Pips in Trading
What a pip is, how to calculate pip value and why pips matter for risk on Exness.
Open Exness Account →A pip is the standard unit of price movement in forex — usually the fourth decimal place (the second on JPY pairs). Pip value depends on the currency pair, your lot size and your account currency. Spreads, stop-losses and targets are all measured in pips, so understanding them is key to managing risk on Exness.
Pips explained for Exness traders
- A pip is the standard smallest price move on most forex pairs — the 4th decimal place.
- On JPY pairs, a pip is the 2nd decimal place.
- Pip value depends on the pair, lot size and your account currency.
- Brokers often quote a fifth decimal (a 'pipette' = 1/10 of a pip).
- Spreads and stop-losses are measured in pips.
Pip basics
| Concept | Detail |
|---|---|
| Pip (most pairs) | 4th decimal, e.g. 1.10250 → 1.10260 = 1 pip |
| Pip (JPY pairs) | 2nd decimal, e.g. 150.20 → 150.21 = 1 pip |
| Pipette | 1/10 of a pip (5th decimal) |
Frequently asked questions
What is a pip in forex?
A pip is the standard smallest price change on a currency pair — typically the fourth decimal place, or the second decimal on JPY pairs.
How much is one pip worth on Exness?
Pip value depends on the pair, lot size and account currency. On a standard lot of a USD-quoted pair it is about $10; use the Exness calculator for an exact figure.
What is the difference between a pip and a point?
A point often refers to the smallest quoted increment (a pipette, the fifth decimal), while a pip is the standard fourth-decimal move. Platforms may use the terms differently.