Copy trades
Social trading and copying deals of successful traders, as well as selling your own trading signals, have become an integral part of the modern market. Realizing the need of traders for such applications, MetaQuotes has developed a trading signal service for the MetaTrader 4/5 platform, which allows not only copying trades from successful providers but also becoming a provider of trading signals and receiving regular rewards from subscribers.
The service of trading signals from MetaQuotes allows any trader to receive a reward for each trade copied from him from an unlimited number of subscribers. In turn, clients wishing to copy transactions of successful traders can subscribe to trading signals directly in the MetaTrader 4/5 terminal, after which the provider's transactions will be automatically copied to the subscriber's account.
The service developers paid special attention to the investment security of subscribers by introducing additional filters for signal providers. For real accounts, it is not allowed to copy transactions from trading accounts with leverage greater than 1: 500. Also, in order to protect investors from unscrupulous signal providers, the administration of the service checks the identity documents of signal sellers. After registration, the name and surname of the provider become publicly available in his profile, thereby increasing the security and transparency of the service as a whole.
How to subscribe to trading signals
- Open a trading account MT4.DirectFX, MT4.Classic +, cent-MT4.DirectFX or cent-MT4.Classic +;
- Register an account on the MQL5.community website;
- In the MetaTrader 4/5 terminal, go to Service – Settings – Community tab, and enter your username and password for your MQL5.community account;
- In the “Terminal” block, select a signal provider and go to its page with a double click;
- Click the “Subscribe” button located at the top of the action bar, after which a confirmation window for subscription details will appear;
- Check the box “Accept the terms of use of the service” in the confirmation window for subscription details and enter the password from MQL5.community, after which the terminal settings window with the “Signals” tab will appear;
- Go to Service – Settings – Signals tab and specify the parameters of trade copying you are interested in;
- From now on, all transactions of the provider you have chosen will be copied to your account. Please note that in order to copy trades, the MetaTrader 4/5 terminal must be running and connected to the broker's trading server.
How to become a seller of trading signals
- Register an account on the MQL5.community website, then go to the created profile;
- Open the “Seller” tab and register as a signal provider;
- After your application is approved by the moderator, you will receive an SMS with the text “You are approved as a seller at MQL5.com” and a personal message to MQL5.com with the text “Seller profile: your application for obtaining the status of a Seller is approved”;
- After your application is approved, go to the “Signals” section and click on the “Create your own signal” link;
- Fill out the form with information about your “trading signal”. The cost is indicated for a one-month subscription. Users of your signals can subscribe for both a month and a week. In the second case, the subscription cost is set equal to 1/4 of the monthly;
- Upon successful creation of a signal, the entire trading history of your account becomes available to users of this service.
What is Social Trading (copying traders' trades in Forex)?
SocilalTrading's system for copying deals is so transparent and understandable that I have doubts about its effectiveness. Participants using the social trading platform in their trading satisfy their own needs and cooperate mutually beneficial, and therefore the ease of this path is also not suspicious. So how does the service work?
Among the clients of the brokerage company, there are both professionals of currency trading and novice traders. The former has been trading on the currency market for a long time and confidently earn their living on the difference in exchange rates, the latter is just trying to take their first steps, learn and “get their hands-on”. Obviously, the former would not refuse to increase their profits, while the latter would gladly borrow trading solutions from them. This is what the system of copying deals is based on. Risking nothing and losing nothing, experienced traders conduct their usual trading and automatically (using SocialTrading) provide their trades for copying to other traders for a certain percentage.
Newbies who have joined the social network of traders choose the professional they like most and subscribe to copy their transactions for a set percentage.
Thus, the sheep are safe and the wolves are fed, as they say. There is mutual benefit.
A social trading platform that enables Forex beginners or investors to copy the trades of professional traders to their own account. The platform has united traders from all over the world, which will allow them to learn from trading experience and communicate with people with different “trading” mentality.
The investor copies the trader's transactions and shares a percentage of the profit received with him in the form of a commission. The size of the commission set by the trader for copying from his account is displayed in the trader's rating. This is how it works, simple and straightforward.
A unique feature of social trading is that, unlike such systems as PAMM, funds are kept in the accounts of the owners, and the transactions of professionals are also duplicated directly to your accounts.
This means that the system of copying transactions helps beginners to trade successfully from the first day.
A huge advantage is the ability to communicate with traders from all over the world in the built-in chats. You can also write to the trader in private messages and clarify all the questions of interest before you start copying.
The platform has copy settings that will help limit risks, and a trader monitoring system (traders rating), where the entire trading history, profitability charts, and risk assessment are visible. I will tell you more about this below.
Platform motto:
By uniting traders from all over the world into a single community, “Social Trading” enables clients to use the experience of each of the participants to achieve their goals.
Why copy transactions or how to use the service competently?
We can say that not everyone who starts their career in the Forex market will be satisfied with the “blind” synchronization of their trading with the trading of an experienced professional. If you really do not intend to master the profession, do not want to become a trader, but only intend to make a profit, then you just need to choose the right successful traders to copy their trades and remain satisfied with the result (you only withdraw the profit and pay a percentage from it). But if you yourself want to develop, you will hardly be pleased with simple copying, for you, it may rather serve as an opportunity to learn from a guru, compare your trading ideas with his ideas, make your own decisions based on his assumptions. All this is also quite possible with a social network of traders.
You can copy transactions only partially, you can read the news feed of an experienced trader, or you can only focus on the pros, and trade on your own – choose and use. In any case, you only win, and your profit grows. You can read more about the service here or contact the company's support.
