FirewoodFX continues to innovate to facilitate its clients in trading. Most recently, this newcomer forex broker launched a trading account type with a 5-digit price quote so that traders' forex trading gains can be more precise.
This 5-digit quote on a trading account at FirewoodFX is just an improvement. If you already have a trading account at FirewoodFX, either a Standard or a Premium account, then you want to choose this 5-digit quote facility. You don't need to worry. The pre-existing trading conditions will not change.
What exactly is the advantage of the 5-digit trading quote? Why are many forex brokers now actively holding this program? A five-digit price quote is a model at a forex broker that places five decimal places.
So, if the price is usually listed as 1.1234, it will be 1.12345. Some of the advantages of the 5-digit quote program include; price movements being more active, solid, and accurate. Then, even though it depends on the system of each broker, order execution will likely be faster. For traders who use EA, services like this also make the platform more responsive to Expert Advisor (EA) signals.
And most importantly, spreads at five-digit brokers can be smaller, for example, 0.2 or 0.5. So, trading costs are also more efficient. Plus, market price quotes will be more precise so that traders can profit from smaller price movements.
FirewoodFX MT4 Webtrading Platform
In addition to providing 5-digit quotes, FirewoodFX has also recently launched the MetaTrader 4 (MT4) web trading platform, which is equipped with various indicators and tools to make it easier for clients to calculate the steps to be taken in their trading.
The existing indicators on the FirewoodFx web trader platform include an Envelope oscillator with two Moving Averages to form envelopes on the chart, Bollinger Bands, momentum indicators, and MACD. Firewood FX stated in its company news release that the web trading platform would continue to be developed. Complete information about FirewoodFX can be seen in the FirewoodFX broker review.
FirewoodFX is a broker that provides fixed spreads and fixed exchange rates. Apart from that, this broker offers leverage of up to 1:1000, a minimum deposit of $10, and bonus programs to boost traders' earnings.