Pip Value in Dollars: EURUSD, USDJPY, Gold and Bitcoin

The value of a pip tells you how much each step in the price adds to or takes from your balance, so it is the number behind every stop-loss you set in pips.

How Much Is 1 Pip Worth in Dollars?

On EURUSD and GBPUSD, 1 pip is worth $10 on 1 lot and $0.10 on 0.01 lot. On USDJPY the same pip is worth less, and gold and Bitcoin are easiest to read as a dollar move.

1 pip in US dollars

	1 lot	0.01 lot
EURUSD	$10	$0.10
GBPUSD	$10	$0.10
USDJPY	$6.31	$0.06
Gold, $1 move	$100	$1
Bitcoin, $1 move	$1	$0.01

On EURUSD and GBPUSD, the dollar is the second currency of the pair, so 1 pip is $0.0001 on every unit you trade. 1 lot is 100,000 units, so 1 pip is worth $10 at any price, and the same is true on AUDUSD and other pairs that end in USD.

0.1 lot sits in between, at $1 per pip. To see what 1 pip is worth on your own lot size and instrument, use the pip calculator.

Why Is 1 Pip on USDJPY Worth Less Than $10?

On USDJPY, 1 pip on 1 lot is 1,000 yen, which was about $6.31 at the price in this guide. The yen is the second currency of the pair, so your platform counts the pip in yen and then turns it into dollars at the USDJPY price.

So the dollar value of a USDJPY pip changes with the price. If USDJPY falls to 150, 1 pip on 1 lot rises to about $6.67, because each dollar then buys fewer yen. EURJPY and GBPJPY also end in yen, so 1 pip on those pairs is worth the same as on USDJPY.

The same rule works on every pair, and a pip can also be worth more than $10. On EURGBP, 1 pip on 1 lot is 10 pounds, which was about $13.25 at the price in this guide.

Why Does Pip Value Matter for Your Stop-Loss?

On 0.1 lot, a 20-pip stop-loss loses less money on USDJPY than on EURUSD, because a USDJPY pip is worth less.

	EURUSD	USDJPY
Loss at a 20-pip stop on 0.1 lot	$20.00	$12.63
Lot size for a $20 loss	0.10 lot	0.16 lot

So if you always trade the same lot size, your risk changes from one pair to the next. Starting from the dollars you are ready to lose keeps the risk the same on every pair. The lot size calculator turns that amount and your stop-loss into a lot size for any pair at today’s price.

What Is 1 Pip Worth on Gold?

On gold, a $1 move in the price is worth $1 on every 0.01 lot, because 0.01 lot of gold is 1 ounce. So 1 lot of gold gains or loses $100 for each $1 move.

On gold, a “pip” can mean two different moves. Some guides call a $0.01 move one pip, and many traders call a $0.10 move one pip, so the same trade can show a pip count ten times larger in one guide than in another.

A $1 move means the same everywhere, so counting gold in dollars is harder to get wrong. The gold pip guide explains both ways of counting.

What Is 1 Pip Worth on Bitcoin?

On Bitcoin, a $1 move in the price is worth $1 on 1 lot, because 1 lot of Bitcoin is 1 coin at XM, HFM, XS and Exness. So 0.01 lot gains or loses $1 for each $100 move, and as on gold, the move in dollars is the clearest way to count it.

Compared with gold, 0.01 lot of Bitcoin is a small trade. A 1% move in Bitcoin changes 0.01 lot by about $8.37, but a 1% move in gold changes 0.01 lot of gold by about $41.51. So on the same lot size, a Bitcoin trade moves your balance about a fifth as much as a gold trade, and the 0.01 lot guide shows how much margin each trade needs.

Is Pip Value the Same at Every Broker?

On currency pairs, gold and Bitcoin, a pip is worth the same at XM, HFM, XS and Exness, because 1 lot is the same size at all four. Silver and oil are different. 1 lot of silver or oil is not the same size at every broker, so the same lot size can make or lose very different amounts.

Value of a $0.01 price move, 1 lot

	Silver	Oil (WTI)
XM	$50	$1
HFM	$10	$1
XS	$50	$10
Exness	$50	$10

On silver, the same lot moves your balance 5 times as much at XM, XS and Exness as at HFM. On oil, it moves your balance 10 times as much at XS and Exness as at XM and HFM. This matters most when you copy a lot size from another trader or from a video.

Our margin calculators cover 57 instruments that all four brokers offer, and 7 of them have a different lot size: silver, platinum, palladium, WTI and Brent oil, the US dollar index and the Japan 225 index.

Before you trade one of them, open the symbol’s Specification in MT5 and check the contract size. The pip calculator uses each broker’s own lot size, so it shows what 1 pip is worth at each broker for your trade.

Accounts with a smaller lot also change the pip value. On XM’s Micro account, 1 lot is only 1,000 units. So 1 pip on 1 lot of EURUSD there is $0.10, the same as 0.01 lot on a Standard account. The XM cent account guide explains Micro, and the cent account comparison covers the cent accounts at other brokers.

Questions People Ask About Pip Value

How many dollars is 1 pip on 0.01 lot?

On EURUSD, 1 pip on 0.01 lot is $0.10. So a 50-pip move on that trade changes your balance by $5. On USDJPY, the same trade was about $0.06 per pip at the price in this guide.

What is 1 pip on EURUSD?

On EURUSD, 1 pip is a move of 0.0001 in the price. For example, a move from 1.1195 to 1.1196 is 1 pip. Your platform shows a fifth decimal too, and one step of that digit is a tenth of a pip.

What if my trading account is not in US dollars?

Your platform turns the pip value into the currency of your trading account at the current rate. For example, in a trading account in euros, 1 pip on 1 lot of EURUSD was worth about €8.93 at the price in this guide.

Which Page Do You Need Next?

If you are planning a trade, start with the lot size calculator, because it turns your stop-loss in pips into a lot size for any pair. The pip calculator shows what 1 pip is worth on your lot size at your broker, and the 0.01 lot guide shows what the smallest trade is worth.