Pip value calculator

A pip is the smallest conventional price move: 0.0001 on most pairs, 0.01 on yen-quoted ones. That size is read from the instrument sheet, not guessed from the number of decimals displayed.

The value of a pip in the quote currency depends on no rate at all: one pip of EUR/USD is worth 0.0001 dollar per euro held, full stop. A standard lot of 100,000 euros is therefore 10 dollars a pip.

The rate only enters afterwards, to bring that amount back to your account currency. That is why the pip value of a dollar-quoted pair moves on a euro account, while it is fixed on a dollar account.

Standard lot size varies by instrument and by broker — especially on metals, energy and indices, where no universal convention exists.

Some brokers call "pip" what others call "point", a factor of ten apart. The pip size used here is stated in plain sight: compare it with your platform.

On index CFDs the quoting step used is one index point. One contract then corresponds to one index point per contract held.