Start trading GBP/JPY

Contracts specifications

MetaTrader 5

Parameters

Data

Symbol

GBP/JPY

Symbol represents the stock ticker that is basically a report of certain financial entities in the trading platform — it is updated continuously throughout the trading session.

Spreads in Pips

Floating from 0.3 pips

Typical Spread — it represents the regular value of a floating spread during a typical market enviroment. In the case of cash indices—the regular value of a spread during the trading hours of a stock index). Spread is measured in pips.

The term “Pip” is used for Forex instruments quoted to the fifth place after the decimal point (e.g. AUDJPY – 1.08052). One pip equals a price increment of exactly 0.00010.

For instruments quoted to the third place after the decimal point (e.g. AUDUSD – 115.521), one pip equals a price increment of precisely 0.010.
In the case of spot metals, one pip equals a price increment of exactly 0.01.
For cryptocurrencies and indices, one pip equals to a price increment of precisely 1.0.
In the case of other instruments, one pip equals a Tick Size.

Commission

8$/lot

Commission represents the total fee for changing the state of a position (opening or closing it).

Leverage

up to 30

Leverage is, essentially, an account boost for the trader’s capital, allowing him to open a higher position (e.g. leverage 1:100 means that a $10,000 contract needs only a $100 margin).

If you are an experienced trader, you understand that using the Great Britain Pound and the Japanese Yen currency is most beneficial. Both currencies represent two of the powerful economies in the globe. The GBP/JPY duo computes the level of success determined by Great Britain and Japan economy.

When considering this duo, it is important to note that the Great Britain Pound is the base currency which makes it most appropriate to distinguish the advance. The Japanese currency (Yen) influences the GBP/JPY duo differently.

The progress of the Japanese Yen brings about the decline in the market price of GBP/JPY quotes. Nonetheless, this is a minimal hazard that offers a wonderful connection to greater earnings. If you are more advanced in your trading career, this could be an impressive investment portfolio. First investors for Forex take advantage of this opportunity to modify asset risks. For those who wish to trade with GBP/JPY, get in touch with an 6ixmarkets to quickly create an account.