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Pip

The smallest standard unit of price change in a currency pair.

What is Pip in forex trading?

The smallest standard unit of price change in a currency pair. For most pairs, a pip is the 4th decimal place (0.0001). For JPY pairs, it is the 2nd decimal place (0.01).

What this looks like across the brokers we track

Across the 42 brokers BrokerAnalysis tracks, the median EUR/USD spread is 0.5 pips, ranging from 0.0 to 1.5 pips, with 36 figures taken from the broker's own published specification.

Measured across 42 entities in the BrokerAnalysis dataset. See the full broker comparison

Detailed Explanation

For most pairs, a pip is the 4th decimal place (0.0001). For JPY pairs, it is the 2nd decimal place (0.01).

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