CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
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Pip calculator

A pip calculator tells you how much money one pip (or one point) of price movement is worth for your trade size. Choose an instrument, enter your lot size and see the pip value in USD.

1 lot = 100,000 EUR

Indicative default. Type the current price from your platform.

For EURUSD, one pip is a price move of 0.0001.

Result

Pip value (pip) in USD
$10.00
Size of one pip
0.0001 USD
Value of 10 pips
$100.00

Estimates for a USD account. They exclude spread, commission and swap, and use the price you entered, not a live quote.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Leverage magnifies both gains and losses. Maximum leverage depends on the instrument, account type and your jurisdiction.

How it works

How pip value is calculated

Pip value is the pip size multiplied by the contract size and by the number of lots. This gives the value in the instrument's quote currency (the second currency of the pair).

If the quote currency is USD (EURUSD, GBPUSD, gold, oil, US indices, Bitcoin) no conversion is needed. For USDJPY the yen value is divided by the USDJPY price to convert it into dollars.

Pip value (quote) = pip size × contract size × lots
Pip value (USD)   = pip value (quote) × quote→USD rate
USDJPY: quote→USD rate = 1 ÷ USDJPY price

Worked example

Example: 0.5 lot of USDJPY at 150.00

  1. Pip size for USDJPY is 0.01 and one lot is 100,000 USD.
  2. Pip value in yen = 0.01 × 100,000 × 0.5 = ¥500.
  3. Pip value in dollars = ¥500 ÷ 150.00 = $3.33 per pip.
  4. A 20-pip move is therefore worth about $66.67, positive or negative depending on the direction of your trade.

FAQ

Frequently asked questions

What is a pip in forex?

A pip is the standard unit of price movement. For most currency pairs it is 0.0001 (the fourth decimal place); for pairs quoted in Japanese yen, such as USDJPY, it is 0.01.

How much is one pip worth on EURUSD?

On a USD account, one pip on 1 standard lot of EURUSD (100,000 EUR) is worth $10, on 0.1 lot it is $1 and on 0.01 lot it is $0.10.

Why does the pip value of USDJPY change with the price?

USDJPY profits and losses are made in yen. To show them in dollars the calculator divides by the USDJPY price, so the dollar value of a pip is lower when USDJPY is higher.

How is a pip defined on gold and indices?

In this calculator a gold (XAUUSD) pip is a 0.01 price move on a 100-ounce lot, and index CFDs such as US30 and NAS100 are measured in whole points worth $1 per lot. Always check the contract specification in MT5, as definitions differ between brokers.

Does the pip value include spread or commission?

No. The result is the value of the price movement only. Spread, commission and overnight swap are separate trading costs.

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