MARKETS · FOREX
Foreign Exchange
The $7T-a-day market. Prices quoted as base/quote — EUR/USD = 1.0850 means 1 euro costs $1.0850. A "pip" is the smallest standard move (0.0001 for most pairs, 0.01 for JPY pairs).
FX sessions (right now, UTC 3:00)
Sydney22–07 UTCTokyo00–09 UTCLondon08–17 UTCNew York13–22 UTC
Note: DST shifts London / New York by 1 hour. Sydney and Tokyo don't observe DST.
| Pair | Symbol | Category | Pip Size | Typical Spread | |
|---|---|---|---|---|---|
| EUR/USD | EURUSD=X | major | 0.0001 | 0.5 pips | CHART |
| GBP/USD | GBPUSD=X | major | 0.0001 | 1.0 pips | CHART |
| USD/JPY | USDJPY=X | major | 0.01 | 0.7 pips | CHART |
| USD/CHF | USDCHF=X | major | 0.0001 | 1.2 pips | CHART |
| AUD/USD | AUDUSD=X | major | 0.0001 | 0.7 pips | CHART |
| USD/CAD | USDCAD=X | major | 0.0001 | 1.0 pips | CHART |
| NZD/USD | NZDUSD=X | major | 0.0001 | 1.2 pips | CHART |
| EUR/GBP | EURGBP=X | cross | 0.0001 | 1.0 pips | CHART |
| EUR/JPY | EURJPY=X | cross | 0.01 | 1.2 pips | CHART |
| GBP/JPY | GBPJPY=X | cross | 0.01 | 2.0 pips | CHART |
| AUD/JPY | AUDJPY=X | cross | 0.01 | 1.5 pips | CHART |
| USD/MXN | USDMXN=X | minor | 0.0001 | 20.0 pips | CHART |
| USD/ZAR | USDZAR=X | minor | 0.0001 | 30.0 pips | CHART |
What's a pip?
A "percentage in point." On EUR/USD moving from 1.0850 → 1.0851 is one pip (0.0001). On USD/JPY moving from 150.10 → 150.11 is also one pip (0.01). Pip value in dollars scales with lot size — use the calculator on any pair page.
Standard vs Mini vs Micro
Standard lot = 100,000 units of the base currency. Mini = 10,000. Micro = 1,000. One pip on a standard EUR/USD position is ~$10. One pip on a micro is ~$0.10. Same chart, very different risk.