What Are Forex Pips and How Do Traders Use Pips?
In the forex market convention, a pip represents the smallest whole unit price move that an exchange rate can make. A pip is one-hundredth of 1% (1/100 × 0.01) which is represented in the fourth (0.0001) decimal place. A pip is a fundamental concept of foreign exchange (forex). Forex traders buy and sell a currency whose value […]
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