Pip value calculator for forex, gold and indices

A pip is worth pip size × contract size × lot size, converted into your account currency. On EURUSD with a USD account that is $10 per pip for 1.00 lot, $1 for 0.10 lot and $0.10 for 0.01 lot.

The calculator above works it out for 28 currency pairs, gold, silver, four index CFDs and bitcoin, in 16 account currencies. It shows the value of one pip and one point at your lot size, the same for 1.00, 0.10 and 0.01 lot, and the value of a move of any size.

How it works

Every price move is paid in the instrument’s quote currency: US dollars for EURUSD and gold, yen for GBPJPY, euros for GER40. The calculator prices one pip in that currency, then converts it into your account currency with one exchange rate.

That rate is prefilled from the ECB reference rates and shown with its date. You can type today’s price over it. If the instrument is quoted in your account currency, no rate is needed and none is shown.

The pip value formula

pip value = pip size × contract size
            × lots × conversion rate

The conversion rate is 1 when the quote currency is your account currency. Otherwise it is the price of the pair linking the two. For EURGBP on a USD account you multiply by GBPUSD; for EURUSD on a EUR account you divide by EURUSD.

A point uses the same formula with the point size. On 5-digit forex prices one pip is 10 points, so a point is worth a tenth of a pip.

Worked examples

These are before spread, commission and swap. A move is worth the same whichever way it goes.

Pip values of the major pairs

Per 1.00 lot at the ECB reference rates of 30 Sep 2026, the rates the calculator was prefilled with that day. Divide by 10 for 0.10 lot and by 100 for 0.01 lot. The pairs quoted in US dollars share a row.

Rates move every day, so these drift. For a trade, use the calculator with today’s price.

Gold pip values

Most brokers quote gold to $0.01 in MT5. Some brokers and calculators call $0.01 a pip, others call $0.10 a pip, so the table shows both, and a whole dollar, at the usual 100 oz contract:

Silver is usually 5,000 oz per lot, so a $0.01 move is $50 on 1.00 lot. Check your broker’s contract size for both.

Common mistakes

• Units instead of lots. 1.00 lot of forex is 100,000 units, so 10,000 units is 0.10 lot. Typed as “10,000 lots”, the same trade looks 100,000 times larger.
• Assuming $10 a pip everywhere. That holds only for pairs quoted in US dollars on a USD account. USDJPY, USDCHF and every cross differ.
• Mixing pips and points. A 5-digit price has 10 points to the pip.
• Guessing an index’s value per point. $1 and $10 per point are both common, so the calculator makes you choose.

To turn a pip value into a lot size for a given risk and stop, use the position size calculator.

How PipWarden handles this

PipWarden does not use textbook pip values. For every order it uses the tick size, tick value and volume step that MT5 reports for the symbol at your broker, sizes the trade from your risk limit, rounds down, and skips a trade that would need less than the minimum lot rather than raising the risk. Limits are checked before every order.

Open trades still run to their own stops, and gaps or slippage can make a loss larger than planned. PipWarden runs in MT5 on a Windows PC or VPS with a broker that allows Expert Advisors, not on a phone. See how it works, the features and which brokers work, and read the risk disclosure.