Pip Calculator
Calculate pip with our free Pip Calculator. Compare rates, see projections, and make informed financial decisions. Enter your values for instant results.
Reviewed for accuracy by Daniel Agrici, Founder & Lead Developer
Pip Calculator
Calculator
Adjust values & calculateEnter your values below. Every result is computed in your browser — no data is sent to any server.
Formula: Pip Value = Pip Size × Position Size (÷ Exchange Rate for non-USD pairs)
Worked example — Pip value: $10 | 70 pips gained | Profit: $700
Formula
Pip Value = Pip Size × Position Size (÷ Exchange Rate for non-USD pairs)
For USD-quoted pairs, multiply the pip size (0.0001 for most pairs, 0.01 for JPY pairs) by the total position size in units. For pairs not quoted in USD, divide the result by the current exchange rate to convert to your account currency.
Worked Examples
Example 1: Standard Lot EUR/USD
Problem:Calculate the pip value and profit for buying 1 standard lot of EUR/USD at 1.0850 and closing at 1.0920.
Solution:Pip value = 0.0001 × 100,000 = $10 per pip Pips gained = (1.0920 - 1.0850) / 0.0001 = 70 pips Profit = 70 × $10 = $700
Result:Pip value: $10 | 70 pips gained | Profit: $700
Example 2: Mini Lot USD/JPY
Problem:Calculate the pip value for trading 2 mini lots of USD/JPY with the rate at 149.50.
Solution:Position size = 2 × 10,000 = 20,000 units Pip value = 0.01 × 20,000 / 149.50 = $1.34 per pip For JPY pairs, divide by the exchange rate to convert to USD
Result:Pip value: $1.34 per pip for 2 mini lots
Frequently Asked Questions
What is a pip in forex trading?
A pip (Percentage in Point) is the smallest standard price movement in a forex currency pair. For most pairs like EUR/USD, one pip equals 0.0001 (the fourth decimal place). For Japanese Yen pairs like USD/JPY, one pip equals 0.01 (the second decimal place). Pips are used to measure price changes, calculate profits and losses, and determine spread costs. For example, if EUR/USD moves from 1.0850 to 1.0851, that is a one-pip movement.
How is pip value calculated?
Pip value depends on three factors: the currency pair, position size, and account currency. For USD-quoted pairs (like EUR/USD), the formula is: Pip Value = Pip Size × Position Size. For a standard lot (100,000 units) of EUR/USD, one pip = 0.0001 × 100,000 = $10. For a mini lot (10,000 units), one pip = $1. For a micro lot (1,000 units), one pip = $0.10. For non-USD quoted pairs, you must divide by the current exchange rate.
What is the difference between a pip and a pipette?
A pipette (or point) is one-tenth of a pip. Most modern brokers quote prices to 5 decimal places for standard pairs (3 for JPY pairs), with the last digit being a pipette. For example, if EUR/USD moves from 1.08505 to 1.08506, that is a one-pipette movement, or 0.1 pips. Pipettes allow for tighter spreads and more precise pricing but are not commonly used for profit/loss calculations.
How many pips per day do professional traders target?
There is no universal target as it varies by strategy, timeframe, and market conditions. Day traders might target 10-50 pips per trade, scalpers aim for 5-15 pips, and swing traders may target 50-200+ pips over several days. What matters more than pip count is the risk-reward ratio and consistency. A trader making 20 pips per trade with 1:3 risk-reward will outperform one making 50 pips with 1:1 risk-reward. Focus on your edge and proper position sizing rather than pip targets.
How do I calculate profit from pips?
Multiply the number of pips gained or lost by the pip value for your position size. For example, if you buy 1 standard lot of EUR/USD at 1.0850 and sell at 1.0900, you gained 50 pips. At $10 per pip for a standard lot, your profit is 50 × $10 = $500. For a mini lot, it would be 50 × $1 = $50. Always factor in spread costs — if the spread is 1.5 pips, your net gain is 48.5 pips, not 50.
What is a pipette and how does it relate to a pip?
A pipette is one-tenth of a pip, representing the fifth decimal place for most pairs (0.00001) or the third decimal place for JPY pairs (0.001). Many brokers now quote prices in pipettes for tighter spreads. Ten pipettes equal one pip.
References
Reviewed for accuracy by Daniel Agrici, Founder & Lead Developer · Editorial policy
Related Calculators
🧮Forex Margin Calculator
Calculate forex margin with inputs, formulas, and instant results.
🧮Forex Profit Calculator
Calculate forex profit with inputs, formulas, and instant results.
🧮Spread Cost Calculator
Calculate spread cost with inputs, formulas, and instant results.
🧮Forex Commission Calculator
Calculate forex commission with inputs, formulas, and instant results.
🧮Currency Pair Correlation Calculator
Calculate currency pair correlation with inputs, formulas, and instant results.
🧮Pip to Dollar Converter
Calculate pip to dollar converter with inputs, formulas, and instant results.
🧮Trading Journal Analyzer
Calculate trading journal analyzer with inputs, formulas, and instant results.
🧮Gold Xau Pip Calculator
Calculate pip value and position size specifically for XAUUSD gold trading.