Pip Calculator

A pip (percentage in point) is the smallest standard price movement in a currency pair. For most forex pairs, one pip equals 0.0001 (the fourth decimal place). For JPY pairs, one pip equals 0.01 (the second decimal place).

For example, if EUR/USD moves from 1.1050 to 1.1051, that is a 1-pip move. If USD/JPY moves from 150.00 to 150.01, that is also a 1-pip move.

Pip values are fundamental to calculating position sizes, managing risk, and understanding profit and loss in forex trading.

Many brokers quote prices to an extra decimal place beyond the standard pip. These fractional pips are called pipettes. A pipette is 1/10th of a pip.

For standard pairs, a pipette is 0.00001 (the fifth decimal place). For JPY pairs, a pipette is 0.001 (the third decimal place). When you see EUR/USD quoted as 1.10503, the "3" is a pipette.

Standard Lot (100,000 units) — The default lot size in forex. One pip on EUR/USD at a standard lot is worth $10. Best suited for well-funded accounts.

Mini Lot (10,000 units) — One-tenth of a standard lot. One pip on EUR/USD at a mini lot is worth $1. A common choice for prop firm challenge accounts.

Micro Lot (1,000 units) — One-hundredth of a standard lot. One pip on EUR/USD at a micro lot is worth $0.10. Ideal for small accounts and precise risk management.

Nano Lot (100 units) — One-thousandth of a standard lot. One pip on EUR/USD at a nano lot is worth $0.01. Offered by some brokers for practice and very small accounts.