Find out exactly how much each pip is worth for any currency pair and lot size. Essential for position sizing and risk calculation.
For USD-quoted pairs (EUR/USD, GBP/USD): Pip Value = Pip Size × Lot Size (already in USD).
For USD-base pairs (USD/JPY, USD/CAD): Pip Value = (Pip Size / Exchange Rate) × Lot Size.
A standard lot of EUR/USD at any rate = $10/pip. Mini lot = $1/pip. Micro lot = $0.10/pip.