The dollar value of one pip changes with the pair you trade and your position size. Pick a pair, enter the current rate and your position in lots to see what a 1 pip move means for your P&L.
A pip is the smallest standardised price move for a currency pair — 0.0001 for most pairs, 0.01 for pairs quoted in Japanese yen. Pip value is what that single-pip move is worth in money, and it depends on three things: the pair's pip size, the contract size of the lot you're trading, and the current exchange rate back to your account currency.
The core formula is: Pip Value = Pip Size × Contract Size × Lots, converted into your account currency. For a standard lot (100,000 units) on a pair quoted directly against your account currency, this comes out to a round number like $10 per pip — but for cross pairs or pairs quoted the other way round, the calculator converts through the pair's quote currency to give you an accurate figure.
Because pip value scales linearly with position size, doubling your lot size doubles your pip value — which is exactly why position sizing and pip value are two sides of the same risk-management calculation.
Worked example: on 1 standard lot (100,000 units) of EUR/USD with a USD account, pip value works out to 0.0001 × 100,000 = $10 per pip. That means a 10-pip move is worth $100, and a 50-pip move is worth $500 — the exact figures a 0.4-lot position from the Position Size Calculator would need to size a $100 risk against a 25-pip stop.
A pip (percentage in point) is the standard unit of price movement in forex, typically the fourth decimal place (0.0001) for most pairs and the second decimal place (0.01) for yen pairs. It's the common reference point traders use to measure price moves, spreads, and stop distances.
Pip value equals the pair's pip size multiplied by the contract size (units in your lot), then converted into your account currency at the current exchange rate. For example, a standard lot of a pair quoted directly in USD produces a pip value close to $10.
Pip value depends on the quote currency of the pair and the prevailing exchange rate. A pip on GBP/JPY is worth a different amount in USD than a pip on EUR/USD, even at the same lot size, because the underlying currencies and conversion rates differ.
A mini lot (10,000 units) carries one-tenth the pip value of a standard lot, and a micro lot (1,000 units) carries one-hundredth. This calculator shows all three side by side so you can match pip value to your account size.
Pairs quoted against the Japanese yen (like USD/JPY) are priced with only two decimal places rather than four, so their pip size is 0.01 instead of 0.0001. The calculator adjusts automatically for whichever pair you select.