What is PIP

The full type of Pip is ''Percentage in Point'. A pip is the last digit in the estimation of a currency pair (in the event that you are trading from a 4 digit price support); 1.3294, 115.13 et cetera. All Forex currency pairs, except for the Japanese Yen, measure the pip from the fourth decimal place. The pip gap between purchase and offer price is called spreads.