Pip value calculator
This pip calculator converts a one-pip move into US dollars for the pair and position size you enter. Knowing that number before a trade tells you how much a stop-loss or target is worth in money rather than in chart distance, which is the first step in sizing any position sensibly.
How the pip calculator works
Pip value (USD) = pip value in quote currency × USD value of one unit of the quote currency
Units = lots × 100,000 (or × 100 oz for gold)
The pip size is 0.0001 for most pairs and 0.01 for yen pairs. When the US dollar is the quote currency, the result is already in dollars. When the dollar is the base currency, divide by the current rate. For crosses such as EUR/GBP, the calculator asks for the rate that converts the quote currency into dollars.
Worked examples
- EUR/USD, 2 lots: 0.0001 × 200,000 = $20 per pip.
- USD/JPY, 1 lot at 150.00: 0.01 × 100,000 = 1,000 yen; 1,000 ÷ 150 ≈ $6.67 per pip.
- EUR/GBP, 1 lot, with GBP/USD at 1.27: 0.0001 × 100,000 = £10; £10 × 1.27 = $12.70 per pip.
- XAU/USD, 1 lot (100 oz): this calculator treats a gold pip as $0.01, so 100 × $0.01 = $1 per pip. Platforms describe gold moves differently, so check how yours defines a pip or point.
All figures are illustrative and use round rates; live results change as exchange rates move.
Reading the result
Multiply the pip value by your stop distance to find the loss if the stop is hit. A 25-pip stop on 2 lots of EUR/USD is 25 × $20 = $500. If that is more than you are prepared to lose, reduce the size, not the stop: the stop belongs where the trade idea is proven wrong. The position size calculator reverses this calculation for you, and the forex guide explains pips and lots in context.