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Use our precise pip calculator for cryptocurrency pairs, forex, indices and metals, using live market rates, account base currency, lot size and traded pair.

## What are Pips in Trading Pips in trading is the definition of the smallest price change a currency pair (and other financial instruments) can make, except for fractions of a pip or "pipettes".

For the majority of the currency pairs, 1 pip is 0.0001. For currency crosses with the Japanese Yen such as the EUR/JPY, 1 pip is 0.01. For metals, Silver and Gold 1 pip is 0.01.

As an example, when the GBP/USD moves up from 1.3935 to 1.3936, the change in price is 1 pip. With 5-digit brokers, if the GBP/USD moves up from 1.39355 to 1.39360, the change in price is half a pip (0.5 pip).

## How to Calculate Pips

Pip values are constant, if the trading account currency is USD. But for trading accounts in other currencies, such as the EUR or the GBP, pip values can vary, depending on the current market rate for the EUR/USD, or GBP/USD, for example.

Pips can be calculated manually, for trading accounts in other currencies, and for any lot size, with the following formula:

Pip Value = (Pip Size / Exchange Rate) * Position Size

For example, we want to calculate the pip value, for a trading account in GBP, for a position size of 1 lot (100,000 currency units) for the GBP/USD cross, currently trading at 1.3935.

Using the above data, we will complete the formula to calculate the pip value:

Pip Value = (0.0001 / 1.3935) * 100,000 = £7.18

Thus, the pip value for 1 lot of GBP/USD, with a market rate of 1.3935, on a GBP trading account, is currently £7.18.

Now you know how to calculate pips manually, for trading accounts in different currencies. But there's a much easier way to calculate pips, for cryptocurrencies crosses, forex, metals and indices. Simply input your data on our Pip Calculator!

### How to Use our Pip Value Calculator

Let's see how to use our pip calculator, field by field, to get the most accurate pip value for the available assets.

Pips: By default, the calculator is set to 1 pip. But it can be changed to calculate fractions of a pip, like 0.5 pip.

Currency pair: Select from the most popular cryptocurrencies (ETH, BTC, LTC, XRP, DOGE, etc.) against the main fiat currencies, or the Major forex crosses, Minor pairs, the most popular indices or Gold/Silver. Let's choose, for example, the GBP/USD.

Lots: One lot in forex is 100,000 currency units, but units per 1 lot vary for non-forex pairs. In the Lot field there's the option of calculating the pip value based on the lots traded or the units traded (check with your broker the contract specifications). Let's choose, for example, a trading size of 10,000 units (0.10 mini lot).

Deposit currency: The pip calculator is ready for most deposit currencies, including accounts in cryptocurrencies and fiat currencies, from AUD to ZAR. We will select GBP as the deposit currency, for our example.

Now, we click the "Calculate" button.

The results: The pip calculator uses live market quotes from the current interbank rate, in a 5-digit format, and it will calculate the current pip value for the selected account base currency, in our example, the GBP.

Thus, for a position size of 0.10 lot of GBP/USD, with a market rate of 1.39355, on a GBP trading account, the pip value is currently £0.7176.