Definition
Pip
The standard price increment in forex: 0.0001 for most pairs, 0.01 for JPY pairs.
P&L math runs on pips: for USD-quoted majors, one pip on one standard lot is $10. Stops, targets and position sizing all reduce to pip distances times pip value.
A 'pipette' is a tenth of a pip — most platforms quote in pipettes, which trips up quick mental math.
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General industry definitions — individual firms define terms differently in their own ToS; the decoded rulebook for each firm is the source of truth. Educational, not financial advice.