What’s a pip?

fxoday

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Pip in my understanding is smallest unit price change on 4 digit broker, let say EURUSD move from 1.2000 to 1.2001 it has value 1 pip, but in 5 digit broker called a pipette, its smallest unit price change, let say EURUSD 5 digit broker move from 1.20000 to 1.20001 it has value 1 pipette, so 1 pip equivalent with 10 pipettes, corrected if me wrong.
 

Eliza_King

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Pip in my understanding is smallest unit price change on 4 digit broker, let say EURUSD move from 1.2000 to 1.2001 it has value 1 pip, but in 5 digit broker called a pipette, its smallest unit price change, let say EURUSD 5 digit broker move from 1.20000 to 1.20001 it has value 1 pipette, so 1 pip equivalent with 10 pipettes, corrected if me wrong.
Ok I get you! Thanks!
 
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