Spread Indicator

Hi All,
I have installed/attached a spread indicator to my MT4 charts and it shows the information like this:-
Spread: 23 points with the number changing all the time.
My question is how do I convert this information to the actual spread that the broker charges. do I divide the number by 10? This seems to get it to somewhat close to what I'd think should be the actual spread.

regards
Allan

 

Allan, I assume you are using a 5 digit broker which is why the indicator shows as 23 pips. You are right when you say divide by ten, ie, 23 = 2.3 pips.

 

Thanks Bowmaker,

Yes I am using a 5 digit broker. But thanks for the confirmation. Much appreciated.

Regards
Allan