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PIP – This is known as the “Percentage in Point”, also known simply as a point. This is the smallest amount of movement in the forex exchange market, usually signifying a change of 0.0001 for most currencies. One has to consider though that currencies are often traded in increments of 100,000, so one PIP is equivalent to 10 of the traded currencies. If your currency, let’s say the dollar, went up 3 pips (0.0003), then you have gained $30.Exchange Rate – this is the amount of one currency against another. For example you are dealing in British Pounds (GBP) and American Dollars (USD), for every 1 USD, you can get 1.44 GBP (sample quote). Remember that the amounts dealt with here are often in increments of 100,000, so each change is significant. So try out the Forex Cash Rocket ASAP!
