gaining a pip means that the last digit beyond the decimal goes up by 1. However, who decides how many decimals the qoute goes to? For example… in pip school they say that usdjpy = 118.80 so if it goes to 118.81, thats a pip. But how is the precision of it decided. Some other currency pairs extend the decimal to four places… so 1 pip would be a gain of .0001.

Also, on some of my demo accounts, I will buy for say 131.155. But several times i have seen the decimal extended to say 131.1555 instead of just going to 131.160. why is that?