Pip

IG's glossary says a pip measures a move between two currencies and, for most major pairs priced to four decimal places, is the fourth digit after the decimal point. For yen pairs quoted to two decimal places, IG says the pip is the second digit. An extra digit beyond that, where a platform shows one, is a pipette. IG also says it uses the word point for the same move on its CFD and spread-bet tickets. A pip is a quoting unit. It does not say how much money the move is worth until the position size is known.