Download MetaTrader 5

How to Subscribe to Trading Signals

9 October 2012, 15:38
MetaQuotes Software Corp.
240
292 823

The Signals service allows users to connect to any signal and automatically copy trades of professional traders. Thousands of signals for MetaTrader 4 and MetaTrader 5 are available in the service. Read the article to learn how easy it is to subscribe, and how to choose the best option among the variety of available signals.

Trading Signals in MetaTrader 4 and MetaTrader 5


How to Choose a Signal

The service provides a huge number of signals for subscription. How to choose the most appropriate one?

Rating

To help users choose the best signals, we compile a rating of signals based on various criteria. Top ranked signals show up first in the list. And vice versa, low rated signals are hidden from the Showcase on the site and in trading terminals to protect subscribers from poor-quality strategies.

Selection of Signals with the Best Conditions

The showcase of signals provides a special function for selecting signals with the most suitable conditions for copying. Users just need to specify the name of the server, on which their trading account is open. The system will pick up signals with the best matching settings of trading instruments and the lowest slippage.

Selecting signals with the best conditions

Warning

When selecting a signal, make sure to carefully analyze the entire complex of trade reports. Pay attention to the warnings that are displayed on the signal page.

Warnings on the Signal page

Sorting and Filtering

To select signals based on specific criteria, use the sorting and filtering functions.

Sorting and Filtering

A Showcase of Signals in MetaTrader and Favorites

Traders can select signals and subscribe to them directly from the MetaTrader 4 and MetaTrader 5 terminals.

A Showcase of Signals in MetaTrader, adding to Favorites

Click on the column headers to sort the signals accordingly - by growth, drawdown, number of subscribers, etc.

A few signals matching the selected criteria can be found on the list. Add them to Favorites, so you can easily get back to them later and evaluate once again. Click on the star on the list or on the signal page, and the selected signal will appear on a separate tab "Favorites".


How to subscribe to a Signal

Subscribing to a signal is easy. Two accounts are needed: a MetaTrader 4 or MetaTrader 5 trading account and an MQL5.community account.

To subscribe to paid signals, enough money should be available on the user's MQL5.community account.

Go to the trading terminal settings and specify the MQL5 account in the "Community" tab:

Configuring connection to MQL5.community in the trading terminal

Now you can subscribe to the signal either directly from the trading terminal or on the MQL5.com site.

Subscribing from a Terminal

Select a signal in the Showcase. Subscription can be selected directly in the list or on the signal details page. Click "Subscribe..." and confirm subscription in the appeared window.

Subscribing to signals from the trading terminal

Check all the subscription parameters and pay special attention to the warnings (if any) of mismatching trading conditions. It is recommended to use signals with similar trading conditions.

To continue subscription, agree to the terms of use of the Signals service and specify the MQL5.community password to confirm subscription. After this, a window of copying parameters will open.

Signal Copy Settings

If necessary, change the settings. After a click on "OK" trade copying will start.

If you can't find the desired signal in the Showcase of Signals in your terminal, use the built-in search system.

How to Subscribe on the Site

Open the Signal page and click "Subscribe". If the trade platform is not installed on your PC, click "download it here" link in the window that appears. The official MetaTrader 4 or MetaTrader 5 site will open, where the terminal can be downloaded and installed. Otherwise click "Start copying in MetaTrader". The trading terminal will open. The selected signal page will open in the terminal, and the subscription confirmation window will appear. Subscription is completed from the terminal as described above.

Subscribing to signals on MQL5.com

  • All subscriptions can be managed in the 'My Subscriptions' section.
  • With a real account one can subscribe only to a signal based on a real account.


Subscription control

All actions, including Signal operation related ones, are recorded in the terminal Journal. Here are a few examples of important subscription logs. All records associated with the signals begin with the 'Signal' keyword.

The terminal detected a subscription to the "My trade" signal for the JohnSmith account, the subscription expiration date is - 2014.09.28, copying is enabled.

Signal - 'My trade' for 'JohnSmith' subscription found, 2014.09.28 expiration, enabled

Copying parameters: uses 5% of deposit, no limit on the minimum equity, allowed slippage is 0.5 spread, copying of Stop Loss and Take Profit is disabled.

Signal - money management: use 5% of deposit, equity limit: 0.00 USD, deviation/slippage: 0.5 spreads, copy SL/TP: disabled

The balance and leverage of the subscriber and the signal provider, as well as the copied percentage calculated based on these details. In this case the volume to be copied is 7% of the source one.

Signal - percentage for volume conversion selected according to the ratio of balances and leverages, new value 7% (old value 1%)
Signal - subscriber has balance 4 919.27 USD, leverage 1:100
Signal - signal provider has balance 638.31 USD, leverage 1:500

A warning of mismatch of symbol settings (EURUSD) on the subscriber's and the signal provider's account. In this case, the values of the minimum allowed volume differ: 0.01 and 0.1.

Signal - different specification of symbol EURUSD, signal provider has minimal volume 0.01, subscriber has 0.10

A position on GBPUSD found on the trading account, it is not related to the signal the user is subscribed to. Note that these positions increase the overall load on the account as compared with the signal provider.

Signal - local position [#78109460 buy 0.10 GBPUSD at 1.66023], does not correspond to signal provider

The GBPNZD symbol not found. If the provider trades this symbol, related operations will not be copied on the trader's account.

Signal - symbol GBPNZD not found

The terminal detected a subscription to the "My trade" signal for the JohnSmith account, the subscription expiration date is - 2014.09.28, copying is disabled. Enable copying in the signal settings of the terminal.

Signal - signal subscription disabled, enable realtime subscription in 'Signals' settings
Signal - 'My trade' for 'JohnSmith' subscription found, 2014.09.28 expiration, disabled

Use of the Services on the mql5.com site

The mql5.com website and all the services available on it are owned by MQL5 Ltd.

MQL5 Ltd is a technology provider and does not provide any financial advise. Users of the service process and transmit all their transactions through their brokers with whom they hold trading accounts. You have agreed that MQL5 Ltd is not responsible for any investment decision made by you and indemnifying MQL5 Ltd from any direct or indirect liability out of the use of this service.


Conclusion

The Signals service provides maximum convenience and security for all those who want to copy trades of professional traders. All you need to get started is an account in MetaTrader and an MQL5.community account. Connect to the most successful traders and earn money with them.


SUBSCRIBE TO SIGNALS NOW


We also recommend following articles dedicated to signals:

Translated from Russian by MetaQuotes Software Corp.
Original article: https://www.mql5.com/ru/articles/523

Last comments | Go to discussion (240)
Aleksey Pak
Aleksey Pak | 26 Sep 2016 at 12:54
ejjcb1:

Hi.

I want to subscribe to a signal and VPS.

Following the well documented procedure, (How to subscribe to a Trading signal) I selected Signals in the MT4 platform, selected the signal I wanted, then on Subscribe for x USD (or on MQL5 for payment method).

In the Option dialog box, under the Community tab, entered the login and password, to get the Journal entry "MQL4 Market: failed to get list of user products [401].

The question is, what am I doing wrong? How do I subscribe to a signal and VPS. I can confirm there are funds in the MQL5 account.

Check your password and re-enter again.
Aleksey Pak
Aleksey Pak | 26 Sep 2016 at 12:55
MF786:

Need Help 

Signals provider symbols has 5 digits for example for GBPUSD "1.3058" and my brokers symbols has 6 digits for GBPUSD i.e "1.30586" . Can i copy trades for this signal easily or should i open an account with the same broker ?

You can copy all trades. Read this FAQ about Signals Service
ejjcb1
ejjcb1 | 28 Sep 2016 at 05:47
Aleksey Pak:
Check your password and re-enter again.

Hi, and thank you for your help.

I have checked the password and re-entered it, several times, but I still get the same result in the journal. 

"MQL4 Market: failed to get list of user products [401].

 MQL5.community: authorization failed

The password I have does seem to be correct because I needed it to deposit funds, and there were no difficulties then.

What are the implications of Authorization failure? 

Thanks,

Ted 

ejjcb1
ejjcb1 | 28 Sep 2016 at 05:52

A perhaps significant point I have missed out; I have been working from the MT4 platform, selecting Signals from there.

Should I be working through the MQL5.community website? 

Ted 

ejjcb1
ejjcb1 | 29 Sep 2016 at 10:21

If I have interpreted the message correctly, why is the system looking in MQL4 Market for a list of products, when the signals are not there?

Should it not be looking in MQL4 Signals?

Just for confirmation, the top right of the MQL5 web page shows my username, so I presume I am successfully connected to MQL5.

The trading platform MT4 is version 4.00, build 1010, 16 August 2016,

What am I doing that is not correct?

How do I subscribe to a signal? 

Ted 

Step on New Rails: Custom Indicators in MQL5 Step on New Rails: Custom Indicators in MQL5

I will not list all of the new possibilities and features of the new terminal and language. They are numerous, and some novelties are worth the discussion in a separate article. Also there is no code here, written with object-oriented programming, it is a too serous topic to be simply mentioned in a context as additional advantages for developers. In this article we will consider the indicators, their structure, drawing, types and their programming details, as compared to MQL4. I hope that this article will be useful both for beginners and experienced developers, maybe some of them will find something new.

Here Comes the New MetaTrader 5 and MQL5 Here Comes the New MetaTrader 5 and MQL5

This is just a brief review of MetaTrader 5. I can't describe all the system's new features for such a short time period - the testing started on 2009.09.09. This is a symbolical date, and I am sure it will be a lucky number. A few days have passed since I got the beta version of the MetaTrader 5 terminal and MQL5. I haven't managed to try all its features, but I am already impressed.

False trigger protection for Trading Robot False trigger protection for Trading Robot

Profitability of trading systems is defined not only by logic and precision of analyzing the financial instrument dynamics, but also by the quality of the performance algorithm of this logic. False trigger is typical for low quality performance of the main logic of a trading robot. Ways of solving the specified problem are considered in this article.

Using text files for storing input parameters of Expert Advisors, indicators and scripts Using text files for storing input parameters of Expert Advisors, indicators and scripts

The article describes the application of text files for storing dynamic objects, arrays and other variables used as properties of Expert Advisors, indicators and scripts. The files serve as a convenient addition to the functionality of standard tools offered by MQL languages.