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Point

A point measures price movement on an index, a stock or a commodity: one whole unit of the price, for example 1 point on the DAX.

On stock indices, traders talk in points, not pips. When the DAX goes from 18,400 to 18,450, it has gained 50 points. The S&P 500 and the Nasdaq 100 work the same way.

What a point is worth depends on the contract. With CFDs, many brokers offer €1 or $1 per point, sometimes fractions of that. On futures, the exchange sets it: €25 per point on the standard DAX future and $50 on the E-mini S&P 500.

On MetaTrader, “point” also means the smallest decimal displayed, which causes confusion. Always read the contract specification for the symbol at your broker.

The full lessonPips, points and ticks: measuring a price moveWhat is a pip in forex, a pipette, an index point or a futures tick? Clear definitions, how to calculate pip value and worked examples you can check.← Full glossary