Tool

Pip value calculator

The value of one pip is the multiplier under every other number you track — the stop in money, the spread in money, the day in money. It is also three conventions multiplied together, and every one of them varies: what a pip is on this instrument, what a lot is at this broker, and which currency the product lands in. This computes the value with all three stated and editable, so the figure can be checked against your own statement rather than taken on faith.

One pip, at your size—
The instrument
Typical value — overwrite it with your broker's. Contract sizes differ, gold especially.
A convention, not a constant: 0.0001 on most pairs, 0.01 on yen pairs, and platforms that quote points make one pip ten of them.
Leave at 1 when your account currency is the instrument's quote currency.
Your size
To state the spread in money at your size. Presets are measured medians from one retail feed, labelled when they load.
One pip at your size—
One pip per standard lot—
Units at your size—
The spread, in money at your size—

A pip is a convention, three times over

The arithmetic is trivial — contract size times pip increment times lots — and every term in it is an election.

The pip increment is 0.0001 on most pairs but 0.01 on yen pairs and 0.1 on gold at most brokers, and platforms that quote in points make one pip ten points, which is the single most common source of a tenfold error. The contract size is 100,000 units on standard FX lots almost everywhere, and then stops being standard: gold trades at 100 ounces per lot at some brokers and other sizes at others. And the product is denominated in the quote currency — dollars on EUR/USD, yen on GBP/JPY — which matches your account only sometimes. Three conventions, all stated above, all editable, because where a figure here disagrees with your account statement, your statement is right.

What the pip value is actually for

It converts distances into money. A stop of twenty-five pips at a known pip value is a loss in currency; a spread of one pip is a cost in currency every round trip; a rule that allows a hundred pips of room is an allowance in currency. That is why this page also prices the spread at your size when you supply one — the cost you pay on every single trade, in the same units as the risk you are planning. The conversion is the entire service; what to do with the converted number is the sizing question, and that lives one calculator over.

What this does not do

It does not fetch live rates — the quote-to-account conversion is a field you control, not an assumption smuggled in as a fact, and on cross-currency accounts the honest source for that rate is your broker's own conversion, which this page cannot know. It does not decide your size: pip value is the multiplier, not the multiplicand. And where no spread is entered, the spread row states its absence rather than inventing a typical figure.

Sizing a position against the loss that actually lands — stop distance plus the round trip — is the position size & lot size calculator, which uses this exact pip arithmetic inside it. The price at which the broker closes the position is the margin and stop-out calculator, and the cost mechanics are defined at execution cost. Carrying the same pip arithmetic through to a closed trade — entry, exit, and the round trip taken out of the result — is the forex profit calculator. The full list is under calculators. And when the inputs cannot support an answer, the panel above refuses and says why rather than rendering a zero — why an instrument refuses to answer is that design, written down.