What is 4 digits forex broker?
Most forex brokers usually quote currency in 5 digits, but there are some brokers who help traders to carry out orders in the forex market with currency quotations in 4 digits.
Currency prices are accurate to 4 digits.4 digit refers to currency values such as EURUSD=1.1711. The price of the currency has four digits after the decimal point. It is said by many that currency prices are accurate to 4 digits.
Example of 4 digits currency quotes/forex quotes
Suppose the current price quotation of EUR USD is 1.1711. If the next day the price rise to 1.1761, it means the price rises 50 pips. The 4 decimal digits calculation helps to clarify the counting of the difference between 2 different currency prices.
Benefits of 4 digits forex broker
Here in the currency market, the smallest price fluctuation is expressed by pips. Whether any trader makes a loss or profit is considered by pips value. So if you calculate your pips of 4 digits, then the calculation becomes easy.
Get an accurate calculation
In the forex market, the more accurate calculation you make, the chance is higher you will end up making a profit in trading. If you become aware of the slightest change in the currency pairs movement, then your calculation will be more perfect, and it is only possible for you to trade in a 4 digits broker. In 5-digit brokers, you will lose your temper often when you have to make an extra calculation for the tenth decimal digit.
M4 and mt5 trading platforms
All the forex brokers provide mt4 and mt5 platforms; if you choose 4 digits forex broker, then your trading will be easier.
Features of a good 4 digits forex broker
Broker regulation: if you have any disputes in the trading, the broker has the ability to solve that situation as an arbitrator. If your broker is not under a good regulatory body, then it will not be possible for them to handle this situation.
Activities in the international market: always try to follow whether your broker has any activities in the international market or not. If your broker arranges seminars, presentations, demo contests, live trading contests, then it is a good 4 digits broker.
Support system: 4 digits forex brokers always support their customers warmly. This customer support can play a vital role in understanding whether your broker is a good or bad one.
Deposits and withdrawal process/funding methods: if you count your broker as a reputable broker, then it must have the features that it won’t take more than ⅔ days time to process your withdrawal or deposit money.
Mobile Trading : Every good forex broker should have mobile trading platform.Because nowadays trader feel more comfort on trading mobile.
4 digits 6 Best forex brokers list
1. XM
The headquarter of XM broker is in Cyprus. for giving benefits to its clients, XM also has opened many branches in Europe, Asia, Africa, Australia.
XM is regulated from IFSC,ASIC,FCA,DFSA and CySEC. The minimum deposit of this popular broker is 5 dollars. average tighter spreads are 0.1 pips
XM charges commission. The commission is 3.5 US dollars per 100,000 USD traded. There are no fees in the deposit and withdrawal process of the XM broker. This broker offers high leverage like 1:888 at maximum. You will get trading bonuses and welcome bonuses from this broker. Customer support is awesome 24/5 here.
2. Exness
The headquarters of Exness is in St. Petersburg, Russia. Exness was first founded in 2008. Exness is regulated from CySEC, FCA. The minimum deposit of this broker is 1 dollar. average spread is 1.3 pips
Exness charges commission. The commission is 3 USD and 10 USD per 1 lot for CFDs. There are no fees in the deposit and withdrawal process of Exness broker. This broker offers high leverage like 1:2000 at maximum. You will get trading bonuses and welcome bonuses from this broker. Customer support is awesome 24/5 here. You will also get multilingual customer service available here. This one is the best broker for Meta Trader 4
3. Alpari
Alpari was established in Kazan, Russia, in 1998. Alpari (UK) was founded in 2004. The headquarter of Alpari is in Kingstown, Saint Vincent, and the Grenadines. This is a private company, and the founder is Andrey Dashin.
Alpari is regulated by Financial Services Commission (FSC). The minimum deposit of this broker is 100 dollars. average spread is 1.2 pips
Alpari charges commission. The commission is charged at 4 units of the Base currency. There are no fees in the deposit and withdrawal process of the Alpari broker. This broker offers high leverage like 1:1000 at maximum. You will get Cashback Promotion from this broker. Customer support is awesome 24/5 here.
4. eToro
eToro broker focuses on social trading. The headquarter of eToro is in Tel Aviv-Yafo, Israel. eToro is regulated from CySEC, FCA, ASIC. The minimum deposit of this broker is 50 dollars. The average spread is 0.75 pips eToro doesn’t charge commission. There are fees in the deposit and withdrawal process of eToro broker. The deposit and withdrawal fees are 5 dollars. This broker offers low leverage like 1:30 at maximum. You will get US Dollar 50 Welcome bonus Offer And US Dollar 50 Per Referral from this broker. Customer support is awesome 24/5 here. You will also get multilingual customer service available here.
5.LiteForex
The headquarters of Lite Forex is in the Marshall Islands. Lite Forex was first founded in 2005. Lite Forex is regulated by Marshall Islands Business Corporation Act. The minimum deposit of this broker is 50 dollars. average spread is 1.9 pips
Lite Forex charges no commission. There are no fees in the deposit and withdrawal process of the Lite Forex broker. This broker offers high leverage like 1:1000 at maximum. You will get a 100% forex deposit bonus from this broker. Customer support is awesome 24/5 here.
6. Dukascopy
The headquarters of Dukascopy is in Geneva. Dukascopy was first founded in 2004. Dukascopy is regulated from FINMA. The minimum deposit of this broker is 100 dollars. The average spread is 0.3 pips. Dukascopy charges commission. The commission is US Dollar 49.5 per US Dollar 1 million traded. Fees are needed in the deposit and withdrawal process of Dukascopy Broker. Fees vary depending on the method. This broker offers low leverage, like 1:200 at maximum. You will get a 10% Equity Bonus from this broker. Customer support is awesome 24/5 here.
