NZD/USD is quoted in US dollars, so on a dollar account the pip value is a fixed $10 per standard lot and the sizing arithmetic is the same as EUR/USD's. The pair's character is different: the kiwi trades on Reserve Bank of New Zealand policy, on New Zealand data released early in the Asian day, and alongside the Australian dollar. This calculator returns the lot size for your balance, risk and stop; the notes below cover the conversion for non-dollar accounts and the habits that make NZD/USD positions larger than they look.
NZD/USD contract facts
| Item | Value |
|---|---|
| Standard lot | 100,000 NZD |
| Mini / micro lot | 10,000 / 1,000 NZD |
| Pip | 0.0001 (4th decimal; the 5th decimal is the MT5 "point") |
| Quote currency | USD |
| Pip value, 1 lot | $10.00 on a USD account |
| Pip value, 0.10 lot / 0.01 lot | $1.00 / $0.10 |
| Pip value on an NZD account | 10 ÷ NZD/USD rate (NZ$16.67 at 0.6000) |
A standard lot is 100,000 New Zealand dollars of exposure. How much a lot is in forex covers the units, and the pip value calculator shows the value per pip for any lot size and account currency.
The lot size formula for NZD/USD
Lot size = (Account balance × Risk %) ÷ (Stop loss in pips × $10)On a dollar account there is no conversion step, so the formula is as short as it gets. The complete lot size guide shows how the same formula changes on yen pairs, gold and indices. Lot sizes are rounded down to 0.01, as the calculator does, so the loss at the stop never exceeds the risk you set.
Example 1 — $10,000 account, 1% risk, 20-pip stop:
- Risk amount: $100
- Loss per lot: 20 × $10 = $200
- Lot size: 0.50 lots
Example 2 — $3,000 account, 1% risk, 25-pip stop:
- Risk amount: $30
- Loss per lot: $250
- Lot size: 0.12 lots
Example 3 — $100,000 prop-firm account, 0.5% risk, 30-pip stop:
- Risk amount: $500
- Loss per lot: $300
- Lot size: 1.67, rounded down to 1.66 lots
On a funded account the same trade also has to fit the daily loss limit. Prop firm daily drawdown explains how firms measure it, and prop firm rules compares the limits.
Sizing on a New Zealand dollar account
If your account is held in NZD, the $10 pip has to be converted into New Zealand dollars:
Pip value per lot (NZD) = 10 ÷ NZD/USD rateExample 4 — NZ$10,000 account, 1% risk, 20-pip stop, NZD/USD 0.6000 (assumed):
- Risk amount: NZ$100
- Pip value: 10 ÷ 0.60 = NZ$16.67
- Loss per lot: 20 × NZ$16.67 = NZ$333.33
- Lot size: 0.30 lots
The rate is an assumption for the example, not a quote. The calculator converts with the latest ECB reference rate and shows its date under the result. Sizing an NZD account with $10 per pip would make the position about two-thirds larger than intended at this rate.
Quick reference: NZD/USD lot size at 1% risk (USD account)
| Account | 10-pip stop | 20-pip stop | 30-pip stop | 50-pip stop |
|---|---|---|---|---|
| $1,000 | 0.10 | 0.05 | 0.03 | 0.02 |
| $5,000 | 0.50 | 0.25 | 0.16 | 0.10 |
| $10,000 | 1.00 | 0.50 | 0.33 | 0.20 |
| $50,000 | 5.00 | 2.50 | 1.66 | 1.00 |
| $100,000 | 10.00 | 5.00 | 3.33 | 2.00 |
For 0.5% risk, roughly halve each figure; for 2%, roughly double it.
What makes NZD/USD different
- It moves with AUD/USD. The two economies and their currencies are closely linked, and the pairs often move in the same direction. A long NZD/USD next to a long AUD/USD is mostly one position at roughly double the size.
- New Zealand data arrives early in the Asian day. RBNZ decisions and the main domestic releases come out while Europe is closed. A stop placed in the London afternoon may meet those releases before you are back at the screen.
- Commodity and risk sentiment matter. The kiwi is sensitive to dairy prices, which are a large share of New Zealand's exports, and to global risk appetite, which can move it on news that has nothing to do with New Zealand.
- Liquidity is thinner than in the largest majors. The pair is a major, but a smaller one. Spreads and slippage around news can be a larger share of a tight stop than on EUR/USD; add the spread to the stop before sizing.
- The dollar leg still counts. Fed decisions and US data move NZD/USD together with every other dollar pair.
Common NZD/USD sizing mistakes
- Doubling up with AUD/USD. Two "different" trades on correlated pairs can turn a 1% plan into a 2% loss.
- Using $10 per pip on a non-dollar account. The pip is $10 only when the account is in dollars. On an NZD account it is NZ$16.67 at an assumed 0.60.
- Ignoring the spread on short stops. A small spread on a 10-pip stop is a meaningful share of the distance.
- Holding tight stops through RBNZ decisions. Rate surprises can move the pair through a nearby stop before it can fill near its level.
- Reading the fifth decimal as a pip. 0.60005 to 0.60010 is half a pip.
Track your NZD/USD 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. Reviewing NZD/USD and AUD/USD trades side by side shows how often the two were the same idea entered twice.
Frequently asked questions
How much is 1 pip on NZD/USD?
$10 per standard lot on a dollar account, $1 per mini lot and $0.10 per micro lot. On an NZD account it is 10 divided by NZD/USD, NZ$16.67 at 0.60.
What lot size should I use on a $10,000 NZD/USD account?
At 1% risk and a 20-pip stop, 0.50 lots. With a 30-pip stop, 0.33 lots.
Is NZD/USD sized the same way as AUD/USD?
Yes. Both are quoted in US dollars, so both have a $10 pip per lot on a dollar account and use the same formula.
Does the calculator need an exchange rate for NZD/USD?
Not on a dollar account. On any other account currency it converts the $10 pip with the latest ECB reference rate, or asks you to enter one if the rate cannot be loaded.