To use chat, please login.
Back to contacts
phebas
Jun 22 2015 at 12:52
3 posts
In the context of a 5 figure price chart what is a pip, is it the digit at the 5th decimal place?

5astelija
Jun 22 2015 at 14:37
52 posts
I think 0.0001 is a pip, and 0.00001 is a point.

However there seems to be lot of misusing those words, some people think pip is always the smallest movement, regardless if the broker uses 4 or 5 digits. Yeah, its a mess :D

rob559
Jun 22 2015 at 16:07
1916 posts
babyschool.com you know that ?

Don (240Z)
Jun 23 2015 at 06:28
50 posts
the 5th decimal place is a tick, 1/10 of a pip, which is the fourth decimal place

“Everybody should have a dream. What if that dream comes true?” – Jack Ma
Benjamin Van Tran (tranle447)
Jun 24 2015 at 04:18
116 posts
0.0001 is a pip , 0.00001 is a pipette , 1 pip = 10 pipettes

Often , the best trade is no trade at all
Tony (PipRebates)
Jun 24 2015 at 07:20
1 posts
some times, 0.01 is a pip, like usdjpy :)

we will send you the highest rebates~ up to 90%
5astelija
Jun 24 2015 at 10:12
52 posts
As I said - its a mess! I guess the 5th decimal is so new thing the forex community hasn't settled the 'official' word yet..

SophieB
Jan 02 2017 at 08:57
15 posts
Hello, I think you really have to be familiarized with the basic term of Forex world. You can check this one if you want: https://itrader-commodities.com/forex-glossary/ it helped me a lot when I was still a beginner.

Darren72
Feb 08 2017 at 13:09
12 posts
Pip refers to point in percentage. However more simply, a pip is what we in Forex would check a point for computing P&L.

If you are trading in mini (i.e. 10,000 units of currency), one pip refers to the one unit of currency in which the account is denominated. If the account is denominate in US dollars, then each pip (depending on currency pair) is value of about $1.

In all the involving Yen, a pip is (1/100)th place i.e. two place on the right of the decimal. However, in all the other currencies, a pip is (1/10000)th place i.e. four place on the right of the decimal.

vontogr (togr)
Feb 08 2017 at 17:02
4862 posts
phebas posted:
In the context of a 5 figure price chart what is a pip, is it the digit at the 5th decimal place?


@phebas
Some time ago where there were 4 digits only pip was change of 1.
So e.g. EURUSD 1.3324 to 1.3325. Pipetes was cahnge of 1/10 of pip.

Nowadays when there are 5 digits on normal brokers (except shitty Instaforex)
the pip is often understand as change of one so
1.07100 to 1.07101


Please login to comment.