Forex and CFDs · Rookie
Pip
What does Pip mean?
A pip is a conventional unit of forex price movement. It is typically 0.0001 for many pairs and 0.01 for yen-quoted pairs.
Example
EUR/USD moving from 1.0800 to 1.0820 has moved 20 pips.
Illustrative example; not a provider’s quoted offer.Why it matters for prop traders
Pip value in money depends on trade size, the pair and account-currency conversion.
Sources and further reading
The following primary sources support the terminology. Provider rules describe their own products and may change.