4 or 5 digit brokers?

Trading Systems Expert Advisors and Automated Trading
1

I am new to forex trading and keep seeing people talking about 4 digit broker or 5 digits broker what does it mean??? Thanks

2

Basically it is talking about how many decimal position a broker goes out. 1.4323 is a 4 digit broker and 1.43239 is a 5 digit broker. i have only dealt with a few brokers forexcom is a 4 digit broker and oanda is a 5 digit broker.

3

Oh, Thanks.

I had the same doubt! LOOL;)