Calculating the value of pips, especially for cross currency pairs that do not include the U.S. dollar as one of the currencies, can be time consuming and difficult. For that reason, there are pip value calculators that will do the job for you. With a pip value calculator, you simply input your account base currency and the calculator will let you know the value of a pip for the standard lot (100,000 units), mini lot (10,000 units) and micro lot (1,000 units). This can save you a lot of time and since it can update in real time you will always easily know what your potential profit or loss is.