I have a question in regards 4 and 5 digit brokers, the thing that I dont understand is if a 5 digit broker proceeds 10 pips. . Is that only 1 pip for your 1 4 digit broker??
For instance:
Price on a 5 digit is 1.47612 and if it goes 10 pips its 1.47622
but the exact same move on a 4 digit broker is: 1.4761 then after the 10 pip transfer is 1.4762 therefore its 1 pip
I was wondering if that is correct. . And if so. . What exactly does it imply?? wich one is better ?? And when folks talk about stop loss and profit by pips might be quite confusing if a person is talking about a 30 pip SL or a 50 pip profit and is using a 4 digit account it would signify that its actualy a 300 SL and also a 500 profit. .
I hope someone can help out cause i find this very confusing. .
Thank You!!