How to Calculate Pip in Forex?
Pip is one of the well-known words that you often hear while discussing forex trading. It is one of the primary terms used as jargon and a particular term. Every forex trader is curious to know what pip is and how to calculate it in forex trading. Let’s begin with what is?
What is Pip?
PIP is known as an acronym that stands for point in percentage. It is used to represent the smallest unit of movement for currency exchange in a currency pair. The pip value is expressed in the base currency value. In other words, it is also known as the smallest value in forex trading, and it is 0.0001 USD.
How to Calculate Pip: Step–to–Step Procedure
We are using an example in order to brief about how to calculate pip. This guide will also help the forex brokers in South Africa. Let’s begin the steps...