Pairs & Instruments

What a pip is worth, how big a lot is, and when each one is in session. Eleven instruments, the same conventions the calculators use.

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Major pairs

EUR/USD Pip 0.0001 · lot 100,000 $10.00 per pip, 1.00 lot GBP/USD Pip 0.0001 · lot 100,000 $10.00 per pip, 1.00 lot AUD/USD Pip 0.0001 · lot 100,000 $10.00 per pip, 1.00 lot NZD/USD Pip 0.0001 · lot 100,000 $10.00 per pip, 1.00 lot USD/JPY Pip 0.01 · lot 100,000 1000.00 JPY per pip, 1.00 lot USD/CHF Pip 0.0001 · lot 100,000 10.00 CHF per pip, 1.00 lot USD/CAD Pip 0.0001 · lot 100,000 10.00 CAD per pip, 1.00 lot

Crosses

EUR/JPY Pip 0.01 · lot 100,000 1000.00 JPY per pip, 1.00 lot GBP/JPY Pip 0.01 · lot 100,000 1000.00 JPY per pip, 1.00 lot

Metals

XAU/USD Pip 0.10 · lot 100 $10.00 per pip, 1.00 lot XAG/USD Pip 0.01 · lot 5,000 $50.00 per pip, 1.00 lot

Why the contract size matters more than the price

A standard lot is 100,000 units of the base currency for every pair on this page, and 100 ounces for gold, and 5,000 ounces for silver. Those three numbers are not interchangeable, and the same lot size means a very different amount of money in each case.

That is the reason each instrument has its own page rather than one table for everything: the arithmetic changes, and so does the mistake it is easy to make. The lot size calculator and the pip value calculator use exactly the conventions listed here.