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What is a pip?

The word “PIP” stands for Percentage in Point. In Forex, a pip is what you would consider a “point” for calculating profits and losses.

On Trading Station, you can see the value of a pip for each of your trades when entering a Market or Entry Order.

Under the Amount (K) field, you will see “Per pip”. This will be the Pip value in your base currency.

For most currency pairs, the 'pip' location is the fourth decimal place. In this example, if the GBP/USD moved from 1.42279 to 1.42289 you would have gained or lost one pip, depending on if you're long or short. The amount that pip is worth depends on the lot size you open.

 

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Order Execution Only

Order Execution Only

Regulatory Documents:
CIRO: Avoiding Fraud and Protecting Your Investments, How CIRO Protects Investors, CIRO Complaints Brochure, CIPF Brochure, CIPF Coverage Policy, CIRO Order Execution Only Bulletin, Conflict Disclosure Statement, Covid-19 and Cyber Security - Tips for Investors, Relationship Disclosure Information Document, Notice of Acknowledgment, Before You Begin Trading

The relationship between Friedberg Direct and FXCM was formed with the purpose to allow Canadian residents access to FXCM's suite of products, while maintaining their accounts with a regulated Canadian firm. All accounts are opened by and held with Friedberg Direct, a division of Friedberg Mercantile Group Ltd., a member of the Canadian Investment Regulatory Organization (CIRO). Friedberg customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at www.cipf.ca.

* The percentage of our retail client accounts that were profitable in each of the previous most recent quarters was: Quarter 4, 2025: 41% | Quarter 3, 2025: 41% | Quarter 2, 2025: 34%. These figures are provided for transparency purposes only and do not constitute an indication of future performance or results.