5 digit brokers | 5 decimal pricing Forex brokersForex brokers who offer 5 digit (5 decimal) pricingDo you know another Forex broker with 5 decimal pricing? Please suggest by adding a comment below. 5 digit vs 4 digit brokerNot so long ago the 5th digit in Forex pricing was rare, now it is a normal fact - a result of growing competition for clients among Forex brokers. Quotes with 5 decimal places allow better transparency and better fills for investors. Banks have been using the system of fractional quotes for centuries. When large money is involved, the smallest variation in quotes makes a significant impact. For traders the 5th digit means better transparency and ability to catch better deals. Forex brokers call it "precision pricing".
Trading with 5 decimal pricingAdding 5th decimal to the price quotes requires traders to adjust own pip calculations, such as profit and stop values, trailing stops, limit orders etc. For example, when trading with 4 decimal quotes, if a trader wants to capture 30 pips of Profit, he sets a Profit target value to 30. Expert Advisors trading with 5 digit brokersBe sure to check if your Expert Advisor supports 5 decimal pricing. Not every EA does this, and you can get in trouble, or most likely will be unable to take any trades with such EA. Copyright © 100forexbrokers.com | All Rights Reserved |
Roma
December 18, 2009Hi all, we have another 5 digit ecn broker- www.real-forex.com
Roma
BrokerGuru
December 18, 2009Thank you, Roma!
the broker has been added.
trader
December 24, 2009I am currently with United World Capital broker. UWC - United World Capital only offers 5-digit pricing and they do not allow scalping. They previously indicated that they do allow scalping on their website www.uwcfx.com which indicates "accept all scalping EAs" but they removed that feature second or third week of December, 2009. Their client agreement also indicates that "sniping" or scalping is against company policy. I would say that's a subtle way of false advertising. They indicate that they do allow scalping from their website but their client agreement says otherwise. Also, they mentioned they have "no requotes" but once you get profitable in a short time especially for such small capital (micro or mini account), they bombard you with delays and requotes the next day.
BrokerGuru
December 24, 2009Thank you for a really useful feedback and review.
I'll check the Client agreement and update the listing accordingly.
Happy holidays!
trader
December 31, 2009Here is MIG Bank ...they have 5 digit pricing and just turned a Bank. They are in Switzerland. They have Mini accounts.
BrokerGuru
January 2, 2010Thank you, MIG BANK is now listed!
JT
January 30, 2010Great website. Any chance of creating a list of brokers that still use 4 decimal pricing since some of the software I use is doesn't work well with 5 decimal pricing? Thank you.
JT
BrokerGuru
January 31, 2010Hi JT,
yes, but I think you can simply assume that if a broker is not on the list, it most likely has a 4 digit platform.
Some brokers have both 4 & 5 digit platforms available, in this case - the above list won't help, I agree.
In such case, you can use our Advanced broker Search to filter out 4 digit or 5 digit brokers (this option can be found under "Decimal pricing").
trader
March 4, 2010Hi BG
I wonder how come STP broker like UWC - United World Capital not allow scalping?
STP broker should have restrictions on trading seen there's no conflict of interest?
Thank You!
BrokerGuru
March 4, 2010STPs may put restrictions when they streamline orders to their liquidity providers who have restrictions on scalping.
trader
March 5, 2010what's the best broker to use that's non ECN and no NFA rules? The EA I just purchased to try for 60 days says it will not work with new NFA rules and ECN brokers.
BrokerGuru
March 5, 2010non-NFA condition is understandable, while non-ECN conditions is probably there due to commissions.
If so, get a regulated STP broker, with MT4 platform (I'd assume the EA is for MT4).
Does the EA has requirements about spreads being fixed or variable?
You can settle as well with a market maker, if the broker is regulated and has been around for several solid years.
I can't choose a broker for you or recommend a broker, because it'll be against our website policy and will definitely not be liked by other brokers whose names won't be mentioned.
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