ConceptBeginner
Pip
syn. Point in Percentage
The smallest standard unit of price movement in a currency pair, typically the fourth decimal place (0.0001) for most FX pairs.
Last updated: February 10, 2026
1
For most currency pairs, a pip is 0.0001 (the fourth decimal place).
2
For JPY pairs, a pip is 0.01 (the second decimal place).
3
The value of a pip depends on the lot size and the currency pair.
4
For a standard lot (100,000 units) of EUR/USD, one pip equals approximately $10.
5
Many brokers now offer fractional pip pricing (5 decimal places), called pipettes.