Margin and pip calculator

See how much a single point of movement is worth – as well as how much margin you'll need to trade – with this pip calculator for forex, indices, commodities and more.

How much is a pip worth?

Use this tool to calculate how much you'll make or lose per pip on your chosen trade, plus how much margin to deposit. Enter in your base currency and trade size, and find your market in the table below.

Neither nor its affiliates will be held responsible for the reliability or accuracy of this data. The service is provided in good faith; however, there are no explicit or implicit warranties of accuracy. The user agrees not to hold or any of its affiliates, liable for trading decisions that are based on the pip & margin calculators from this website.

What are pips and how do they work?

Pips are how you measure movement in a currency pair, standing for ‘point in percentage’. Sometimes, you might hear pips referred to as ‘points’. The value of a pip changes depending on the pair you are trading.

In most forex pairs, one pip is equal to a single-digit move in the fourth decimal place (0.0001) of the pair’s price. So it’s equivalent to 1/100 of 1%. If EUR/USD moves from 1.1732 to 1.1737, for example, it has gone up five pips.

In currency pairs that include the Japanese yen (JPY), though, the second digit after the decimal point is the pip. Here, a pip is equivalent to 1/10 of 1%.

Using these small units to measure price movement enables traders to profit from relatively small price movements.

Learn more about forex trading in the Academy

How does the forex pip calculator work?

The forex pip calculator works by multiplying the size of your position by the value of a single pip, then converting that figure into your chosen base currency. It also calculates your total required margin, by dividing the total size of your position by your chosen market’s margin factor.

You can use the pip calculator to see precisely how much you’ll make or lose for each point of movement in your underlying market – as well as how much you’ll need to deposit to open a position.

Find out more about calculating margin

Fractional pips

In addition to the standard pip, most forex brokers also offer ‘fractional pip pricing’ by adding an extra fifth decimal place to their quotes. As well as enabling tighter spreads, these can give you a better understanding of a currency price’s movements.

Learn more about trading forex

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Margin pip calculator FAQs

How do's margin requirements work?'s margin requirements work using a tiered system. For larger positions, you might need to deposit additional capital.

You can see the margin tiers for any market on the calculator – select the (+) in the margin requirement column. Alternatively, head over to the Market 360 tab in the platform.

The UK 100, for example, might have a margin requirement like this:

Quantity Margin required
Up to 3190 5%
3190+ 15%

Here, you'd need to deposit 5% of your position's total value to trade up to 3190 CFDs. 

But what if you want to buy 4000 CFDs? You'd need to deposit 5% margin on the first 3190 contracts and 15% margin on the following 810.

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How is required margin calculated?

Your required margin is calculated by taking your total trade size and dividing it by your market's margin requirement. The calculator will then automatically convert that figure into your chosen base currency.

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What are the margin requirements?

Margin requirements for forex vary by currency pair, but range from 3.33% (major pairs) to 5% (minor and exotic pairs). You can find our the specific margin of each instrument in its Market Information Sheet on the desktop platform, and you can calculate the required margin before placing a trade.

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