How is this going to affect EA's??
MG
++++++++++++++++++++++++++++++++++++
Interbank FX is introducing 5th decimal pricing!
As part of our continuing commitment to delivering the optimal customer experience, we are introducing 5th decimal pricing on our currency pairs. The 5th decimal prices will be available on our primary demo server "InterbankFX-Demo Accounts" starting Sunday evening at 8pm EST on April 12th, 2009
Why 5th decimal pricing?
Adding the 5th decimal point can reduce the spread, or difference between the buy and sell prices of a currency pair. You may notice tighter spreads as we enable the 5th decimal pricing on our trading platforms. However, spreads are not fixed and may widen in volatile conditions.
How will this affect Expert Advisors (EAs)?
Most EAs will be affected by the introduction of the 5th decimal point. Please make sure that you have adjusted all pip value related parameters, such as take profits or stop losses, to allow for the additional decimal point. For instance, if you are currently using a stop loss level of 20 on a four decimal pair, you would have to change the value to 200 to get the same execution on a pair with a 5th decimal. Please be aware that some EAs will need fundamental changes to ensure that they will work as you expect. We would suggest that you use your EAs on our demo accounts before using them on your live account to ensure they are working properly.
How does this affect Stop Losses, Take Profits and Maximum Deviation?
All take profit, stop loss, trailing stops and maximum deviation values that are expressed in points should be multiplied by 10. For example, if you would like to enter a Maximum Deviation of 5 pips, you would enter 50 into the Maximum Deviation field.
How does this affect the profit / loss values expressed in the Trade tab in the Terminal?
All profit & loss values already incorporate the 5th decimal place adjustment when they are expressed as Points in the Profit column under the Trade tab in the Terminal window in MetaTrader.
Does this affect Trailing Stops?
Yes. When you are setting a trailing stop value you will multiply it by 10.
How do I connect to the demo server offering 5th decimal pricing?
Many demo accounts currently use the server titled InterbankFX-Demo Accounts (mt4-demo1.ibfx.com). Those accounts will immediately see the 5th decimal pricing. Demo accounts configured to use the server titled InterbankFX-MT 4 Demo Accounts 2 (mt4-demo2.ibfx.com), will need to open a new demo account on InterbankFX-Demo Accounts. If the correct server is not listed as an option when opening a new demo, select Tools, Options, Servers on the MT4 Client and enter mt4-demo1.ibfx.com in the space provided. Click ok. The server should now appear in the list of available servers on the Trading Servers screen.
MG
++++++++++++++++++++++++++++++++++++
Interbank FX is introducing 5th decimal pricing!
As part of our continuing commitment to delivering the optimal customer experience, we are introducing 5th decimal pricing on our currency pairs. The 5th decimal prices will be available on our primary demo server "InterbankFX-Demo Accounts" starting Sunday evening at 8pm EST on April 12th, 2009
Why 5th decimal pricing?
Adding the 5th decimal point can reduce the spread, or difference between the buy and sell prices of a currency pair. You may notice tighter spreads as we enable the 5th decimal pricing on our trading platforms. However, spreads are not fixed and may widen in volatile conditions.
How will this affect Expert Advisors (EAs)?
Most EAs will be affected by the introduction of the 5th decimal point. Please make sure that you have adjusted all pip value related parameters, such as take profits or stop losses, to allow for the additional decimal point. For instance, if you are currently using a stop loss level of 20 on a four decimal pair, you would have to change the value to 200 to get the same execution on a pair with a 5th decimal. Please be aware that some EAs will need fundamental changes to ensure that they will work as you expect. We would suggest that you use your EAs on our demo accounts before using them on your live account to ensure they are working properly.
How does this affect Stop Losses, Take Profits and Maximum Deviation?
All take profit, stop loss, trailing stops and maximum deviation values that are expressed in points should be multiplied by 10. For example, if you would like to enter a Maximum Deviation of 5 pips, you would enter 50 into the Maximum Deviation field.
How does this affect the profit / loss values expressed in the Trade tab in the Terminal?
All profit & loss values already incorporate the 5th decimal place adjustment when they are expressed as Points in the Profit column under the Trade tab in the Terminal window in MetaTrader.
Does this affect Trailing Stops?
Yes. When you are setting a trailing stop value you will multiply it by 10.
How do I connect to the demo server offering 5th decimal pricing?
Many demo accounts currently use the server titled InterbankFX-Demo Accounts (mt4-demo1.ibfx.com). Those accounts will immediately see the 5th decimal pricing. Demo accounts configured to use the server titled InterbankFX-MT 4 Demo Accounts 2 (mt4-demo2.ibfx.com), will need to open a new demo account on InterbankFX-Demo Accounts. If the correct server is not listed as an option when opening a new demo, select Tools, Options, Servers on the MT4 Client and enter mt4-demo1.ibfx.com in the space provided. Click ok. The server should now appear in the list of available servers on the Trading Servers screen.
