Pip value calculator for forex and gold

What is one pip worth in dollars? Pick the pair type, enter the lots and a rate if needed, and get the answer. No sign-up.

Instrument

Lots

Rate

-Value of one pip (USD)

-Per 1.0 lot

-Value of 10 pips

Pick the kind of instrument, enter the lot size, and the value of one pip in US dollars appears, together with the value for one lot and for ten pips. Pairs that are not quoted in dollars need one extra number so that the result can be converted. For gold the calculator shows the value of a $1 move, because the meaning of a pip on gold differs between brokers.

The formula

The value of one pip in the quote currency is the number of lots times the contract size times the pip size. A standard forex lot is 100,000 units and a pip is usually 0.0001, or 0.01 for pairs quoted in yen. Then the result is converted to your account currency. For a pair quoted in dollars the conversion is one, so one pip on one lot is 100,000 x 0.0001 = $10.

Pair type	One pip on 1.0 lot	How it is worked out
EURUSD, GBPUSD, AUDUSD	$10.00	100,000 x 0.0001, already in dollars
USDCHF at 0.9000 (hypothetical)	$11.11	100,000 x 0.0001 = 10 CHF, divided by 0.9000
USDJPY at 150 (hypothetical)	$6.67	100,000 x 0.01 = 1,000 JPY, divided by 150
EURGBP with GBPUSD at 1.2700 (hypothetical)	$12.70	100,000 x 0.0001 = 10 GBP, multiplied by 1.2700
EURJPY with USDJPY at 150 (hypothetical)	$6.67	1,000 JPY, divided by 150
XAUUSD, 100 oz per lot	$100 per $1 move	100 ounces x $1

Lots scale the value

Lot size	Units	One pip on a USD-quoted pair	40 pips
0.01	1,000	$0.10	$4.00
0.10	10,000	$1.00	$40.00
0.50	50,000	$5.00	$200.00
1.00	100,000	$10.00	$400.00
2.00	200,000	$20.00	$800.00

Pip, point and tick: a short glossary

Term	Meaning	Example
Pip	The usual unit of price change on forex: 0.0001, or 0.01 for yen pairs	EURUSD moves from 1.0850 to 1.0860: 10 pips
Point	The smallest price step your broker quotes. On 5-digit brokers a pip is 10 points	1.08501 to 1.08511 is 1 point, a tenth of a pip
Tick size	The minimum price change of the symbol, from its specification	0.00001 on a 5-digit EURUSD
Tick value	The profit or loss for one tick on one lot, in the account currency	$1.00 on a 5-digit USD-quoted pair at 1 lot

Check your own broker's numbers

In MetaTrader 5, open Market Watch, right-click the symbol and choose Specification. It shows the contract size, the tick size and the tick value. Gold, indices and crypto CFDs often differ between brokers, so use those figures when the calculator's assumptions do not match. The value of a pip you work out here should agree with the tick value multiplied by the number of ticks in a pip. If it does not, trust the specification.

Where pip value is used

Position sizing. Lots = amount at risk / (stop in pips x pip value per lot). The position size calculator does it for you.
Checking a trade result. Multiply the pips by the pip value and the lots, then add commission and swap. The profit and loss calculator works it out in one step.
Comparing stops across pairs. A 20-pip stop is not the same money on every pair. Convert to dollars before you compare.
Journal entries. Record the stop in pips and in dollars, so your review can compare risk fairly across instruments.

Common mistakes

Using $10 per pip for every pair. It is exact only for pairs quoted in dollars.
Forgetting that a micro lot (0.01) is a hundredth of $10, which is ten cents.
Counting points as pips on a 5-digit quote, which makes the stop ten times too large or small.
Assuming gold's contract size is the same at every broker.
Ignoring that the value of a pip on non-USD pairs changes as exchange rates move.

This calculator is for education. It is not trading or investment advice. Rates in the examples are made up.

A worked example: from stop in pips to lots (hypothetical)

You want to risk $50 on a EURGBP trade with a 25-pip stop, and GBPUSD is at 1.2700. One pip on one lot is 100,000 x 0.0001 x 1.2700 = $12.70, so the stop costs 25 x $12.70 = $317.50 per lot. The lot size is $50 / $317.50 = 0.157, which rounds down to 0.15 lots. If you had used $10 per pip for every pair, you would have sized the trade at 0.20 lots and risked about $63.50 instead of $50, which is 27% more than you meant to.

Why the value drifts over time

For a pair quoted in dollars the value of a pip never changes. For every other pair it moves with the exchange rate that converts the quote currency to dollars. A USDJPY pip was worth less in dollars when the yen was weaker, and a EURGBP pip is worth more when the pound is strong. For a trader who sizes by risk, that means the lot size for the same stop in pips changes a little from week to week, and the journal should record the actual dollar risk, not just the pips.

What to record in your journal

The stop and target in pips and in dollars at the lot size you used.
The pip value you assumed, and whether you checked it against the symbol's Specification in MT5.
The planned risk in dollars, so you can compare it with the realised loss on stopped-out trades.

After a month, compare the planned risk with the real losses on stopped-out trades. A large gap points to a wrong pip value, a moved stop or slippage, and each has a different fix. The risk of ruin calculator shows why keeping risk per trade steady matters.

Gold has no official pip. Gold pip value explained shows the readings and the dollar value of each.

Want to know where the pip and tick numbers come from? Read MT5 tick value and tick size explained. For gold stops in dollars, use the XAUUSD stop loss calculator.

Frequently asked questions

How much is one pip worth?

On a pair quoted in dollars, one pip on a standard lot (100,000 units) is $10, on a mini lot $1 and on a micro lot $0.10. On other pairs it depends on the exchange rate used to convert to your account currency.

How do I calculate pip value for USDJPY?

Multiply the lots by 100,000 and by 0.01 to get the value in yen, then divide by the USDJPY price. At 150, one pip on one lot is about $6.67.

What is the pip value for gold?

Gold is usually quoted in dollars per ounce with 100 ounces per lot at most brokers, so a $1 move is $100 per lot. A pip is not defined consistently for gold, so work in dollars of price movement and check your broker's specification.

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