Advantages of MQL5 Forex Copy Trading Signals to Traders over Other Forex Signal Service Providers
This is a new kind of online Forex trading signals service: based on the strategies of real Forex traders, this is the first advantage. Each provider enrolled on the MQL5 Forex signal sections has a proven track record of profitable trades. All accounts of these Forex signal providers are continuously monitored & tracked.
Most of the Forex trading signal providers are experienced traders, therefore for those wanting and looking for this copy signal service, this is the best place: a single place where copy trading subscribers can meet other signal providers who have profitable strategies & copy them.
So, What are Advantages of These Forex Trading Signals Service to Traders
1. Signals Providers Are Experts Who Use Real Accounts Opened With Their Own Money
Every FX signal provider on the MQL5 forum is an expert using their own real account opened with their hard earned money to provide the signals. Take a look at the screenshot below: the signal provider name is '101010', the copy signal service is hosted on the MetaQuotes Server, The equity trading balance is $18,908.35 real money.
Live Forex Signals
Every live forex signals provider is first registered in the community, upon signing up they specify their real account, and this account is the basis used to create the Forex signals. Once a Forex signal provider opens a trade on this account, then this trade is automatically generated & copied to subscribers.
This is the first advantage, all trade are generated on real accounts by experts: this way as a buyer of this trade signals service you know you are getting the real deal.
2. Implemented by MetaQuotes Software Corporation. Owner of MetaTrader 4 & MT5 Forex Trading Softwares
There are hundreds of websites out there selling this forex trading signals service, but for those who want to subscribe there's is really no sure technique of determining which one is legitimate and as a signal buyer there is no way for you to know who is behind signal service.
But in MQL5, all providers are first registered on the forum which is operated by Metaquotes Trading Software Corporation. If you don't know Metaquotes Trading Software Corporation. It's the owner of the MT4 & MetaTrader 5 platforms that you are trading currencies with, the platform that you downloaded from your Forex broker, your broker got it from Metaquotes Trading Software Platform Corp.
All forex trading signals providers Must Register & must fill a sign up form & send proof of ID & Proof of their Residence, After signup they then get a SMS confirmation of their registration. This way as the subscriber you get to know the person that you are dealing with.
In addition, when you subscribe you don't send money to the forex signals provider. You will open an MQL5 Community Account, and you will then use what is known as credits to subscribe. Credits is the currency used to transact within this community. To get credit you deposit money within this community. This way you will not be dealing direct with the other person, you will be dealing with Metaquotes Trading Software Corporation. And then the company will handle all trades between you, buyer, & the seller: all you have to do as a buyer is to obtain credit & you are set to get all the forex signals copied to your account without having to do anything else.
3. All Forex Trading Signal Services are Tested & Have a Track Record of Profit Making
The example screen-shot below shows a summary of the top ranked accurate Forex signals.
Real Time Updated Live Forex Signals
For each one of the Forex signals provider above there is duration in weeks that the provider has been trading. For this duration the profit per month as a percentage is also recorded. Top ranked forex trade signals above have the following track records:
- Duration - 7 weeks to 117 weeks
- Profit Per Month - 199% to 1,557%
In addition all the forex market signals providers must pass 1 month testing period where they must prove that their strategy is profitable, before getting registered on this list.
This way, the whole process is transparent & as a subscriber you always know what signal you're buying & the track record of profit making is.
This is the advantage of this service over others out there: you get statistics that are tracked real-time & updated weekly and their authenticity can be verified by viewing the detailed statistics & transaction history of a forex trade signal provider where as others you just get a screen-shot of previous transactions & their authenticity may not be verifiable.
4. Affordable Price
One advantage of this service is that it is set at an affordable price, because there are many subscribers therefore the it is charged at an affordable fee. Any trader who is trading with MetaTrader platform can subscribe directly from their platform: this is what makes the MQL5 forum to have a large subscriber base.
This is the advantage, it is affordable as compared to other daily Forex signals that charge expensive fees ranging from $100 dollars to up to $200 dollars.
Shown Below is example of the tops ranked forex signal providers for MT4 & MetaTrader 5 platforms, the price is set at $40 dollars and $35 dollars per month.
Price For The Top Ranked Forex Signals
Another advantage is that there are some Forex signals that are free. Those traders looking for free forex signals or free live forex signals can go to Online Forex signal service page & access the free Forex signals as well as paid for signals.
5. Easy Setup Directly from the MetaTrader Platforms
Once you subscribe to a forex signal, there is no need to setup an alert system, for example there is no need to set up SMS alert or an Email alert, neither is it required to watch the market constantly 24/7.
This service can be accessed directly from the MetaTrader platform. All one has to do is to set up and activate this direct from trading platform.
The screen-shot below shows where a trader can access the Forex trade signals directly from trading platform. This is what makes this service the best Forex signal service for traders.
MetaTrader Platform Tool box - Forex Signal Setup Tab
3 steps to subscribe:
- Go to MQL5.com: Register an Account
- Specify Your Currency Broker: a list of available brokers is provided when logged on your forum account.
- Account Number on Brokers' server (Password is not required) .
Advantage is that when a trader completes this simple process of setup, they will automatically receive these transactions from the provider that they choose copied to their accounts. The transaction will now execute in real-time on your MetaTrader 4 software as soon as they are generated.
For More Details, read this two articles:
6. TET - Trusted Execution Token Model in Forex Trading
Trusted Execution Token or TET model is the MQL5 automated copy signal system. This is how the TET model works:
Once you have signed up, all you've to do is to select a Forex trading provider. Once you choose this, your platform will then connect to this signal through the TET system, and all their opened trades will be automatically executed in real time on your account, it is as simple as that.
There is no need to manually execute generated trade transactions or set up alerts such as an SMS alert, or look for any other custom forex signals software trades generated are live and executed automatically by TET system
The Advantages of TET Model Are:
Minimum Delays in Execution - with Trusted Execution Token: TET model trades are automatically executed and there isn't any delay between the time the copy trading signal is generated & when it's copied to the account of the subscribing Forex traders.
No need to keep your trading platform online 24-7 - ( TET ) System automatically copies all trade transactions on your account even if your Forex platform is not launched.
