In forex, what is the difference between a pip and a point?

[Conor Mcnamara]

I know that the value of one point differs between different currency pairs, but generally speaking,  is 1 pip the equivalent of 10 points?

[Sergey Golubev]

The expanation is on this post #674 and on the post #6318 as an example,
and this one is for Gold and Silver) - #2

[Carl Schreiber]

For me in short: point is what I (my EA) get from the broker, pip only verbally used, so I use it (and feel free) to calculate 1 pip as an amount of points that has the value of ~10.0$ to make different assets comparable on a monetary base.

[William Roeder]

PIP, Point, or Tick are all different in general.
          Ticks, PIPs or points in the GUI. Make up your mind. - MQL4 programming forum #1 (2014)

[Conor Mcnamara]

Thanks for the replies. I understood this "point" term, and I guess a pip is a broker-specific term then and people tend to use it when describing points (but the word pip being more popular to use with forex)

[William Roeder]

phade #:  I guess a pip is a broker-specific term then

No! It is a FX symbol specific term. JPY pairs 0.01, else 0.0001.

[Carl Schreiber]

phade #:
Thanks for the replies. I understood this "point" term, and I guess a pip is a broker-specific term then and people tend to use it when describing points (but the word pip being more popular to use with forex)

I was once told that previously there were only pips (in Forex 4 digits) but this was a too big step for the banks so they decided to switch to points (in Forex 5 digits).  This makes it easier for them to practise arbitrage operations with a quite secure profit: small quote difference but big money provides secure profits.

So point is given by the broker (by their liquidity provider) and pip has become technically obsolet but in general it has been 10 times a point - formerly.

[Dominik Egert]

phade:
I know that the value of one point differs between different currency pairs, but generally speaking,  is 1 pip the equivalent of 10 points?

Here, for completeness, the wiki article:

https://en.wikipedia.org/wiki/Percentage_in_point