Where can I find the English code translation of mT4 symbols?
You are welcome to contact the customer service team to request the MT4 symbol chinese and English comparison form. Customer service email: [email protected], toll-free customer service line: 0080-114-7180.
What is a spread?
Spreads are the difference between the bid and ask prices of a currency pair, i.e. the transaction cost that a trader pays when he opens a position.
Taking EUR/USD bid price 1.11678, and ask price 1.11661 as an example, you buy a lot of EUR/USD at price 1.11678, and if the quote does not change, you close the position at the price of 1.11661, you suffer the loss of 1.7 pip, and when the bid price is above 1.11678, you start trading profit.
What is a pip?
Pips are the smallest units in Forex trading and are often used to calculate the profit or loss of a trade. Of all currency pairs involving the yen, pip is the second decimal point after the quote, and in currency pairs other than the yen pair, pip is the fourth place after the decimal point of the quote.
If the price of GBP/USD rises from 1.18000 to 1.19000, we can say "the pound is up 100 pips or the dollar is down 100 pips", and if the price of USD/JPY falls from 100.530 to 100.500, we can say "the dollar is down 3 pips or the yen is up 3 pips".
Is the spread fixed?
The spread is not fixed.
Based on volatility and liquidity in the Forex market, quote spreads vary. In most cases, we can provide lower, more stable spreads, but when low liquidity, low volume hours or major news and economic data are released, our spreads will rise as soon as the buy-to-let price gap in the market widens.
When is the spread the highest and lowest?
"Regular trading hours" usually mean 09:00 to 16:00 EST (i.e. 22:00 To 05:00 Taipei Time), when the U.S. market opens, when the spread of the segment is called the regular spread. In contrast to the regular trading session, the spread of the period is referred to as "pre-market/after-market spread".
In general, the liquidity of the regular trading session is higher than the pre/post-market trading session, so the regular spread will be lower than the pre-market/post-market spread. In addition, when major economic data are released and sudden financial events occur, market volatility will cause some banks and trading institutions to suspend their quotations and trading for risk management reasons, resulting in insufficient liquidity in the market during this period, spreads may be higher than normal trading hours.