Pip calculator for forex, gold, oil and indices

Worked example

On EUR/USD a pip is 0.0001 and a standard lot is 100,000 euros, so one pip is 0.0001 × 100,000 = $10 on a full lot, and a 20 pip move is worth $200. At 0.10 lots both are a tenth: $1 a pip and $20 for the move.

When the price is not quoted in dollars, convert. One pip on USD/JPY is 0.01 × 100,000 = 1,000 yen. At an example rate of 150 that is 1,000 ÷ 150 = $6.67 a lot. On EUR/GBP a pip is £10 a lot, and at an example GBP/USD of 1.30 that makes $13.

Gold has two habits. With a 100 ounce lot, a 0.01 pip is worth $1 a lot and a 0.10 pip is worth $10. Silver on a 5,000 ounce lot gives $5 for a 0.001 pip and $50 for 0.01. On US30, with 1 contract to the lot, a point is $1, and on GER40 a point is €1, which is $1.10 at an example EUR/USD of 1.10.

The formula

Pip value per lot = pip size × contract size, in the quote currency. Pip value at your size = pip value per lot × lots. The move is worth = pip value at your size × pips. A 1.00 price move per lot = contract size, converted the same way.

To turn a pip into dollars: leave it when the price is quoted in US dollars. For USD/JPY, USD/CAD and USD/CHF divide by the pair's own price, for EUR/JPY and GBP/JPY divide by USD/JPY. For EUR/GBP and UK100 multiply by GBP/USD, and for GER40 by EUR/USD.

For gold with both pip sizes side by side at every lot size, see the XAUUSD pip calculator.

Pip value per lot by market

Contract sizes are common broker defaults and yours may differ. Markets not quoted in US dollars use example rates, not live ones: USD/JPY 150.00, USD/CAD 1.40, USD/CHF 0.80, GBP/USD 1.30, EUR/USD 1.10.

Lot size calculator · Gold lot size calculator · XAUUSD pip calculator · Position size calculator · Risk reward calculator · All calculators

By market: US30 pip value, NAS100 pip value, US500 pip value, XAGUSD pip, Oil pip value.

Questions and answers

How much is 1 pip worth?

$10 on a standard lot of a pair quoted in dollars, such as EUR/USD or GBP/USD. On 0.10 lots it is $1 and on 0.01 lots $0.10. Pairs quoted in another currency move with the rate: USD/JPY is $6.67 a lot at 150.

How do I calculate pip value?

Multiply the pip size by the contract size and by your lots, then convert to dollars if the price is not quoted in dollars. 0.0001 × 100,000 × 0.5 lots = $5 a pip on EUR/USD.

What is a pip on gold?

Brokers use two sizes: 0.01 or 0.10 of the price. On a 100 ounce lot that is $1 or $10 a lot. The contract specification on your platform says which one yours counts.

Is a point the same as a pip?

On indices and crypto CFDs we count points: one whole unit of the price, so US30 going from 42,000 to 42,001 is one point. MetaTrader also calls the smallest price step a point, which on EUR/USD is 0.00001, a tenth of a pip.

Why does the pip value of USD/JPY change?

A pip on USD/JPY is worth 1,000 yen a lot, and the number of yen in a dollar moves. At 150 a pip is $6.67, at 140 it is $7.14. Pairs quoted in dollars stay at $10 a lot whatever the price does.

More calculators: lot size calculator, position size calculator, risk reward calculator, leverage calculator, liquidation price calculator, funding fee calculator, crypto profit calculator, Bitcoin profit calculator, Ethereum profit calculator, Dogecoin profit calculator, gold lot size calculator, XAUUSD pip calculator, gold profit calculator, fibonacci calculator, compounding calculator, drawdown recovery calculator, risk of ruin calculator.

This page in other languages: Bahasa Indonesia, ไทย, Tiếng Việt, 日本語, Bahasa Melayu, Türkçe, Русский, Português (Brasil), Español, Italiano, Français.