Pip Value Calculator
A pip value calculator shows what a one-pip price move is worth in your account currency for a given position. Pip value = lots × contract size × pip size, so on EURUSD 1 standard lot is worth $10 per pip.
How do you calculate pip value?
Pip value = lots × contract size × pip size, the money that one pip of price movement is worth on your position. The result is in the quote currency, the second currency of the pair. If your account is held in a different currency, the calculator converts it at the exchange rate you enter.
For any move, the profit or loss in money is the number of pips × the pip value.
What is a worked example of pip value?
On EURUSD in a USD account, one pip is worth $10 on 1 lot, $1 on 0.10 lot and $0.10 on 0.01 lot. EURUSD has a contract size of 100,000 and a pip size of 0.0001, and its price is quoted in US dollars, so no conversion is needed.
| Position size | Calculation | Value of one pip |
|---|---|---|
| 1 lot | 1 × 100,000 × 0.0001 | $10 |
| 0.10 lot | 0.10 × 100,000 × 0.0001 | $1 |
| 0.01 lot | 0.01 × 100,000 × 0.0001 | $0.10 |
A 20-pip move on 0.10 lot is therefore 20 × $1 = $20, as a gain or as a loss depending on the direction.
What a pip is, and how lots and pips fit together, is covered in the lots, pips and pip value lesson of Module 2. Lot sizes are also explained in our guide to forex lot sizes.
What does each input mean?
Enter the instrument's contract size, pip size and quote currency, your position size and a move in pips, and the calculator shows what that move is worth. Your account currency sets the currency of the result. The position size calculator runs the same maths the other way, from money at risk to lots.
- Instrument: fills in example contract size, pip size and quote currency for common symbols. Choose Other to enter your own.
- Account currency: the currency your account is held in. The pip value is shown in it.
- Contract size: the number of units in 1.00 lot, for example 100,000 for most currency pairs.
- Pip size: the price step counted as one pip, for example 0.0001 for EURUSD and 0.01 for USDJPY.
- Quote currency: the currency the price is quoted in.
- Position size (lots): how many lots the position is.
- Move (pips): a number of pips, to see what that move is worth in money.
- Exchange rate: appears only when the quote currency differs from your account currency. Enter today's rate from your platform; the calculator never fetches prices.
What are the assumptions and limits?
The result is the value of a price move only, using generic contract and pip sizes rather than an account's specification. Spread, commission and swap are left out. The trading cost calculator adds those up for one trade, in pips and in money.
- The presets are generic market conventions, not the specification of any account. What counts as one pip, and the contract size, differ between instruments such as currency pairs, gold and indices, so check the symbol's specification in MetaTrader 5 and enter those values.
- Any exchange rate is the one you enter. When the quote currency differs from your account currency, the pip value changes as that rate moves.
- The calculator shows the value of a price move only. Spread, commission and swap are not included, and it does not suggest trades or position sizes. Nothing you enter is stored.
Frequently asked questions
How much is 1 pip worth on 0.01 lot?
On EURUSD in a USD account, one pip on 0.01 lot is worth $0.10. On other instruments it depends on their contract size, pip size and quote currency.
Is a pip calculator the same as a pip value calculator?
Yes. Both work out what a one-pip move is worth in money for a given position size, and from that what a move of any number of pips is worth.
Why is the pip value different on USDJPY?
Because its pip size is 0.01 and its price is quoted in yen. One lot is 100,000 × 0.01 = 1,000 yen per pip, which the calculator converts into your account currency at the rate you enter.
What is a pipette?
A pipette is one tenth of a pip. Where EURUSD is priced to five decimal places, as is common in MetaTrader 5, the fifth decimal is the pipette and one pip is the fourth decimal, 0.0001.
Does pip value change with the price?
Only when the quote currency differs from your account currency. For EURUSD in a USD account a pip on 1 lot stays $10; for USDJPY in a USD account the yen pip value is converted at the current rate, so it changes as that rate moves.
Sources
- MetaQuotes, MetaTrader 5 Help: Market Watch (accessed 20 October 2026): the symbol specification shows the contract size (units in one lot), digits (decimal places in the price), tick size, tick value and the profit currency the symbol's profit is calculated in. https://www.metatrader5.com/en/terminal/help/trading/market_watch
- Commodity Futures Trading Commission (CFTC), CFTC Glossary (accessed 20 October 2026): a pip is the smallest price unit of a commodity or currency. https://www.cftc.gov/LearnAndProtect/AdvisoriesAndArticles/CFTCGlossary/index.htm
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