Pip is described as the smallest amount of change that an exchange rate make for a currency pair. One pip equals 0.0001. For example, the EUR/USD bid/ask currency rates at your bank may be 1.3025/1.3045. This represents a spread of 20 pips.

Pip is described as the smallest amount of change that an exchange rate make for a currency pair. One pip equals 0.0001. For example, the EUR/USD bid/ask currency rates at your bank may be 1.3025/1.3045. This represents a spread of 20 pips.