Pip Value Calculator

Pip Value Calculator | The Payout Report Academy
Free Professional Tool

Pip Value Calculator

Know exactly what every pip is worth in your account — across forex pairs, metals, indices, energies and crypto — before you enter any trade.

Trade Inputs

Select instrument, price and lot size

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Ready to Calculate

Select your instrument, enter the current price (for JPY and cross pairs), set your lot size and press Calculate.

Understanding Pip Value

How Pip Value Works

Pip value is the monetary worth of a single pip movement. Without knowing this, you cannot accurately calculate your risk, set your position size, or understand your true exposure on any trade.

1

What Is a Pip?

A pip (Percentage In Point) is the smallest standard price movement. For most forex pairs, 1 pip = 0.0001 (4th decimal). For JPY pairs, 1 pip = 0.01. For Gold, 1 pip = $0.01. For indices, 1 pip = 1 point.

2

Why It Matters

Pip value tells you exactly how much you gain or lose per pip the market moves. With a 20-pip stop loss and a pip value of $10, your risk is $200. This is the foundation of every position sizing calculation.

3

Fixed vs Variable

USD-quoted pairs (EUR/USD, GBP/USD, AUD/USD) have a fixed pip value — always $10 per standard lot. USD-base pairs (USD/JPY, USD/CHF) are variable — the pip value changes as the exchange rate moves.

4

Scales With Lot Size

Pip value scales exactly with lot size. EUR/USD at 1 standard lot = $10/pip. At 0.50 lots = $5/pip. At 0.10 lots = $1/pip. This is how position sizing links directly to your risk percentage.

📐 USD-Quoted Pairs (Fixed)

Pairs: EUR/USD, GBP/USD, AUD/USD, NZD/USD Formula: Pip Value = Pip Size × Contract Size × Lots Example: 0.0001 × 100,000 × 1 lot = $10.00 Note: Does NOT change with price — always fixed

These pairs end in USD so every pip is automatically expressed in your USD account. The easiest to work with — $10 per pip per standard lot, every time.

📐 USD-Base Pairs (Variable)

Pairs: USD/JPY, USD/CHF, USD/CAD Formula: Pip Value = (Pip Size × Contract Size) ÷ Price Example: (0.01 × 100,000) ÷ 149.50 = ~$6.69 Note: Changes every time the price moves

These pairs have USD as the base, so we must divide by the current exchange rate to convert the pip value into USD. Always enter the current price for accurate results.

📐 Gold & Metals

Gold (XAU/USD): Contract = 100 troy oz per std lot Pip Size = $0.01 Pip Value = $0.01 × 100 = $1.00 per pip Silver (XAG/USD): Contract = 5,000 oz, Pip = $0.001 Pip Value = $5.00 per pip

Gold is quoted in USD so pip value is straightforward. At 1 standard lot, each $1 move in gold price = $100. Each pip ($0.01) = $1. Widely used in prop firm challenges.

📐 Indices & Energies

US30 / NAS100 / SPX500: 1 point move per std lot = $1.00 (varies significantly by broker) WTI / Brent Crude Oil: Contract = 1,000 barrels Pip = $0.01 → $10 per pip per lot

Index pip values depend heavily on your broker’s contract specifications. Always verify with your broker — the values shown here are standard but brokers may use different multipliers.

📚 Pip Value Glossary

Key terms every trader should know

Pip Value
The monetary value of one pip at your current lot size. Multiply pip value by the number of pips in your SL to get your exact risk in dollars.
Standard Lot
100,000 units of base currency. On EUR/USD, 1 standard lot = €100,000 controlled. Pip value = $10. Most prop firms trade 0.01–2 standard lots.
Mini Lot
10,000 units — one tenth of a standard lot. Pip value on EUR/USD = $1. Good for traders sizing down during prop firm challenges.
Micro Lot
1,000 units — one hundredth of a standard lot. Pip value on EUR/USD = $0.10. Ideal for very small accounts or testing strategies with real money.
Fixed Pip Value
Pairs where pip value stays constant regardless of price (EUR/USD, GBP/USD, AUD/USD, NZD/USD). Always $10/pip per standard lot for USD accounts.
Variable Pip Value
Pairs where pip value changes with the exchange rate (USD/JPY, USD/CHF, USD/CAD, cross pairs). Always recalculate before trading at a new price level.
Contract Size
The total units in one standard lot. Forex: 100,000 units. Gold: 100 troy oz. Silver: 5,000 oz. Oil: 1,000 barrels. Indices: 1 contract (broker specific).
Spread Cost
The difference between bid and ask prices — effectively the cost to enter a trade. At $10/pip, a 1.5 pip spread costs $15 per standard lot. Always factor this into your risk.
Pip vs Point
A pip is the 4th decimal (or 2nd for JPY). A point is the 5th decimal — sometimes called a pipette. Brokers quoting 5 decimals use points; divide by 10 to get pips.
Pip Value Reference

Complete Pip Value Reference

All pip values shown for 1 standard lot on a USD account. Mini lot = ÷10. Micro lot = ÷100. Values marked ~ fluctuate with the market.

All Instruments

Symbol Name Type Pip Size Contract 1 Std Lot 1 Mini 1 Micro