Short answer
The pip calculator works from a simple rule: on pairs ending in USD, one pip is worth USD 10 per standard lot, USD 1 per 0.10 lot and USD 0.10 per 0.01 lot. On pairs starting with USD, divide by the price: at a USDJPY price of 150.00, one pip on one lot is 1,000 ÷ 150 = USD 6.67.
Where is the pip in a price?
Most pairs: the 4th decimal place
EUR/USD1.0850
1.08500 to 1.08510 = 1 pip
Yen pairs: the 2nd decimal place
USD/JPY151.250
151.250 to 151.260 = 1 pip
On this page
Pip calculator formulas by pair type
The pip calculator starts from two conventions: a pip is 0.0001 on most pairs and 0.01 on yen pairs, and one standard lot is 100,000 units of the first currency in the pair. For the background, see what is a pip.
| Pair type | Examples | Pip value in USD |
|---|---|---|
| USD second | EURUSD, GBPUSD, AUDUSD, NZDUSD | lots × 10 |
| USD first, not yen | USDCHF, USDCAD | lots × 10 ÷ price |
| USD first, yen | USDJPY | lots × 1,000 ÷ price |
Worked examples
| Position | Working | Pip value |
|---|---|---|
| EURUSD, 0.25 lots | 0.25 × 10 | USD 2.50 |
| GBPUSD, 0.01 lots | 0.01 × 10 | USD 0.10 |
| USDCAD, 0.50 lots, price 1.3700 | 0.50 × 10 ÷ 1.37 | USD 3.65 |
| USDJPY, 0.10 lots, price 150.00 | 0.10 × 1,000 ÷ 150 | USD 0.67 |
The prices in the table are examples. For pairs that start with USD, the calculator asks for the current price; copy it from your platform.
How to use the result
Pip value × your stop loss in pips = what you lose if the stop is hit, before spread and commission. If that figure is more than you’re prepared to lose, the position is too big. Every pip the price moves against you costs this amount, and leverage makes it possible to open positions that are large for your balance.
The lot size calculator does the same sum the other way round: you give it the amount you’re prepared to lose and your stop, and it gives you the size.
Cross pairs
Pairs without USD, such as EURGBP, aren’t in the calculator yet. Their pip value comes out in the second currency (pounds, for EURGBP), and you convert it to dollars at the current rate. For one standard lot of EURGBP, that is GBP 10 per pip, multiplied by the GBPUSD price.
Cent accounts
On a cent account where one cent lot equals 0.01 standard lots, balances show in US cents (a USD 5 deposit shows as 500 USC). On pairs ending in USD:
- 1 cent lot = USD 0.10 per pip = 10 USC per pip
- 10 cent lots = USD 1 per pip = 100 USC per pip
To use the calculator for a cent account, divide your cent lots by 100 and enter the result as standard lots. Our cent account guide explains the conversion in more detail.
Gold
Gold works differently: one standard lot is usually 100 ounces, and sources disagree on what a gold “pip” is. Our gold pip value guide compares the definitions, and the gold lot size calculator works from a stop distance in dollars instead. For the margin a position needs, use the margin calculator.
On Exness accounts
- Standard, Pro, Raw Spread and Zero accounts use standard lots, so the table above applies as it is.
- On Standard Cent, one cent lot equals 0.01 standard lots and balances show in USC, so use the cent-account conversion above.
Check pip values on a demo account by opening a small position and watching how much your equity changes for each pip.
Common questions
How much is one pip on EURUSD?
USD 10 per standard lot, USD 1 per 0.10 lot and USD 0.10 per 0.01 lot. The same holds for every pair where USD is the second currency.
Why does the pip value change on USDJPY?
Because USD is the first currency, a pip is worth a fixed amount of yen, not dollars. Its dollar value changes as the USDJPY price moves, so the calculator needs the current price.
What is a pip worth on a cent account?
On a cent account where one cent lot equals 0.01 standard lots, one cent lot on a pair ending in USD is worth 10 US cents (USD 0.10) per pip.