How Do You Calculate Forex Pip Value in Your Account Currency?

Convert the pip value in two steps

1. Find the cash value in the quote currency. Multiply pip size × contract size per lot × lots. For many forex pairs a pip is 0.0001, while many yen pairs use 0.01. A fractional pip can be the smallest price step on a broker’s display.
2. Convert to your account currency. Multiply by the account currency units received for one quote currency unit. If the rate you have is expressed the other way round, divide by it. Use a factor of 1 if both currencies are the same.

Pip value in account currency = pip size × base units per lot × lots × account currency units per one quote currency unit.

Two examples for a GBP account

Assume both symbols use 100,000 base units per lot. The exchange rates below are hypothetical, and the cash values show price movement before fees.

At those example rates, a 24-pip move is worth GBP 48 on the first position and GBP 18 on the second. The cash effect depends on position size and the conversion rate as well as the pip count.

Check the quote and the contract

Use the applicable conversion rate for the estimate and check how your broker converts realized P&L. In MT5, use the symbol’s contract specification to distinguish its price step from the pip convention. These examples use linear forex pairs. Metals, indices and other contracts can have different calculation methods.

The forex pip value calculator converts the amount with the rate you supply. For the position size calculator, enter the cash pip value per one lot, since that calculator is solving for the number of lots.