Letter "m" behind currency-pair - What does that mean?

ArneReimann 2018.08.20 18:37

Hi everybody!

I've found a signal provider for MT5 and now I'm wondering about the letter "m" behind the name of the currency pair (as you can see in the screen below).

Can anyone explain to me the meaning of this letter and furthermore, if there are any restrictions for copy-trading.

Sergey Golubev 2018.08.20 18:49 #1

Frequently Asked Questions about the Signals service

The Provider has trading symbol called GOLD, and my broker has the same instrument, but it is called XAUUSD. Are trades on GOLD copied to XAUUSD in that case?

If a Subscriber's account has a symbol with the same name as the one on the Provider's account, and trading is fully allowed for the symbol, trades will be copied for this symbol. If trading is allowed partially or disabled for the found symbol, this symbol is considered inappropriate for copying, and the system will continue to search for a suitable symbol:

On the Subscriber's account, the system searches for all symbols with the names coinciding with the Provider's symbol by the first 6 characters. For example, EURUSD == EURUSDxxx == EURUSDyyy.
Full permission to perform trading is checked for each detected symbol. If trading is allowed partially or completely forbidden, such a symbol is discarded.
Margin calculation type is checked for each remaining symbol - if it is Forex, a symbol is considered to be suitable. Symbols of CFD, Futures or other calculation types are discarded.
If no symbols remain after conducting all the checks or more than one symbol is found, it is considered that a symbol mapping attempt has failed and it is impossible to copy Provider's trades for that symbol.
If one suitable symbol is found, it is used for copying Provider's trades.

The algorithm provides only two exceptions for metal symbols:

XAUUSD == GOLD
XAGUSD == SILVER

In these two cases, only full permission to perform trades is checked. If such permission is present, the mapping attempt is considered to be successful.

Example 1: A Provider has positions on EURUSD, while a Subscriber – on EURUSD! (or vice versa) with full trading permission. The terminal performs mapping automatically and copies the trades.

Example 2: A Provider has positions on EURUSD, while a Subscriber – both on EURUSD! and EURUSD. The copying is performed for EURUSD.

Example 3: A Provider has positions on GOLD, while a Subscriber – on XAUUSD with full trading permission. The terminal performs mapping automatically and copies the trades.

Example 4: A Provider has positions on GOLD, while a Subscriber – on XAUUSD with close-only (partial) trading permission. The mapping is considered unsuccessful and no copying is performed.