What is a pip in forex?
A pip is the standard unit used to describe a small price movement in a currency pair. Most pairs use 0.0001 as one pip, while yen pairs commonly use 0.01. Pip value changes with trade size, the pair traded and the account currency.
How to use this pip calculator
Select the pair type, enter the number of currency units and the planned pip movement. A standard lot is usually 100,000 units, a mini lot 10,000 units and a micro lot 1,000 units. Compare the potential amount at risk with your trading plan before opening a position.
Important limitation
The displayed value is an estimate. Cross-currency conversion, broker pricing, spreads, commissions and account denomination can change the final amount. Confirm the exact pip value in your broker platform.