A pip is the smallest standard price move in a currency pair, such as EUR/USD, and knowing what it is worth is the starting point for every forex trade. This calculator shows the value of one pip for any trade size, converted into your chosen account currency.
Pip Value Calculator
What one pip is worth on any currency pair, in your account currency.
Exchange rates: ECB reference rates of 28 Oct 2026. Results are estimates for information only, not financial advice. Trading on leverage carries a high risk of losing money.
How To Use The Calculator
- Choose your account currency. This is the currency your profits and losses are paid in, such as USD.
- Pick the currency pair you want to trade, such as EUR/USD.
- Enter the trade size in lots. 1 lot is 100,000 units, 0.1 is a mini lot and 0.01 is a micro lot. Most forex brokers have a minimum trade size of 0.01.
- Check the exchange rate. This is the rate used to convert the pip value into your account currency. It’s filled in from the latest daily rates, and you can overwrite it with a live price.
The result shows the value of one pip for your trade size, how big a pip is for that pair, and the pip value for one standard, mini and micro lot, all in your account currency.
What Is A Pip?
For most currency pairs a pip is a move in the fourth decimal place, or 0.0001. If EUR/USD moves from 1.0850 to 1.0851, it has moved one pip. Pairs that include the Japanese yen are quoted with fewer decimals, so for them a pip is 0.01.
The value of a pip depends on three things:
- The size of your trade
- The pair you trade
- The currency your account is in
On a standard lot of 100,000 units, one pip on EUR/USD is worth $10. If your account is in euros, pounds or another currency that isn’t US dollars, that $10 has to be converted, and the value changes as exchange rates move.
How Pip Value Is Calculated
Pip value = pip size × trade size in units, converted from the pair’s quote currency into your account currency.
When the US dollar is the second currency in the pair (EUR/USD, GBP/USD, AUD/USD) and your account is in dollars, one pip on a standard lot is always $10. For other pairs, such as USD/JPY or EUR/GBP, the value depends on the current exchange rate, which is why it changes slightly from day to day.
Why It Matters
- It tells you what every pip of movement is worth before you trade, so a 30-pip move holds no surprises.
- It is the key number for setting position size. Use our position size calculator to turn it into a trade size that fits your risk.
- It shows why the same number of pips can be worth more or less on different pairs.
DayTrading.com’s free trading calculators are for education and planning only and are not financial advice. Trading on margin is high risk, and you could lose any money you invest. Trade responsibly.