Pip Calculator

What is a pip, and what's it worth?

A pip ("percentage in point") is the standard unit of price movement in forex — usually the fourth decimal place (0.0001) for most pairs, or the second decimal (0.01) for pairs quoted in Japanese yen. The pip value is how much money one pip of movement is worth for your trade size, and it's what turns "the price moved 20 pips" into an actual profit or loss figure.

The formula

Pip value = trade size (units) × pip size × conversion rate. For a standard lot (100,000 units) of a USD-quoted pair, that's 100,000 × 0.0001 = $10 per pip. Mini lots are $1/pip and micro lots $0.10/pip.

The conversion rate

If the pair's quote currency matches your account currency (e.g. trading EUR/USD with a USD account), leave the rate at 1. If they differ — say a USD account trading a JPY-quoted pair — enter the rate to convert pip value from the quote currency into your account currency.

FAQ

What's the difference between a pip and a pipette?

A pipette is one-tenth of a pip — the fifth decimal place on most pairs (or the third on JPY pairs) that many brokers now quote for finer pricing. Pip value still refers to a full pip, so a pipette is worth one-tenth of the figure this calculator shows.

How do I find the conversion rate to enter?

If the pair's quote currency matches your account currency, the rate is simply 1. Otherwise, look up the current exchange rate from the quote currency to your account currency — for a USD account trading USD/JPY, for instance, you'd convert from yen back into dollars.

Why does pip value change for JPY pairs?

Yen pairs use the 2nd decimal (0.01) as the pip rather than the 4th, and the value must be converted from yen into your account currency. That's why their pip value isn't the familiar $10 per standard lot until you apply the conversion rate.

Does the pip value stay constant as the price moves?

For pairs quoted in your account currency, yes — it's fixed by lot size. For other pairs, pip value drifts slightly as the conversion rate changes, so it's worth recalculating if the market has moved a lot since you opened the trade.

Is this calculator free and private?

Yes — it's free with no sign-up, works on mobile, and runs entirely in your browser, so your trade details are never sent anywhere.

Educational tool only — not financial advice. Confirm exact pip values with your broker.