Pip and tick value calculator
“What is one pip — or one tick — actually worth on this position?”
Every risk figure in forex and futures is denominated in pips or ticks, and neither is worth the same amount twice. This calculator converts a lot size or contract count into the currency value of one unit of movement, which is the number every other calculation needs.
Free to use, nothing to sign up for, and nothing you type here is sent anywhere — the arithmetic runs in your browser.
What it computes
Forex: pip value = (pip size x units) / quote-to-account rate
Futures: point value = multiplier x contracts
tick value = point value x tick sizeWhat you type in
| Field | What it means | Example |
|---|---|---|
| Mode | Forex or futures. | Forex |
| Lot type | Standard (100,000 units), mini (10,000) or micro (1,000). | Standard |
| Lots | How many lots the position holds. | 1 |
| JPY pair | Switches the pip size from 0.0001 to 0.01. | off |
| Quote to account rate | 1 when the pair's quote currency is your account currency; otherwise the conversion rate. | 1 |
| Futures: contract and count | A preset carrying the multiplier and tick size, and how many contracts. | 1 ES |
Reading the result
- The value of one pip or one tick at the size entered.
- The value of a move of several ticks, for the futures mode.
- The point value behind it, which is the figure the position size calculator needs.
Worked example
A USD account, four cases side by side.
- 1 standard lot of EUR/USD: (0.0001 x 100,000) / 1 = $10 per pip
- 1 mini lot of the same pair: $1 per pip
- 1 standard lot of USD/JPY at 150: (0.01 x 100,000) / 150 = $6.67 per pip
- 1 ES contract: multiplier 50, so $50 per point and $12.50 per 0.25 tick
What trips people up
- JPY pairs use a pip of 0.01, not 0.0001. Forgetting the toggle makes every figure 100x wrong.
- The conversion rate matters when the account currency is not the pair's quote currency — that is what the third field is for.
- A pip and a point are not the same thing across brokers. The tool works in the units shown.
Questions
- Why is a JPY pip different?
- Because the pair is quoted to two decimal places rather than four. A pip is the last decimal place of the conventional quote, so on a JPY pair it is 0.01.
- What is a tick versus a point?
- A point is one whole unit of the contract's price and a tick is its minimum increment. ES moves in 0.25 ticks at a $50 point value, so a tick is $12.50.
Related calculators
These are the same calculators built into Ledger of Alpha, where they read your own trade history instead of numbers you re-type. See the full product
Keep the record these numbers come from
A free account logs the trades you size here, so the win rate and averages you type into these calculators come from your own history rather than a guess.