Until recently, all Forex quotes had 4 digits. But recently, many brokers have turned to 5 digit Forex quotes with the last digit signifying a partial pip. A 5 digit quote is more accurate. There is more room to play as the prices can be broken down further. You can choose to play with half-pips or any other partial amount and this allows traders, especially scalpers, more room to play with. Big traders also enjoy more favourable spreads with 5 digit quotes.
If a broker decides to switch to 5 digit quotes, your software you may not be applicable any more. It is important to check this out before placing additional trades. New account holders should compare different 5 Digit Forex brokers before deciding which one to choose. Check out our listing below to see a comparison of the top 5 Digit Forex brokers