On EUR/USD, 0.01 lot is 1,000 units of the base currency and is worth $0.10 per pip in a USD account, so 0.10 lot is $1 per pip and 1.00 lot is $10 per pip.
That answer only holds for pairs quoted in US dollars. A 0.01 lot of gold, of NAS100 or of silver is a different amount of money, because each instrument has its own contract size and its own idea of what a "pip" is. The same 0.01 lot can be worth $0.01 per point on an index CFD and $0.50 per pip on silver.
This page is a reference for what one lot is worth on the instruments forex and CFD traders actually use: a value table, the pip-versus-point trap on gold and indices, what margin 0.01 lot needs, and how to turn "$ per pip" into the dollar loss at your stop. How to choose the lot size for a given risk is covered separately in the lot size guide; this page does not repeat that method.
How much is 1 lot in forex?
On a currency pair, 1.00 lot (a standard lot) is 100,000 units of the base currency, the first currency in the pair. Brokers let you trade fractions:
| Name | Lot size | Units of base currency | EUR/USD value per pip |
|---|---|---|---|
| Standard lot | 1.00 | 100,000 | $10.00 |
| Mini lot | 0.10 | 10,000 | $1.00 |
| Micro lot | 0.01 | 1,000 | $0.10 |
So 1.00 lot of EUR/USD is 100,000 euros, 1.00 lot of GBP/USD is 100,000 pounds, and 1.00 lot of USD/JPY is 100,000 US dollars. The pip value comes from the pip size multiplied by the contract size: 0.0001 × 100,000 = 10 units of the quote currency per pip. When the quote currency is USD, that is $10 directly. When it is yen, it is 1,000 JPY, which you convert at the current rate.
What is 1 lot worth on gold, indices, oil and crypto?
The table below uses the same contract sizes, pip sizes and point sizes as the Fips pip value calculator. Values are for a USD account. Three rates are assumptions for the arithmetic only: USD/JPY = 150.00 (used for both USD/JPY and GBP/JPY) and EUR/USD = 1.0800 (for GER40). Use live rates when you trade.
| Instrument | 1.00 lot = | Pip used | Per pip, 1.00 lot | Per pip, 0.10 lot | Per pip, 0.01 lot | 1.00 price move, per 1.00 lot |
|---|---|---|---|---|---|---|
| EUR/USD | 100,000 EUR | 0.0001 | $10.00 | $1.00 | $0.10 | $100,000 (1.00 = 10,000 pips, theoretical) |
| GBP/USD | 100,000 GBP | 0.0001 | $10.00 | $1.00 | $0.10 | $100,000 (theoretical) |
| USD/JPY (at 150.00) | 100,000 USD | 0.01 | 1,000 JPY = $6.67 | $0.67 | $0.067 | 100,000 JPY = $666.67 |
| GBP/JPY (USD/JPY at 150.00) | 100,000 GBP | 0.01 | 1,000 JPY = $6.67 | $0.67 | $0.067 | 100,000 JPY = $666.67 |
| XAU/USD (gold) | 100 oz | 0.10 | $10.00 | $1.00 | $0.10 | $100 |
| XAG/USD (silver) | 5,000 oz | 0.01 | $50.00 | $5.00 | $0.50 | $5,000 |
| NAS100 (CFD)* | 1 × index | 1 index point | $1.00 | $0.10 | $0.01 | $1 |
| US30 (CFD)* | 1 × index | 1 index point | $1.00 | $0.10 | $0.01 | $1 |
| SPX500 (CFD)* | 1 × index | 1 index point | $1.00 | $0.10 | $0.01 | $1 |
| GER40 (CFD, EUR quote)* | 1 × index | 1 index point | €1.00 = $1.08 | €0.10 = $0.108 | €0.01 = $0.0108 | €1 = $1.08 |
| BTCUSD (CFD)* | 1 BTC | $1.00 | $1.00 | $0.10 | $0.01 | $1 |
| USOIL (WTI CFD)* | 1,000 barrels | 0.01 | $10.00 | $1.00 | $0.10 | $1,000 |
*Broker-dependent. Index, oil and crypto CFD contract sizes are not standardised. Most MT5 brokers use 1 × the index for index CFDs, but some use 10 or 0.1, which moves every value in that row by the same factor. Check the contract size in MT5 before you trade: right-click the symbol in Market Watch, choose Specification, and read contract size, tick size and tick value.
A few things the table makes visible:
- GBP/JPY and USD/JPY have the same pip value in a USD account. The pip is worth 1,000 JPY per lot on every yen-quoted pair, so only the USD/JPY rate matters for the dollar value. The GBP/JPY rate itself changes the size of the position, not the pip value.
- Gold and EUR/USD look identical per pip ($10 per lot), but a pip on gold is $0.10 of price, and gold routinely moves many dollars in a session. "Same pip value" does not mean "same risk".
- Silver is five times gold per pip at the same lot size, because the contract is 5,000 oz against gold's 100 oz and the pip is $0.01 instead of $0.10. 0.01 lot of silver is $50 for a $1.00 move; 0.01 lot of gold is $1.
- On index CFDs, 0.01 lot is tiny at the common contract size: one cent per index point.
How much is 0.01 lot of gold?
0.01 lot of XAU/USD is 1 troy ounce of gold. Each $1.00 move in the gold price changes the position's value by $1.00, and each $0.10 pip by $0.10.
- 0.01 lot = 1 oz: $1 per $1.00 move
- 0.10 lot = 10 oz: $10 per $1.00 move
- 1.00 lot = 100 oz: $100 per $1.00 move
The notional value is the gold price times the ounces. At an assumed gold price of $4,000.00, 0.01 lot controls $4,000 of gold and 1.00 lot controls $400,000. That notional is what your margin is calculated from (see below), not what you can lose on a normal stop. The XAU/USD calculator uses these values with your own stop.
What is the difference between a pip and a point on gold and indices?
This is the most common source of a 10× mistake on non-FX instruments. MT5 works in points: the smallest price step the broker quotes for the symbol. Traders and calculators talk in pips, which outside forex has no single convention.
| Instrument | MT5 point | Pip in the Fips calculators | 1 pip = | $1.00 price move = |
|---|---|---|---|---|
| EUR/USD (5-digit) | 0.00001 | 0.0001 | 10 points | 10,000 pips |
| USD/JPY (3-digit) | 0.001 | 0.01 | 10 points | 100 pips |
| XAU/USD | 0.01 | 0.10 | 10 points | 10 pips, 100 points |
| XAG/USD | 0.001 | 0.01 | 10 points | 100 pips, 1,000 points |
| NAS100, US30, SPX500 | 0.1 | 1 index point | 10 points | 1 index point |
| USOIL | 0.001 | 0.01 | 10 points | 100 pips |
The point sizes in this table are the calculator defaults. Brokers can quote a symbol with more or fewer digits, so confirm the digits and tick size in the symbol specification.
Gold. A move from 4,000.00 to 4,005.00 is $5.00 of price. In the convention used here that is 50 pips, and MT5 shows it as 500 points. Some traders call $0.01 a pip, others call $1.00 a pip. If a signal says "50-pip stop" and means $50 of price, but you treat it as $5.00, your position is ten times larger than the person who gave the signal intended. If it means $5.00 and you enter 500 because MT5 showed 500 points, you are ten times too small.
Indices. On NAS100 and US30, traders say "points" and mean whole index points: a move from 21,000 to 21,050 is 50 points. With a 0.1 point size, MT5's own counter shows the same move as 500 points. At 1.00 lot and a contract size of 1, those 50 index points are worth $50, not $500.
The safe habit is to convert every stop to a price distance first ($5.00 on gold, 50.0 on NAS100, 0.0030 on EUR/USD) and only then into pips or points.
How much is 0.1 lot in dollars?
"0.1 lot in dollars" can mean two different things.
- What it is worth per pip. On EUR/USD, GBP/USD, gold and USOIL, 0.10 lot is $1.00 per pip. On USD/JPY at 150.00 it is $0.67 per pip. On silver it is $5.00. On NAS100 or US30 at a contract size of 1 it is $0.10 per index point.
- How much currency it controls. 0.10 lot of EUR/USD is 10,000 euros. At an assumed EUR/USD of 1.0800 that is $10,800 of notional exposure. 0.10 lot of USD/JPY is exactly $10,000, because the base currency is the dollar.
How much margin does 0.01 lot need?
There is no universal margin figure for 0.01 lot. It depends on the instrument's price, the contract size and the leverage your broker or prop firm applies to that symbol, and brokers often set different leverage for FX, metals, indices and crypto. The formula is:
Notional value = Contract size × Lots × Price
Margin = Notional value ÷ LeverageThe result is in the quote currency (or the base currency, for USD-based pairs like USD/JPY), so convert it to your account currency if needed.
EUR/USD at 1:100 leverage, assumed price 1.0800:
- Notional: 100,000 × 0.01 × 1.0800 = $1,080
- Margin: $1,080 ÷ 100 = $10.80
The same trade at 1:30 leverage needs $1,080 ÷ 30 = $36.00.
XAU/USD at 1:20 leverage, assumed gold price $4,000.00:
- Notional: 100 × 0.01 × 4,000 = $4,000
- Margin: $4,000 ÷ 20 = $200.00
At 1:100 the same 0.01 lot of gold would need $40.00. Check the margin column in your platform's symbol specification, or the margin shown in the order window before you send the trade, because that is the figure your broker will actually use.
Margin is the deposit that keeps the position open. It is not your risk. A 0.01 lot EUR/USD trade needing $10.80 of margin can lose far more than $10.80 if there is no stop, and far less if the stop is tight.
How do you turn "$ per pip" into the loss at your stop?
Multiply the stop distance by the value per pip (or per point) at your lot size:
Loss at stop = Stop distance in pips × Value per pip at your lot sizeThese examples use the values from the table. They answer "what does this lot cost me if I am wrong", not "what lot should I trade"; for the second question, use the lot size calculator.
EUR/USD, 0.01 lot, 30-pip stop
- Value per pip at 0.01 lot: $0.10
- Loss at stop: 30 × $0.10 = $3.00
- The same stop at 0.10 lot is $30.00, and at 1.00 lot $300.00.
USD/JPY, 0.10 lot, 40-pip stop, assumed USD/JPY 150.00
- Value per pip at 0.10 lot: 100 JPY = 100 ÷ 150 = $0.6667
- Loss at stop: 40 × $0.6667 = $26.67 (or 4,000 JPY ÷ 150)
- The USD/JPY calculator converts at the current rate for you.
XAU/USD, 0.01 lot, $6.00 stop
- Entry 4,000.00, stop 3,994.00: a $6.00 price distance, 60 pips, 600 MT5 points
- Loss at stop: $6.00 × $1 per $1.00 move = $6.00 (or 60 pips × $0.10)
- At 0.05 lot the same stop costs $30.00.
NAS100, 0.10 lot, 80-point stop, contract size 1
- Value per index point at 0.10 lot: $0.10
- Loss at stop: 80 × $0.10 = $8.00
- On a broker with a contract size of 10, the same order loses $80.00. This is why the contract size check is not optional. The NAS100 calculator uses the common 1 × index contract.
US30, 0.20 lot, 150-point stop, contract size 1
- Value per index point at 0.20 lot: $0.20
- Loss at stop: 150 × $0.20 = $30.00
- The US30 calculator shows the same arithmetic with your stop.
GER40, 0.10 lot, 60-point stop, assumed EUR/USD 1.0800
- Value per index point at 0.10 lot: €0.10
- Loss at stop: 60 × €0.10 = €6.00, which is 6.00 × 1.0800 = $6.48 in a USD account
USOIL, 0.10 lot, $0.50 stop
- $0.50 of price is 50 pips; value per pip at 0.10 lot: $1.00
- Loss at stop: 50 × $1.00 = $50.00 (or $0.50 × 1,000 barrels × 0.10)
BTCUSD, 0.01 lot, $800 stop
- Value per $1.00 move at 0.01 lot: $0.01
- Loss at stop: 800 × $0.01 = $8.00
Add the spread to the stop distance when you estimate the real loss: a long is closed at the bid, so a 1-pip spread on the EUR/USD example makes it 31 × $0.10 = $3.10. The EUR/USD calculator includes the stop distance you enter, so put the spread in it.
Why do small lots still lose money?
A 0.01 lot feels harmless because the per-pip number is small. The idea breaks down in three ways.
Losing streaks add up. Take a $300 account trading 0.01 lot of gold with a $15.00 stop. Each loss is 15 × $1 = $15, which is 5% of the account. A run of ten losses, which any strategy can produce, costs $150: half the account. Nothing about the lot was large. The risk per trade was.
No stop means no limit. The per-pip value tells you the rate of loss, not the size of it. 0.01 lot of gold with no stop loses $1 for every $1.00 the price moves against you, for as long as it keeps moving. Small lots are often traded without stops precisely because they feel small.
"0.01 lot" is not one size. 0.01 lot of silver loses $50 on a $1.00 move; 0.01 lot of gold loses $1 on the same move. A trader who learned position sizes on one symbol and carries them to another can be fifty times off without changing the lot number.
When sizing goes wrong it usually fails quietly: the trades look normal, and only the drawdown shows it. A trading journal that records the actual loss of each trade against the loss you planned is how you notice. Fips is in private beta with access by waitlist; the free calculators work without an account.
Frequently asked questions
How much is 0.01 lot in dollars?
On EUR/USD, GBP/USD and other USD-quoted pairs, 0.01 lot is $0.10 per pip in a USD account, so a 20-pip move is $2.00. It controls 1,000 units of the base currency, about $1,080 of EUR/USD at an assumed rate of 1.0800. On other instruments the per-pip value is different: $0.50 on silver, $0.01 per index point on NAS100 at a contract size of 1.
How much is 0.01 lot of gold?
0.01 lot of XAU/USD is 1 ounce. It gains or loses $1 for every $1.00 move in the gold price, and $0.10 per pip if a pip is $0.10. A $10.00 move against you costs $10.00.
How much is 1 lot of gold?
1.00 lot of XAU/USD is 100 ounces: $100 per $1.00 move and $10 per $0.10 pip. At an assumed gold price of $4,000.00 its notional value is $400,000.
What is the point value of US30 and NAS100?
At the common MT5 contract size of 1 × the index, one index point is worth $1 per 1.00 lot, $0.10 per 0.10 lot and $0.01 per 0.01 lot. Some brokers use a contract size of 10 or 0.1, which multiplies every figure by the same factor, so check the symbol specification in MT5.
How much money do I need to trade 0.01 lot?
Two different amounts matter. The margin to open it depends on price and leverage: 0.01 lot of EUR/USD at 1.0800 and 1:100 needs $10.80. The money you need to trade it sensibly depends on your stop: if a 30-pip stop costs $3.00 and you want each loss to be 1% of the account, that implies a $300 account. The lot size guide shows how to work the size out from the other direction.
Is 0.01 lot the same as a micro lot?
Yes. 0.01 lot is a micro lot (1,000 units on a currency pair), 0.10 lot is a mini lot (10,000 units) and 1.00 lot is a standard lot (100,000 units). On gold, a micro lot is 1 ounce.
