FOREX Pip Value Calculator
What is a pip ?
A pip in Forex is the minimum price movement of a currency pair.
For example, in the JPYUSD it is 0.01 and in the GBPUSD it is 0.0001. A pip is then worth $10, $1 or $0.1, depending on the size of lots you trade:
| Lot size | Name | Pip value |
| $100,000 | standard | $10 |
| $10,000 | mini | $1 |
| $1,000 | micro | $0.1 |
This is okay for cross rates that are against the US$ (US$ base currency), but what if your trading account is based in US$ and you wish to trade, for example, the GBPJPY? How do you know what a pip is worth in US$ when you are trading a cross rate that does not have its base currency in US$. That is where things get more complicated!
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