# Pip Value Calculator > Free forex pip value calculator. Work out what one pip is worth in US dollars for any lot size and currency pair, including JPY pairs and crosses. Source: https://learn.tradelabsai.com/tools/pip-value-calculator/ Track: Calculators · Level: Beginner · Updated: 2026-10-03 Publisher: TradeLabs AI (https://tradelabsai.com). Education, not financial advice. Cite as: TradeLabs Learn, "Pip Value Calculator", https://learn.tradelabsai.com/tools/pip-value-calculator/ In forex, profits and losses are counted in pips, the standard unit of price movement. But a pip is not worth the same amount on every trade: it depends on the currency pair, the size of your position and the exchange rate to your account currency. This calculator converts a pip into US dollars so you can size positions and set stops in money terms. It handles the three common cases: pairs where the US dollar is the quote currency, pairs where it is the base currency, and crosses that do not include the dollar at all. ## Calculator *Interactive calculator: use it at https://learn.tradelabsai.com/tools/pip-value-calculator/* ## How it works ``` Pip value in quote currency = Units × Pip size USD is the quote: Pip value (USD) = Units × Pip size USD is the base: Pip value (USD) = Units × Pip size / Pair price Cross pair: Pip value (USD) = Units × Pip size × (Quote currency to USD rate) ``` The quote currency is the second currency in the pair. A pip on EUR/USD is a change of 0.0001 in US dollars per euro, so the pip value is naturally in dollars. For USD/JPY, the pip is in yen and must be converted. See [Pips and Pipettes](https://learn.tradelabsai.com/forex/pips-and-pipettes/) and [Currency Pairs: Majors, Minors and Exotics](https://learn.tradelabsai.com/forex/currency-pairs/). **Example: Three pip values for one standard lot** For 100,000 units of EUR/USD, a pip is 100,000 times 0.0001, or $10. For 100,000 units of USD/JPY at 150.00, a pip is 100,000 times 0.01, or 1,000 yen, which is 1,000 divided by 150, about $6.67. For 100,000 units of EUR/GBP, a pip is 10 pounds; with GBP/USD at 1.27, that is $12.70. A 20 pip stop therefore risks about $200, $133 or $254 respectively on the same lot size. See [Lots: Standard, Mini and Micro](https://learn.tradelabsai.com/forex/lots-standard-mini-and-micro/). ## Lot sizes and pip values on EUR/USD | Lot | Units | Pip value | |---|---|---| | Standard | 100,000 | $10 | | Mini | 10,000 | $1 | | Micro | 1,000 | $0.10 | | Nano (some brokers) | 100 | $0.01 | ## From pip value to position size To risk a fixed amount on a trade, divide the money you are willing to lose by the stop distance in pips times the pip value per unit. For example, risking $100 with a 25 pip stop on EUR/USD means $4 per pip, which is 40,000 units, or 0.4 standard lots. The [Position Size Calculator](https://learn.tradelabsai.com/tools/position-size-calculator/) does the same job with prices instead of pips. ## Things to watch 1. **Pip values change with exchange rates** for pairs where the dollar is the base or absent. 2. **Pipettes:** many brokers quote a fifth decimal (or third for JPY pairs); one pip equals ten pipettes. 3. **Account currency:** if your account is in euros or pounds, convert the result again. 4. **Spread costs** are also measured in pips; a 1.2 pip spread on a standard lot costs about $12 per round trip on EUR/USD. See [Spread Costs](https://learn.tradelabsai.com/orders/spread-costs/). 5. **Leverage:** small pip values on large lots still add up quickly. See [Leverage and Margin in Forex](https://learn.tradelabsai.com/forex/leverage-and-margin-in-forex/). ## Frequently asked questions ### How much is one pip worth? On EUR/USD and other pairs quoted in US dollars, one pip on a standard lot of 100,000 units is worth $10; other pairs vary with exchange rates. ### What is a pip on USD/JPY? A change of 0.01 in the price; on 100,000 units it is 1,000 yen, which converts to dollars at the current USD/JPY rate. ### Why does pip value change? When the quote currency is not the US dollar, the dollar value of a pip moves with the exchange rate between the quote currency and the dollar. Next, convert futures ticks into money with the [Futures Tick Value Calculator](https://learn.tradelabsai.com/tools/futures-tick-value-calculator/). ## Continue learning - Next lesson: [Futures Tick Value Calculator](https://learn.tradelabsai.com/tools/futures-tick-value-calculator/) - Previous lesson: [Risk/Reward Calculator](https://learn.tradelabsai.com/tools/risk-reward-calculator/) - Related: [Risk/Reward Calculator](https://learn.tradelabsai.com/tools/risk-reward-calculator/): Free risk reward calculator. Enter entry, stop and target prices to get the reward to risk ratio and the win rate you need to break even. - Related: [Pips and Pipettes](https://learn.tradelabsai.com/forex/pips-and-pipettes/): A pip is the standard unit of movement in a currency pair; a pipette is a tenth of a pip. Learn pip sizes, how to calculate pip value and convert pips to money. - Related: [Lots: Standard, Mini and Micro](https://learn.tradelabsai.com/forex/lots-standard-mini-and-micro/): Forex positions are measured in lots. Learn standard, mini, micro and nano lot sizes, their pip values, the exposure they create and how to choose the right size. - Related: [Currency Pairs: Majors, Minors and Exotics](https://learn.tradelabsai.com/forex/currency-pairs/): Forex trades currencies in pairs, like EUR/USD. Learn base and quote currencies, how to read a quote, majors, crosses and exotics, and what moves each pair. - Related: [Forex Trading](https://learn.tradelabsai.com/markets/forex-trading/): How forex trading works in practice: choosing pairs, lot sizes, pips, leverage, sessions, costs and risk management, with a fully worked EUR/USD trade. - Related: [Position Size Calculator](https://learn.tradelabsai.com/tools/position-size-calculator/): Free position size calculator. Enter your account size, risk percentage, entry and stop to see how many shares, contracts or coins to trade.