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.
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