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Pip Calculator
Find out exactly how much one pip is worth before you place a trade. Pick a lot size and pair, add the conversion rate to your account currency, then press Calculate.
Written by TopicDrill Editorial Team·Updated June 2026
Pip value by position size
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How the pip calculator works
Every forex trade moves in pips, but a pip on its own is just a price step. What matters for your account is how many dollars, euros or pounds that step is worth. This tool turns a pip into real money by multiplying the pip size by the number of units you trade, then converting the result into the currency your account is held in.
The chart lines up four common position sizes so you can see how pip value scales. Move from a micro lot to a standard lot and the value of each pip jumps by a factor of one hundred, which is why position sizing matters so much for risk.
A worked example
Suppose you trade one standard lot of 100,000 units on a pair where the quote currency is the same as your account currency and the pip size is 0.0001. One pip is worth 0.0001 times 100,000, which is 10 units of your account currency. A 25 pip move therefore swings your balance by 250, before any spread or commission.
Things to keep in mind
The conversion rate you enter should reflect the live market, and it changes as prices move, so treat the pip value as a snapshot rather than a fixed figure. For a primer on how currency quotes and pips are defined, the BabyPips school is a good neutral starting point. Once you know your pip value, size the trade against your capital with our portfolio return calculator.
Frequently asked questions
What is a pip?
A pip is the smallest standard price move that a currency pair normally makes. For most pairs it is the fourth decimal place, or 0.0001, while for pairs quoted against the Japanese yen it is the second decimal place, or 0.01.
How is pip value calculated?
Pip value equals the pip size times the number of units in your position, converted into your account currency. So pip value equals pip size times units times the rate that turns one unit of the quote currency into your account currency.
Why does pip value change between pairs?
Because the pip value is measured in the quote currency, the second currency in the pair. When that currency is not the same as your account currency, the result has to be converted, so the same lot size can be worth different amounts depending on the pair you trade.
What is the pip value of one standard lot?
A standard lot is 100,000 units. For a pair where the quote currency matches your account currency and the pip size is 0.0001, one pip is worth about 10 in your account currency. A mini lot is one tenth of that and a micro lot is one hundredth.
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