Pip value table: what one pip is worth per lot size

For pairs quoted in USD — EUR/USD, GBP/USD, AUD/USD, NZD/USD — one pip is worth $10 per standard lot, $1 per mini lot, and $0.10 per micro lot. For USD/JPY, USD/CAD, and USD/CHF, the pip value floats: divide the quote-currency pip value by the current exchange rate.

The pip value table

Pip values come in two flavors. When the US dollar is the quote currency (the second symbol in the pair), pip value in a USD account is fixed. When the dollar is the base currency (first symbol), pip value floats with the exchange rate, so the numbers below are examples at a stated rate — your broker's ticket will show the live figure.

Fixed pip values (USD is the quote currency)

Pair	Pip size	Standard lot (100,000)	Mini lot (10,000)	Micro lot (1,000)
EUR/USD	0.0001	$10.00	$1.00	$0.10
GBP/USD	0.0001	$10.00	$1.00	$0.10
AUD/USD	0.0001	$10.00	$1.00	$0.10
NZD/USD	0.0001	$10.00	$1.00	$0.10

These four are fixed in a USD-denominated account because the pip itself is denominated in dollars: 0.0001 × 100,000 units = $10, regardless of where the pair is trading.

Floating pip values (USD is the base currency)

Here the pip is denominated in the foreign currency, so you convert it back to dollars by dividing by the current rate. These rows are worked examples at the stated rate, not fixed constants:

Pair	Pip size	Example rate	Standard lot	Mini lot	Micro lot
USD/JPY	0.01	at a rate of 155.00	$6.45	$0.65	$0.06
USD/CAD	0.0001	at a rate of 1.3700	$7.30	$0.73	$0.07
USD/CHF	0.0001	at a rate of 0.8900	$11.24	$1.12	$0.11

Skip the arithmetic: our free forex pip calculator computes pip value and total pip risk for any of these pairs at whatever rate you type in.

The formula behind the table

One formula generates every cell above:

Pip value (in the quote currency) = pip size × position size. If the quote currency is not your account currency, convert: divide by the pair's rate when your account currency is the base.

Find the pip size. It is 0.0001 for most pairs and 0.01 for JPY pairs (see what a pip is).
Multiply by position size. A standard lot is 100,000 units; mini is 10,000; micro is 1,000.
Convert to your account currency if needed. For a USD account trading USD/JPY, USD/CAD, or USD/CHF, divide by the current rate.

Worked example: USD/JPY at a rate of 155.00

Pip size for a JPY pair = 0.01 yen per unit.
Standard lot: 0.01 × 100,000 = ¥1,000 per pip.
Convert to dollars: ¥1,000 ÷ 155.00 = $6.45 per pip.
If USD/JPY later trades at 150.00, the same lot is worth ¥1,000 ÷ 150.00 = $6.67 per pip — the value floats as the rate moves.

Worked example: USD/CAD at a rate of 1.3700

Pip size = 0.0001, so a standard lot is 0.0001 × 100,000 = C$10 per pip.
Convert: C$10 ÷ 1.3700 = $7.30 per pip.
Mini lot: C$1 ÷ 1.3700 = $0.73. Micro lot: about $0.07.

Why the table matters: sizing risk in dollars

Pip value is the bridge between a chart distance and a dollar amount. Suppose you plan a EUR/USD trade with a 25-pip stop-loss. On one mini lot, that stop risks 25 × $1 = $25. On one standard lot, the identical chart setup risks 25 × $10 = $250 — ten times the loss for the same distance. Traders who size positions before knowing the per-pip value are choosing their risk by accident.

Leverage magnifies both directions, and losses can exceed what you planned when markets gap through a stop. Regulator-published data consistently shows most retail traders lose money — see the sourced figures on our stats pages. Nothing here is financial advice; ClaudeQuantAlgo publishes research and education, including a public, timestamped, loss-inclusive record. Our own published backtest — 161 simulated trades, 46.6% win rate, 0.82 profit factor — was hypothetical and lost money.

Quick rules of thumb

USD-quoted majors: $10 / $1 / $0.10 per pip for standard / mini / micro. Memorize this row.
USD-base pairs: pip value in dollars = (pip size × lot size) ÷ rate. Higher rate, lower pip value.
JPY pairs use a 0.01 pip; everything else in this table uses 0.0001. Many brokers also quote a fifth decimal (a "pipette" = one-tenth of a pip).
Session timing changes spreads and movement, not pip value — see the best time to trade forex.

Common questions

What is a pip value table?

A pip value table lists what one pip of movement is worth in dollars for each major currency pair at each position size. For USD-quoted pairs like EUR/USD, the values are fixed: $10 per standard lot, $1 per mini, $0.10 per micro. For USD-base pairs like USD/JPY, the value floats with the exchange rate.

Why is a pip worth $10 on EUR/USD but not on USD/JPY?

On EUR/USD the pip is denominated in US dollars (0.0001 x 100,000 = $10), so it is fixed in a USD account. On USD/JPY the pip is denominated in yen (0.01 x 100,000 = 1,000 yen), so you divide by the current rate to convert — at a rate of 155.00 that is about $6.45 per standard lot, and the figure changes as the rate moves.

How do I calculate pip value for any pair?

Multiply the pip size (0.0001 for most pairs, 0.01 for JPY pairs) by your position size in units. That gives the pip value in the quote currency. If the quote currency is not your account currency, convert it at the current exchange rate. Our free forex pip calculator at /tools/ does this automatically.

How much money is 50 pips?

It depends entirely on position size. On EUR/USD, 50 pips is $5 on a micro lot, $50 on a mini lot, and $500 on a standard lot. The chart move is identical — the lot size determines the dollar outcome, which is why position sizing is a core part of risk management.

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Last updated 2026-07-15 · ClaudeQuantAlgo Research Desk · research and education only.

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