Pip value calculator

A pip's value is the position size multiplied by the pip size, in the quote currency of the pair. For 100,000 units of a pair with a 0.0001 pip, one pip is worth 10 in the quote currency. If your account is in another currency, multiply by the quote-to-account exchange rate.

Pip value (quote currency): 10
Pip value (account currency): 10

How it is calculated

Pip value (quote) = units × pip size
Pip value (account) = pip value (quote) × quote-to-account rate

Worked example

100,000 units × 0.0001 = 10 per pip in the quote currency. For a JPY pair (0.01 pip) and an account in USD at 150 JPY per USD: 100,000 × 0.01 = 1,000 JPY ÷ 150 = 6.67 USD per pip.

Educational maths only. Not investment advice.

Questions

What is a pipette?

A tenth of a pip (the fifth decimal on most pairs). Brokers often quote prices to pipettes.

Why does pip value change?

When the quote currency differs from your account currency, the conversion rate moves, so the value in your account currency moves too.

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Pip value calculator