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Pip Calculator
Pick a pair and a lot size to see what 1 pip is worth in dollars, and what your stop loss costs before you place the trade. Works for majors, yen pairs, crosses and gold.
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
FAQs - Pip Calculator
Pip values, lot sizes and how to size your risk per trade in dollars.
A pip calculator multiplies the size of one pip (0.0001 for most pairs, 0.01 for yen pairs) by the contract size of your position (100,000 units per standard lot), then converts the result into dollars. For a USD-quoted pair like EUR/USD that is 0.0001 × 100,000 = $10 per pip per standard lot. For USD/JPY at 150 it is 0.01 × 100,000 ÷ 150 = $6.67.
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.
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.
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.
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.
Gold is quoted in dollars per ounce rather than as a currency pair, so its "pip" is typically the second decimal place ($0.01) rather than the fourth. Because XAU/USD is USD-quoted, the dollar value per 0.01 move is fixed per lot size the same way a USD-quote forex pair is, but the lot size definition and broker contract size can vary - always check your broker specification before sizing a trade.
Only for pairs where USD is the base currency, like USD/JPY or USD/CAD - their pip value shifts slightly as the rate moves because you are dividing by the current price. For USD-quote pairs like EUR/USD or GBP/USD, pip value per standard lot stays fixed at $10 regardless of where the rate is.
Pip value scales linearly with lot size - a mini lot (0.10) has one tenth the pip value of a standard lot, and a micro lot (0.01) has one hundredth. Trading smaller lot sizes is one of the simplest ways to reduce dollar risk per trade while keeping your stop distance and strategy exactly the same.
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The best prop firm for futures trading will offer access to CME or exchange-listed contracts, clear rules around leverage and contract limits, and a payout structure suitable for high-frequency or systematic futures strategies. Futures prop firms often operate differently from forex-focused ones, with different fee structures and account types. Prop Firm Pal includes futures-focused firms in its comparisons so you can evaluate which programs support your preferred instruments and trading approach.
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