How do you calculate pip value?
The formula is pip value = pip size x number of units, and the answer is in the pair's quote currency, the second one in its name. The pip size is 0.0001 for most pairs and 0.01 for pairs quoted in Japanese yen. If your account uses another currency, one more step converts the answer.
With the default inputs, one standard lot of EUR/USD is 100,000 euros. 0.0001 x 100,000 = 10, and because the quote currency is the US dollar, one pip is worth $10 to a dollar account. A 25-pip move is then worth $250. Change the size to mini lots and it falls to $1 a pip; micro lots, $0.10.
Pip value moves in a straight line with size: twice the units, twice the pip value. Only two other things change it: the pair's quote currency, and the exchange rate to your account currency when the two differ.
Pip value per lot: standard, mini and micro
The table gives pip values per lot type. The USD/JPY column assumes a price of 150 yen to the dollar, typed in as the rate, because a yen pip has to be converted before a dollar account can use it.
| Lot type | Units | EUR/USD, USD account | EUR/GBP, GBP account | USD/JPY in yen | USD/JPY in dollars at 150 |
|---|---|---|---|---|---|
| Standard | 100,000 | $10.00 | £10.00 | 1,000 JPY | $6.67 |
| Mini | 10,000 | $1.00 | £1.00 | 100 JPY | $0.67 |
| Micro | 1,000 | $0.10 | £0.10 | 10 JPY | $0.07 |
For a size between lot types, type the lots with decimals, such as 0.37, or switch Size in to units. The table under the result repeats this for whichever pair and rate you choose.
Pip value for USD/JPY and other yen pairs
On USD/JPY, EUR/JPY, GBP/JPY and AUD/JPY the pip is 0.01, so one standard lot is worth 1,000 yen a pip. A dollar account divides that by the USD/JPY price. At 150, 1,000 / 150 = $6.67 a pip; three mini lots are 30,000 units, or 300 yen a pip, which is $2.00.
That division is why the yen pip value drifts as the price moves while the EUR/USD pip value for a dollar account stays at exactly $10. Any pair whose quote currency is not your account currency behaves the same way. USD/CAD at 1.36, for example, gives a dollar account $7.35 a pip on one lot.
Pip value when your account is in pounds, euros or dirhams
Type one rate: 1 unit of your account currency = how many units of the quote currency. The pip value in the quote currency is divided by it. The page holds no prices, so it never fills that rate in.
- Pound account, EUR/USD. At 1 GBP = 1.27 USD, the $10 pip on a standard lot is worth £7.87, and a mini lot £0.79.
- Pound account, EUR/GBP. The pair is quoted in pounds, so a standard lot is £10 a pip with no rate needed. A pound account opens on this pair.
- Euro account, GBP/JPY. 2,500 units is worth 25 yen a pip. At 1 EUR = 162 JPY, that is €0.15 a pip.
- Dirham account, EUR/USD. At 1 AED = 0.2723 USD, one standard lot is worth AED 36.72 a pip.
Pip value for gold (XAUUSD) and silver
Platforms do not agree on what a pip on gold is, and the words pip and point can mean different price steps on different platforms. The second tab avoids the argument: it gives the value of a 0.01, 0.10 and 1.00 move, and you read off the one your platform means.
With a 100-ounce contract, one lot of gold is worth $1 per 0.01 move, $10 per 0.10 and $100 per 1.00. A 10.00 move on one lot is $1,000. Silver at 5,000 ounces a lot is worth $50 per 0.01 move and $5 per 0.001. If your platform states a different contract size, type it in and every figure scales with it.
Point value for US30, NASDAQ and other index CFDs
For an index CFD the value of a point is simply the contract size times the lots, in the currency the index is priced in. A contract size of 1 means $1 a point per lot, so 2 lots on US30 make $50 on a 25-point move, and 0.5 lots on NASDAQ make $0.50 a point.
Because index contract sizes vary between platforms, the same 25-point move can be worth very different amounts on two accounts holding the same number of lots. Copy the figure from your platform's specification. For an index priced in euros, pounds, yen or Australian dollars, choose the currency, and add the rate if your account differs.
Pip value for BTCUSD
A Bitcoin CFD at 1 bitcoin a lot is worth $1 for every 1.00 move in the price, per lot. Bitcoin moves in hundreds or thousands of dollars, so the move field matters more than the pip: 0.1 lots on a 1,000 move is worth $100. The chart under the result shows half, one, two and five times the move you enter.
The same arithmetic applies to coins held outright, where the value of a move is simply the coins times the move. For leveraged crypto positions, the crypto liquidation price calculator shows how far a move can go before the position is closed.
Does leverage change pip value?
No. Pip value depends on the size of the position, not on how it is funded. One standard lot of EUR/USD is worth $10 a pip whether the account allows 30:1 or 500:1. What leverage changes is the margin needed to open that lot, and therefore how many lots a given balance can hold.
Regulators in several regions cap the leverage offered to retail traders, and the caps differ by instrument. Those caps limit the size you can open, never the value of a pip on it. The leverage calculator shows how much of your equity a 1% move takes at your position size, and the forex margin calculator shows the margin.
Common pip value mistakes, and what this page leaves out
- Treating every pip as $10. That holds only for a standard lot of a pair quoted in US dollars, in a dollar account.
- Counting the fifth decimal as a pip. Many platforms quote a fractional pip, or pipette, so 0.00001 on EUR/USD is a tenth of a pip.
- Typing the rate upside down. The rate is 1 account currency in quote currency: for a pound account on EUR/USD, about 1.27, not 0.79.
- Using a pip on gold without checking the platform. Read the value per 0.01, 0.10 and 1.00 and match it to your platform's terms.
The page values a move; it does not add spread, commission or swap, and it does not track the exchange rate as it changes during a trade. To turn a pip value into a trade size, the lot size calculator divides your risk by the stop.
Glossary
Pip: the standard price step in forex, 0.0001, or 0.01 on yen-quoted pairs. Pipette: a tenth of a pip, the extra decimal many platforms show. Pip value: what one pip is worth for a given size. Point: on an index, a 1.00 move; on metals, platforms use the word differently. Quote currency: the second currency in a pair, in which pip value is first stated. Contract size: the units behind one lot of a CFD. Lot: 100,000 units of the base currency in forex.
Frequently asked questions
How much is 1 pip worth?
On one standard lot of a pair quoted in US dollars, such as EUR/USD, one pip is worth $10 to a dollar account. A mini lot is worth $1 and a micro lot $0.10. Other pairs and account currencies need a conversion.
What is the pip value of USD/JPY?
A pip on USD/JPY is 0.01, so one standard lot is worth 1,000 yen a pip. For a dollar account, divide by the USD/JPY price: at 150 that is $6.67 a pip.
How do I calculate pip value per lot?
Multiply the pip size by the units in one lot, 100,000 for forex. That gives the pip value in the quote currency. If your account is in another currency, divide by the rate from your account currency to the quote currency.
What is the pip value of gold (XAUUSD)?
With 100 ounces a lot, one lot is worth $1 per 0.01 move, $10 per 0.10 move and $100 per 1.00 move. Which of those your platform calls a pip varies, so check its terms and its contract size.
What is one point worth on US30 or NASDAQ?
It is the contract size times the lots. At a contract size of 1, a point is worth $1 per lot, so 2 lots gain or lose $50 on a 25-point move. Contract sizes differ by platform.
What is the pip value of BTCUSD?
At 1 bitcoin a lot, each 1.00 move in the price is worth $1 per lot. On 0.1 lots a 1,000 move is worth $100.
Does leverage change pip value?
No. Pip value depends on the size of the position. Leverage changes the margin the position needs, not what each pip is worth.
How do I find pip value in pounds?
Work out the pip value in the quote currency, then divide by the rate from pounds to that currency. On EUR/USD at 1 GBP = 1.27 USD, a standard lot's $10 pip is worth about 7.87 pounds.
Why do platforms show a fifth decimal?
The fifth decimal, or the third on yen pairs, is a pipette, a tenth of a pip. A move of 0.00010 on EUR/USD is one pip, not ten.
Is pip value the same as profit?
Pip value is the profit or loss per pip. Multiply it by the pips the price moves to get the result of a trade, before spread, commission and swap.
Courses behind pip values
Forex Trading Beginners Online Course
Beginner forex course covering how the forex market operates, currency pairs, pips, spreads, leverage, brokers, platforms, and risk management.
See what the course coversAdvance Forex Trading Online Course
Complete forex pathway covering price movement analysis, high-probability setups, risk management, trading psychology, and rule-based system development for serious learners.
See what the course coversCrypto Trading for Beginners Online Course
Step-by-step beginner program covering cryptocurrency basics, market structure, exchanges, wallets, trading methods, and chart analysis for new traders.
See what the course coversSources and review
Last reviewed 13 November 2026 by the NIFM Academy editorial team. Next review by 13 May 2027.
- Pip value arithmetic, pip value = pip size x units in the quote currency, divided by the visitor's rate from account currency to quote currency; the working is printed under every result. Checked 13 November 2026.
- Forex and CFD conventions, pip of 0.0001, or 0.01 on yen-quoted pairs; lots of 100,000, 10,000 and 1,000 units; metal, index and Bitcoin contract sizes vary by platform and are entered by the visitor. Checked 13 November 2026.