A pip is the standard smallest price move on a currency pair, but its cash value depends on the pair, your lot size and your account currency. Pick your pair below for a ready-made calculator and the exact pip value, or use the general calculator for any instrument.
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For a standard 100,000-unit lot, one pip is worth 10 units of the quote currency on a non-JPY pair (for example $10 on EUR/USD) and 1,000 yen on a JPY pair. Scale that down for mini lots (one tenth) and micro lots (one hundredth), then convert into your account currency at the prevailing rate. Each pair page above bakes in the right pip size and shows the per-lot values, so you only enter your position.
Frequently asked questions
What is one pip worth on EUR/USD?
On a standard lot, one EUR/USD pip is worth $10 (10 USD). A mini lot is $1 per pip and a micro lot $0.10. For a non-USD account, convert at the USD→account rate.
Why do JPY pairs have a different pip value?
For the standard convention used here, one pip on JPY pairs is 0.01 rather than 0.0001. A platform can display an additional fractional-pip digit. A standard lot is worth 1,000 JPY per pip, which you then convert to your account currency.
Does pip value change with leverage?
No. Pip value depends only on lot size, the pair and your account currency. Leverage changes the margin you post, not what a pip is worth.
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Editor-in-chief, ForexMechanics.com • Macro & FX analyst
Independent analyst and practitioner with over 20 years of experience in financial markets. Actively involved in Forex since 2007, with a focus on fundamental analysis, OTC market structure, and disciplined capital risk management.
Creator and editor-in-chief of MyBank.pl, providing reliable financial education since 2004.
Author of hundreds of in-depth market commentaries, structural analyses, and educational materials for traders and investors.
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All content is educational and informational only – it does not constitute investment advice or a recommendation. Remember: leveraged trading (Forex/CFD) carries a high risk of rapid capital loss.
