eur/usd pip value question

My trader friend was teaching me about trading the eur/usd, He said something about how at the current moment, for the eur/usd, each pip is worth ~$12.5 and that each "share" of what he trades is about ~$2600.

Now, everything else I've been reading has been talking about lot size being 10,000 EU or 100,000 EU, so I am confused how this works. Is he trading on margin, if so what ratio? Is he buying a lot, mini lot, etc.?

If anyone could help explain this for me, I would greatly appreciate it.

Means he's trading with ~125 micro lots. If you trade with 1 standard lot on the EURUSD 1 pip is $10, 1 mini lot would be worth $1, 1 micro would be $.10 ...

Works like this:
100,000 * .0001 = $10
10,000 * .0001 = $1
1,000 * .0001 = $.10

As for his "share" ... who knows what kind of arrangement he's got. You'd have to ask him.