Pip Value Calculator for Forex Pairs

What a pip is worth

A pip is the standard unit of price movement in a currency pair: the fourth decimal place for most pairs and the second for yen and forint pairs. Its money value depends on three things: how many units you hold, the pip size, and the exchange rate between the pair's quote currency and your account currency.

pip value (quote ccy)   = pip size × units
pip value (account ccy) = pip value (quote ccy) × (quote → account rate)

Three cases that cover every pair

The account currency is the quote currency

With a USD account trading EURUSD, GBPUSD or AUDUSD, one pip on a standard lot is always 10 USD. No conversion is involved, which is why these pairs are the easiest to size.

The account currency is the base currency

With a USD account trading USDJPY, one pip is 1,000 yen per standard lot. Dividing by the USDJPY price converts it to dollars, so a higher USDJPY means each pip is worth slightly less in dollars.

Neither currency matches the account

For crosses such as GBPJPY in a USD account, or anything in a ZAR or EUR account, the pip is first valued in the quote currency and then converted with a third rate. This is the case where traders most often mis-size a trade, because the pip value can be far from the familiar 10-dollar figure.

Pips, pipettes and points

Most brokers quote five decimals on majors (three on yen pairs). The extra digit is a pipette, one tenth of a pip. MetaTrader calls the smallest price step a point, so a 50-pip stop shows as 500 points in the platform. Mixing the two units is a common way to end up ten times larger or smaller than intended.

Conversion rates on this page come from the European Central Bank reference rates for 2026-10-01. They are refreshed with every site build and are fine for planning, but your broker values open positions with live prices.