Forex Forum to Share, Discuss, Communicate and Trade Forex

Why Forex Metal uses 5-digit quotes for most currency pairs?

These forums for various Forex brokers are for any new announcements from them. But if you have any pains in dealing with them then please speak up. It's always possible that the house-doctor of the concerned doctor comes out with the right pain killer.

Why Forex Metal uses 5-digit quotes for most currency pairs?

Postby mdenamul » Mon Oct 01, 2012 7:50 am

Forex-Metal use 5-digit quotes because they add a so called fractional pip at the end. Instead of quoting prices with four digits, i.e. EURUSD at 1.3401 / 1.3402, They now quote the pair as 1.34014 / 1.34032. The last digit is the fractional pip, it is often displayed smaller then other digits to indicate that it is in fact not a full pip. The pip value for a EURUSD 100,000 position is $10 and the value of a fractional pip for this same position is $1. A fractional pip is a tenth of a pip and the addition of this feature to our account allows us to take advantage of smaller price increments and moves in the market.
Need equities Trader to trade with our capital/
Posts: 146
Joined: Sat Sep 15, 2012 8:15 pm

Return to Forums for Forex Brokers


Who is online on Forum

Registered users: Andrea ForexMart, Baidu [Spider], Bing [Bot], doddy879, FXSVPS, Google [Bot], Google Adsense [Bot], katetrades, michalinaobrien, Yahoo [Bot]