Feature
Pip
Point/Pipette
Definition
The smallest standard unit of price movement in forex trading.
A smaller unit, 1/10th of a pip, used for more precise price measurements.
Decimal place
- 4th decimal place for most currency pairs.
- 2nd decimal place for JPY pairs.
- 5th decimal place for most currency pairs.
- 3rd decimal place for JPY pairs.
Value
- For most pairs: 1 pip = 0.0001
- For JPY pairs: 1 pip = 0.01
- For most pairs: 1 point = 0.00001
- For JPY pairs: 1 point = 0.001
Example (EUR/USD)
A move from 1.1000 to 1.1001 is a 1 pip change.
A move from 1.10000 to 1.10001 is a 1 point change.
Example (USD/JPY)
A move from 110.00 to 110.01 is a 1 pip change.
A move from 110.000 to 110.001 is a 1 point change.