Pip value calculator
What one pip is worth to you, in your account currency, for your position size. Every risk calculation stands on this number.
What the number means
A pip is the conventional price step of an instrument: 0.0001 for most currency pairs, 0.01 where the quote currency is yen, 0.1 for gold and 0.01 for silver. One pip on one standard lot is worth a fixed amount of the quote currency - $10 for EURUSD, ¥1,000 for USDJPY, $10 for gold.
The part that catches people out is the account currency. A pip's value lands in the quote currency, so when your account is denominated in something else, the conversion rate changes what that pip is worth to you - and it drifts as that rate moves.
Worked example
Three positions, one US dollar account.
- EURUSD, 1 lot: 0.0001 × 100,000 = $10.00 per pip
- USDJPY, 1 lot: 0.01 × 100,000 = ¥1,000; at 150 yen to the dollar that is $6.67 per pip
- Gold, 1 lot: 0.1 × 100 oz = $10.00 per pip
Same lot count, three different pip values - which is why sizing rules copied between instruments without this conversion go wrong. The unit test suite pins these exact figures.
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<a href="https://ticksprout.com/tools/pip-value">Pip value calculator by Tick Sprout</a>Related tools
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An amount converted at a rate you enter - deliberately no live feed.
1,000 @ 1.08 → 1,080