Signals and social trading

In the few recent years we could see a rise of a worldwide phenomenon – social trading, also called mirror or signal trading. The precursors of the current solutions on the forex market were various social networks of retail investors trading on American stocks exchange. There was a transition from sharing the ideas on web forums and following best traders’ blogs to integrated social trading platforms. Those platforms connect the supplier of signals and their recipients. A crucial issue for the recipients is the quality of signals provided, since their outcome is dependent on them. Therefore the recipient must check, whether the guru uses a forex demo account or is his or her forex trading online conducted from a real account. For example, a scammer can have one account with extraordinary profits, but 99 demo accounts, where he or she achieves only losses. Most of the companies dealing with signal copying work on Metatrader MT4 platform. Due to huge demand, the creators of the platform introduced the Signal Trading service granting access to data from best worldwide known traders and solved the problem of the signals’ quality. The platforms has full data on guru’s accounts and it can verify them at any time and place. This service is absolutely convenient and safe. As we already have an account on the platforms, we do not need to give any personal data to intermediary companies. What is more, the Metatrader does not surcharge any of the sides, neither the recipient, nor the guru. Their earnings consist of small part of the guru’s profit. The Signal Trading service provides precise historical data, actual positions and a multitude of risk statistics.