Calculate the dollar value of each pip for any forex pair and lot size. Know your exact dollar risk before placing a trade.
A pip — short for "percentage in point" — is the standard unit of price movement in the foreign exchange market. For most currency pairs it is the fourth decimal place (0.0001); for pairs quoted against the Japanese yen it is the second decimal (0.01). Pips let traders talk about price changes in a consistent way, but on their own they tell you nothing about money. A 30-pip move might be a few dollars or a few hundred, depending entirely on the size of your position. This calculator converts pips into the only thing that matters for risk: actual dollars.
Pip value depends on three things — the pair you are trading, your lot size, and, for some pairs, the current exchange rate. On a standard lot (100,000 units) of most USD-quoted majors such as EUR/USD or GBP/USD, one pip is worth roughly $10. Drop to a mini lot (10,000 units) and it is about $1; a micro lot (1,000 units) is about $0.10. Pairs where the US dollar is the base currency, or crosses that do not involve the dollar at all, require the exchange rate to convert the pip value back into dollars, which is why this tool asks for the current price.
Knowing your pip value is the foundation of forex position sizing. Once you know how much one pip is worth, you can translate any stop-loss distance directly into a dollar risk and choose a lot size that keeps that risk inside your limit. Without it, you are trading blind — guessing at exposure instead of controlling it.
| Pair | Pip Size | Pip Value (Std Lot) |
|---|---|---|
| EUR/USD | 0.0001 | ~$10.00 |
| GBP/USD | 0.0001 | ~$10.00 |
| AUD/USD | 0.0001 | ~$10.00 |
| USD/JPY | 0.01 | ~$9.10 |
| USD/CAD | 0.0001 | ~$7.40 |
| EUR/GBP | 0.0001 | ~$12.70 |
A pip (percentage in point) is the smallest standard price move in forex. For most pairs it's 0.0001 (the 4th decimal). For JPY pairs, it's 0.01 (the 2nd decimal).
For most USD-quoted pairs (EUR/USD, GBP/USD, AUD/USD), 1 pip on a standard lot is exactly $10. For other pairs it varies based on the current exchange rate.
Divide your dollar risk by the pip value to find how many lots you can trade. Example: $100 risk, 20-pip stop, pip value = $10 per standard lot → $100 ÷ (20 × $10) = 0.5 lots.
When the US dollar is not the quote currency — as in USD/CAD, USD/JPY, or USD/CHF — the raw pip value comes out in the quote currency and must be converted back to dollars using the live exchange rate. For USD-quoted majors like EUR/USD the conversion is unnecessary, so the price field has little effect there. Entering an accurate current price keeps the dollar figure correct for those pairs.
Many brokers quote an extra decimal place — a fifth decimal on most pairs, or a third on yen pairs. That smallest digit is a "pipette," one-tenth of a pip. Pipettes give finer pricing but the pip remains the standard unit for measuring stops, targets, and value. This calculator works in whole pips.
The practical workflow is straightforward: decide your dollar risk for the trade, measure your stop-loss distance in pips, and divide the risk by (pip value × stop pips) to get the lot size that keeps you within budget. Doing this every time means your risk stays constant whether you are trading a tight 10-pip scalp or a wide 100-pip swing — the lot size flexes, not your exposure.
Pair this with the Position Size Calculator for the underlying risk-first logic, the Risk/Reward Calculator to confirm the trade is worth taking, and the Margin Calculator to check the position fits your available leverage. Together they turn forex from a guessing game into a controlled, repeatable process.