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Pip value calculator

Lot size, contract size and pip size: what one pip is worth, and what a move of several pips is worth.

Inputs

Trade volume in lots

lots

Units of the base currency in one lot

units

The price step one pip stands for

Account currency per one unit of the quote currency; keep the example value when they are the same

rate

How many pips the price moves

pips

One pip is worth

ExampleYour numbersNot calculated

10.00in your account currency

Worked out when the page was built, with example numbers. Change any field and the browser recalculates.Recalculated in this browser with your numbers. Nothing is saved or sent.Fix the marked field; the answer appears then.

In the quote currency
10.00
A move of 25.0 pips
250.00USD

How it is calculated

One pip = lots × contract size × pip size, in the quote currency. Multiply by the conversion rate for your account currency, and by the number of pips for a move.

1.00 × 100,000 × 0.0001 = 10.0010.00 × 1.0000 = 10.00 USD10.00 × 25.0 = 250.00 USD

Worked cases, no calculator needed
Three worked cases
InputsResult
Lots 1.00 · Contract 100,000 · Pip size Most pairs, fourth decimal · Rate 1.0000 · Move 25.010.00 in your account currency
Lots 0.50 · Contract 100,000 · Pip size Yen pairs, second decimal · Rate 0.0067 · Move 10.03.35 in your account currency
Lots 0.10 · Contract 100,000 · Pip size Most pairs, fourth decimal · Rate 1.0000 · Move 40.01.00 in your account currency

What to do next

Use the pip value to place the stop, not the other way round.

The value of a pip moves with the lot size and with the exchange rate into your account currency. Recalculate when either changes.

This page explains what each input in the pip value calculator means. It also shows how to read the result and what the result does not include.

What each input means and where to find it

The instrument is the market you trade, such as a currency pair, gold or an index. You pick it from the list on your trading platform. The trade size is the number of units or lots in your position. Your platform shows this on the order ticket before you open a trade.

The price is the current market price of that instrument. Your platform displays it at the top of the chart or in the order window. The pip size is the smallest price step for that instrument. Your platform or the instrument details page shows this value.

How to read the result and what it does not tell

The result shows the money value of one pip for your chosen trade size. It helps you compare the risk of different positions. It does not include costs such as spreads or commissions. Your final profit or loss will be lower than the pip value suggests.

The result assumes the price moves in a smooth way. Real prices can jump over your stop level, so your loss may be larger. The result also uses the price you entered. If the price changes, the pip value can change too. Always check the live value on your platform before you trade.

A common mistake

A common mistake is to forget that the pip value changes when the price moves. Another is to treat the pip value as your total profit without subtracting costs.