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Pip definition
A pip is the standard unit of price movement in the forex market. It measures how far a currency pair has moved and feeds directly into profit, loss, spread, and trading-cost calculations.
For most currency pairs, one pip is 0.0001, the fourth decimal place. For Japanese yen pairs, one pip is usually 0.01, the second decimal place.
Pip value depends on the pair, the trade size, and your account currency. On many USD-quoted pairs, one pip is worth about USD 10 per standard lot of 100,000 units.
Pip Example
EUR/USD moves from 1.0850 to 1.0860, a move of 10 pips:
1.0860 - 1.0850 = 0.0010
On most non-JPY pairs, 0.0010 equals 10 pips. For a standard lot of 100,000 units on a USD-quoted pair such as EUR/USD, each pip is worth about USD 10, so a 10-pip move is about USD 100 of profit or loss.
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