Home / Trading & Investing / Forex pip value calculator
Forex pip value calculator
Work out what one pip is worth on your position, in your account currency. For any currency pair, gold and silver, and indices or other CFDs.
Important
We do not give financial advice, and we make no promises about returns. Our tools and calculators do not recommend trades, give signals or tell you what to buy or sell. They work only from the figures and rules you give them. We test and automate the strategy you bring us. Whether to trade it, and whatever it does in the market, is your decision and your risk.
Looking for Personal Independence Payment? This page is about trading. GOV.UK explains PIP.
Your stop or target distance.
Instrument details
Filled in from the instrument. Change them to match your broker if theirs differ.
Pips between two prices (optional)
Value per pip (GBP)
-
Value of 10 pips
-
Per lot
Working
Nothing you type is stored or sent anywhere. Exchange rates are filled in from the European Central Bank’s euro foreign exchange reference rates (ecb.europa.eu), published once a working day, for information only. Our own server fetches them, so your browser never contacts anyone else. Rates between two currencies other than the euro are worked out by us from the euro rates. They will differ from your broker’s live prices, so type your platform’s rate for exact figures.
How it works
- Pip value in the quote currency = pip size × position size in units
- Account in the quote currency (USD on EUR/USD): that is the answer
- Account in the base currency (EUR on EUR/USD): divide by the pair's price
- Any other account currency: convert at the exchange rate between the quote currency and your account currency
- Pips between two prices = (second price − first price) ÷ pip size
One lot is 100,000 units on a forex pair, 100 ounces on gold and 5,000 ounces on silver at most brokers. For indices, shares and crypto, contract sizes and pip sizes vary by broker, so the calculator lets you set both.
Spread betting works differently. Your stake is already the value per point: £2 a point is worth £2 for every point the price moves. Your provider sets what counts as a point on each market.
Questions
What is a pip?
The standard unit for price moves in forex. For most currency pairs it is 0.0001, the fourth decimal place. For pairs quoted in Japanese yen it is 0.01. Many platforms show one more digit, called a pipette, which is a tenth of a pip. You can enter fractions such as 2.5 pips.
How much is one pip worth on a standard lot?
A standard lot is 100,000 units. On a pair quoted in US dollars, such as EUR/USD, one pip is worth $10. In any other account currency it depends on the exchange rate, which is why the calculator asks for it.
Where does the exchange rate come from?
It is filled in from the European Central Bank's daily euro reference rates, which our own server fetches, so your browser never contacts anyone else. It is a once-a-day rate, not a live price. For exact figures, type the rate from your platform. You can type it either way round, for example GBP/USD or USD/GBP.
What counts as a pip on gold?
Brokers differ. Many treat 0.01 as a pip on XAU/USD, with a lot of 100 ounces, so one pip on one lot is $1. Others use 0.1. Check the contract specification on your platform and change the pip size and contract size to match.
Does pip value change?
Yes, whenever your account currency is different from the currency the pair is quoted in, because the exchange rate between them moves. On a pair quoted in your account currency it stays the same.
Does this calculator tell me what to trade?
No. It does arithmetic on the figures you enter. It does not recommend trades, give signals or judge whether a position is sensible.
What this is, and what it is not
This calculator carries out the arithmetic on the figures you enter. It does not choose trades, give signals or recommend any investment, and its output is not advice. BrightDragon Systems Ltd is not authorised or regulated by the Financial Conduct Authority and does not provide regulated financial services.
Trading carries risk and you can lose money. Leveraged products such as CFDs and spread bets can lose you more than you expect, quickly. Check every figure against your own platform before you trade.
More free trading & investment tools: all of them in one place.