Pip Value Calculator.
Pip value tells you how much one pip of price movement is worth in dollars on the position you're holding. It is the building block of every other trading calculation — risk per trade, risk-to-reward, drawdown, expectancy. Get pip value wrong and every downstream calculation is wrong with it. This calculator gives you the USD pip value for forex majors, gold and Bitcoin at any lot size, instantly. Use it before sizing a trade or to sanity-check a position you already have open.
Inputs
Your position
1.00 = standard lot, 0.10 = mini, 0.01 = micro.
Reference
Pip size: 0.0001
Contract size: 100,000
Pip value per 1.00 lot: $10.00
Result
Pip value
Values assume a USD-denominated account at indicative spot. JPY and gold pip values move with the underlying.
What is a pip?
A pip is the smallest meaningful price change in a quoted currency. On most forex pairs that's 0.0001 — the fourth decimal. On JPY pairs it's 0.01. On gold most traders quote a pip as $0.10 of price; on Bitcoin it's often $1.
Formula
PipValue = LotSize × PipValuePerLot
- EUR/USD, GBP/USD — $10 per pip per 1.00 lot. A 0.10 lot pays $1 per pip.
- USD/JPY — about $6.70 per pip per 1.00 lot at current spot. The exact value shifts as USD/JPY moves.
- Gold (XAU/USD) — $10 per pip per 1.00 lot where a pip is $0.10 of price on a 100-oz contract.
- Bitcoin — broker-specific. Most CFD desks quote 1 BTC per lot, $1 per $1 of price move.
Pip value questions
- How much is one pip worth?
- On most USD-quoted forex pairs like EUR/USD and GBP/USD, one pip is worth about $10 per standard (1.00) lot, $1 per mini (0.10) lot, and $0.10 per micro (0.01) lot.
- What is a pip in forex?
- A pip is the smallest standard price move in a currency pair — 0.0001 on most pairs and 0.01 on JPY pairs. On gold a pip is usually $0.10 of price, and on Bitcoin it is often $1.
- Why is the pip value of USD/JPY different?
- On pairs where USD is the base currency, like USD/JPY, the pip value depends on the current exchange rate, so it shifts as price moves — roughly $6.70 per pip per standard lot near current spot rather than a fixed $10.