Pip value
The money gained or lost when price moves one pip for a given position size. One standard lot of a USD-quoted pair is worth about $10 per pip.
For other pairs the value depends on the exchange rate between the quote currency and your account currency.
With real data
Pip value by account currency (EUR/USD, 1 standard lot)
- USD account
- 10.00 USD
- EUR account
- 8.88 EUR
- GBP account
- 7.53 GBP
- JPY account
- 1581.64 JPY
- AUD account
- 14.32 AUD
Calculated from price data up to 6 October 2026.
In practice
A trader with a euro account buys 0.50 lots of GBP/JPY. One pip is 0.01 × 50,000 = 500 yen, which at recent rates is about €2.80. A 40-pip stop therefore risks roughly €110, and the exact figure moves with the yen.
Assuming every pair is worth $10 a pip per lot. That only holds when the quote currency matches your account currency, as with EUR/USD in a dollar account.
Related terms
Pip
The standard unit of price movement in forex. For most pairs a pip…
Lot
A standardised position size. A standard lot is 100,000 units of…
Account currency
The currency your trading account is held in. Profits, losses and…
Quote currency
The second currency in a pair, and the one the price is expressed…
Ask
The price at which the market will sell to you, so it is the price…
Base currency
The first currency in a pair. In GBP/USD it is the pound. Buying…