Pip Value Calculator — Forex

A pip is the smallest price move in a forex pair. Knowing the dollar value of each pip is essential for position sizing and risk management.

What is a pip?

For most pairs (EUR/USD, GBP/USD), a pip = 0.0001 (4th decimal). For JPY pairs (USD/JPY), a pip = 0.01 (2nd decimal).

Pip value formula

Pip Value = (Pip Size ÷ Exchange Rate) × Lot Size

For a standard lot (100,000 units) of EUR/USD at 1.0850:
Pip Value = (0.0001 ÷ 1.0850) × 100,000 = $9.22 per pip

Common pip values (standard lot)

Mini lot (10,000 units) = 1/10 of above. Micro lot (1,000 units) = 1/100 of above.

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