Value of a pip for any pair, lot size and account currency.
A pip value calculator tells you how much money one pip of price movement is worth on your trade. Choose an instrument, your account currency and a trade size in lots, and it returns the pip value for your position, per standard lot and per mini lot, converted at the live rate.
Pip value = pip size × contract size × lots × exchange rate
EUR/USD, 1 lot, USD account: 0.0001 × 100,000 × 1 × 1 = 10.00 USD per pip. A mini lot is worth 1.00 USD per pip.
USD/JPY, 1 lot, USD account, with USD/JPY at 150.00:
Pip value stays fixed when the quote currency matches your account, such as EUR/USD on a USD account, but it drifts with the rate for other pairs. Multiply the pip value by your stop distance to see what a trade could cost. Contract sizes can differ between platforms, especially on metals and crypto, so check your contract specification.
Brush up on the basics in spreads and pips explained and lot sizes and order types, or read the gold trading guide. When you know your pip value, the position size calculator turns it into a lot size.
Multiply the pip size by the contract size and your number of lots. That gives the pip value in the pair's quote currency. If your account uses a different currency, the calculator converts it at the live rate. One standard lot of EUR/USD is worth 10 USD per pip.
A standard lot is 100,000 units of the base currency, a mini lot is 10,000 (0.1 lot) and a micro lot is 1,000 (0.01 lot). In this calculator one lot of gold is 100 ounces, one lot of silver 5,000 ounces and one lot of Bitcoin one coin.
The calculator counts a gold pip as a 0.10 move in price and a lot as 100 ounces, so one pip on one lot is 0.10 × 100 = 10 USD, and 1 USD on 0.1 lot. A 5 USD move is 50 pips. Some platforms count a gold pip as 0.01, so check yours.
On yen pairs a pip is worth 1,000 yen per standard lot, because the yen is the quote currency. To show it in dollars the calculator divides by the USD/JPY rate. At 150.00 that is about 6.67 USD per pip, and the figure changes as the rate moves.
Usually nothing. Leave it blank and the calculator uses the live rate. If you enter your own, use the value of one unit of the quote currency in your account currency, not the pair's price. For USD/JPY on a USD account that is 1 ÷ 150 = 0.00667, not 150.