After launching WebTrader MT4, FirewoodFX has returned with exciting news. This time, the news about the FirewoodFX forex broker brings fresh air to scalpers. This broker has just launched a trading account with 5-digit price precision. What are the specifications for the 5-digit account type from FirewoodFX? And how do you apply for it?

Added as an Existing Account

FirewoodFX provides easy trading with 5-digit quotes in 2 types of pre-available trading accounts: Standard and Premium. Thus, the choice of 5-digit precision will not change any previously listed conditions on the FirewoodFX Standard and Premium accounts.

FirewoodFX Standard Account has a minimum deposit of 10 USD, leverage up to 1:1000, minimum trading with micro lot size (0.01 lot), and fixed spread starting from 2 pips. Meanwhile, the Premium account seems more aimed at experienced traders with a higher capital requirement. This account type has a minimum deposit of 100 USD, and the minimum trading lot is the size of a mini lot (0.1 lot). However, the Premium account is more lucrative in terms of spreads because the fixed spread can be as low as 1 pip. Both the Standard and Premium types have a swap-free feature.

To register a FirewoodFX account with 5-digit precision, you only need to choose Standard (5-Digits) or Premium (5-Digits) account type when filling out the account registration form. You can also directly check the difference in the value of trading instruments with 4-digit quotes (ending with fw) and 5-digit pairs (ending with f) in the Margin Calculator section.

Trading Conditions Improvement

The release of this 5-digit quote system is genuinely the much-awaited addition to perfecting the trading conditions at FirewoodFX. Since its founding, this broker has often promoted conducive trading conditions for all traders. Not only account specifications, several provisions such as the permissibility of hedging, scalping, and EA also color the ease of trading offered by this broker. Previously, these advantages were still hampered by price precision on FirewoodFX accounts, which were still 4-digit.

Why is 5-digit Precision Better?

The 5-digit price precision is a recent adjustment to accommodate developments in the forex world. Even though not all brokers provide this system, slowly, more and more brokers are adding 5-digit quotes, and some are even changing from the old precision of 4 digits to 5 digits. This is not surprising because with 5-digit price quotes, you can get many benefits such as tighter and more accurate price movements, faster trade execution, lower spreads, and so on.