Pip
Pip — The smallest unit of price change in a forex pair — the 4th decimal for most pairs, 2nd decimal for JPY pairs.
- Quick definition: The smallest unit of price change in a forex pair — the 4th decimal for most pairs, 2nd decimal for JPY pairs.
- Category: Forex Basics
Full Definition
A pip is 0.0001 for most forex pairs. For JPY pairs, a pip is 0.01.
Related Terms
Test Your Strategy on Real Prop Firm Rules
JPTC's Prop Firm Checker tests your backtest against FTMO, FundedNext, FXIFY, TopStep and Apex rules.
Open Prop Firm Checker →