Online Forex Pip Calculator
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How to use FXTM's Pip Calculator
What is a pip in Forex trading?
A point in percentage – or pip for short – is a unit that measures price change in a forex pair.
It’s the smallest possible move that a currency price can change, which is the equivalent of a ‘point’ of movement.
Pips are typically measured to the fourth decimal place for most currency pairs (0.0001) being 1/100 of 1%, except for those involving the Japanese yen, which are measured to the second decimal place (0.01).
Watch our explainer video: What’s a pip worth in forex trading?Why use the Forex Pip Calculator?
Accurate position sizing
Allows for precise pip value calculations, helping to manage risk per trade consistently.
Time-saving tool
Enhanced risk management
Learning tool
Frequently asked questions
The majority of currency pairs have a standard pip value of 0.0001 and are measured to four decimal places. 1 lot is 100,000 units of a currency.
If you prefer to open smaller positions, you can choose to trade either mini lots (10,000 units) or even micro lots (1000 lots).
This depends on the currency pair that you are trading. If you’re trading the EURUSD, a pip is worth 0.0001, while with the USD/JPY a pip is worth 0.01.
That's why we’ve created our pip calculator. You can see the accurate value of a pip – whatever the amount, or currency – in seconds.
This depends on the currency pair. In our calculator above, enter your currency pair, pip amount and lot size to understand how much 50 pips are worth.
Lots are measured in units of currency, not by pips. Pips are how the exchange rate moves between the currency pair, whereas a lot is 100,000 units of the currency.
This varies based on the currency pair and your account type, which you can learn more about here.
If your broker offers you leverage, your buying power is increased so you could buy even more of an asset and therefore larger lots. While this can boost your potential profits, your losses are greater too.