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Alpari (US), LLC is dually registered with the CFTC as a FCM and RFED and is a member of the NFA. NFA Member ID: 0379678.
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Frequently Asked Questions
5th Decimal Trading
Below you will find some of our customer's most frequently asked questions.
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1
What is the main advantage of trading with a 5th decimal point?
Trading with a 5th decimal point can reduce the difference between the buy and sell price of a currency pair. This feature will present how fifth decimal trading allows us to provide better execution and liquidity for clients. You may notice tighter spreads, more accurate pricing execution and better liquidity with less slippage.
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2
How will Expert Advisors (EA’s) be affected by the introduction of the 5th decimal point?
Some if not all EA’s will be affected by the introduction of a 5th decimal point. To make sure that your EA is brought into line with this change you must adjust your take profit / stop loss settings, as well as any other pip value related parameters by multiplying your current levels by 10. For example, if you are currently using a stop loss level of 40 pips and a take profit level of 80 pips on each trade, in order to bring your EA in-line with the new pricing format, you must change your take profit level to 800 and your stop loss level to 400 respectively.
Also, please be aware that some EA’s may need more fundamental changes to their code for them to be compatible with the new pricing format. To make sure your EA works as you expect, we advise that you contact your EA provider to implement the necessary changes, as well as testing the new version on a demo account.
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3
How should I express my stop loss and take profit orders?
All take profit and stop loss orders that are expressed in points should be multiplied by 10. For example, if you have a short open trade at 1.34500 and you would like to place a stop loss order 40 pips higher at 1.34900, you should input 400 points as the stop loss amount.
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4
How do I select a trailing stop value?
When selecting a trailing stop value, please be aware that all the values listed have already been multiplied by 10. If you would like to set a trailing stop of 40 pips, you should select 400 as the trailing stop value.
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5
How do I see my profit/loss in the previous format?
Simply divide the values you see in the ‘Points in the Profit’ column under the Trade tab. (All profit / loss values expressed as Points in the Profit column under the Trade tab already incorporate the 5th decimal place adjustment.)
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6
How do I accommodate the new pricing format with the maximum deviation feature?
The maximum deviation feature allows clients to ensure trade execution within a specified number of points/pips. You must multiply the desired value by 10 in order to accommodate the new pricing format. For example, if you would like to ensure being filled within 5 pips of the current quote, you must input 50 into the “Maximum deviation” box.
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7
Does the pip value shown in the “crosshair” feature take into consideration the 5th decimal place adjustment?
Yes. For example, if the pip value indicates 1500, this translates into 150 pips.
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8
Who do I contact if I need assistance regarding the 5th decimal price feed?
We are on standby to provide any assistance required to our clients. All concerns should be directed to our Client Services Team.
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9
How will my charts be affected?
In order to use your charts when working with the 5th Decimal Price Feed you will need to close existing charts and open new ones. If you have drawn lines or indicators on your charts, you need to remove those lines and re-draw the applicable lines.
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10
When switching to 5th decimal, will my open positions be affected?
No, open positions and orders will not be affected by the switching of 4th decimal trading to 5th decimal trading.
You can also browse additional Frequently Asked Questions on the following topics:
If you cannot find the answer to your question, please contact our Client Services Team Monday to Friday from 9:00AM - 6:00PM at 1-646-825-5760 or via email on cs@alpari-us.com
