Pip value is what a one-pip (or one-point) move is worth for a given trade size. Pip value per standard lot = pip size × units per lot, converted to US dollars; on EUR/USD that is 0.0001 × 100,000 = $10.00, so $1.00 for a mini lot and $0.10 for a micro lot.
Pip value = pip size × units per lot, in the quote currency (the second currency of the pair). Then convert it to dollars:
| Instrument | Pip / point | Units per lot | Standard (1.00) | Mini (0.10) | Micro (0.01) |
|---|---|---|---|---|---|
| EUR/USD | 0.0001 | 100,000 | $10.00 | $1.00 | $0.10 |
| GBP/USD | 0.0001 | 100,000 | $10.00 | $1.00 | $0.10 |
| AUD/USD | 0.0001 | 100,000 | $10.00 | $1.00 | $0.10 |
| NZD/USD | 0.0001 | 100,000 | $10.00 | $1.00 | $0.10 |
| USD/JPY | 0.01 | 100,000 | $6.67 | $0.67 | $0.07 |
| USD/CHF | 0.0001 | 100,000 | $11.36 | $1.14 | $0.11 |
| USD/CAD | 0.0001 | 100,000 | $7.30 | $0.73 | $0.07 |
| EUR/JPY | 0.01 | 100,000 | $6.67 | $0.67 | $0.07 |
| GBP/JPY | 0.01 | 100,000 | $6.67 | $0.67 | $0.07 |
| EUR/GBP | 0.0001 | 100,000 | $12.70 | $1.27 | $0.13 |
| Gold (XAUUSD) | 0.1 | 100 | $10.00 | $1.00 | $0.10 |
| Silver (XAGUSD) | 0.01 | 5,000 | $50.00 | $5.00 | $0.50 |
| S&P 500 (US500) | 1 | 1 | $1.00 | $0.10 | $0.01 |
| Dow Jones (US30) | 1 | 1 | $1.00 | $0.10 | $0.01 |
| Nasdaq 100 (NAS100) | 1 | 1 | $1.00 | $0.10 | $0.01 |
| WTI crude oil | 0.01 | 1,000 | $10.00 | $1.00 | $0.10 |
| Bitcoin (BTCUSD) | 1 | 1 | $1.00 | $0.10 | $0.01 |
Values for pairs not quoted in dollars use example prices (USD/JPY 150.00, USD/CHF 0.88, USD/CAD 1.37, GBP/USD 1.27) and move with them; the calculator above uses the price you enter.
Next: turn a pip value into a trade size with the position size calculator, and see how wide each market's 48-hour noise is right now on the market forecast pages.
Multiply the pip size by the units per lot to get the value in the quote currency (the second currency of the pair), then convert it to US dollars: nothing to convert when the quote currency is USD, divide by the price when USD is the base currency, and multiply or divide by the quote currency's dollar rate for a cross.
At 150.00, one pip (0.01) on a standard lot of 100,000 units is 0.01 × 100,000 ÷ 150 = $6.67; a mini lot is $0.67 and a micro lot $0.07. The value moves with the price.
Conventions differ by broker. This calculator uses a 0.10 move on a 100-ounce lot for gold ($10.00 per lot), one index point on one unit per lot for the US indices ($1.00) and one dollar on one bitcoin per lot for Bitcoin ($1.00). Check your broker's contract specification and edit the fields to match.
A mini lot (0.10) is a tenth of a standard lot and a micro lot (0.01) a hundredth, so the pip value is divided by 10 and by 100.