To enable automated trading directly from the MetaTrader platform, some forex broker provides access to the MQL signals. What are the advantages you can get from such brokers?
Automated trading signal is a useful trading tool. It refers to a set of information of trading setups that are basically derived from certain techniques of market analysis. The information is commonly delivered in an automated platform so users can obtain it in real-time so they don't miss trading opportunities.
Many traders like to use this service because the market analysis can be complicated sometimes, especially when the volatility is high. With trading signals, traders can trade and predict price movements more easily. Besides, the signals are usually analyzed by trusted parties; they could be a professional or a signal provider company with good track records in forex trading.
Nowadays, traders are even more interested in using automated trading signal services. The internet has accelerated the whole process of forex trading, so traders need to be continuously updated with the market condition. In this case, trading signal services help traders to instantly oversee the trends without wasting a lot of time by analyzing the charts.
For traders with busy schedules or those with multiple active trading accounts, automated signal service can be really practical and efficient. Traders can choose whether to use signals for automated trading, copy trading, or social trading. Some of the commonly known signal providers are Myfxbook, eToro, and ZuluTrade. These platforms can bring together signal providers and followers. Some of these providers provide paid service, and some are free to use.
See Also: Brokers Allowing Automated Trading
Nevertheless, do you know that you can get automated trading signals without having to switch between platforms? Yes, it is possible to enjoy this service from none other than the most widely used platform in forex trading, MetaTrader.
Specifically, the automated trading signal service is called the MetaTrader Trading Signals or MQL Signals. Some advantages of using this service include:
- You don't have to install additional apps or software to your device because it is included in the MetaTrader trading platform.
- The service can be integrated to all MetaTrader users worldwide regardless of the broker.
- There is no extra commission apart from the subscription fee for the signal provider.
- Delay is minimum because the transactions are exclusive to MetaTrader users.
- Risk management will follow the provider's rules. If there's a difference in the deposit amount, the system can adjust it automatically.
- The signal provider won't intervene because all transactions will be copied and executed automatically.
- Supports Expert Advisors (EA).
Not only practical, but MQL signals can also help traders further improve their trading skills and increase their profitability. Here we have listed forex brokers that support MQL signals.
Established in 2009, XM is a member of an online brokerage company called Trading Point of Financial Instruments Ltd. In providing clients on a global scale, the company has branched into XM Australia and XM Global, and XM Cyprus. Each member has different headquarters and licenses, with XM Australia registered under the Australian Securities and Investment Commission (reference number: 443670), XM Global under the IFSC (60/354/TS/19), and XM Cyprus under the Cyprus Securities and Exchange Commission (reference number: 120/10).
XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and Webinar feature that is accommodated in 19 different languages with 35 native instructors for each language.
In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Commodities, Equity Indices in CFDs, Precious Metals, Energies, to Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.
Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip. Instead of providing maximum leverage on the scale of 1:500 or 1:1000 (round numbers), XM chooses to limit their leverage on a 1:888 scale, a unique number that is now widely recognized as XM's trademark.
To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. The deposit starts from $5 in Micro and Standard Account, while Ultra-Low Account requires a minimum deposit of $50. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.
For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.
XM also provides an Islamic Account for Muslim Traders obligated to Sharia Law that prohibits the use of interest generated by overnight swaps for each currency pairs. To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).
All in all, there is no doubt that XM has gone global with its deep commitment to providing trading services in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.
For their global approach, XM has ensured that traders from various countries could access their service easily. This results in the provision of different domains specified for traders in certain jurisdictions. For example, traders from Indonesia could access XM via this link.
XM is the first broker we recommend because it is one of the top global brokers that provide automated trading signal service for MetaTrader users. The broker offers the service details in the form of an informative guide, so you don't have to worry about not knowing where to begin when using the signals for the first time. If you want to try this service, all you have to do is open a trading account in XM and install the trading platform. The MQL signals can be used both for MetaTrader 4 and MetaTrader 5, so you can choose whichever you think suits you best.
2. Grand Capital
At first glance, the signals provided by Grand Capital might look unique because it is presented as a Social Trading Program from MetaQuotes. But actually, the concept and application are quite similar to the other MQL signal services. Even so, the broker itself claims that this program can give extra advantages such as:
- It is easier than PAMM.
- It is more effective than trading courses.
- It is more reliable than speculative news.
- It is more extensive because it connects all MetaTrader users.
Like XM, Grand Capital provides informative guides regarding the registration to the service, both for those who are interested in being a signal provider or a follower. The broker also shows the top 10 automated trading signals on their official website, so it can help traders choose the best providers. To activate the automated trading signals in MetaTrader, you are only required to register and open an account, then fund your account according to the required minimum deposit.
Alpari International is one of the largest forex brands. They always try to work hard to make sure traders make the best trading and investment decisions. Established on 24th December 1998, Alpari has started from a small group of men who are looking to start a business in finance in one of the most economically precarious years in Russia's history.
During 20 years of experience in the forex industry, there are about 2 million traders choosing Alpari as the broker to trade with. Alpari has a head office on the 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius. The company is regulated in St.Vincent and the Grenadines (the licensed number is 20389 IBC 2012), IFSC Belize (the licensed number is IFSC/60/301/TS/18).
This broker uses MetaTrader 4 and MetaTrader 5, both of which offer great flexibility, charting tools, and an easy-to-use interface. For higher volumes, the company also provides the Alpari International Direct platform which offers enhanced features for advanced investors.
The company offers an array of live trading accounts to choose from. Each one offers different opportunities and allows traders to trade in different ways. All of their accounts use USD, EUR, GBP, and NGN as the options for base currency. But, NGN accounts are only available to clients in Nigeria.
Each kind of account has a different spread. At Standard Account provides spreads from 1.2, the spread of Micro Accounts is from 1.7, and ECN Account and Pro Account have spread from 0.4. A trader can open an account in Alpari and opt to trade currencies (FX majors, FX minors, FX exotics, and FX RUB), spot metals, spot commodities, stock trading, spot indices, and crypto-currencies.
A trader can find out what the minimum spreads, pip value, swaps, and trading session times are for each instrument before start trading. If the trader is still not sure where to begin, they can found the answer in a guide provided by Alpari on their official website.
Their guide to trading is designed to break down the terminologies and answer the most frequently asked questions by traders. A trader will be trading more quickly and with more confidence in no time.
Besides, Alpari offers PAMM (Percent Allocation Management Module) which allows a trader to choose their desirable Account Manager. This allows traders to have a chance in gaining more profit without advanced knowledge of forex trading. These managers usually have a wealth of experience in the markets, with tried-and-tested strategic trading decisions.
This program also gives opportunities for well-seasoned traders to become Strategy Managers. As Strategy Managers, they can use their trading experience and earn more from profitable trades. They have privileged access to Alpari's advanced programs and all the tools they need to cultivate a massive following of investors. The investors then will help Strategy Managers to earn more through commission fees up to 40%.
Their website also provides various Forex Trading Strategies. Because to increase the chance to profit, it's important to know as much about the markets and the trading strategies behind them as possible. Alpari believes that strategies provide traders with a roadmap for trading, reducing panicked decision-making that can occur in the heat of the moment. In other words, trading in Alpari allows traders to learn about any kind of forex trading strategy.
For educational purposes, the company provides Trading Webinars, one of the variants of technology that allows users to hold seminars, talk shows, and discussions online, without having to communicate face to face.
Alpari creates a very convenient funding and withdrawal experience for each trader. A trader can transfer with any kind of methods, such as e-payment (example: FasaPay, Local Transfer, TC Payment, etc), credit cards (Visa, Mastercard, and Maestro), E-Wallet (Neteller, Skrill, VLOAD, TC Pay Wallet, WebMoney, Perfectmoney, Bitcoin), and bank transfer. If there's been no trading activity on the trader account for at least 6 months, an inactivity fee of 5 EUR/USD/GBP will be applied.
All Back office transfers are processed during standard business hours, 03:00-19:00 GMT+2 (GMT+3 during DST), Monday-Friday. If traders still feel confused, they can contact Alpari's team by any method, such as Live Chat, Telegram, or email.
As a globally-recognized broker, Alpari also provides MetaTrader automated trading signals for its clients. Alpari has the most detailed information about the signal providers' rankings written on their website compared to the abovementioned brokers. Apart from not being limited to the top 10 only, Alpari also ranks them based on equity, profit pips, account growth rate, account length, leverage, and EA usage. Furthermore, the broker provides tips on how to choose the best signals that include based on the signals' rating, best conditions, warning, sorting and filtering, and many others.
Established in 2012, JustForex becomes one of the leading brokers in the international forex industry. This broker is a subsidiary of JF Global Limited, regulated by FSA with license number 23933. Not only guaranteed by their regulation, liquidity in JustForex is provided by 18 biggest world banks. Moreover, clients are claimed to be provided with the best prices offered by those banks for the most beneficial orders.
JustForex always keeps the safety of clients from unpredictable loss, therefore it applies negative balance protection. That means when the clients' balance becomes negative due to sharp price changes, the broker will set it to zero. Clients' funds are also situated on the segregated bank account, indicating that JustForex ensures funds' safety by separating their client's money from their own fund.
Trading in JustForex can use any strategy without restrictions. The sharpness of the price quote increased from 4 decimal places to 5 decimal places. This makes the broker is suitable for virtually any strategy.
JustForex also holds a superior partnership program with a revenue-sharing model and CPA. Everyone can become JustForex partners and get benefits by attracting new clients or partners. The partnership program is multi-level. JustForex partners can also participate in Loyalty and VIP programs that are designed to increase revenue and support long-term cooperation.
Based in St Vincent and the Grenadines, JustForex continually offers deposit bonus with varying amounts. For payment fees, JustForex covers all expenses which may occur when traders deposit funds from more than 10 payment options, including Visa, Mastercard, FasaPay, Neteller, Union Pay, Perfect Money, Qiqi, and many more.
Not only from trading, traders have the opportunity to gain more profit by joining other special promotions. JustForex gives bonuses to social media users, especially Facebook. For traders who share JustForex promotional uploads, they have the opportunity to get a $100 bonus. Traders only need to send a report via email after sharing.
This broker offers several trading account types with a wide choice of trading instruments and leverage up to 1:3000. Their account types include Standard Account (min deposit $100 and spread from 0.1), Pro Account (min deposit $500 and spread from 0.1), and ECN Zero (min deposit $500 and spread from 0). The commission fee is only applied on ECN Zero.
For beginners, JustForex also provides Cent and Mini Accounts. The two accounts presents unique opportunities to trade in a risk-free environment while engaging on live trading conditions. The balance on the Cent account is measured in a cent. Meanwhile, mini Account is created for traders who want to choose any deposit they want, as traders can open this account with any amount of money. Spreads start from 0.3 on both Cent and Mini Accounts. JustForex also has a special swap-free account labeled as Islamic Account.
Some of the best services provided by JustForex make many clients interested in trading at this broker. Based on their data, a new account is being opened in JustForex every 8 seconds.
The company also offers traders looking for diversified investments, such as pair currencies, gold, silver, oil, crypto, energy, and indices. To attract the attention of traders from various countries, JustForex also provides a variety of languages on their official website, including English, Indonesia, Malaysia, Spanish, French, Portuguese, Mandarin, Korea, and many more.
After opening an account in JustForex, traders are provided with the benefit of enjoying forex VPS. It is a type of hosting, through which traders get access to the virtual dedicated server. With VPS, traders get a "remote desktop" where traders can install a trading platform that will provide the opportunity to trade around the clock and without interruptions.
The platforms provided by JustForex vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders as they can access JustForex platforms anywhere and anytime. To get more information, traders can contact JustForex support team in various ways, including phone, email, live chat on their website, and social media.
Overall, JustForex is many traders’ favorite broker for they are able to provide various additional programs so traders can get more advantages.
To make it easier for new traders, JustForex provides an infographic guide in the Member Area regarding the registration to the automated signal trading service. Interestingly, this broker promotes the signals to earn profits in forex trading and could help traders become successful without having to obtain years of experience. That is why JustForex only allows traders to register as signal followers or subscribers, which is quite reasonable because it seems that the service is more designed for beginners.
See Also: Best Forex Broker For Beginners
Well-known as one of the most committed brokers in trading technology advancements, RoboForex reaches out to a wide range of traders, from beginners to the more experienced ones who seek sophisticated trading environments with ECN-like spread and execution. The company is established in 2009 and holds a head office in Belize. Registered under the IFSC Belize, RoboForex manages to attract clients with fantastic leverage as high as 1:2000.
As for the service for European-based traders, RoboForex specifically operates a different brand called RoboMarkets that is still a member of the head company (Robo Holding Company) and has an office in Cyprus. The operation is licensed under Cyprus Securities and Exchange Commission (CySEC).
Following its commitment to be the forefront in terms of a high technology forex broker, RoboForex provides various trading platform choices including MetaTrader 4, MetaTrader 5, cTrader, Social Platform, and its proprietary platform.
Trading instruments range from Currencies to Metals, Indices, Energies, Stocks, ETFs, and Cryptocurrencies. Aside from basic service, trading in RoboForex also presents a collection of distinctive features such as the PAMM system and Social Trading network developed with their own brand of CopyFX, ETFs, and stocks that reaches up to thousands as the available trading assets, tight spreads, and payment method via Bitcoin and Ethereum.
RoboForex also accepts payment through a surprising online gateway besides wire transfer and credit card. The alternative methods are Skrill, Neteller, FasaPay, UnionPay, WebMoney, Perfect Money, Qiwi, and other similar online payments.
After opening an account, traders can start with a minimum deposit as low as $10 in Pro Accounts. To specify, here is a short description of each type of accounts that traders can choose from in RoboForex:
- Minimum Deposit: $10
- Spread: from 1.3 points
- Minimum order volume: 0.01
- Leverage: up to 1:2000
- Minimum Deposit: $10
- Spread: from 0 points
- Minimum order volume: 0.01
- Leverage: up to 1:300
- Minimum Deposit: $5,000
- Spread: from 0 points
- Minimum order volume: 0.01
- Leverage: up to 1:100
- Minimum Deposit: $10
- Spread: from 1.3 points
- Minimum order volume: 0.1
- Leverage: up to 1:2000
- Minimum Deposit: $100
- Spread: from $0.01
- Minimum order volume: 1 stock
- Leverage: up to 1:200 (during the trading session) and up to 1:4 (after the trading session)
The R Trader account signifies RoboForex's attempt to distinguish forex and stock trading condition. It appears that the platform used in that particular account is RoboForex's in-house product that is specifically designed for stock online trading.
The overall description above depicts RoboForex as a distinguished broker despite its status as an offshore-regulated entity. Not only successful in providing various trading technology, but RoboForex also focuses on stock trading for more conservative traders. However, it is also important to note that RoboForex is one of the few brokers that boldly offer an extremely high perimeter of leverage at 1:2000.
Over the last few years, RoboForex is known to be a reliable broker that provides automated trading signal service for both MetaTrader 4 and MetaTrader 5. In this broker, the service is included in the CopyFX, the in-house copy trading from RoboForex itself. So basically, MQL5 trading signals are only complementary to the preferred copy trading feature. According to the broker, the signals can be a beneficial addition to the CopyFX because it is more efficient and user-friendly and does not require an additional platform.
FXTM was initially launched in 2011 with a unique vision to provide unparalleled superior trading conditions. Opening an account in FXTM would also bring about access to advanced education and sophisticated trading tools in the forex industry.
Now, FXTM is registered under the Financial Conduct Authority of the UK with the number 600475. The company is also regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614
FXTM has 1 million registered accounts with more traders joining every day. The company continually tries to improve their performance and have got many awards such as Best Trading Experience 2019 by World Finance Awards, Best Online Forex Trading Company Nigeria 2018 by International Finance Awards, Reputable Investor Education Forex Broker Award 2018 by Hexun.com, Forex Brand Of The Year China 2018 by Fxeye.Com, and many more.
As a responsible broker, they determine leverage (expressed as a ratio of transaction size relative to trader's buying power) according to the trader's level of knowledge and experience in trading, which is evaluated by the Appropriateness Assessment. The company also enables trading with leverage up to 1:1000.
As for spreads, FXTM offers low spreads starting from 0.1 pip, so traders can withdraw profits at the start of trading. The company, which has headquarters in several countries, uses No Dealing Desk (NDD) technology and partners with credible liquidity providers to provide the best bid and ask prices.
For beginners, there is an automatic trading facility called algorithmic trading provided. When trading in FXTM, traders can develop their trading strategy or adopt other traders' strategies. Furthermore, the strategy is applied to automated trading systems, such as Expert Advisors. The purpose of this system is traders do not have to worry about losing opportunities while not observing the market so that profits can still be earned.
Three types of ECN accounts use the MT4 and MT5 trading platforms. There are also mobile and Tablet Apps trading platforms. Aside of providing many account variants, FXTM goes above and beyond to ensure that their client receives excellent support that they deserve, making their trading experience optimal and user-friendly.
FXTM also provides a diverse range of products. In addition to over 50 currency pairs, they provide gold, silver, CFD on commodity futures (oil), CFD on ETFs, and indices.
Education about the basic concepts of the forex industry is also accessible in this broker. Traders can read all the concepts provided in the form of e-books, video tutorials, articles, webinars, and forex seminars. There are 17 languages provided on the FXTM website to make it easier for traders to learn about forex.
Traders are also given various choices for payment methods, including Credit Cards (Visa, Mastercard, Maestro) and E-Wallet (Neteller, Skrill, Western Union). For withdrawing funds, traders are not charged a fee with a length of 2 hours to 2 days. Traders can live chat to ask further questions and contact the admin via email. There is also a question and answer page about forex trading on FXTM.
Like RoboForex, the automated trading signal in FXTM is also a part of its copy trading service. To become a follower, you have to follow the instructions written on FXTM's official website. Before choosing a provider to follow, you can check the top signal providers' ratings, displayed next to the "subscribe" button.
FXTM doesn't incur any additional commission, so you should only pay the subscription fee to the provider. Even more, there is a free VPS service for registered followers. This facility is explicitly provided for EA users.
International Financial Holding, officially known as FIBOGroup (Financial Intermarket Brokerage Online Group), is a brokerage company offering online trading services since 1998. With the mission to always meet the highest international standards, FIBO is currently regulated by the Financial Services Commission of the British Virgin Islands and the Cyprus Securities and Exchange Commission (CySEC).
The company is very "generous" in offering different types of trading accounts. Aside from Cent Account and MT5 NDD, the minimum deposit in FIBOgroup's accounts starts from $50. It is important to note that MT5 NDD requires a minimum deposit of $1000. Trading in FIBOGroup enables traders to enjoy variable spreads, although the MT4 Fixed account offers fixed spreads from 2 pips.
Meanwhile, the average maximum leverage in FIBOGroup is 1:400. Only two types of accounts have different standards of the highest leverage; 1:1000 in Cent Account and 1:200 in MT4 Fixed.
FIBOGroup provides a comprehensive market analysis comprised of contents on long-term forecasts, economic calendar, interest rates, financial instruments, and Shares.
The company also houses a proprietary PAMM feature that allows professional traders to become Account Managers with a profit-sharing system. New traders who open accounts in FIBO can benefit from PAMM by following an Account Manager that they choose by their preferences. For this particular feature, FIBOGroup provides a special feature of the Manager rating table.
Since its invention in the late 1990s, FIBOGroup has reached global recognition. They have official branches in Vienna, Limassol, Munich, Shanghai, Kyiv, Limassol, and Almaty. Deposit and withdrawal options range from wire transfer, credit card, BitPay, Blockchain, Neteller, Skrill, Perfect Money, FasaPay, and many others.
In conclusion, FIBO Group is an experienced broker for adventurous traders who like to try out various trading conditions; from variable spreads to fixed spreads, from MT4 to cTrader, from low leverage to high leverage, from independent trading to PAMM trading. Their low deposit requirement also indicates that it is open to all kinds of traders regardless of their amount of capital.
In FIBO, the automated trading signals are categorized as a part of the auto trading service. Not only providing detailed instructions on how to use the signals, but the broker also explains the problems that may arise from automated trading signals and suggested solutions. FIBO compiled the provider ratings in a more detailed format so traders can weigh the options even more thoroughly. Also, the rankings of MetaTrader 4 and MetaTrader 5 signals are displayed separately, so it is more comprehensive for traders who use both platforms.
NordFX is known as an online Forex and CFD broker company operating in Vanuatu. Following the norm of forex brokers in the country, NordFX is registered under the Vanuatu Financial Services Commission (VFSC). Although not as popular as Cyprus as an offshore destination, Vanuatu still serves as one of the main offshore jurisdictions for retail online brokers.
One of the main advantages of opening a trading account in NordFX is the simplicity in trading registration and flexibility in trading conditions. Those characteristics somehow offset the negative sides of offshore brokers that concern the majority of traders with big deposits.
As for NordFX, the maximum leverage offered reaches up to 1:1000, allowing traders to dream big with small capitals (but high-disciplined trading rule and psychology). The available instruments vary from tens of forex pairs, commodity-based CFDs, and index-based CFDs. This allows traders to get involved in not only currency markets but also stock indices, precious metals, and oil markets.
Compared to other forex brokers with a similar level of credibility, NordFX is quite generous in its spread policy. The Pro and Zero accounts are equipped with spreads starting from 0.9 pips and 0.0 pip respectively. Yet, the Fix account is presented with 2 pips spread, which is quite ironic since the account is the most suitable for small traders with a minimum deposit starting only from $10.
Here are the basic specifications for each account types in NordFX:
- Minimum deposit: $10
- Spread: from 2 pips
- Leverage: up to 1:1000
- Account Balance: in USD, ETH, and BTC
- Quote precision: 4 digits
- Commission: None
- Minimum deposit: $250
- Spread: from 0.9 pips
- Leverage: up to 1:1000
- Account Balance: in USD, ETH, and BTC
- Quote precision: 5 digits
- Commission: None
- Minimum deposit: $500
- Spread: from 0.0 pips
- Leverage: up to 1:1000
- Account Balance: in USD, ETH, and BTC
- Quote precision: 4 digits
- Commission: 0.0035% per trade (each side)
For platform choices, trading in NordFX allows the use of both MetaTrader 4 and MetaTrader 5; all available for desktop and mobile interfaces. It signifies the broker's initiative to keep up with current trends as MetaTrader 5 is starting to gain followers, while MetaTrader 4 is kept to facilitate its faithful users. Both have a tremendous selection of Expert Advisors, custom indicators, as well as Strategy Providers in their built-in mirror trading feature.
NordFX accepts payment from nearly all of the popular online methods among retail traders around the globe. Hence, it’s not surprising to see it offering traders a wide range of payment methods that include Bank Transfer, Visa, MasterCard, WebMoney, Skrill, Neteller, Perfect Money, Qiwi, and many others. However, NordFX hasn't accepted payments via cryptocurrency wallets even though the broker is starting to promote the digital asset as its latest recommended trading instrument.
To conclude, NordFX may hold the unavoidable impression of being an offshore forex broker. However, it is still highly competitive and considered ideal as traders' preferred choice for a broker with zero spread conditions and flexible leverage. Since the loose trading condition usually goes hand in hand with a high-risk trading environment, it is also important to implement cautious measurements on all front when calculating money management and risk management in NordFX.
NordFX allows its clients to register for the MQL5 service, either as a follower or a provider. Although this broker does not provide the signal ratings like other brokers, it has a unique advantage, which is the access to the MQL5 service for demo account users. With the facility, traders can test the signal performance without risking any funds. However, although the signals are accessible for both MetaTrader 4 and MetaTrader 5, it is worth mentioning that one trading account can only subscribe to one automated trading signal.
Apart from providing access to the ZuluTrade platform, Weltrade also supports trading signals for MetaTrader. According to the broker's official website, you can get automated trading signals from experienced traders suitable for MetaTrader 4 and MetaTrader 5. Their credibility is already proven by statistics and track records, which are updated every day. However, Weltrade only provides access to automated trading signals on live accounts and does not provide the best signals' ratings. So to avoid the risk of significant losses, you need to be really selective in choosing the best signals.
Compared to the previous brokers, HotForex offers quite a wide range of automated trading signal options, including the paid and free ones. The broker also guarantees trading that is free of slippage and delays using the Market Execution mode. What needs to be considered is that there is only one type of trading account that can be used for automated trading signal service, which is Auto Account. Every account can only subscribe to one trading signal, but each trader can have more than one Auto Account. So in this broker, the possibility of using more than one trading signal is just simply next to nothing.
Based on the explanation above, you might think that automated trading signals are more suitable for beginners because it can analyze the market condition in real-time and automatically execute the orders once certain conditions are met. But in reality, this is not always the case. First of all, choosing a profitable signal provider is not easy.
As a trader, it's crucial to know which signal can be helpful and which provider is reliable. If the trader already uses the automated signal from one of the best signal providers, it still doesn't guarantee a huge profit or that they could instantly become an expert. In order to be successful, traders need to know basic trading techniques and continuously improve their trading skills.
If you are a beginner and want to try this service, it would be wise to be extra selective and careful in choosing the signals. At the same time, you also need to continuously learn about forex trading and gain more experience in the market. If the automated trading signal is a first step that can help you, you may start trading with a broker that provides MQL signals. This comparison table can help you review some of the aforementioned brokers:
|❗Information||Testimonials (90), News (5), Articles (11), Bonus (13), Promotions (7)||Testimonials (51), News (28), Bonus (6), Promotions (8), Contests (12)|
|💲 Min Deposit||$5||$10|
|⚖ Max Leverage||1:888||1:2000|
|💡 Min Position||0.01 lot||0.01 lot|
|💳 Payment||CashU, Credit/debit cards, FasaPay, giropay, iDEAL, Moneta.Ru, Neteller, paysafecard, QIWI, Skrill, SOFORT, UnionPay, WebMoney, Western Union and Wire transfer||AdvCash, AstroPay, Boleto Bancário, Credit/debit cards, Local bank transfer, Neteller, Perfect Money, Skrill, UnionPay and Western Union|
|🧩 Demo Account|
|📁 Segregated Account|
|🕋 Islamic Account|
|👨💻 PAMM Account|
|📈 Managed Account|
|🇺🇸 US traders|
|🏆 Trading contests|
|⚡ Automated trading|
|💰 Bonus offers|
|📖 Free education|
|1️⃣ One-click trading|
|⏱ Trailing stop|
|⏳ Pending orders|
|Gold & Silver|
|🗣 Website Languages||Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Turkish||Arabic, Chinese, Croatian, Czech, English, Estonian, German, Hungarian, Indonesian, Italian, Latvian/Lettish, Malay, Polish, Portuguese, Russian, Spanish, Thai, Ukrainian, Vietnamese|
|🚪 Trade Now||Open XM||Open RoboForex|
To get full insight on the other brokers, go to the forex broker comparison tool.