Point

A point is the smallest digit a broker quotes, usually a tenth of a pip.

If EURUSD is 1.10505, the last digit is the point. Ten points make one pip on a five decimal quote.

Platforms often report the spread in points, so a spread of 12 points is 1.2 pips. Reading one as the other is how a cost looks ten times smaller than it is.

Also called: pipette, point vs pip

A definition, not financial advice. Trading carries a risk of loss.