Pips are how forex measures motion
A pip is the smallest common price increment — 0.0001 on most pairs, 0.01 on yen quotes. Your pip value depends on how many units you trade and which currency is quote.
On EUR/USD, one standard lot (100,000 units) moves about $10 per pip. A mini lot is roughly $1. That linear scaling is why lot type matters as much as direction.
Cross pairs need a conversion rate to express pip value in your account currency. This tool uses your rate input — live spreads and margin are broker-specific.