Free trading tool · works in your browser, nothing is saved or sent
Pip value calculator
Work out what one pip is worth in pounds, dollars or euros for any lot size on GBPUSD, EURUSD, USDJPY and the other major pairs. Free, no sign up.
What a pip is
A pip is the standard step a currency price moves in. On most pairs it is the fourth decimal place (0.0001). On yen pairs such as USDJPY it is the second (0.01). Many brokers show a fifth digit too: that is a tenth of a pip, sometimes called a pipette. Our guide what is a pip goes through it step by step.
Why the value changes
A pip on one standard lot is always worth 10 units of the quote currency (the second one in the pair). For GBPUSD and EURUSD that is 10 dollars. If your account is in pounds, the calculator converts those dollars at the current GBPUSD price, which is why the pound value moves a little every day.
For pairs quoted in another currency, such as USDJPY, the value is converted twice: from yen to dollars, then to your account currency.
Questions people ask
How much is a pip worth on GBPUSD in pounds?
On one standard lot a pip is 10 US dollars, which is about £7.50 to £8 depending on the exchange rate. On a micro lot (0.01) it is roughly 7 to 8 pence.
Is a pip the same as a point?
Not always. Some platforms call a pip a point, and others call the fifth decimal (a tenth of a pip) a point. Check which your broker uses before setting a stop in points.
Tools and terms for this page
Glossary: Pip
Results are estimates for education only. Your broker’s figures, spreads and commission decide the real numbers.