Pip

The smallest increment in which a currency pair can move. It is usually the fourth decimal place of the quote currency in a pair. In the case of the Japanese yen (JPY), it is the second decimal place of the quote currency.
Did you know?

The average daily trading volume in the foreign exchange market exceeds $5 trillion.

Word of the day
"No Dealing Desk (NDD)" - A No-Dealing-Desk broker passes its clients’ trades straight through to liquidity providers without intervening between the two parties.
Pro Tip

Do not open a real account before doing some demo-trading.

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