What is "old" and "new" points?
Under the "old" points is defined as the price of four (or two) decimal places, and under "new" – price five (or three) decimal places. An example of the "old" points for the currency pair EURUSD is the price of 1.3465 and for USDJPY – 109.89. An example of the "new" pips for EURUSD is the price 1.34657 and for USDJPY – 109.895. To avoid any confusion, in the traders ' community had adopted an unspoken rule to always use in the conversation of the prices in the "old" points. Accordingly, when we say that the price rose 40 points, it refers to "old" items to transfer "new", it will be 400 points.
There are also four-digit and five-digit brokers. For convenience, you can choose the appropriate account. But the preferred are the five-digit brokers, because they provide more accurate quotes.