Question 1

What is a pip in forex trading?

Accepted Answer

A pip (Percentage in Point) is the smallest standard price move in a currency pair. For most forex pairs, 1 pip = 0.0001 (4th decimal). For JPY pairs, 1 pip = 0.01 (2nd decimal). For XAUUSD, 1 pip = 0.01 ($0.01 per ounce).

Question 2

How much is 1 pip worth for EURUSD?

Accepted Answer

For EURUSD with a standard lot (100,000 units), 1 pip = $10.00. With a mini lot (10,000 units), 1 pip = $1.00. With a micro lot (1,000 units), 1 pip = $0.10. This assumes USD is the quote currency.

Question 3

Why is XAUUSD pip value different from forex?

Accepted Answer

XAUUSD has a pip size of 0.01 and a contract size of 100 troy ounces. This means 1 pip per standard lot = $1.00, which is different from standard forex pairs where 1 pip per lot = $10.00. This difference is why many forex calculators give wrong results for gold.

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