Forex

PIP stands for “Price Interest Point” and is the last decimal place of a quote. It is mostly used in Forex trading and since Forex pairs usually have 4 decimal numbers, generally 1 pip is the change of 1 point at the 4th value of the currency pair; we could also define 1 pip as 1/100 of a cent.

So what’s the fuss about the forex market? Just like any market, forex exchange market is the place currencies are traded. I mean, currencies are very important to a larger majority of people around the world, notwithstanding whether they understand it or not