Innovative Service for Trading Signals for MetaTrader 4 and MetaTrader 5
Metatrader offers a very unique service for both traders and trading system developers. Metatrader offers a platform for developers to sell their signals as well as this same platform for traders to pick and choose signals which meet their profit & risk objectives. This a wonderful win win for both parties. Many traders either do not have the ability or knowledge to develop trading signals therefor need the guidance and assistance of professional system developers. Conversely system developers have a platform in which to demonstrate their services and systems. Thousands of potential clients are within reach for these system developers.
The process can easily be visualized by this diagram for trading signals
Signal Sellers Traders
Metatrader is diligent in providing transparency and security for traders looking to purchase trading signals. The goal of Metatrader is to provide a platform with security both traders and developers for best forex signals.
1. It is a very quick and simple process of buying and selling trading signals.
2. Full transparency of trading history as well as drawdown are available for inspection
3. Payments are regulated and have a fixed subscription fee.
4. Traders are protected by Metatrader by if there is a disagreement or conflict with a Signals Provider monies are returned to the trader.
5. Metatrader has no bias and simply runs the platform and charges a 20% commission.
6. There are no long contracts or obligations.
7. Your privacy is protected fully as No personal data on Subscribers is collected.
8. What also is unique that signal providers have no direct access to the clients. Their identity is unknown.
9. Work with any MetaTrader-broker, including regulated-ones.
10. Metatrader strives for a fraud free environment
Traders can research signal sellers very easily due to the transparency offered by Metatrader as in the below example.
Once a trader has decided on a signal seller it is very easy for them to start trading. Traders need only three things to subscribe to a signal seller.
1. MQL5.com account. There is no need to specify a real name. Even a nickname is acceptable. h
2. Specify their broker. The list of appropriate companies will be automatically displayed upon entering the first letters.
3. Specify the account number on the broker’s server. Only the account number is required. Neither Investor nor Master password is requested, as they are not necessary for transferring trading signals into the trader’s terminal.
These are all necessary things required to subscribe to the Provider’s signal. The process has been streamlined and the amount of necessary data has been kept to an absolute minimum. Please note a single trading account can be managed by the signals of only one Provider at a time. Metatrader has deliberately banned using several signals on a single account to protect traders from unexpected losses, again just another example how Metatrader looks out their clients.
Even signup for signal developers is quick and easy. However to ensure the clients protection such additional steps are needed in order to become a signal developer. Signals Providers need to provide more personal data and pass a probationary period. Generating signals for other traders imposes some responsibility on Providers. To ensure Subscriber’s protection, Signals Providers should specify the following personal details: first and last names, address, contact phones and scanned copy of a passport or a similar document. This information may be necessary in case of any disagreements between a Subscriber and a Provider. This information will not be disclosed to any third parties. Some signal providers supply free signals however if a signal is not free, it should pass a one-month probation period, while the Provider should pass moderation and register as a Seller providing actual personal details
When publishing a new signal, Providers should specify:
1. Signal name
2. Trading terminal type - MetaTrader 4 or MetaTrader 5
3. Broker’s trading server name
4. Number of the account that will transfer the signals
5. Investor password. This password allows to connect to a trader’s account in READ ONLY mode and view the current trading operations, as well as their history. This password is enough for “scanning” the current trading operations and their further distribution among Subscribers. At the same time, this password does not allow managing a trading account and performing trade operations. If a Master password is specified, the signal is not enabled.
6. Subscription price
To the best of my knowledge I do not other services for traders as well as developers that make systematic trading so efficient. I suggest you check out Metatrader if you are a trader as well as a developer for best forex signal service.
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