4 and 5 digit brokerages

mystikdragon7 · #1 09-24-2008, 10:23 PM

What is the difference (besides the obvious) if any, between a 5 digit and 4 digit broker? And what are the pros and cons of both?

mystikdragon7 · #2 09-25-2008, 05:06 PM

Is there no pros and cons to this?

alan · #3 09-26-2008, 09:12 PM

Quote:

Originally Posted by mystikdragon7

What is the difference (besides the obvious) if any, between a 5 digit and 4 digit broker? And what are the pros and cons of both?

Tighter quotes...ie more "fine grained" It give you better control over bid/ask. Also with 5 digit brokers you can have spreads lower than 1 pip. So like I said, it's give you better control over pricing.

Some brokers even started offering 6 digit price quotes!

mystikdragon7 · #4 09-26-2008, 10:02 PM

Is there any brokers that use 5 digits that run off of meta trader 4?

alan · #5 09-26-2008, 10:46 PM

Quote:

Originally Posted by mystikdragon7

Is there any brokers that use 5 digits that run off of meta trader 4?

Of course, there are quite a few of them. Some of them that quickly come to my mind are NorthFinance, StrategyBuilderFX, ODL Securities, etc.