Unit Price in FOREX & 5 Digit

Pip or the point : the smallest unit for movement in the FOREX
Example :

1.4800 prive moves to 1.4815, the means to move up 15 pips
and pips determine your profit and lose.

Lot : units of the contract ( contract size ) or volume
1.0 Lot = $100,000 contract size quantity
0.1 Lot = $10,000 quantity contarct size

Example : Buy 2.o Lot of EUR/USD at 1.4750, means Purchasing 200,000 EUR by exchanging
( selling ) 1.4750 x 200,ooo = USD 295,ooo

Spread : Sell price difference and Buy ( difference between bid and ask prices )

Account Type : Standard Account ( can be used 1 lot and 0.1 lot )