A tick is a minimum price increment in a market. If a tick equals $0.25, the price can change by $0.25 or a multiple thereof. A pip is a change by 1 of the last digit in the quote record. If a tick equals 0.25, a pip is 0.01.In this instance, a tick would contain 25 pips. Ticks and pips are the same for a number of CFDs