Pip Calculator

Our free Pip Calculator gives you the exact pip value and pip cost for any trade so you can size positions, set stops, and plan take-profits with confidence. Enter your pair, price, lot size, and account currency to get instant results—perfect for forex, gold, and even crypto markets where “pip” conventions differ.

What Is a Pip (and a Pipette)?

A pip is the standard unit of price change. For most non-JPY forex pairs (e.g., EUR/USD, GBP/USD), one pip is 0.0001. For JPY pairs (e.g., USD/JPY), one pip is 0.01. Many brokers also quote an extra decimal place (a “pipette”): 0.00001 for non-JPY pairs and 0.001 for JPY pairs. In other markets, conventions vary: XAU/USD (gold) commonly uses 0.01 per pip, and BTC/USD is often treated as $1 per pip on many platforms. Always check your broker’s contract specifications.

How the Calculator Works

At its core, pip value depends on three things: pip size, price, and lot size. For pairs quoted in USD (e.g., EUR/USD, GBP/USD), the USD pip value for a standard lot (100,000 units) is typically $10 per pip because 100,000 × 0.0001 = 10. For JPY pairs (e.g., USD/JPY), the formula is:

Pip Value (USD) = (Pip Size ÷ Price) × Lot Size

Example at USD/JPY = 150.00 (pip size = 0.01): (0.01 ÷ 150.00) × 100,000 ≈ $6.67 per pip for a standard lot.

If your account is not in USD, convert the result using the relevant exchange rate. For example, to get INR: Pip Value (INR) = Pip Value (USD) × USD/INR. If USD/INR = 87, a $10 pip equals ₹870.

How to Use the Pip Calculator

1. Select the instrument (e.g., EUR/USD, USD/JPY, XAU/USD, BTC/USD).
2. Enter the current price or your entry price.
3. Choose your lot size (standard 100k, mini 10k, micro 1k; or ounces/contracts for commodities; units or coins for crypto depending on your broker).
4. Pick your account currency (USD, INR, EUR, etc.).
5. Click Calculate to see the pip value and the cost per pip move in your account currency.

You can then multiply by the number of pips in your stop or target to estimate risk and potential reward. For instance, with a 30-pip stop and a ₹79/pip value, your risk is about ₹2,370.

Quick Reference Examples

• EUR/USD at 1.1000 — Standard lot: $10/pip; Mini: $1/pip; Micro: $0.10/pip.
• USD/JPY at 150.00 — Standard lot: ≈ $6.67/pip; Mini: ≈ $0.667/pip; Micro: ≈ $0.0667/pip.
• XAU/USD (Gold) — Pip size commonly 0.01 per ounce. For 100 oz, that’s $1/pip; for 10 oz, $0.10/pip.
• BTC/USD — On many platforms, $1 change is treated as 1 pip. Position size (in BTC) scales the pip value linearly.

Advanced Tips for Traders

• Mind the quote currency: For pairs where USD is not the quote (e.g., USD/CHF), your pip value in USD varies with price. Re-check pip value as the market moves, especially in volatile sessions.
• Account currency conversions: If your account is in INR, EUR, or GBP, always convert the pip value. This ensures your risk per trade (e.g., 1% of equity) stays consistent across pairs.
• Include costs: Spreads, commissions, and financing can impact your true break-even. Add them when assessing stop distance and reward targets.
• Volatility-aware sizing: Use indicators like ATR to set stops that reflect current volatility. Then convert that distance to pips and use the result to size the position.
• Timing matters: Pip values don’t change by time of day, but spreads and slippage do. Around major events (CPI, NFP, central bank decisions), spreads can widen—plan more conservative sizing.
• Pipettes & platform quirks: Some platforms display an extra decimal. Confirm whether your stop/limit inputs are in pips or points to avoid 10× errors.
• Crypto nuance: The “pip” convention can differ by exchange. Verify tick size, contract specifications, and how your platform labels increments.

Common Mistakes to Avoid

• Using the wrong pip size: Treating USD/JPY like EUR/USD leads to incorrect risk math. Remember: JPY pairs use 0.01 per pip.
• Forgetting currency conversion: If your account currency differs from the quote currency, convert the pip value before setting risk.
• Ignoring spread in tight stops: A 10-pip stop on a pair with a 2-pip spread reduces your real breathing room. Factor this into trade planning.
• Fixed lot size across markets: Volatility varies dramatically between pairs. Use pip value to standardize risk per trade rather than using the same lot size everywhere.

Learn More (Authoritative Resources)

Deepen your knowledge with these high-quality references:
Investopedia: What Is a Pip? and
BabyPips: What is a Pip?.
They explain pip size conventions, examples, and how pricing works across currency pairs.

Related Tools

• Position Size Calculator — convert pip risk into precise lot size.
• Stop Loss Calculator — place protective stops using pip distance.
• Risk/Reward Ratio Tool — check if a setup’s R multiple is worth it.
• Leverage Calculator — understand exposure and margin before you click buy/sell.

Note: Examples above are illustrative. Live pip values and conversions change with market prices and exchange rates. Always verify your broker’s contract specs and tick sizes.