Free Forex Pip Value Calculator

A "pip" is the minimum amount by which a foreign exchange (forex) cross rate may move. For example for GBPUSD 1 pip is 0.0001 and USDJPY 1 pip is 0.01. However, most brokers nowadays give quotes to half pip precision making the minimum move a half pip. Example: EURJPY bid 118.50⁵ offer 115.52⁰. The difference between the two quotes is called the spread and in this example is 1.5 pips or 0.01⁵.

Pip value is proportionate to order/trade size. Pip value stated in the cross currency is not affected by the exchange rate whereas pip value stated in the base currency is affected by exchange rate fluctuations. For example CADUSD has CAD as the base currency and USD as the cross currency and 1 pip is 0.0001. Use the Pip Value Calculator below for your currency pair.