Yes, there are "penny pips" at some dealers
IBFX, for example has a mini account, $10,000 lot size, but permits .01 lot to trade
$10,000 size, $0.01 per pip, at .01 lot
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Quick question.
I think:
A standard lot = $10 (per pip), (1 lot)...
A mini lot = $1 (per pip), (0.1 lot)...
A micro lot = $0.10 (per pip), (0.01 lot)...
If the above is correct...
Is there a such thing as a penny pip?