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What Is the Difference Between Pip and Point in Forex?
What is the difference between pip and point in forex? Learn the exact distinction, with real examples and forex pip calculation tips.
Pip calculator
What a one-pip move is worth on your position, in the currency your account is held in.
Result
Value of one pip
10.00USD
On 1.00 lot of EUR/USD: 100,000 EUR.
- Pip size
- 0.0001
- Standard lot (100,000)
- 10.00 USD
- Mini lot (10,000)
- 1.00 USD
- Micro lot (1,000)
- 0.1000 USD
No exchange rate needed: the figures are already in USD.
Exchange rates: ECB reference rates, Oct 16. Reference rates are set once each business day, so results can differ slightly from a broker's live price. Everything is calculated in your browser; nothing you enter is sent anywhere.
How it is calculated
A pip is the conventional smallest step in a currency price: 0.0001 for most pairs, and 0.01 when the Japanese yen is the quote currency — the second currency in the pair. A one-pip move changes the value of a position by a fixed amount of that quote currency.
pip value = pip size × units × (account currency per unit of quote currency)
One standard lot is 100,000 units of the base currency; a mini lot is 10,000 and a micro lot 1,000. When the quote currency is your account currency, no exchange rate is involved. Otherwise the calculator converts at the latest rate shown beneath it.
Worked example
- EUR/USD, one standard lot, US dollar account: 0.0001 × 100,000 = 10 US dollars a pip.
- USD/JPY, one standard lot: 0.01 × 100,000 = 1,000 yen a pip. At a USD/JPY price of 150.00, that is 1,000 ÷ 150 = 6.67 US dollars.
Risk. These calculators do arithmetic on the figures you enter. They are not advice, and they leave out spreads, commission, financing and slippage. Trading leveraged currency products carries a high risk of loss. Read our financial disclaimer.