What is a pip?
A pip is the standard step of price movement: 0.0001 on most currency pairs and 0.01 on JPY pairs. Most platforms quote one more digit, called a point, which is one tenth of a pip. On gold a pip is usually 0.10, and on indices traders count whole points.
Pip value = Pip size × Contract size × Lots
This gives the value in the quote currency. When the quote currency is not your account currency, the calculator converts it at the latest rate.
Pip values at a glance
Value of one pip on 1 standard lot for a USD account, at late September 2026 rates. The calculator uses the latest rates.
| Instrument | Pip size | Value per pip |
|---|---|---|
| EURUSD, GBPUSD, AUDUSD, NZDUSD | 0.0001 | $10.00 |
| USDJPY at 157.59 | 0.01 | ¥1,000 ≈ $6.35 |
| USDCHF at 0.8283 | 0.0001 | CHF 10 ≈ $12.07 |
| USDCAD at 1.4143 | 0.0001 | CAD 10 ≈ $7.07 |
| XAUUSD (100 oz) | 0.10 | $10.00 |
| XAGUSD (5,000 oz) | 0.01 | $50.00 |
| NAS100 (contract size 1) | 1 point | $1.00 |
Why pip value changes
If the quote currency matches your account currency, as with EURUSD on a USD account, one pip on one lot is always $10. If it does not, as with USDJPY, the pip is worth a fixed amount of yen, and its dollar value moves with the exchange rate.