Percentage in Point (PIPs)
PIPs are what makes or loses money, as the price moves up and down PIPs are gained or lost.
A PIP is the last digit in a currency price (to 4 decimals) Or with the Japanese Yen 2 decimals.
In a 5 decimal place platform, the 5 digit is 1/10th of a PIP.
1.3957 = 7 is the last PIP
102.23 = 3 is the last PIP
For MT5 Users
1.39572 = 7 is the last PIP, 2 is 2/10ths of a PIP.
Expressed as a decimal 1 PIP is 0.0001
In the case of the Yen 1 PIP is 0.01
In the case of the 5 digit price
1 PIP is 0.00010