What is the difference between 4 digit broker and 5 digit broker?

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ching
96
ching  

I would like to know what is difference between 4 digit broker and 5 digit broker and also give your views which broker is good 4 digit or 5 digit?

myname
3232
myname  
ching100:
I would like to know what is difference between 4 digit broker and 5 digit broker and also give your views which broker is good 4 digit or 5 digit?

If you are scalping, better to use 5 digit brokers (more opportunity). Other than that it depends from broker to broker. I have 2 accounts (one on 4 digit broker and one on 5 digit broker) and I am satisfied with both - no big difference in longer term trading. I even prefer 4 digit broker (less false impression that all is changing all the time - I want just the important changes)

sebatian
676
sebatian  

no difference

only more ticks on 5 digits an smaller steps

techmac
2976
techmac  

Sometimes even a 0.1 pip means a big difference. It is much easier to trade 5 digit brokers than 4 digit brokers (prices are similar but your choice of entry end exits is much better)

cynthia
36
cynthia  

Four digit broker are broker that offer currency quotation in 4digits while 5 digits brokers offer currency quotation in 5 digit the difference is the number like profiforex offers both 4digits and 5digits, if you login into the mt4 platform you will see there are both quotations there.

name
992
name  

No difference - if you do not want to scalp. Then 5 digit broker is much better for scalping (if the broker allows it)

myname
3232
myname  

Less ticks on 4 digit brokers

trader_ph
183
trader_ph  

the digit is just another increment thats gives more detail and yeah i guess its better for scalpers, but most good working eas work on a 4 digit brokers and 5 digits might mess it up. i trade with hotforex

myname
3232
myname  

Isn't then a problem in the EA (that it does not recognize 5 digit brokers)? If it was made for 4 digit brokers then it should be adjusted to recognize 5 digit brokers automatically

eliana
139
eliana  

A 4 digit broker offers a platform on 4 digit while 5 digit offer platform on 5 digit .And i know 5 digit is better.

Jotek Tallington
144
Jotek Tallington  

1 digit? sorry, couldn't resist

123
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