Forex trading signals have become an extremely popular way for traders at all skill levels to receive trade ideas from other, more experienced traders. Many traders have also come to appreciate mirror trading abilities, which allow them to automatically copy trades from another trader into their trading platform. Until recently, however, these forms of trading were difficult, if not impossible to execute using the MetaTrader 4 and 5 platforms, as the MetaQuotes Software Corp., the developer of the MetaTrader platforms, did not allow third party software to be integrated to their quality trading platforms. This limitation has been resolved, however, with the launch of Trading Signals for MetaTrader 4 and MetaTrader 5, a service developed entirely by the MetaQuotes Software Corp.
First available for the MetaTrader 5 platform in a package called MQL5 Signals, the company’s Forex signal service is now also available for MetaTrader 4 users. MQL5 Signals was developed for all types of trading purposes and is a great tool for providing assistance to traders who do not have enough self-confidence or familiarity with selling or purchasing currencies on their own, or for those who simply don’t have time to trade as much as they’d like but are still eager to profit from market opportunities.
The use of MetaTrader 5 Trading Signals is simple and quickly grasped by all users, including those with very little trading experience. No need to worry about selecting unclear settings or about understanding confusing agreements and forms. With MetaTrader 5 Trading Signals there is no manual control; everything is fully automated to the maximum extent possible so that traders can watch and learn from other people’s trading while having the trades copied directly into their account.
MetaTrader 4 and MetaTrader 5
MQL5 Signals consists of a list of all available MetaTrader 4 and MetaTrader 5 signal providers. The list is automatically updated in the client’s terminal. This cloud network consists of multiple Signal Servers all over the world which are located near broker servers in order to implement the MetaTrader 4 and 5 platforms.
In addition to the advantages for traders, the MQL5 Signals service is also beneficial to those interested in selling their signals. Pro traders can register to post their signals into the copier, and then traders subscribe to the signals provider of their choice and the signals provider gets a fixed monthly subscription fee from all his clients directly from the system. To make the sale and purchase of trading signals even simpler, there is a choice of different payment systems.
Why Use MQL5 Signals?
1. MQL5 Signals is a simple and commission-free service. Setting up a subscription involves just a few clicks. For the trader, a deal is copied automatically without the trader's intervention and there is no commission involved in any deals. For signals providers, it takes less than a minute to add a signal to the base and set a subscription fee. There are also no fees from increasing spreads that would result from frequent deals.
2. MQL5 Signals provide high security for all its participants. Signal providers are carefully selected and must work in a test mode for a month. If they pass the test, they may offer their signals on MQL5.com.
3. Signal subscriptions can be purchased easily. A trader who is interested in a particular signal that is available for a paid subscription is able to subscribe to it without any hassle. There are many payment systems supported by MQL5.com which simplify the process, including WebMoney, PayPal, or a bank card.
4. Subscription Benefits- No agreements between subscribers and providers are necessary. Signals providers put their products up for sale and each subscriber chooses the most suitable one. All processes are performed strictly inside the system avoiding any kind of paperwork.
5. MQL5 Signals provides access to the largest financial markets. All traders using the trading platform in their account are able to choose and quickly subscribe to any signal available in their terminals.
6. There is a minimum delay in execution of deals and it is not necessary to keep one’s terminal constantly online. All deals are copied automatically even if the terminal is not launched. If the subscriber and provider are located on the same server and Trusted Execution Token (TET) mode is on, execution of deals is directly fixed in the trade server and there are no delays.
7. MQL5 Signals offers full transparency of trading history. In addition, the company knows nothing about its subscribers, except for their amount.
8. MQL5 Signals charges very reasonable prices, with only a fixed subscription fee and the ability to return the current month subscription fee in case of a disagreement with a Signals Provider.
9. There is no conflict of interest between MQL5 Signals and other participants. The company’s interest is limited by 20% of commission for subscription.
Followers of MetaTrader signals need not be worried about the validity of the signals provided. Though it goes without saying that not every signal will be a winner, there are rigorous processes in place to ensure that traders don’t take advantage of their authority as signal providers. For example, a signal provider can create only one signal for one trading account. All paid signals must pass a one-month test period, during which they are checked for compliance with a number of requirements. Upon passing successfully, the provider will gain access to the entire market of MetaTrader 4 and MetaTrader 5 users and will receive direct access to his/her potential subscribers.