How the Pip Value Calculator works
A pip is the standard price step of a currency pair: 0.0001 for most pairs and 0.01 for yen pairs (gold is quoted here in 0.01 steps of a 100-ounce lot). One standard lot is 100,000 units of the base currency, a mini lot 10,000 and a micro lot 1,000.
Formula: pip value = pip size × units ÷ price for USD-based pairs (USD/JPY, USD/CHF, USD/CAD); for pairs quoted in USD (EUR/USD, GBP/USD, AUD/USD) one pip on a standard lot is always $10. Enter 1 for a USD account, or the USD rate of your account currency (e.g. 88 for INR, 0.92 for EUR) to convert.