Advantages of MQL5 Signals to Traders over Other Signals Providers
This is a new kind of online signals service: based on strategies of real traders, this is the first advantage. Each provider signed up on the MQL5 signal sections has a proven track record of profitable trades. All accounts of these signal service providers are continuously monitored & tracked.
Most of the signal service providers are experienced traders, hence for those wanting and looking for this copy signal service, this is the best place: a single place where copy subscribers can meet other signal service providers who have profitable strategies & copy them.
So, What are Benefits of These Signals Service to Traders
1. Signal Providers Are Experienced Traders Who Use Real Trading Accounts That They Opened with Their Own Money
Every trading signal service provider on the MQL5 community is an expert using their own live account opened with their hard earned money to provide the signals. Take a look at the screenshot below: the signal service provider name is "101010", the copy signal service is hosted on the MetaQuotes Server, The equity balance is $18,908.35 real money.
Live Signals
Every live signals service provider is first registered in the community, upon registering they specify their real account, & this account is the basis used to create the signals. Once a signal service provider opens a trade on this account, then this trade is automatically generated & 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 Softwares
There are hundreds of websites out there selling this signals service, but for those who want to subscribe there is really no sure technique of determining which one is legitimate and as a signal buyer there 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 Corp. It's the owner of the MetaTrader 4 & MT5 platforms that you are trading currencies with, platform that you downloaded from your broker, your broker got it from MetaQuotes Software Corporation.
All signals service providers Must Register and must fill in a sign up form & send proof of ID and Proof of their ++2++ResidenceResidency, After signup they then get a SMS confirmation of their registration. This way as the signal subscriber you get to know the person that you are dealing with.
In addition, when you subscribe you do not send money to the signals service provider. You will open an MQ5 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'll not be dealing direct with the other person, you'll be dealing with Meta Quotes Software Corp. And then company will handle all the trades between you, the buyer, & the seller: all you have to do as a buyer is to get credit and you are set to get all the signals copied to your trading account without having to do anything else.
3. All Trading Signal Services are Tested & Have a Track Record of Profit Making
The examples screenshot below shows a summary of the top rated signals.
Real Time Updated Live Signals
For each one of the signals service provider above there duration in weeks that the signal provider has been trading. For this duration the profit a month as a percentage is also recorded. The top ranked signals above have the following trading track records:
- Duration - 7 weeks to 117 weeks
- Profit Per Month - 199 % to 1,557%
In addition all the market signals providers must pass 1 month testing period where they must prove that their strategy is profitable, before getting signed up on this listing.
This way, whole process is transparent & as a sub-scriber you always know what signal you are buying and track record of profit making is.
This is the advantage of this signal service over others signals out there: you get statistics that are tracked in real-time and updated weekly & their authenticity is verifiable by viewing the detailed statistics and trade history of a signal service provider where as the other signal services you just get a screen-shot of the previous trade transactions & their authenticity might not be verifiable.
4. Affordable Price
One advantage of this signal 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 transacting 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 signals that charge expensive fees ranging from $100 to up to $200 dollars.
Shown Below is an example of the tops ranked signal service providers for MT4 & MT5, the price is set at $40 and $35 a month.
Price for The Top Ranked Signals
Another advantage is that there are some signals that are free. Traders looking for free signals or free live signals can go to Online signal service page & access the free signals as well as paid for signals.
5. Easy Setup Direct from MetaTrader Softwares
Once you as a trader subscribe to a 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 copy trade signal service can be accessed by you directly from Meta Trader platform. All a trader has to do is to setup and activate this directly from software.
The screenshot below portrays where a trader can access the signals directly from platform. This is what that makes this service the best signal service for traders.
MetaTrader Platform Tool box - Signal Setup Tab
3 steps to sub-scribe:
- Go to MQ5.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'll automatically receive these transactions from the signal provider that they select copied to their trading 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. T.E.T. - Trusted Execution Token Model in FX Trading
Trusted Execution Token or TET model is MQ5 automated signal system. This is how the TET model works:
Once you've registered, all you've to do is to select a provider. Once you choose this, your trading platform will then connect to this signal through the TET system, & all their trades will be executed automatically in realtime on your trading 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 signals software the trades 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 traders.
No need to keep your trading platform online 24-7 - (TET) System automatically copies all trades on your trading account even if your trading platform is not launched.
