Advantages of MQL5 Signals to Traders over Other Forex Signals Providers
This is a new kind of online Forex trading signals service: based on 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 trading signal providers are continuously monitored and tracked.
Most of the Forex trading signal providers are experienced traders, therefore for those wanting and looking for this copy trading 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 Signals Service to Traders
1. FX Signal Providers Are Experts Who Use Real Forex Trading Accounts That They Opened with Their Own Money
Every Forex trading signal provider on the MQL5 community 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 trading equity balance is $18,908.35 real money.
Live Signals
Every live Forex trading signals provider is first registered in the community, upon registering 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 and copied to sub-scribers.
This is the first advantage, all trade are generated on real accounts by experts: this way as a buyer of this signals service you know you are getting the real deal.
2. Owned by MetaQuotes Software Corporation. Owner of MetaTrader 4 and MetaTrader 5 FX Trading Softwares
There are hundreds of sites 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 Software Corp. If you do not know Metaquotes Software Corporation. It's the owner of the MetaTrader 4 & MT5 platforms that you are trading currencies with, platform that you downloaded from your Forex broker, your broker got it from Metaquotes Software Corporation.
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're 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 Software Corp. And then company will handle all the trades between you, the buyer, and the seller: all you have to do as a buyer is to get credit and 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 examples screen-shot below shows a summary of the top ranked Forex signals.
Real Time Updated Live 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. The top ranked forex 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 trading signals providers must pass 1 month testing period where they must prove that their strategy is profitable, before getting signed up on this list.
This way, whole process is transparent & as a sub-scriber you always know what trading signal you are buying and track record of profit making is.
This is advantage of this service over others out there: you get statistics that are tracked real-time and updated weekly and their authenticity can be verified by viewing the detailed statistics and 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 software can subscribe directly from their platform: this is what makes the MQL5 forum to have a large subscriber base.
This is 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 an example of the tops ranked Forex trading signal providers for MT4 and MT5 platforms, the price is set at $40 dollars and $35 dollars per month.
Price for The Top Ranked Signals
Another advantage is that there are some Forex signals that are free. Those traders looking for free Forex trading signals or free live trading signals can go to Online Forex signal service page & access the free Forex trading signals as well as paid for signals.
5. Easy Setup Direct from MetaTrader FX Trading Softwares
Once you subscribe to a forex signal, there is no need to setup an alert system, for examples there is no need to setup 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 a trader has to do is to setup & activate this directly from trading platform.
The screen-shot below shows where a trader can access the Forex trade signals directly from 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 select copied to their accounts. The trade will now execute in real time on your MT4 platform as soon as they are generated.
For More Details, read this two articles:
6. TET - Trusted Execution Token Model in FX Trading
Trusted Execution Token or TET model is MQL5 automated Forex trading 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 select this, your trading software will then connect to this signal through the TET system, and all their trade transactions will be executed automatically in real time on your forex account, it's simple like that.
There's no need to manually execute generated transactions or setup alerts such as an SMS alert, or look for any other custom Forex trading signals software the trade transactions generated are live & 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 is no any delay between the time the copy signal is generated and when it is copied to the account of the subscribing Forex traders.
No need to keep your software online 24-7 - (TET) System automatically copies all trade transactions on your account even if your Forex platform is not launched.
