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<p>A pip is a unit of measurement used to convey the change in value of a currency pair. For FX pairs with 5 decimal places, a pip is the 4th decimal place, and for pairs with 3 decimal places it is the 2nd. You can calculate the value of a pip using the pip calculator in your <a href="https://secure.pepperstone.com/?locale=en">secure client area</a>.</p>
<p>Tip: A pip is always the second last number on any instrument.</p>

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A pip is a unit of measurement used to convey the change in value of a currency pair.

From hedging to stop-losses, find out what you need to know to get started.

<h2>What is Forex Leverage?</h2><p>Leverage is the ability to control a large amount of money in the forex markets.</p><p>We offer leverage of up to 30:1 for forex in ASIC and our DFSA jurisdiction. This means for every $1 that you have in your trading account, you can trade $30 under ASIC and DFSA in the forex markets.&nbsp;</p><p>Leverage can exponentially increase your profits as well as your losses so it's crucial that traders take care when using leverage. The larger your position size, the larger your pip value will be and therefore, the greater the impact on your profit/loss (P/L).</p><h2>What is Forex Margin?</h2><p>Margin means the amount of money that you need to deposit into your Account to enter into or maintain a contract with us under the Agreements.</p><p>Margin requirements are expressed as a percentage of the full amount i.e. 0.5%, 2%, 1%. You can use this percentage to calculate your maximum leverage in your trading account.</p><p>The leverage ratio differs depending on regulation and what instruments and asset class you trade. Forex tends to have a higher leverage ratio, while cryptocurrency trading is generally much lower.</p><p>Here's how your margin requirement relates to the maximum leverage applicable on a range of instruments.<br/></p><table><thead><tr><th>MARGIN REQUIREMENT</th><th>MAXIMUM LEVERAGE</th></tr></thead><tbody><tr><td>5.00%</td><td>20:1</td></tr><tr><td>3.00%</td><td>30:1</td></tr><tr><td>2.00%</td><td>50:1</td></tr><tr><td><p>1.00%</p></td><td>100:1</td></tr><tr><td>0.50%</td><td>200:1</td></tr><tr><td>0.25%</td><td>400:1</td></tr></tbody></table><p></p>

Leverage can increase your profits as well as your losses. Margin is the amount of money that you need to deposit into your account to enter into or maintain a contract.

What is leverage and margin

<p>Your Stop Loss or Take Profit may have been triggered. If you no longer have enough equity in your account to support the trade's margin requirements, the automated stop-out system will start to close out your trades. If you are using an Expert Advisor, it may have sent an order to close your trade.</p>

Your Stop Loss or Take Profit may have been triggered.

What can cause my positions to close automatically

<p>This could be for a number of reasons. The market may be closed, or you may be logged in using your investor password which doesn't allow trading. Try also checking your internet connection and that you haven't been logged out of your account. If you're still experiencing issues, talk to us on Live Chat and we can close the positions for you.</p>

The market may be closed, or you may be logged in using your investor password which doesn't allow trading.

Why can't I close my position

<p>Yes. We offer Buy and Sell Stop and Limit orders, which trigger market orders at the next best available price.</p>

Yes. We offer Buy and Sell Stop and Limit orders, which trigger market orders at the next best available price.

Does Pepperstone offer Stop and Limit Orders

<p>Yes. All orders can have a Stop Loss or Take Profit set when placing the trade to reduce risk or lock in a profit at a certain price point. You can also set or modify these after placing the trade. Once triggered, market orders are sent to close your trade at the next best available price.</p>

Yes. All orders can have a Stop Loss or Take Profit set when placing the trade to reduce risk or lock in a profit at a certain price point.

Does Pepperstone offer Stop Loss and Take Profit orders

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What is a pip?

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