i What this calculator does
Measures the distance between two prices in pips and points and turns it into money for your lot size. Enter an entry and a stop or target and it returns the pips between them, the move as a percentage, and what that move is worth in dollars and rand. The instrument type sets the pip size: 0.0001 for standard pairs, 0.01 for JPY pairs, and the common conventions for gold and indices, with a custom option for brokers that differ.
It exists because the question "how many pips is that" comes up before every trade and the arithmetic is easy to get wrong by a factor of ten on JPY pairs and gold. The Pip Value Calculator on this site tells you what one pip is worth; this one tells you how many pips a move is.
Pip conventions differ by broker, especially for gold and indices; the calculator uses the common ones and lets you override the pip size. Not financial advice.
Frequently asked questions
How many pips is a move from 1.0850 to 1.0920?
70 pips: the difference is 0.0070 and a pip on a standard pair is 0.0001. At $10 per pip per lot, that move is worth $700 on one standard lot.
How do pips work on USD/JPY?
A pip is 0.01 because the pair is quoted to two decimals. A move from 150.20 to 150.95 is 75 pips. The value of a pip in dollars is about $6.67 per lot at 150.
What is a pip on gold?
Conventions differ. Many brokers treat $0.01 as a pip and quote $1 per pip per lot (100 oz); others call $0.10 a pip. The calculator's gold setting uses $0.01; use Custom if your broker differs.
What is the difference between a pip and a point?
A point, or pipette, is one tenth of a pip on forex pairs: the fifth decimal on EUR/USD, the third on USD/JPY. On indices a point is the whole unit and there is no pip.
Why does the calculator ask for a lot size?
To turn the distance into money. 70 pips is $700 on one lot and $7 on a micro lot; the same stop can be reasonable or reckless depending on size.
Can I use it for USD/ZAR?
Yes, with the standard pair setting: a pip is 0.0001. Because the pair is quoted in rand, the pip value in dollars is about $0.54 per lot at 18.50; enter that in the pip value field, or use the Pip Value Calculator to find it.
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