Pip value is pip size multiplied by position size in units. One standard lot of a standard pair is 100,000 units and a pip is 0.0001, so a pip is worth 10 units of the quote currency; on a pair quoted in yen the pip is 0.01 against the same 100,000 units, which is 1,000 JPY. Once you know that number, a stop loss stops being a distance on a chart and becomes an amount of money, which is the only form risk can actually be managed in. Pair this with the lot size calculator to turn a risk percentage into the size you should trade, and read the risk management guide for how the two fit together.
Tools
Pip calculator
Pick the pair and the size. The pip value, and what a stop of any length costs you, in the quote currency.
Pip valueLive
Value per pip—
Value per 10 pips—
Position size (units)—
Your stop costs—
Instrument—
Shown in the quote currency of the pair, so USD on any pair ending in USD.
A pip is the unit your risk is measured in
Every stop loss you place is a distance in pips, and every distance is only meaningful once you know what a pip is worth at your size. That is the whole job of this page: turn a stop of twenty pips into an amount of money, before the trade rather than after it.
Value per pipPip size × contract size × lots, in the quote currency.
Position sizeLots × contract size. One standard lot is 100,000 units.
Your stop costsPip value × the stop distance you entered.
Pip size by pair
| Pair type | Pip | One lot |
|---|---|---|
| Standard pair | 0.0001 | 10.00 |
| JPY pair | 0.01 | 1,000 JPY |
How it works
How pip value is calculated
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