Pip value calculator
Find what one pip or point is worth in US dollars for the position and contract assumptions you enter.
Calculate pip value
Inputs stay in your browser. They are not saved or sent anywhere.
How it is calculated
A pip is the fourth decimal place of most currency pairs, 0.0001. When the Japanese yen is the quote currency it is the second decimal place, 0.01.
For indices, commodities and share CFDs, enter the point size from the contract specification. A platform point may differ from one whole index point or the minimum price movement. Check the definition before comparing results.
Value of one pip in the quote currency = lots × units per lot × pip size.
Converted to US dollars: when USD is the quote currency (EUR/USD, gold) the value is already in dollars. When USD is the base currency (USD/JPY, USD/CHF) divide by the price. When neither currency is USD, multiply by the rate you enter for the quote currency against the dollar.
Worked examples (illustrative)
Hypothetical prices, chosen to be round. They are not quotes.
EUR/USD, 1 lot: 1 × 100,000 × 0.0001 = 10 USD per pip, whatever the price.
USD/JPY, 1 lot at 150.00: 1 × 100,000 × 0.01 = 1,000 JPY per pip, and 1,000 ÷ 150.00 = 6.67 USD per pip.
What the calculator does not know
The calculator uses the contract size and pip or point size you enter. The forex defaults are conventional examples, not confirmed Arrow Trade terms. Check your account’s symbol specification in MetaTrader 5 before trading.
With fixed position and contract sizes, pip value is constant in the quote currency. Its US-dollar value changes with the conversion rate when the quote currency is not USD. Prices and rates entered here do not update automatically.
Questions
What is a pip?
The standard unit for a change in a currency pair’s price: 0.0001 for most pairs and 0.01 for pairs quoted in Japanese yen. A move in EUR/USD from 1.10000 to 1.10010 is one pip.
What is the fifth decimal place, then?
Many platforms quote one extra digit, often called a pipette or fractional pip. It is one tenth of a pip. The forex defaults use a full pip; check the pip size you enter.
Why is a USD/JPY pip worth less than 10 dollars in the example?
For the example’s 100,000-unit lot and 0.01 pip size, one pip is 1,000 yen. At the entered price of 150 yen per dollar, that is about 6.67 dollars.
Does pip value depend on leverage?
No. Pip value depends on position size and price. Leverage only changes how much margin the position needs.
Does the result include costs?
No. Spread, commission, swap and slippage are left out. The result shows the value of a price movement, not what a trade costs.
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