Pip value calculator for forex, gold and indices
Work out what one pip is worth in your account currency and the value of a multi-pip distance from the contract size, pip size and lots. Free, with no signup.
Use a decimal point. Initial values are an example, not a live quote.
Formula and example
Pip value = units per lot × pip size × lots × exchange rate to the account currency. If your account is in the quote currency (USD in EUR/USD) the rate is 1; if it is in the base currency, divide by the price.
EUR/USD with a USD account: 100,000 units × 0.0001 × 1 lot = 10 USD per pip. A 20-pip distance at 0.5 lots is worth 100,000 × 0.0001 × 0.5 × 20 = 100 USD. In USD/JPY a pip is 0.01; for gold (XAU/USD) many brokers use 100 ounces per lot and 0.01 or 0.1 as a pip, so check your contract specification.
How to interpret the result
- A pip is not the tick: many brokers quote one extra decimal (a pipette). Check the symbol specification in MetaTrader.
- Indices, gold and crypto have no standard pip: use your broker's tick size and tick value.
- Pip value moves with the exchange rate when the account is not in the quote currency.
- To size a position by risk, use the position size calculator.