What is a pip?
A pip is a unit for measuring how far a price has moved. This page explains pip size, the related word point, how to count pips and how the value of a pip is worked out.
The definitions below follow the Exness Help Centre (checked 2026-10-13). Other brokers can define terms differently, and Exness can change its rules without notice. A pip measures gains and losses alike.
Is a pip just the fourth number after the decimal point?
At Exness, for most forex instruments, yes: a pip is a price change in the fourth decimal place. Pairs with the yen and other instruments use a different pip size, so the answer depends on what you trade.
Pip size depends on the instrument
Does every instrument use 0.0001 as its pip?
No. At Exness most currency pairs use 0.0001 and pairs with the yen use 0.01. Gold, BTCUSD, ETHUSD and indices have their own pip sizes, shown in the table.
At Exness, the pip size shows where the pip sits in a price. For a price of 1.11115 the pip size is 0.0001, so a pip is a change in the fourth decimal place.
| Instrument | Pip size at Exness |
|---|---|
| Most currency pairs | 0.0001 |
| Pairs that include the yen | 0.01 |
| Gold (XAU) | 0.01 |
| BTCUSD and ETHUSD | 0.1 |
| Indices such as US30 and DE30 | 1 |
Source: Exness Help Centre, Common trading terms (checked 2026-10-13).
Pips and points
Exness also uses the word point. In Exness's five-decimal price example, a point is 0.00001 and a pip is 0.0001, so 1 pip equals 10 points. Pip size differs by instrument.
Example from Exness: a move from 1.11115 to 1.11135 is 2 pips, which is also 20 points.
This matters when you read a platform. MT4 and MT5 show the spread in points, so a spread of 2 pips appears as 20 points. Exness Terminal and Exness Trade show the current spread in pips. See what is spread.
Counting pips with examples
To count pips, take the difference between two prices and compare it with the pip size.
- 1.11115 to 1.11135: the change is 0.0002. With a pip size of 0.0001 this is 2 pips (Exness's example).
- USDCAD with a bid of 1.26586 and an ask of 1.26600: the gap is 0.00014, which is 1.4 pips (Exness's example of a spread).
Source: Exness Help Centre, Common trading terms and spreads article (checked 2026-10-13).
What a pip is worth
Is a pip always worth the same amount of money?
No. At Exness the value of a pip is lots x contract size x pip size, worked out in the quote currency and then converted to your account currency. It is the amount you gain or lose when the price moves 1 pip.
According to Exness, the pip value is the amount you gain or lose when the price moves 1 pip. Exness gives this formula: pip value = lots x contract size x pip size.
- EURUSD, 1 lot: 100,000 x 0.0001 = 10 in the quote currency (USD).
- USDJPY, 1 lot: 100,000 x 0.01 = 1,000 in the quote currency (JPY).
These two lines are calculations from Exness's formula, not figures that Exness states.
Exness works out profit or loss as the number of pips between the opening and closing price x the pip value. The result is first in the quote currency. It is then converted to your account currency at the closing price, and if your account currency is not part of the pair, the relevant rate at closing is used. If the quote currency differs from your account currency, the converted value changes with the exchange rate.
To try your own numbers, use the pip value calculator.
Check the definition before you rely on it
The futures regulator CFTC describes a pip as the minimum price unit of a commodity or currency (CFTC glossary). That glossary is written for futures. Over-the-counter forex and CFDs can differ in the details. In Exness's wording a point is a smaller unit than a pip; in its five-decimal example, a pip is 10 points.
Pip size also differs by instrument, so confirm it for the instrument you plan to trade. Related pages: what is a lot and what is spread.
Is a pip the same as a point?
No. At Exness, in its five-decimal price example, a point is 0.00001 and 1 pip is 10 points. Pip size differs by instrument. MT4 and MT5 show the spread in points.How many pips is a move from 1.11115 to 1.11135?
It is 2 pips, which is also 20 points, using a pip size of 0.0001. This is the example Exness gives.How is the value of a pip calculated?
At Exness it is lots x contract size x pip size. For 1 lot of EURUSD that is 100,000 x 0.0001 = 10 in the quote currency. If the quote currency differs from your account currency, the converted value changes with the exchange rate. If they are the same currency, no conversion is needed.Last reviewed 2026-10-13