Pip Calculator: What a Pip Is Worth on Gold, Yen Pairs and Crosses
Forexia Academy7 min read
One pip, this size
$10.00
Per standard lot
$10.00
Per micro lot (0.01)
$0.10
What it assumes: a pip is the fourth decimal, the second in yen pairs, and $1 on gold, as our charts count it. A standard lot is 100,000 units, or 100 ounces of gold. Your broker's contract sizes may differ. A sum, not advice.
The pip calculator on this page works out what one pip is worth on your position, in your account's currency. A pip on one lot of EUR/USD is $10. On 0.10 lots of gold it is $10 as well, and on one lot of USD/JPY at 158.50 it is $6.31. Choose the pair and the size, and the tool does the rest, for seventeen markets, gold among them.
A pip value is arithmetic and not advice. It says what a figure you chose comes to, and nothing about whether a trade is worth taking.
How do you use the pip calculator?
Pick a pair and a size, and read the answer. A price box appears only when a pip on your pair is not paid in your account's currency.
- Pair: one of seventeen, from EUR/USD and USD/JPY to gold (XAU/USD) and crosses such as GBP/JPY.
- Account currency: USD, EUR, GBP, AUD, CAD, JPY or CHF.
- Position size, in lots. 1 is a standard lot, 0.10 a mini and 0.01 a micro.
- Price, if a box for one appears. Its label names the price it wants, and it empties when you change pair, so a price cannot carry over.
The answer is one pip's worth on that position. The conversion rates behind a non-dollar account come from the site's own latest daily closes, and their date is printed under the tool. Nothing you type is kept.
What is a pip worth on each market?
It depends on the pair's second currency, because a pip is always counted in that currency. The prices below are round numbers chosen for the sum, not quotes, and each line is for a dollar account.
| Pair | Price you enter | 1.00 lot | 0.10 lots | 0.01 lots |
|---|---|---|---|---|
| EUR/USD | none | $10.00 | $1.00 | $0.10 |
| USD/JPY | USD/JPY 158.50 | $6.31 | $0.63 | $0.06 |
| GBP/JPY | USD/JPY 158.50 | $6.31 | $0.63 | $0.06 |
| USD/CHF | USD/CHF 0.80 | $12.50 | $1.25 | $0.125 |
| Gold (XAU/USD) | none | $100.00 | $10.00 | $1.00 |
A yen pair. A pip is the second decimal there, 0.01, and the fourth everywhere else. One lot of USD/JPY moves 1,000 yen for each pip, and at 158.50 that is 1,000 ÷ 158.50, or $6.31. The value follows the price: at 150 it is $6.67.
A yen cross. GBP/JPY is paid in yen too, so it asks for USD/JPY's price, not its own. That is why its row matches USD/JPY's. Typing GBP/JPY's own price, near 200, gives a pip about a fifth too small.
A dollars-first pair that is not the yen. On USD/CHF at 0.80 a pip is worth $12.50 a lot, not $10. A trader who assumes $10 sizes every Swiss-franc trade a quarter too large.
How much is a pip on gold?
On our charts $1 of movement is one pip, so a pip is worth $100 on a 100-ounce lot, $10 on 0.10 lots and $1 on 0.01 lots. The calculator counts gold this way, and no price is needed.
Other sources count differently, and there is no single standard. Some call $0.10 a pip and others $0.01, and some brokers' lots are 10 ounces or 1 ounce. The number of pips means nothing until you know whose count it is. Dollars of movement are the same for everyone, and the lot size calculator takes a gold stop in dollars for that reason.
The move in the picture is $63.77, from 4017.16 to 4080.93. On 0.10 lots, at $10 a pip, that is $637.70 of movement. On 0.01 lots it is $63.77. A source that calls $0.10 a pip counts the same move as 638 pips, and one that calls $0.01 a pip counts 6,377.
What does a real day look like in pips?
Here are two days from the site's own candles, from 17:00 to 17:00 New York time, with what the range comes to on a stated size. A range is the distance from the day's high to its low. Nobody trades all of it.
| Market, Friday 6 November 2026 | High | Low | Range | Size | Pip worth | The range, in dollars |
|---|---|---|---|---|---|---|
| EUR/USD | 1.12345 | 1.11309 | 103.6 pips | 0.50 lots | $5.00 | $518.00 |
| USD/JPY | 158.581 | 157.253 | 132.8 pips | 0.10 lots | $0.63 | $83.79 |
EUR/USD's range is 1.12345 minus 1.11309, which is 0.01036, or 103.6 pips. A pip on 0.50 lots is $5, so the range comes to $518. USD/JPY's is 158.581 minus 157.253, which is 1.328 yen, or 132.8 pips. At 158.50 a pip on 0.10 lots is $0.63, so the range comes to $83.79.
A bigger pip count is not a bigger dollar move. USD/JPY ran 29 pips further than EUR/USD that day, on a size one fifth as large, and its range is worth about a sixth of the other.
What if your account is not in dollars?
Choose the account currency, and the tool converts the dollar figure with the site's latest daily close. On a euro account, one lot of EUR/USD is worth $10 a pip, which is €9.09 at EUR/USD 1.10. One lot of USD/JPY at 150 on a sterling account, with GBP/USD at 1.25, is worth £5.33 a pip.
The rate is a day old at best. A pip in a currency that is not yours moves with that currency's price all day, so treat the figure as close, not exact.
How do pips connect to the rest of a trade?
A pip is the unit of a stop and a target, and its worth turns them into money. Take a 20-pip stop on EUR/USD. At $10 a pip on one lot, it costs $200. On 0.10 lots it costs $20. The pip calculator gives the first figure in each pair, and the stop's size is yours.
The same 20 pips on USD/JPY at 158.50 on one lot costs $126.18, and on gold, 20 pips is $20 of movement, which is $2,000 on one lot. That is why a pip count alone never compares two markets. Two trades with the same stop in pips can risk very different sums of money, and the pip calculator is where you see the difference before you size anything.
Which mistakes does a pip calculator catch?
Three come up most. The first is assuming $10 a pip on every pair, which is right only on pairs quoted in dollars. The second is counting gold in someone else's pips, so that a stop of 500 is read as $500 when it is $50 or $5. The third is typing a cross's own price where the tool wants the second currency's, such as GBP/JPY's price in place of USD/JPY's.
Each error changes the pip's worth, and so the size of the trade, by a fifth or by a factor of ten. The tool empties the price box when you change pair, but it cannot know what you meant to type.
What can the pip calculator not tell you?
It makes no claim beyond a pip's worth. Specifically:
- It is not the cost of a trade. Spread, commission, slippage and the cost of holding overnight are left out.
- It uses a standard lot. 100,000 units of the first currency, or 100 ounces of gold. Your broker's specification decides yours.
- It does not read points. A platform's fifth decimal is a point, and ten points make a pip.
- It does not size a trade. For that, give a stop and an amount at risk to the lot size calculator. What a pip means for the margin a trade ties up is on the leverage and margin calculator, and how many pips a pair covers in a day is on the average daily range calculator. The risk-reward calculator turns a stop and a target in pips into a ratio.
Trading leveraged products carries a high risk of losing more than you can afford. Nothing on this page is advice, and a pip value does not make a trade safe.
Frequently asked questions
How do I calculate pip value?
Multiply the pip's size by the contract, then turn the result into your account's currency. On EUR/USD a pip is 0.0001 and a lot is 100,000 units, so a pip is $10 on one lot and $1 on 0.10 lots. On USD/JPY a pip is 0.01 yen, which is 1,000 yen a lot, and the pair's price turns that into dollars: $6.31 at 158.50.
How much is a pip worth on gold?
On our charts $1 of movement is one pip, and a lot is 100 ounces, so a pip is $100 on one lot, $10 on 0.10 lots and $1 on 0.01 lots. Other sources call $0.10 or $0.01 a pip, so check whose count a pip figure is in before you use it.
Why does the pip calculator ask for a price on some pairs?
Because on those pairs a pip is not paid in your account's currency. It is paid in the pair's second currency, and a price turns it into dollars. USD/JPY needs its own price, and a cross such as GBP/JPY needs USD/JPY's, since the yen is its second currency. EUR/USD and gold need none.
What is the difference between a pip and a point?
Many platforms quote a fifth decimal, called a point, and ten points make a pip. A 5-pip move on EUR/USD is 50 points. Mixing the two is a common mistake, because a figure that is right in points is ten times too large in pips.
Does the pip value change as the price moves?
Only when the pair's second currency is not your account's. On EUR/USD in a dollar account a pip stays $10 a lot at any price. On USD/JPY it moves with the price, from $6.67 at 150 to $6.31 at 158.50, so the figure is close, not exact, by the time a trade closes.
