Trading calculators
Pip value calculator
Pick the instrument and the volume to see what you gain or lose on every pip the price moves.
How is pip value calculated?
Pip value = contract size × pip size × lots. The result is in the quote currency, the second currency of the pair, and is then converted to USD.
On most pairs a pip is the fourth decimal (0.0001); on yen pairs it is the second (0.01).
A worked example
One lot of EURUSD is 100,000 euros and a pip is 0.0001, so a pip is worth 100,000 × 0.0001 = 10 USD. On USDJPY a pip is worth 1,000 yen per lot, about 6.7 USD when the price is 150.
On gold (XAUUSD) one lot is 100 ounces, so every 1 USD move in the price is worth 100 USD per lot.
Frequently asked questions
Why does pip value differ between pairs?
Because it is counted in the quote currency. On pairs ending in USD such as EURUSD it stays 10 USD per lot; on others it moves with the rate that converts the currency to USD.
Is pip value the same on demo and live accounts?
Yes, both use the same contract size; on the demo account the money is simply virtual.
How do I use pip value to manage risk?
Multiply the pip value by the pips to your stop loss to see your possible loss, then size the trade with the position size calculator.
Start with a demo or a live account
The demo account runs on the same platform with virtual funds, and you can open a live account when you are ready.