Pip Calculator
Calculate the value of a pip for any currency pair, account currency, and position size. Essential for proper risk management.
What is a pip? A pip (percentage in point) is the smallest standard price movement in a currency pair. For most pairs it is 0.0001; for JPY pairs it is 0.01. For gold (XAU/USD) it is 0.01 ($1 per pip per 1 oz).
How is pip value calculated? Pip value = pip size x contract size x lot size, then converted to your account currency at the current exchange rate.
Metals note: Gold (XAU/USD) uses a 100 oz contract. Silver (XAG/USD) uses a 5,000 oz contract. Pip sizes differ from forex.
Rates: Mid-market reference rates, refreshed daily. Your broker quotes a bid/ask spread around this, so their pip value in your account currency can differ slightly.