---
title: "Pip - Meaning & GFN's Figure - Get Funded Now"
description: "The standard unit of price movement in forex - 0.0001 for most pairs, 0.01 for yen pairs. A pipette is one tenth of a pip, which is why most quotes carry…"
url: "https://getfundednow.com/glossary/pip"
language: "en"
last_modified: "2026-09-22"
publisher: "Get Funded Now (getfundednow.com)"
translations:
  es: "https://getfundednow.com/es/glossary/pip"
  pt-BR: "https://getfundednow.com/pt-br/glossary/pip"
  fr: "https://getfundednow.com/fr/glossary/pip"
  it: "https://getfundednow.com/it/glossary/pip"
  de: "https://getfundednow.com/de/glossary/pip"
disclosure: "All trading at Get Funded Now is simulated. 'Funded' means a simulated or virtual account; GFN is not a broker and does not hold client funds."
---

Trading mechanics

# Pip

The standard unit of price movement in forex - 0.0001 for most pairs, 0.01 for yen pairs. A pipette is one tenth of a pip, which is why most quotes carry a fifth or third decimal place.

Also called: Point in percentage · Pipette

GFN’s figure

A GFN daily loss limit converts straight into pips. On a $100,000 1 Step account the 5% limit is $5,000 - 500 pips at one standard lot on a pair worth $10 per pip, or 50 pips at ten lots.

In detail

## Pip, explained

A pip is a distance, not a value. What it is worth depends entirely on position size and, for pairs not quoted in your account currency, on the exchange rate at the time.

Converting a risk rule into pips is the practical step that makes it tradeable: a dollar limit divided by the dollar value of a pip gives the stop distance a position can afford.

[Rules handbook](https://getfundednow.com/rules) · [Forex at GFN](https://getfundednow.com/instruments/forex) · [More trading mechanics](https://getfundednow.com/glossary/category/mechanics)

Related

## Terms that come with it

Most rules only make sense next to the ones they interact with. These are the entries this one depends on.

- [Lot](https://getfundednow.com/glossary/lot) - The unit position size is measured in. One standard forex lot is 100,000 units of the base currency; mini and micro lots are one tenth and one hundredth of that.
- [Position size](https://getfundednow.com/glossary/position-size) - How many lots a trade is placed in. It is calculated from the dollar amount being risked and the stop distance, not chosen first - which is the reverse of how most traders approach it.
- [Tick value](https://getfundednow.com/glossary/tick-value) - What one minimum price increment is worth per contract. It is the futures and index equivalent of pip value, and it converts a stop distance directly into a dollar figure.
- [Standard lot](https://getfundednow.com/glossary/standard-lot) - 100,000 units of the base currency - the full-size forex contract. On most dollar-quoted pairs it is worth roughly $10 per pip, which makes it the reference every other size is scaled from.
- [Spread](https://getfundednow.com/glossary/spread) - The gap between the bid and the ask price. It is the cost paid on entry: a position opens slightly underwater by the width of the spread before the market has moved at all.

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Source: https://getfundednow.com/glossary/pip
Facts about Get Funded Now in one file: https://getfundednow.com/llms.txt