Pip Value Explained: How to Calculate It for Any Pair

Pip value is how much money you make or lose when price moves one pip at a given position size. On pairs quoted in USD it is fixed: $10 per standard lot. On the rest it depends on the exchange rate. Knowing this number is what turns a 30-pip stop into real dollars.

What a pip is

It is the fourth decimal of the price on almost every pair: if EUR/USD moves from 1.1225 to 1.1235, it has moved 10 pips. On yen pairs it is the second decimal: 157.67 to 157.77 is also 10 pips. Many brokers show one more decimal (the “pipette”), a tenth of a pip.

Pip value per standard lot

For a mini lot (0.1) divide by 10; for a micro lot (0.01), by 100.

The formula

Pip value = pip size × units ÷ (exchange rate into your currency)

• The pair ends in your currency (EUR/USD, dollar account): 0.0001 × 100,000 = $10.
• The pair starts with your currency (USD/JPY, dollar account): 0.01 × 100,000 = ¥1,000, and 1,000 ÷ 157.67 = $6.34.
• Neither (EUR/GBP, dollar account): £10 converted at GBP/USD (1.3201) = $13.20.

Why it matters: from a stop in pips to risk in dollars

With a 30-pip stop and 0.5 lots on EUR/USD you risk 30 × 0.5 × $10 = $150. The same stop on USD/JPY would be $95.13: that is why using the same lot on every pair is a mistake. Pip value calculator · lot size guide.

ECB reference rates of October 2, 2026; your broker uses the live market price. Information only, not investment advice.

Common mistakes when working out pips

• Mixing up pips and pipettes. Many platforms quote EUR/USD to five decimals: the fifth is a pipette, a tenth of a pip. A 150-“point” stop on the platform is 15 pips.
• Forgetting the yen. On JPY pairs the pip is the second decimal (0.01), not the fourth. With USD/JPY at 150.00, one pip on a standard lot is worth ¥1,000, about $6.67.
• Not converting to your account currency. Pip value comes out in the second currency of the pair. If your account is in euros and you trade EUR/USD, the $10 per pip on one lot is about €9.09 with the euro at $1.10.
• Assuming gold works the same way. On XAU/USD each broker calls a different move a “pip” ($0.01 or $0.10). The safe way is to count in dollars per ounce: a 100-ounce lot makes or loses $100 for every dollar the price moves.

The pip value calculator does these conversions at the price you enter; the lot size calculator takes the next step: how many lots fit your risk.