Fill in the empty fields to see the result.
What the pip calculator shows
A pip is the standard unit used to measure a price move in forex and other CFDs. Pip value is how much money a move of a single pip is worth for your position size.
The forex pip calculator gives you this value in two currencies:
- Quote currency. This is the second currency in a pair, the one the price is expressed in. For EURUSD it is USD.
- Account currency. This is the currency your trading account is held in. The tool converts the quote-currency value into it using reference exchange rates.
The inputs start with neutral sample values so you can see how the result is built. Change them to match the position you are looking at. The result updates next to the inputs.
Ready to try it on a real or demo account?
Partner link · trading carries a high risk of loss
The formula
The calculator uses this formula:
pip value = pip size × contract size × lots / conversion
| Term | Meaning |
|---|---|
| Pip size | The price step counted as a pip for that instrument. The tool fills it in when you pick a symbol. |
| Contract size | How many units of the base currency or asset a full lot represents. This is set per instrument. |
| Lots | Your position size. Fractional lots scale the result in proportion. |
| Conversion | The exchange rate used to turn the quote-currency value into your account currency. |
How the conversion works
- Quote currency is the same as the account currency. Nothing is converted. For example, a USD account trading EURUSD gets the pip value directly in USD.
- Quote currency is different from the account currency. The tool divides by the rate between your account currency and the quote currency. For example, a USD account trading a JPY-quoted pair has the JPY pip value divided by the USDJPY rate.
- Neither currency of the pair is your account currency. The tool uses a cross rate between the quote currency and your account currency.
Reference rates are published once a day or less often. Your broker converts at live prices, so your platform's figure can differ slightly from the calculator.
Pip value on metals, indices and crypto CFDs
The same formula applies beyond currency pairs. The pip size and contract size are what change.
- Metals such as XAUUSD have their own contract size and price step. See Metals.
- Indices such as US100 or NAS100 often move in points rather than pips, and contract sizes vary by provider. See Stock indices.
- Crypto CFDs use contract sizes set per coin. The Crypto Position Calculator is built for them.
Contract specifications differ between brokers and account types. Check the current specification for the symbol in your platform or on your broker's official site before relying on any number.
Using pip value in practice
Pip value links a price move to money. It answers questions like these:
- How much does a stop-loss distance cost? Multiply your stop distance in pips by the pip value. The Lot size calculator does this in reverse and finds a position size for a chosen risk amount.
- What is a planned target worth? The Profit/loss calculator uses entry and exit prices.
- How much does the spread cost? Spread in pips multiplied by pip value gives the cost of opening the trade. See the Trade cost calculator.
- How much margin is needed? Pip value does not tell you this. Use the Margin calculator.
Leveraged CFD and forex trading can lose money fast. A larger lot size raises the pip value, so each pip against you costs more. Losses can exceed what you planned if the price gaps past your stop. See Risk management and Regulation and Safety before trading with real money.
Frequent questions
What is pip value?
Pip value is the money gained or lost when the price moves by a single pip for a given position size. It depends on the instrument, the lot size and your account currency.
Why does pip value change when the lot size is the same?
If the quote currency differs from your account currency, the conversion rate moves every day. The pip value in the quote currency stays fixed, but its value in your account currency shifts with the exchange rate.
Is a pip the same as a point?
No. Many platforms, including MetaTrader 5, quote prices with an extra decimal. A "point" is the smallest price step, which is a fraction of a pip. Check which unit your platform shows before you enter a distance.
Why is my platform's number slightly different?
The calculator converts with reference rates, while the platform uses live prices. Contract size can also differ by broker or account type.
Can I calculate pip value in PKR?
Choose PKR as the account currency if the tool lists it. Otherwise, take the result in USD and convert it with the Currency converter. For official rupee rates, see SBP exchange rates.
Does pip value tell me whether to trade?
No. It is a measurement tool for position sizing and cost. It is not a signal or a recommendation.