CFDs are a leverage product and can involve a significant risk of loss. Trading CFDs may not be suitable for all, therefore you should ensure that you understand the risks involved and take into account your individual circumstances.
Trader's Glossary

What is Pip?

A pip (or percentage in point) is the smallest unit when describing the value of a currency pair. This is usually the fourth decimal place, or 1/10,000th of the quote currency in a pair. In the case of the Japanese yen it is the second decimal place, or 1/100th of the quote currency in a JPY pair. Nowadays many currency pairs are calculated to five decimal places, this fifth decimal place is often referred to as a ‘pipette’.