Pip value calculator
What one pip is worth on a position, in the currency your account is held in.
- Standard lot (1.0)
- Mini lot (0.1)
- Micro lot (0.01)
- One pip
- Contract size
What a pip is
A pip is the standard unit of price movement for a currency pair: 0.0001 for pairs quoted to four decimal places, and 0.01 for pairs where the Japanese yen is the quote currency. Brokers quote a fifth decimal, the pipette or point, which is a tenth of a pip. For gold the calculator treats 0.01 dollars as a pip and for silver 0.001, which is how most brokers present them, though conventions vary and some count a whole cent.
How the value is calculated
One pip on one lot is worth the pip size multiplied by the contract size, in the quote currency. For EUR/USD that is 0.0001 times 100,000, or 10 US dollars. For USD/JPY it is 0.01 times 100,000, or 1,000 yen. The calculator then converts that into your account currency at the reference rate, or at the price you type in, so a euro account sees the EUR/USD pip as roughly 8.60 euros rather than 10 dollars.
The value scales with the position: a mini lot is a tenth of a standard lot and a micro lot a hundredth, so the same pip is worth 1 dollar and 10 cents respectively on EUR/USD.
Why it matters
Every other calculation, position size, profit and loss, and the cost of a spread, is a multiple of pip value. A 1.2 pip spread on EUR/USD costs 12 dollars per standard lot to open, and a 30 pip move on a mini lot is 30 dollars. The spread comparison shows the published spreads by broker; this tool tells you what they cost.
Other tools
Reference rates are the European Central Bank's daily fix of 2026-09-03, against the US dollar, and are used to convert between currencies. They are not a live price and your broker's rate will differ.