# what is difference's between pips, point and tick?

I meet in manual for forex trade pips, point and tick

this all the same or it is differeces

Migdal DRAGAN: I meet in manual for forex trade pips, point and tick. this all the same or it is differeces

It might be best to run as search before posting.

Ticks, pips or points in the GUI. Make up your mind.

William Roeder, 2014.11.19 17:45

1. When mt4 was written, there was only currencies and only 4 digit brokers (pip=point.) Then came 5 digit brokers (pip=10 points) and then metals (tick >= point). The GUI has never been changed and translations from Russian are always suspect. If you see pip, that is always point.
2. There is Tick, PIP, and Point. They are all different in general. A tick is the smallest change of price. A Point is the least significant digit quoted. In currencies a pip is defined as 0.0001 (or for JPY 0.01)

On a 4 digit broker a point (0.0001) = pip (0.0001). [JPY 0.01 == 0.01] On a 5 digit broker a point (0.00001) = 1/10 pip (0.00010/10). Just because you quote an extra digit doesn't change the value of a pip. (0.0001 == 0.00010) EA's must adjust pips to points (for mq4.) In currencies a tick is a point. Price can change by least significant digit (1.23456 -> 1.23457)

In metals a Tick is still the smallest change but is larger than a point. If price can change from 123.25 to 123.50, you have a TickSize of 0.25 and a point of 0.01. Pip has no meaning.

This is why you don't use TickValue by itself. Only as a ratio with TickSize. See DeltaValuePerLot()