Pip value calculator (forex, AUD-native)
Calculate exactly what one pip is worth in AUD (or any account currency) on any major or minor currency pair, at any lot size. Built for Australian retail traders. JPY pair conventions handled automatically.
Calculator
Output recalculates instantly. URL updates so you can share or bookmark a specific configuration.
- 10.00 USD (quote ccy)
- 1 standard lot
- 100,000 units of EUR
What is a pip
A pip ("percentage in point") is the smallest standardised price increment in a currency pair. It is the unit traders measure profit, loss, spread, and stop distance in. Without pips, every conversation about cost and risk in forex would have to negotiate decimal places first.
For most pairs, one pip is the fourth decimal place: 0.0001. A move from 1.0850 to 1.0851 in EUR/USD is one pip. For JPY-quoted pairs, one pip is the second decimal place: 0.01. A move from 151.25 to 151.26 in USD/JPY is also one pip.
The reason JPY uses a different decimal is that JPY trades to fewer decimal places than other quote currencies. The percentage magnitude of a one-pip move is approximately the same in both conventions (~0.01 percent of price), so pip-as-a-unit-of-comparison still works across pairs.
Pip value formula
Three steps:
- Pip size: 0.0001 for most pairs, 0.01 for JPY pairs.
- Pip value in quote currency: pip size x units. For one standard lot (100,000 units) of any non-JPY pair, this is exactly 10 of the quote currency. For one standard lot of any JPY-quoted pair, this is 1,000 JPY.
- Convert to account currency: multiply by the FX rate from quote currency to account currency.
Why JPY pairs are different
JPY-quoted pairs (USD/JPY, EUR/JPY, GBP/JPY, AUD/JPY) use 0.01 as the pip size, not 0.0001. This is a quote convention, not a math difference: JPY trades to fewer decimal places than USD, EUR, GBP, or AUD because the absolute value of one Yen is much smaller than the absolute value of one of those other units.
A one-pip move on a one-standard-lot AUD/JPY position is 1,000 JPY (100,000 units x 0.01). At an AUD/JPY rate of 98.92, that converts to roughly $10.11 AUD. The calculator handles this automatically when you select a JPY pair from the dropdown.
Worked examples
Example 1: EUR/USD, AUD account, 1 standard lot
- Pip size: 0.0001 (non-JPY pair)
- Units: 1 lot x 100,000 = 100,000
- Pip value in quote (USD): 0.0001 x 100,000 = $10 USD
- Convert USD to AUD at AUD/USD ≈ 0.6540: $10 / 0.6540 = $15.29 AUD
Example 2: USD/JPY, AUD account, 0.5 standard lot
- Pip size: 0.01 (JPY pair)
- Units: 0.5 lot x 100,000 = 50,000
- Pip value in quote (JPY): 0.01 x 50,000 = 500 JPY
- Convert JPY to AUD at AUD/JPY ≈ 98.92: 500 / 98.92 = $5.05 AUD
Example 3: AUD/USD, AUD account, 1 standard lot
- Pip size: 0.0001
- Units: 100,000
- Pip value in quote (USD): $10 USD
- Convert at AUD/USD ≈ 0.6540: $10 / 0.6540 = $15.29 AUD
Notice that AUD/USD and EUR/USD produce the same AUD pip value at the same lot size: both quote in USD, so the FX conversion math is identical regardless of the base currency.
Standard, mini, micro lots
| Lot type | Units | EUR/USD pip value (AUD acct) | USD/JPY pip value (AUD acct) |
|---|---|---|---|
| Standard (1.00) | 100,000 | ~$15.29 | ~$10.11 |
| Mini (0.10) | 10,000 | ~$1.53 | ~$1.01 |
| Micro (0.01) | 1,000 | ~$0.15 | ~$0.10 |
Most ASIC-licensed retail brokers (FP Markets, Pepperstone, IC Markets, Eightcap) accept positions down to 0.01 lots. Some offer "nano lots" (100 units, 0.001 of a standard lot) for very small accounts, though pip value at that size is rarely meaningful for risk management.
Related calculators
- Position size calculator - convert pip value into the right lot size for your risk envelope.
- Margin calculator - how much margin a position locks up at a given leverage.
Related guides:
- How to trade forex in Australia (step-by-step) - full nine-step framework.
- Forex trading Australia: complete 2026 guide - pip mechanics in market context.
- Best forex brokers in Australia 2026 - broker comparison with raw spreads.
Frequently asked questions
A pip is the smallest standardised price increment in a currency pair quote. For most pairs, it is the fourth decimal place (0.0001). For JPY-quoted pairs, the pip is the second decimal place (0.01) because JPY trades to fewer decimals. A pip move from 1.0850 to 1.0851 in EUR/USD is the same magnitude of percentage move as 151.25 to 151.26 in USD/JPY.
One pip on a one standard lot (100,000 unit) position is worth 10 units of the quote currency. For EUR/USD that is $10 USD, which converts to roughly $15.30 AUD at an AUD/USD rate near 0.65. For pairs already quoted in AUD (EUR/AUD, AUD/JPY, GBP/AUD), one pip on a standard lot is worth $10 AUD directly. For JPY-quoted pairs, one pip on a standard lot is worth 1,000 JPY.
Pip value = (pip size x position size in units) converted to your account currency. For most pairs, pip size is 0.0001. For JPY pairs, pip size is 0.01. Position size in units is lot size x 100,000 (or x 10,000 for a mini lot, x 1,000 for a micro lot). Multiply by the pip size to get the pip value in the quote currency, then convert to your account currency at the current FX rate.
No. A pipette is one-tenth of a pip, used by brokers offering five-decimal price quotes. Most ECN and RAW account types at ASIC-licensed brokers display pipettes for tighter pricing precision. The calculator works in standard pips. Multiply the pipette move by 0.1 to convert.
Pip value is exactly $10 of the quote currency only when your account is in the same currency as the quote. An AUD account trading EUR/USD has pip value in USD that needs converting to AUD, producing a non-round figure. The calculator handles the conversion automatically.
Pip value scales linearly with position size. A standard lot is 100,000 units; a mini lot is 10,000 units (one-tenth pip value); a micro lot is 1,000 units (one-hundredth pip value). If a standard lot of EUR/USD is worth $15.30 AUD per pip, a mini lot is $1.53, a micro lot is $0.15.
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