The JP225 CFD tracks the Nikkei 225 and is quoted in yen, which makes it the index where lot sizes look the strangest. At a contract size of 1, one lot moves ¥1 per index point, less than one US cent, so a normal stop on a normal account can come out at dozens of lots. Many brokers use a larger contract, and then the same trade is a fraction of a lot. This calculator starts from 1 lot = ¥1 per point, the default in Fips's pip engine, converts yen into your account currency with the latest ECB reference rate, and lets you enter your broker's contract size. The examples below assume USD/JPY at 150.00.
JP225 (Nikkei 225) CFD contract facts
| Item | Value |
|---|---|
| Underlying | Nikkei 225 index |
| Quote currency | JPY |
| Contract size | broker-dependent; the calculator's default is ¥1 per index point per lot |
| Point | 1 index point (on a whole-number quote this is also the MT5 point) |
| Move of 1 point, 1 lot (default) | ¥1, which is 1 ÷ USD/JPY in dollars ($0.0067 at 150) |
| Move of 100 points, 1 lot (default) | ¥100, $0.67 at USD/JPY 150 |
| Move of 1 point, 1 lot, contract size N | ¥N |
| Cash session | Tokyo Stock Exchange, 09:00–11:30 and 12:30–15:30 Japan time |
Read the contract size first. In MT5, right-click the symbol in Market Watch, open Specification and read "Contract size", along with the minimum volume, the volume step and the maximum volume. Brokers list the index as JP225, JPN225, JAP225 or Japan 225, and the contract size and decimals differ between them. Enter the figure in the calculator's contract size field.
Computing the point value yourself
Point value per lot (JPY) = contract size × ¥1
Point value per lot (USD) = contract size ÷ USD/JPY rateAt contract size 1 and an assumed USD/JPY of 150.00, one point on 1.00 lot is 1 ÷ 150 = $0.0067. At contract size 100 it is $0.67. The rate is an assumption for the examples, not a quote; the calculator uses the day's ECB reference rate and shows its date under the result. The pip value calculator gives the value per point and per 1.00 move for any lot size.
The lot size formula for JP225
Lot size = (Account balance × Risk %) ÷ (Stop in index points × Point value per lot)The complete lot size guide uses the same formula on other symbols. Lot sizes are rounded down to 0.01, as the calculator does.
Example 1 — $10,000 account, 1% risk, 150-point stop, contract size 1, USD/JPY 150.00 (assumed):
- Risk amount: $100
- Loss per lot: 150 × ¥1 = ¥150 = $1.00
- Lot size: 100.00 lots
Example 2 — the same trade at contract size 100:
- Loss per lot: 150 × ¥100 = ¥15,000 = $100.00
- Lot size: 1.00 lot
The risk is identical; only the unit changed. If a lot size looks absurd, the contract size is almost always the reason. With a small contract, check that the size you need is within the broker's maximum volume per order.
Example 3 — ¥1,500,000 account, 1% risk, 200-point stop, contract size 100:
- Risk amount: ¥15,000
- Loss per lot: 200 × ¥100 = ¥20,000, no conversion
- Lot size: 0.75 lots
Example 4 — $100,000 prop-firm account, 0.5% risk, 200-point stop, contract size 10, USD/JPY 150.00 (assumed):
- Risk amount: $500
- Loss per lot: 200 × ¥10 = ¥2,000 = $13.33
- Lot size: 37.50 lots
On a funded account the daily loss limit caps the total, not just one trade; prop firm daily drawdown explains how it is measured and prop firm rules compares firms.
Quick reference: JP225 lot size on $10,000 at 1% risk (USD/JPY 150.00 assumed)
| Contract size | 100-point stop | 150-point stop | 250-point stop | 400-point stop |
|---|---|---|---|---|
| 1 (¥1 per point) | 150.00 | 100.00 | 60.00 | 37.50 |
| 10 (¥10 per point) | 15.00 | 10.00 | 6.00 | 3.75 |
| 100 (¥100 per point) | 1.50 | 1.00 | 0.60 | 0.37 |
For other balances, scale in proportion: $5,000 is half of each figure, $50,000 five times. At USD/JPY 140 every figure is about 7% smaller, at 160 about 7% larger.
What makes the Nikkei 225 different
- It is a yen instrument. On a dollar account the risk of a fixed position moves with USD/JPY, even on a day the index is flat.
- The yen and the index are linked. A weaker yen has often gone together with a firmer Nikkei, because many constituents are exporters. A long JP225 and a long USD/JPY can be closer to one position than they look.
- It is price-weighted. The Nikkei 225 weights its constituents by share price, not market value, so a handful of high-priced stocks can move the index by themselves.
- It trades around the clock. The cash market is open in Tokyo hours, but Nikkei futures also trade in Osaka and Chicago, and the CFD follows them. A position held through the US session reacts to US news while Tokyo is closed.
- Bank of Japan decisions move both legs. A BoJ surprise moves the yen and the index at once, which changes both the price and the dollar value of each point.
Common JP225 sizing mistakes
- Assuming $1 per point. That is the calculator's default for US index CFDs, not for JP225. At contract size 1 a JP225 point is ¥1, about $0.0067; sizing Example 1 at $1 per point gives 0.66 lots instead of 100.00, a position far smaller than the risk you set, and the reverse mistake on a large contract makes it far larger.
- Ignoring the contract size. Contract sizes of 1, 10 and 100 give lot sizes a hundred times apart for the same risk.
- Point-sized stops from forex. With the index in five figures, a stop of a few dozen points is a small fraction of an ordinary session's movement.
- Forgetting the USD/JPY conversion. The same lot size carries a different dollar risk when the yen moves.
- Exceeding the broker's maximum volume. At small contract sizes, the computed lot size may need more than one order.
Track your Nikkei trades in Fips
The calculator on this page is free and needs no account. Fips, the trading journal it belongs to, is in private beta with access by waitlist. In the trading journal, MT4 and MT5 accounts sync through the read-only investor password and cTrader through view-only access; other platforms come in by CSV import or manual entry, and Fips never asks for your login password. Recording each JP225 trade's risk in your account currency, rather than in lots, keeps results comparable when you change brokers or contract sizes.
Frequently asked questions
How much is 1 point on JP225?
At the calculator's default contract size of 1, ¥1 per point per lot, about $0.0067 at USD/JPY 150. At a contract size of 100 it is ¥100, about $0.67. Check the contract size in your MT5 symbol specification.
Why does the calculator show such a large lot size for JP225?
Because at contract size 1 each lot is worth very little per point. A $100 risk on a 150-point stop needs 100 lots at ¥1 per point, or 1 lot at ¥100 per point. Enter your broker's contract size and the figure adjusts.
What lot size should I use on a $10,000 JP225 account?
At 1% risk, a 150-point stop and USD/JPY at 150: 100.00 lots at contract size 1, 10.00 at contract size 10, 1.00 at contract size 100.
Is JP225 the same as JPN225, Japan 225 or the Nikkei?
Yes, they are broker tickers for a CFD on the same index. What differs between brokers is the contract size and the number of decimals.