1.00 = standard, 0.10 = mini, 0.01 = micro
| Lot Type | Size | Pip Value (USD) | Pip Value (GBP)* |
|---|
*GBP values are approximate, based on a GBP/USD rate of ~1.26. Actual values vary with exchange rates.
How Pip Value Is Calculated
A pip (percentage in point) is the smallest standard price move in forex. For most pairs it's 0.0001 (the 4th decimal). For JPY pairs it's 0.01 (the 2nd decimal). For gold (XAU/USD) it's 0.01.
Formula: Pip Value = (Pip Size ÷ Exchange Rate) × Lot Size in units. For pairs where USD is the quote currency (EUR/USD, GBP/USD), one pip on a standard lot always equals $10.
Because pip value depends on the quote currency. For pairs ending in USD, it's straightforward ($10/pip per standard lot). For cross pairs or pairs where USD is the base, the pip value fluctuates with the exchange rate.
A pipette is 1/10th of a pip — the 5th decimal place on most pairs (3rd on JPY pairs). Some brokers quote prices with pipettes for more precision. A pipette on a standard lot of EUR/USD = $1.