Signals Broker - Question - Forex Market - General

Eleni Anna Branou 2021.02.10 18:10 #1

williampzg:

Hi guys,

I'm new in forex and I appreciate your help. Do I have to have an account in the same broker where I'm hiring the signal? for example, My account is on FxPro.com-Real05 and the signal that I'm looking for to hire is from ICMarkets-Live03. Do I have to open an account in IC Market and an account in Live03 to hire this signal?

Thank you for the help.

The difference in price between brokers is called slippage and is the most common problem when copying a signal.

You should check the Slippage tab of the signal you are interested in and choose one of the broker/server options with the green or upper yellow values, orange and red are to be avoided.

If the signal is not employing a scalping strategy though and has a longer term perspective, targetting more than 10-20 pips per trade, you may try to copy it with one of the not so good options.

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williampzg 2021.02.10 18:22 #2

Eleni Anna Branou:

The difference in price between brokers is called slippage and is the most common problem when copying a signal.

You should check the Slippage tab of the signal you are interested in and choose one of the broker/server options with the green or upper yellow values, orange and red are to be avoided.

If the signal is not employing a scalping strategy though and has a longer term perspective, targetting more than 10-20 pips per trade, you may try to copy it with one of the not so good options.

Thanks Eleni.

Is it common to open account in different brokers to avoid this high slippage? For example, the two signal that I'm looking for, one is red and the other is orange. I see that the IC Market broker have low slippage in those signals, should I open multiple broker accounts?

Thank you in advance.

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Eleni Anna Branou 2021.02.10 18:58 #3

williampzg:

Thanks Eleni.

Is it common to open account in different brokers to avoid this high slippage? For example, the two signal that I'm looking for, one is red and the other is orange. I see that the IC Market broker have low slippage in those signals, should I open multiple broker accounts?

Thank you in advance.

Yes, its quite common, a signal subscriber is always looking for better copying setups.