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Pip Value Calculator
Calculate the exact dollar value of 1 pip for any currency pair and lot size. Know your risk per pip before you place the trade - essential for staying within prop firm drawdown limits.
Currency pair
Lot size
Stop loss cost (optional)
Stop loss distance (pips)
Pip value (per std lot)
$10.00
Pip value at 1 lot
$10.00
10 pip move
$100.00
20 pip move
$200.00
50 pip move
$500.00
Frequently Asked Questions
What is pip value and why does it matter for prop trading?
Pip value is the dollar amount your account changes by for every 1 pip of price movement at your current lot size. Knowing this is essential for prop firm risk management - your stop loss distance multiplied by pip value tells you exactly how much you are risking per trade.
Why is the pip value different for USD/JPY compared to EUR/USD?
For pairs where USD is the quote currency (EUR/USD, GBP/USD), the pip value is always exactly $10 per standard lot. For pairs where USD is the base currency (USD/JPY), the pip value changes with the exchange rate because you are dividing by the current price.
What is a standard lot, mini lot and micro lot?
A standard lot is 100,000 units of the base currency. A mini lot is 10,000 units (0.1 lots). A micro lot is 1,000 units (0.01 lots). For EUR/USD, 1 standard lot means you are controlling €100,000 worth of EUR/USD. Pip values scale proportionally.
How do I use pip value to calculate my risk per trade?
Risk in dollars = pip value × stop loss distance in pips. For example, if EUR/USD pip value is $10 per standard lot and your stop is 20 pips, risking 1 standard lot means $10 × 20 = $200 risk. For a $100,000 account, that is 0.2% of account risk - well within safe prop firm parameters.
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