Pips and lots
Guides are grouped by the idea people search for: pips and lots, margin and risk, costs, orders, and market hours.
What is a pip in forex?
A pip is the conventional small increment in a currency pair’s quoted price.
What is a lot in forex?
A lot is the size of a forex position, not leverage and not a profit unit.
How pip value is calculated
Pip value is the cash change for a one-pip move. It is computed in the quote currency first, then converted only if the account currency differs.