So, is it official that cent account signals are not rated and not included in MQL5.com signal list anymore?

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Eleni Anna Branou
Moderator
6601
Eleni Anna Branou  

By reading on a topic in this forum and doing some reasearch in the MQL5.com signal list, I've realized that cent account signals are not rated and not included on the MQL5.com signal list (by rating, profit, subcribers, or any other factor) anymore.

Is this a new policy from MQL5.com?

Marco vd Heijden
Moderator
8169
Marco vd Heijden  

I guess so.

Cent accounts are for practice trading.

Maybe the majority of accounts that go bust were cent account. Not sure.

But the signal provider should have some risk in it too because it creates responsibility.

The cent account $10 signal to subscribers with pro account 100k+ $$$ funds just doesn't seem logical.

Also the cent account is $10 the subscription fee $30 doesn't seem right.

Sergey Golubev
Moderator
106119
Sergey Golubev  

We do not know yet.
I just see the thread about it in rus part of the forum: Free Cent Signal (but it is just a talking as no admin replied).
I think - the service desk may clarify the situation (after vacation for example).

Eleni Anna Branou
Moderator
6601
Eleni Anna Branou  

I just saw another top (in terms of subscribers and former rating) signal based on a cent account, that has a FREE label on its subscribe button, so must be official then.

Mohammad Bazrkar
2584
Mohammad Bazrkar  

There is no 'cent' word in the rules page ( https://www.mql5.com/en/signals/rules )

And we know any cent accounts are not free and they must categorized and treat as real account !

Rules for copy trading in MetaTrader 4 and 5 - the Trading Signals service
Rules for copy trading in MetaTrader 4 and 5 - the Trading Signals service
  • www.mql5.com
The "Signals" section on MQL5.com is designed to monitor trading results and transmit trading signals based on buy/sell transactions performed in the trading account of the Signals Provider. The "Signals" service is available for use only to mql5.com registered Users who accepted and agreed to be bound by the terms and conditions of the Signals...
Sergey Golubev
Moderator
106119
Sergey Golubev  

And I see the last post on that thread

The service desk may explain (bug or new policy for example)

Abdallah Elsracby
688
Abdallah Elsracby  

they should decide that on the new signals >>> what about the old signals ??!!

I tired to get this rating for 6 months


Tam Do
11
Tam Do  
Marco vd Heijden:

I guess so.

Cent accounts are for practice trading.

Maybe the majority of accounts that go bust were cent account. Not sure.

But the signal provider should have some risk in it too because it creates responsibility.

The cent account $10 signal to subscribers with pro account 100k+ $$$ funds just doesn't seem logical.

Also the cent account is $10 the subscription fee $30 doesn't seem right.

I think it is better to put more strict regulations:

1. Prohibit cent account;

2. Each Signal account must initially deposit at least $100 and always remain on this number;

3. Prohibit open accounts at less reputable Brokers such as <>, <>,...

4. Eliminate fraudulent accounts such as profit orders then withdraw money and then close orders to increase % profit

5. Accounts must be public for at least 4 weeks to be subscribed

6. Specifies the maximum drawdown, for example 50%, if any signals that reach this level is closed....

Mql5 must do these things to bring credibility to the subscribers.

I remember in early 2017 the top signals had thousands of subscribers, but now the number is only a few hundred. These subsribers have lost confidence in the deception of many signal providers


Thanks.

Eleni Anna Branou
Moderator
6601
Eleni Anna Branou  
Tam Do:

I think it is better to put more strict regulations:

1. Prohibit cent account;

2. Each Signal account must initially deposit at least $100 and always remain on this number;

3. Prohibit open accounts at less reputable Brokers such as <>, <>,...

4. Eliminate fraudulent accounts such as profit orders then withdraw money and then close orders to increase % profit

5. Accounts must be public for at least 4 weeks to be subscribed

6. Specifies the maximum drawdown, for example 50%, if any signals that reach this level is closed....

Mql5 must do these things to bring credibility to the subscribers.

I remember in early 2017 the top signals had thousands of subscribers, but now the number is only a few hundred. These subsribers have lost confidence in the deception of many signal providers


Thanks.


I have already suggested most of the above proposals to the Service Desk, along with one that will make in my opinion the signal system more safe and honest for potential subscribers:

Not to allow signals that haven't been connected to MQL5.com signal database from the very beginning.

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