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What is Metatraders MQ4 Point for this forex trading?

(Last Updated On: April 29, 2015)

What is Metatraders MQ4 Point for this forex trading?

I am trying to understand this exactly what this is? Any experts out there for this ?

http://docs.mql4.com/predefined/pointvar

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Someone on Facebook responded with this:

IMO it’s the pip. But depends what broker you use. So, when your broker has 4 decimal numbers on EURUSD, the point value == pip. If your brokers provides 5 decimal digits on EURUSD, then the point is 0.1 of pip. Good to use it on multi currency pair trading strategies. mby I am wrong, I haven’t worked with mql4 for long…. (cuz it’s sux)

 

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