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New opportunities in trading on FOREX with 5 decimal places

Publication Date: January 23, 2009

Dear Clients!

«Alpari» keeps on improving its services and their quality and in this connection we’re introducing a new pricing format with 5 decimal places on all FX quotes.

This innovation allows us to provide our clients with tighter spreads in many popular currency pairs, more accurate pricing and execution.

Starting from January 26, 2009 you’ll be able to test your trading strategy on alpari.demo accounts with the 5 decimal places pricing format.

If you have open positions running they will be automatically adjusted to the new format.

Introduction of the new pricing format with 5 decimal places on alpari.classic and alpari.micro accounts is scheduled for February 9, 2009.

Note!

  1. Please be aware that the new price feed implementation will affect your Expert Advisors. To make sure that your EA is brought into line with this change you must adjust settings of your pending orders «Buy Stop», «Sell Stop», «Buy Limit», «Sell Limit» and «Stop Loss» and «Take Profit» 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.
  2. In similar fashion to EA’s, some indicators could be affected by the new pricing format. To make sure your particular indicator works as you expect we advise that you contact your indicator provider to implement the necessary adjustments.
  3. The levels of all manually set orders: «Buy Stop», «Sell Stop», «Buy Limit», «Sell Limit», «Stop Loss» and «Take Profit», that are expressed in points should be multiplied by 10.
    For example, if you want to open a short position at 1.34500 and you would like to place a stop loss order at 1.34100, you should input 400 points as the stop loss amount.
  4. When selecting a «Trailing Stop» value please be aware that all the values listed have already been multiplied by 10.
  5. So if you would like to set a «Trailing Stop» of 40 pips, you should select 400 as the trailing stop value.
  6. All profit / loss values expressed as Points in the Profit column under the Trade tab already incorporate the 5th decimal place adjustment.
  7. The maximum deviation feature allows clients to ensure trade execution within a specified number of points/pips. In order to accommodate the new pricing format you must multiply the desired value by 10.
    For example, if you would like to ensure being filled within 5 pips of the current quote, you must input 50.

Should you have any questions do not hesitate to ask our specialists +44 8449 869559.

Best Regards,
Administration

Category: Trading terms

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