Glossary

Pip

The standard small price step in most currency pairs: 0.0001, or 0.01 in pairs with the yen.

On EURUSD, a move from 1.0850 to 1.0820 is 30 pips. With 1 standard lot of 100,000 units, one pip is worth $10 when the US dollar is the second currency in the pair. With 0.01 lot it is worth $0.10.

Related terms

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