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The term “Pip” is used for Forex instruments quoted to the fifth place after the decimal point (e.g. AUDJPY – 1.08052). One pip equals a price increment of exactly 0.00010.
- For instruments quoted to the third place after the decimal point (e.g. AUDUSD – 115.521), one pip equals a price increment of precisely 0.010.
- In the case of spot metals, one pip equals a price increment of exactly 0.01.
- For cryptocurrencies and indices, one pip equals to a price increment of precisely 1.0.
- In the case of other instruments, one pip equals a Tick Size.
If you are an experienced trader, you understand that using the New Zealand Dollar and the Canadian Dollar currency is most beneficial. Both currencies represent two of the powerful economies in the globe. The NZD/CAD duo computes the level of success determined by New Zealand and Canada economy.
When considering this duo, it is important to note that the New Zealand Dollar is the base currency which makes it most appropriate to distinguish the advance. The Canadian currency (Canadian Dollar) influences the NZD/CAD duo differently.
If you are interested in trading the NZD/CAD currency pair, contact FxPro today and open trading account in several minutes to test your trading strategy.
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