Knowing the value of a pip is the foundation of position sizing and risk management. This free pip calculator gives you the per-pip value of a trade in the pair's quote currency — pick the pair type, your trade size, and the lot size, and it updates instantly.
Pip value calculator
Forex pip value
Result is per pip, in the pair's quote currency.
How pip value is calculated
The maths is simple and exact:
pip value = pip size × trade size in units
- Pip size is 0.0001 for most pairs, or 0.01 for JPY pairs.
- Units = lots × units-per-lot (standard 100,000, mini 10,000, micro 1,000).
The result is in the pair's quote currency (the second currency in the pair). For EUR/USD that's US dollars, so on a USD account it's your pip value directly. For a different quote currency, multiply by the current quote-to-account exchange rate — that final step is the only part that needs a live rate.
Worked examples
- 1 standard lot, most pairs: 0.0001 × 100,000 = 10 per pip (e.g. $10 on EUR/USD).
- 1 mini lot, most pairs: 0.0001 × 10,000 = 1 per pip.
- 1 micro lot, most pairs: 0.0001 × 1,000 = 0.10 per pip.
- 1 standard lot, USD/JPY: 0.01 × 100,000 = 1,000 yen per pip (convert to your account currency at the current rate).
Practise position sizing on a free demo
Open a free MT4 demo and test your pip and lot sizing with virtual money before risking real funds.
⚠ Trading forex and CFDs is high-risk and most retail traders lose money. This is not financial advice.
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<iframe src="https://mt4download.com/embed/pip-calculator/" width="100%" height="430" loading="lazy" title="Pip calculator by MT4Download.com" style="border:1px solid #e5e5e5;border-radius:12px"></iframe>It drops in a lightweight, responsive widget that links back here — no tracking, no sign-up.
Related guides
New to the platform? Read what MT4 is. Setting up to practise? See the MT4 demo account guide, or compare the best MT4 brokers.
Frequently asked questions
What is a pip?
A pip is the standard smallest price move in a currency pair — 0.0001 for most pairs, and 0.01 for pairs that include the Japanese yen. Traders measure gains and losses in pips.
How do you calculate pip value?
Pip value = pip size × your trade size in units. For one standard lot (100,000 units) of a pair where the pip is 0.0001, that's 10 units of the quote currency per pip — for example, $10 per pip when the pair is quoted in US dollars.
What is the pip value of one lot?
For most pairs, one standard lot (100,000 units) is worth about 10 of the quote currency per pip, one mini lot (10,000) about 1, and one micro lot (1,000) about 0.10. JPY pairs use a pip of 0.01 and are usually valued in yen.
Is a pip the same as a point?
Not quite. Many brokers quote an extra decimal — a 'point' or 'pipette' — equal to one tenth of a pip. MT4 often shows 5-digit prices where the final digit is a point, not a full pip.
Does this calculator need my account currency?
No. It returns the pip value in the pair's quote currency, which is exact and needs no exchange rate. If your account is in a different currency, multiply the result by the current quote-to-account exchange rate.
Trading foreign exchange and contracts for difference (CFDs) carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. You could lose some or all of your deposited funds; do not trade with money you cannot afford to lose. Past performance is not indicative of future results. Nothing on MT4Download.com is financial, investment, or trading advice. Consider your circumstances and seek independent advice if needed.