CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

What is a pip?

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 secure client area.

Tip: A pip is always the second last number on any instrument.

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