MQL5 Forex Signals with Automatic Execution from MetaQuotes Software Corp.
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With so many Forex signals providers out there on the internet, currency traders and investors may have a hard time doing their own research to find a Forex signal service that is provided by traders. One of the most frequently asked question is: Where can one find the good Forex signals that are not expensive?
This article will answer this question;
MetaQuotes Software Corp . the company that owns MetaTrader 4 Software has a Forex signal service on their website (and on your MT4 , Click " CTRL+T " keyboard keys, look for a red number on your MetaTrader Software, below your trading account balance , there it is) where you can copy transactions provided by Experts. The good thing about this part is that using MT4 and MT5 the currency trading signals are executed automatically once they are generated and they are not expensive, costing only $20 to $30 dollars per month.
Look at the Top ranked MetaTrader 4 currency traders below, all real accounts, the growth curves are illustrated - so you may have the question why would those who are profitable sell their signal? to answer you the top ranked Forex signal provider as shown below has 4,539 subscribers charging $20 dollars per month that is $90,780 dollars extra profit per month. So extra profit for the Forex signal providers, while you copy their transactions and make profits on your account. The forex trade transactions are automatically copied to your account using MQL5 TET, Trusted Execution Token, you do not even need to be logged in to your MetaTrader 4, once you subscribe, leave the execution to TET system - MetaTrader Forex Signals, you will just be login in to your Forex trading platform to monitor the progress. The procedure for setting up your trading with Forex signal providers is explained below.
Where to Find These FX Signals on Your MetaTrader 4 Platform
How it works:
Beginners sign up and start following experts by copying their live Forex signals, transactions are copied and executed automatically on your trading account through MQL5 TET, Trusted Execution Token; once the expert opens or closes a trade and there is no need for manual execution on your part.
Experts sign up and setup their live Forex trading signals service through MT4 and MT5 platforms, others then copy and follow your strategy and you make extra profit from them as well as for yourself.
Forex Signals Provider That Traders can Subscribe from MQL5 Forex Signal Service
Choosing Forex Trading Signals - List of Ranked Trade Signals
Choosing The Best Forex Signal From The Many
To chose one of the Forex signals, first of all go to the www.mql5.com/en/signals page that has a list of all the Forex trading signals providers.
Find a ranking of the top Forex trading signal providers, these are monitored accounts that provide detailed statistics as well as the transaction history of the profitability of a particular service.
There are two different types of Forex trade signals services to choose from, these are:
- Top MetaTrader 4 Signals
- Top MetaTrader 5 Signals
The one you choose will depend on which of the above platform you are using, choose a provider according to the one you are using.
Once you have decided on which Forex trade signal to choose from, there are three other parameters that you can use to help decide which is the best for you:
Percentage of Profit/Month
The percentage profit per month shows the most profitable Forex trading signal among the top ranked ones. The higher the profit percentage the more profitable.
Length in weeks
This is the total number of weeks traded. The longer the duration, the better the strategy.
Number of Subscribers
You may want to base your Forex trade signals selection based on the decision of others or try out a new one that has fewer subscribers but has a high profit percent.
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Graph of Ranked Signals - Based on; Percentage of Profit/Month, Length in Weeks and Number Following Each Strategy
How to Subscribe to FX Signals
To subscribe to any signal from any Forex signal provider, all a trader requires is to have the required amount of credits in order to start copying a particular Forex signal provider. Credit is the currency used. To get credits all one has to do is to register and make a payment and the payment will then be converted into credits. These credits are then used to pay.
1 Credit is equal to $1 dollar, For Example on the screenshot below 20 and 35 credits are required to subscribe to the live Forex trading signals shown below. Once you have this required amount of credits you can then join the others.
Credits Required To Subscribe to a Forex Trading Signal
Connecting Signal Providers to Your Platform
Once you have registered, all you have to do is to choose a Forex signal provider, connect to their service and all trades generated by the experts are executed automatically in real-time on your trading account, as simple as that. There is no need to manually execute transactions or setup alerts such as an sms alert, the deals generated are live and executed automatically by the MQL5 automated Forex signal system.
All trading signals providers are screened from month to month and only the profitable ones are allowed by the system to setup a subscription. Those that are not profitable are filtered by the system and these do not pass the screening and cannot setup subscriptions within the system.
3 things required to start:
- Register an MQL5 Account
- Specify Your Broker: the available brokers list is provided when logged on.
- Account Number on Brokers' server (Password is not required) .
The table below shows an example with details of number of transactions, number of pips profit, number of those copying, account balance and profit graph.
List of Available Choices of Forex Signals Providers From “Toolbox”
After fulfilling the above 3 requirements, the they will then login to MetaTrader 4 where they will get a list of all the providers as shown above. One can then select any from this list.
Complete this process by filling in the details on the following form that will appear.
Procedure for Setting Up Live Forex Trading Signals
To get to the window below, Go to “ Tools ”, Next to “ File, View ” at the top left corner of the MetaTrader 4 Software. Click Tools >> Click Options, the window below will pop up, select " Signals " tab and tick the settings shown below.
Real-Time Settings - How to Setup These Trading Forex Market Signals
After filling the above details, the setup will be complete and the signals will start to execute upon clicking the " OK " button.
For more details on how to subscribe to signals and where to find more information on a signal provider whether you are interested in daily Forex signals or Forex scalping trading signals, read this two articles:
Why Choose MQL5 Forex Signals Service
High Security Parameters - Providers work in test mode for a month and only the ones that pass this test are allowed to setup subscriptions.One can also choose from those that have many weeks profitable track record.
No need to keep your Forex platform online 24-7 - Trusted Execution Token (TET) trading signals software system automatically copies all trades even if your platform is not launched.
Easy Forex Signal Subscription - Select from the many providers at a fixed monthly fee. All transactions are executed automatically.
Experts can gain access to a large market of potential subscribers that use the MT4 and MT5, because they can access this service directly from their MetaTrader 4 Software.
Minimum Delay in Execution of Trading Signal - with Trusted Execution Token (TET) execution model deals are automatically executed and there is no delay in execution.
Free Forex trading signals as well as paid signals - For those looking for free Forex signals or free live Forex trading signals, some Forex signals are provided free of charge and are available for traders to subscribe. To know which signal is a free Forex signal - these are the ones marked "FREE".
How to Become a Forex Service Provider
If you are an expert who is profitable, register in the MQL5.com website and become a seller of signals and access a large market of potential subscribers once you pass the 1 month trial test for profitability.
For instructions on how to become a seller, Read the instructions on Articles/591