What this pip calculator does
A pip calculator answers two questions every trader asks before and after a trade: how many pips did price move, and what is that move worth in money? Enter an entry price and an exit (or stop or target) price, choose the instrument and lot size, and the calculator returns the pip distance and its value in your account currency.
It works for forex pairs, JPY pairs and gold (XAUUSD).
What is a pip?
A pip is the standard unit used to measure a price change. For most forex pairs a pip is the fourth decimal place, 0.0001. For pairs quoted in Japanese yen, such as USDJPY or GBPJPY, a pip is the second decimal place, 0.01.
Most brokers quote one extra digit. That fifth decimal (or third on JPY pairs) is a point, or fractional pip, and 10 points equal 1 pip. If your platform shows EURUSD moving from 1.08250 to 1.08260, that is 10 points, or 1 pip.
Lot sizes follow a fixed convention in forex:
- 1 standard lot = 100,000 units of the base currency
- 0.1 lot (mini) = 10,000 units
- 0.01 lot (micro) = 1,000 units
Pips on JPY pairs
Because yen pairs are quoted with only two or three decimals, the pip is 0.01. A move on USDJPY from 149.20 to 150.05 is 0.85 in price, which is 85 pips. Mixing this up with the 0.0001 rule is the most common counting mistake, and it makes results 100 times too large or too small.
Pips on gold (XAUUSD)
Gold is quoted in US dollars per ounce with two decimals, and 1 lot is 100 ounces. Most retail traders call a $0.10 move one pip ($10 per lot) and a $0.01 move one point ($1 per lot). A full $1 move is therefore 10 pips, worth $100 per lot.
Be aware that some brokers and trading educators call $0.01 a pip instead. Under that convention the same move shows 10 times more "pips", although the money value does not change. This calculator uses $0.10 as the gold pip, so always compare dollar values rather than pip counts when you read gold analysis from different sources.
The formula
Pips = |Exit price − Entry price| ÷ Pip size
Pip value = Lots × Contract size × Pip size (in the quote currency)
Value of move = Pips × Pip value (converted to account currency)
Pip size: 0.0001 (most pairs) | 0.01 (JPY pairs) | 0.10 (gold)
If the quote currency is not your account currency, the calculator converts the result at the current exchange rate.
Worked example: EURUSD, USDJPY and gold
EURUSD. You buy 0.5 lot at 1.08250 and price reaches 1.08730.
- Pips: (1.08730 − 1.08250) ÷ 0.0001 = 48 pips
- Pip value: 0.5 × 100,000 × 0.0001 = $5 per pip
- Value of the move: 48 × $5 = $240
USDJPY. Price moves from 149.20 to 150.05.
- Pips: 0.85 ÷ 0.01 = 85 pips
- Pip value for 1 lot: 100,000 × 0.01 = 1,000 JPY. With USDJPY at 150, that is 1,000 ÷ 150 = $6.67 per pip in a USD account.
XAUUSD. You buy 0.2 lot of gold at 4,012.30 and it rises to 4,024.80.
- Pips: 12.50 ÷ 0.10 = 125 pips (or 1,250 points)
- Pip value: 0.2 × 100 × 0.10 = $2 per pip
- Value of the move: 125 × $2 = $250
Pip counts alone tell you little; pip value links them to your account.
How to use this calculator
- Select the instrument, for example EURUSD, USDJPY or XAUUSD.
- Enter the first price (entry) and the second price (exit, stop loss or take profit).
- Enter your lot size, such as 0.01, 0.1 or 1.
- Choose your account currency.
- Read the pip distance, the pip value per pip and the total value of the move.
If you only need the money value of one pip for different position sizes, the pip value calculator is quicker. To turn a pip distance into a safe lot size, use the position size calculator.
Why pip counting matters
Pips are the common language of stops, targets and spreads. Converting them into money before you place an order shows whether the trade fits your risk plan. The profit calculator does the same for complete trades, including sells.
Frequently asked questions
How many pips is 1.0850 to 1.0900 on EURUSD?
The difference is 0.0050. Divided by the pip size of 0.0001, that is 50 pips. On a 1 lot position that move is worth $500.
Why are JPY pairs measured in 0.01?
The yen has a much lower unit value than currencies like the dollar or euro, so pairs quoted in yen use fewer decimals. The pip is set at 0.01 to keep pip values on JPY pairs in a similar range to other pairs.
What is the difference between a pip and a point?
On a 5-digit forex quote, a point is the smallest step (0.00001) and a pip is ten points (0.0001). On gold, the common convention is a point of $0.01 and a pip of $0.10.
Is a gold pip 0.01 or 0.10?
Both conventions exist. Most retail traders use $0.10 per pip, which is $10 per standard lot. Some brokers call $0.01 a pip. Check how your broker defines it and compare money values to avoid confusion.
Does the pip value change with my account currency?
Yes. A pip on EURUSD is always $10 per lot, but in a EUR or GBP account it is converted at the current rate, so the value moves slightly as exchange rates change.
Closing note
Counting pips correctly is the base of every other trading calculation, from stop placement to margin and risk. Use the calculator before each trade so you know exactly what a move will mean for your account.
Trading leveraged products carries a high risk of loss. Results are estimates; check your broker's contract specifications.