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

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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?

 
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)

 

no difference

only more ticks on 5 digits an smaller steps

 

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)

 

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.

 

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

 

Less ticks on 4 digit brokers

 

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

 

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

 

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.

 

1 digit? sorry, couldn't resist

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