Providers of paid signals for the Metatrader platform can now sell their signal without any test period.
Signal is a social forex trading feature making our investment decision-making easier. Instead of trying to figure how to act on a highly complex market we just copy the trading behavior of a hopefully successful trader. The process is fully automated meaning that if our signal provider makes profit we will profit too. If he loses, however...
The idea of social trading is well covered in the forex industry with companies like ZuluTrade, Myfxbook Autotrade, and Tradeo all offering platforms for copying successful traders. Metaquotes, the maker of the most popular platform for forex trading, launched their own signal market in 2012.
The recent change, regarded as an action aiming at expanding the Metatrader signal market, makes it easier and faster to become a signal provider. Until now a new signal was subject to one month testing period requiring at least 5 trades with dropdown less than 70%. Lifting this requirement, however, means that customers are not longer protected from the really bad signals. Choosing a signals requires more caution now.
Copying a trader who provides a signal via the Metatrader signal market do not add much expense since most of them are priced at $20. There are free signals as well. Using a signal, by the way, does not imply any form of commission from the subscriber's traded volume.