Forex Pip Calculator: Pip Value in GBP
Reviewed by Phillip Ashdown, Senior Forex Analyst · Last reviewed 22 October 2026
On a GBP account, one pip on one standard lot (100,000 units) of EUR/USD or GBP/USD is worth $10, which is about £7.48 at GBP/USD 1.3376. A mini lot is about £0.75 per pip and a micro lot about £0.075. Pairs quoted in pounds, such as EUR/GBP, are always exactly £10 per pip on a standard lot. On gold (XAU/USD), one pip on one lot is $10, about £7.48, assuming 100 ounces per lot and a $0.10 pip.
Use the calculator to find the value of one pip for your pair, lot size and account currency. Knowing your pip value before you trade tells you exactly how much each pip of price movement will make or lose, which is the starting point for setting stops and sizing positions.
Forex Pip Value Table in GBP
Value of one pip in pounds for the 14 forex pairs the calculator covers, converted at ECB reference rates, 22 October 2026. Your broker's live rate will differ slightly, so treat these as close estimates.
| Pair | Market rate | Standard lot (100,000) | Mini lot (10,000) | Micro lot (1,000) |
|---|---|---|---|---|
| EUR/USD | 1.1205 | £7.48 | £0.75 | £0.075 |
| GBP/USD | 1.3376 | £7.48 | £0.75 | £0.075 |
| AUD/USD | 0.7012 | £7.48 | £0.75 | £0.075 |
| NZD/USD | 0.5681 | £7.48 | £0.75 | £0.075 |
| USD/JPY | 157.05 | £4.76 | £0.48 | £0.048 |
| USD/CHF | 0.8220 | £9.09 | £0.91 | £0.091 |
| USD/CAD | 1.4034 | £5.33 | £0.53 | £0.053 |
| EUR/GBP | 0.8377 | £10.00 | £1.00 | £0.100 |
| EUR/JPY | 175.97 | £4.76 | £0.48 | £0.048 |
| GBP/JPY | 210.06 | £4.76 | £0.48 | £0.048 |
| GBP/AUD | 1.9076 | £5.24 | £0.52 | £0.052 |
| GBP/CAD | 1.8772 | £5.33 | £0.53 | £0.053 |
| GBP/CHF | 1.0996 | £9.09 | £0.91 | £0.091 |
| EUR/AUD | 1.5980 | £5.24 | £0.52 | £0.052 |
Pip size is 0.0001 for most pairs and 0.01 for pairs quoted in Japanese yen. A nano lot (100 units) is one tenth of a micro lot.
Pip Values for Gold and Indices
The calculator also covers gold and five major indices. Contract sizes for these markets are not standardised the way forex lots are, so the calculator uses the common retail defaults below and states them next to every result. Check your broker's contract specification before relying on the figures.
| Market | One pip or point | Contract assumed | Value per lot or contract |
|---|---|---|---|
| Gold (XAU/USD) | $0.10 price move | 1 lot = 100 oz | $10.00 (about £7.48) |
| UK 100 (FTSE 100) | 1 index point | 1 contract = £1 per point | £1.00 |
| US 500 (S&P 500) | 1 index point | 1 contract = $1 per point | $1.00 (about £0.75) |
| US 30 (Dow Jones) | 1 index point | 1 contract = $1 per point | $1.00 (about £0.75) |
| US Tech 100 (Nasdaq 100) | 1 index point | 1 contract = $1 per point | $1.00 (about £0.75) |
| Germany 40 (DAX) | 1 index point | 1 contract = €1 per point | €1.00 (about £0.84) |
Some platforms count a gold pip as a $0.01 move rather than $0.10, and some brokers size index contracts at £10 or more per point. In a spread bet you simply choose your stake in £ per point.
What Is Pip Value in Forex?
A pip is the standard unit of price movement in a currency pair: 0.0001 for most pairs and 0.01 for pairs quoted in yen. Pip value is what one of those movements is worth in money for your position size. It depends on three things: the pair you trade, how many units you hold, and the currency your account is held in.
How to Calculate Pip Value
Pip value = pip size × position size (units), converted from the quote currency into your account currency
A pip is always earned in the quote currency, the second currency in the pair. That gives three cases for a GBP account:
- Quote currency is GBP (EUR/GBP): one pip on a standard lot is exactly £10. No conversion is needed.
- Quote currency is USD (EUR/USD, GBP/USD, AUD/USD, NZD/USD): one pip on a standard lot is $10, converted to pounds at GBP/USD. At 1.3376 that is about £7.48.
- Any other quote currency (USD/JPY, USD/CHF, USD/CAD, the yen crosses): work out the pip value in that currency, then convert it to pounds. For USD/JPY, one pip on a standard lot is ¥1,000, about £4.76.
Pip Value Worked Examples
GBP/USD, 1 standard lot, GBP account
| Pip size | 0.0001 |
|---|---|
| Units | 100,000 |
| Pip value in USD | 0.0001 × 100,000 = $10.00 |
| Converted at GBP/USD 1.3376 | $10.00 ÷ 1.3376 = £7.48 |
USD/JPY, 0.5 lots, GBP account
| Pip size | 0.01 |
|---|---|
| Units | 50,000 |
| Pip value in JPY | 0.01 × 50,000 = ¥500 |
| Converted to USD at USD/JPY 157.05 | ¥500 ÷ 157.05 = $3.18 |
| Converted to GBP at GBP/USD 1.3376 | £2.38 |
GBP/JPY, 2 mini lots, GBP account
| Pip size | 0.01 |
|---|---|
| Units | 20,000 |
| Pip value in JPY | 0.01 × 20,000 = ¥200 |
| Converted to GBP | £0.95 |
Gold (XAU/USD), 0.5 lots, GBP account
| Pip size (assumed) | $0.10 price move |
|---|---|
| Ounces | 0.5 × 100 = 50 oz |
| Pip value in USD | $0.10 × 50 = $5.00 |
| Converted at GBP/USD 1.3376 | £3.74 |
All conversions use ECB reference rates, 22 October 2026. If your platform counts a gold pip as $0.01, divide these figures by 10.
Pip Value in Spread Betting
If you spread bet rather than trade CFDs, you do not need to convert anything. You choose a stake in pounds per point, and on major forex pairs most UK providers set one point equal to one pip. A £1 per point bet on GBP/USD gains or loses £1 for every pip the price moves, whatever the exchange rate. Check your provider's contract details, as point sizes on some markets differ.
To match a CFD position, divide its GBP pip value by £1. For example, one standard lot of EUR/USD (about £7.48 per pip) is roughly equivalent to a £7.48 per point spread bet.
Why Pip Value Matters for Risk Management
The same lot size carries different risk on different pairs. A 30-pip stop on one standard lot of EUR/GBP risks £300, while the same stop on USD/JPY risks about £143. Knowing the pip value lets you set stops in money terms and keep risk consistent from trade to trade. The position size calculator does the reverse calculation: it starts from the amount you want to risk and works out the lot size.
How to Use This Calculator
- Choose CFD / forex lots or spread bet at the top of the calculator.
- Select the market: a forex pair, gold or one of the indices.
- For a CFD, select your account currency, then the lot type and number of lots. For a spread bet, enter your stake in £ per point.
- Read the value of one pip or point, what a 10, 50 and 100 pip move is worth, and the equivalent size in the other trade type.
- Use the button under the result to carry the market across to the position size calculator. The page address updates as you type, so you can bookmark or share a calculation.
Frequently Asked Questions
How much is 1 pip worth?
It depends on the pair and your position size. On a GBP account, one pip on a standard lot is exactly £10 for EUR/GBP, about £7.48 for USD-quoted pairs such as EUR/USD, and about £4.76 for USD/JPY at current rates. The GBP pip value table lists every major pair.
How much is 1 pip worth on a 0.01 lot?
A 0.01 lot is a micro lot of 1,000 units, so one pip is one hundredth of the standard-lot value: 10 cents on USD-quoted pairs such as EUR/USD, about £0.075 on a GBP account, and exactly 10p on EUR/GBP. On gold, 0.01 lots is 1 ounce, so one $0.10 pip is worth 10 cents.
How much is 50 pips worth?
On one standard lot of EUR/USD, 50 pips is $500, about £374 on a GBP account. On a mini lot (0.1) it is about £37.38 and on a micro lot (0.01) about £3.74. The calculator shows 10, 50 and 100 pip moves for whatever you enter.
How much is a pip worth on gold (XAU/USD)?
With 100 ounces per lot and a pip counted as a $0.10 move, one pip on one lot of gold is $10, about £7.48. Platforms differ: some count a gold pip as $0.01, which makes it $1 per lot. Entering your stop as prices in the position size calculator avoids the question.
What is the difference between a pip and a point?
A pip is the standard unit of movement in a forex price (0.0001, or 0.01 for yen pairs). A point is the unit a broker quotes a market in. On major forex pairs most UK spread betting providers set one point equal to one pip; on indices, one point is one index point.
What is a pip in forex?
A pip (percentage in point) is the standard unit of price movement in a currency pair. For most pairs it is 0.0001; for pairs quoted in Japanese yen it is 0.01.
What is the pip value of GBP/USD?
One pip on one standard lot of GBP/USD is worth $10. On a GBP account that is about £7.48 at GBP/USD 1.3376. A mini lot is about £0.75 per pip.
Does pip value change with lot size?
Yes, in direct proportion. A mini lot (10,000 units) is worth one tenth of a standard lot per pip, and a micro lot (1,000 units) one hundredth.
Why does pip value change over time?
Unless the pair is quoted in your account currency, the pip value has to be converted at the current exchange rate, so it moves as rates move. For a GBP account, EUR/GBP pip values never change; everything else does.
Does the pip calculator work for gold and indices?
Yes. It covers gold (XAU/USD), the UK 100, US 500, US 30, US Tech 100 and Germany 40. Because contract sizes vary between brokers, it assumes 100 ounces per gold lot with a pip of $0.10, and one unit of currency per point for an index contract. These assumptions are shown next to the result.
How does pip value work in spread betting?
In a spread bet your stake per point is your pip value. On major forex pairs a point is usually one pip, so a £2 per point bet gains or loses £2 per pip. See our guide to what spread betting is.