. It is how traders measure price moves.

Multiply the pip size by your position units. For one standard lot, that is 0.0001 x 100,000 = 10 in the quote currency. This calculator does it for you.

For one standard lot of a typical pair, about 10 in the quote currency. A mini lot is about 1 and a micro lot about 0.10 per pip.

For pairs quoted against the yen, a pip is the second decimal place, a pip size of 0.01, because yen prices are much larger numbers.

A lot is a bundle of currency units: a standard lot is 100,000, a mini 10,000 and a micro 1,000. You trade in lots, which the calculator turns into units.

No, it is in the quote currency of the pair. To get your account currency, multiply by the current exchange rate between the two.

Multiply the pip value by your stop-loss distance in pips to get the money at risk on a trade, then keep that within your risk limit.

No. Pip value depends on position size, not leverage. Leverage affects the margin you must post, not the value of each pip.

No. The calculation runs in your browser, and nothing you enter is sent anywhere unless you Save a result, which stays on this device only.

• Percentage in point (Wikipedia).
• Foreign exchange market (Wikipedia).
• How to work out a percentage (Maths Is Fun).