# Pip Calculator

With MiladFX Live Price Charts, you can follow the price behaviour of this pair in real time.

Using live market quotations, account base currency, lot size, and traded pair, MiladFX Pip Calculator can precisely compute the pip value for forex pairs, indices, crypto currencies, and more…

## What exactly are Pips? In forex, what are pips?

Except for fractions of a pip or ‘pipettes,’ a pip in forex refers to the smallest price shift a currency pair can make.

1 pip is 0.0001 for most currency pairs; 1 pip is 0.01 for currency pairs including the Japanese Yen, such as USD/JPY. When trading metals, 1 pip equals 0.01 for Gold and Silver.

The difference between 1.0925 and 1.0926 in the EUR/USD is 1 pip. With 5-digit pricing, the EUR/USD would move half a tick higher from 1.09255 to 1.09260.

## What is the Pip Calculator and How Do I Use It?

Pair of currencies: The most popular cryptocurrencies (BTC, ETH, LTC, Stellar, and Ripple) against the USD, as well as Gold/Silver against the USD, are available to traders. Let’s use the EUR/USD as an example.

Non-forex pairs have different units per 1 lot than forex pairs, which are 100,000 units for 1 lot. This field allows you to calculate the pip value based on the number of lots or units traded. Let’s use a 10,000-unit trading size lot as an example (0.10 mini lot).

Deposit currency: Because pip values fluctuate for each FX and cryptocurrency cross and are dependent on the current market quote of a cross, entering this field will allow the pip value of the selected instrument to be appropriately displayed in the trader’s account base currency (from AUD to ZAR). For the sake of illustration, I’m use EUR as the deposit currency.

**I’m now press the “Calculate” button.**

The pip calculator displays the current pip value based on the selected account base currency using a market price live feed with the current interbank rate (in a 5-digit format) (in my example, the EUR).

So, on a EUR trading account, the pip value for a 0.10 lot of EUR/USD at a market rate of 1.21580 is currently €0.8225.

Traders should be aware that pip values for trading accounts in other currencies, such as GBP or AUD, can fluctuate depending on the current market rate for the GBP/USD or AUD/USD, respectively. To calculate the pip value in other currencies, use the conversion formula below:

**Pip Value = (One Pip / Exchange Rate) * Lot Size**

The result would be:

**Pip Value = (0.0001 / 1.21580) * 10,000 = €0.8225.**