Please take a look around, and feel free to .
What if the account that you are holding has five decimals? like 0.34567. Is the number "6" the pip? or its the "7"? To be honest my understanding is that the pips is the smallest decimals that we use. So if we have 5 decimals account then the 5th decimals is the pips and if we have four decimals account only the 4th number is the pips.Pip is the fourth number of exchange rate (4 digits). You shouldn't care about ",". This is true to, for example, EURUSD 1.3000 and USDJPY 99.99.
What if the account that you are holding has five decimals? like 0.34567. Is the number "6" the pip? or its the "7"? To be honest my understanding is that the pips is the smallest decimals that we use. So if we have 5 decimals account then the 5th decimals is the pips and if we have four decimals account only the 4th number is the pips.
Fifth digit is NOT pips. For easy understanding, let's take this as example, you buy EURUSD at 1.30000 and it is now 1.30502, and thus your current P/L pips is (1.30502 - 1.30000)*10000 = 50.2 pips
I want to emphasize that no matter your trading account supports 4 digits or 5 digits, pips is based on fourth digit.