Pip value calculator
What is one pip worth on your trade?
Pick the instrument, your account currency and the lot size. Pip value is the number every other risk calculation is built on — get it wrong and the stop-loss, the position size and the cost figures are all wrong with it.
Pip value by lot size
| Lots | Per pip | 10 pips | 50 pips |
|---|
Next Now size a trade with it →
Reading the number honestly
- A pip is the fourth decimal (0.0001) on most pairs and the second (0.01) on yen pairs. Platforms quoting five decimals show points: ten points to a pip.
- USD-quoted pairs on a USD account are fixed: $10 per standard lot, always. Everything else moves with the exchange rate, so the conversion-rate field is pre-filled with an indicative figure — overwrite it with today's.
- Gold and indices are contracts, not pairs, and brokers differ on contract size and on what they call a pip. The note under the instrument says which convention this page uses; the specification on your platform says which yours uses.
- Pip value is what a move is worth, not what a trade costs. For the cost, see true cost per lot.
Questions
What is a pip?
The smallest conventional price step: 0.0001 on most pairs (1.0850 → 1.0851) and 0.01 on yen pairs (150.20 → 150.21). Brokers that quote an extra decimal are showing tenths of a pip, usually called points. On indices this page treats one index point as one pip.
Why does my platform show a different pip value?
Three usual reasons: your account is not in the quote currency, so a conversion rate applies; the contract size for that symbol is not 100,000; or the platform is quoting tick value per point, not per pip. The override field lets you use the platform's figure directly.
Where do I find the contract size on MT4 or MT5?
Right-click the symbol in Market Watch → Specification. Contract size and tick value are listed there. Divide tick value by tick size, multiply by pip size, and you have the pip value per lot.
