Forex Pip Calculator
Calculate the pip size and pip value for any currency pair and trade size.
Result
How to Use This Calculator
Choose a currency pair, enter your trade size in units, and — if the pair's quote currency isn't USD — enter the current exchange rate. The pip size, pip value in the quote currency, and pip value in USD update instantly.
How the Calculation Works
A pip is the smallest standard price move for a currency pair: 0.0001 for most pairs, or 0.01 for pairs quoted in Japanese yen. The pip value is how much one pip move is worth for your trade size. If the quote currency isn't USD, that value is converted using the exchange rate you provide.
Formula
Pip value (quote currency) = Pip size × Trade size (units)
Pip value (USD) = Pip value (quote currency) × Exchange rate (USD per 1 quote currency), when quote currency ≠ USD
Example Calculation
For EUR/USD with a 100,000-unit trade size: pip size is 0.0001, so pip value = 0.0001 × 100,000 = $10 (since the quote currency is already USD).
Frequently Asked Questions
Why do JPY pairs use a different pip size?
Yen pairs are quoted with two decimal places instead of four, so one pip equals 0.01 instead of 0.0001.
Do I need to enter an exchange rate for every pair?
Only when the quote currency isn't USD — for example USD/JPY (quote: JPY) or EUR/JPY (quote: JPY). For pairs like EUR/USD, the quote currency is already USD.
Where do I find the current exchange rate?
Your broker's trading platform or any live market-data source. We don't display live rates on this page.
Related Tools
Disclaimer
Why Traders Use a Forex Pip Calculator
A forex pip calculator is one of the most searched-for tools among both new and experienced traders, and for good reason: before you can size a trade or judge a risk, you need to know what a single pip is actually worth. Our pip value calculator answers that instantly for any major or minor currency pair, whether you're trading EUR/USD, GBP/USD, or a JPY pip calculator scenario like USD/JPY or EUR/JPY, where the two-decimal quoting convention changes the pip size from 0.0001 to 0.01.
Many traders search for a "pip calculator online free" because desktop platforms like MetaTrader bury this math several menus deep, or because they're comparing a setup across brokers before ever opening the platform. This tool skips that friction: pick your pair, enter your trade size in units, and — only when the quote currency isn't already USD — enter the current exchange rate, and you'll see the pip value in USD update immediately. Because standard, mini, and micro lots (100,000 / 10,000 / 1,000 units) are the units most brokers quote by default, this pip value calculator doubles as a quick reference for anyone still getting comfortable with forex lot sizes and how they scale.
Pip value is also the building block for two of the other calculators on this site. Once you know what a pip is worth for your pair and trade size, you can plug that number straight into the position size calculator to figure out how many lots to trade for a given risk percentage, or into the profit and loss calculator to estimate a trade's dollar outcome from its entry and exit price. That's a common workflow among traders searching for a complete "forex trading calculator" experience rather than a single-purpose tool — start with pip value, move to position size, then check the risk-to-reward ratio before ever placing a trade.
One thing this calculator deliberately does not do is guess at a live exchange rate. A lot of "free pip calculators" online quietly bake in a stale or approximate rate, which can throw off your numbers by a meaningful margin during volatile sessions. Instead, whenever a rate is required for a non-USD quote currency, you're asked to type it in yourself from your broker or a live data source. It's a small extra step that keeps the pip value calculator mathematically honest rather than just fast.