WHY has the ability to use signals to demo accounts been removed????

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So I noticed recently that with the update, MT has removed the ability to copy signals to a demo account. 

Reasons why this is a terrible update:

- Can no longer use a demo account with the same broker as the signal provider, in order to copy special symbols. Which I was then able to use a copy trader to trade those special symbols to my main account. Now I cannot subscribe to providers which have a different symbol unless I use a live account with their brokerage, most of which are not available in my country. 

- Can no longer adjust copy proportion properly. Whereas normally I am able to use a larger demo account to proportionally copy at a lower percentage setting, I must now use a live account with a larger balance if I want to copy trade deals to a different account and have them proportionally adjusted with a lower copy percentage.

- Cannot copy multiple signals to diversify signals. Whereas normally I could copy trades from 3 different demo accounts to 1 main accounts proportionally, I now have to create multiple LIVE accounts if I want to follow more than one signal and copy them to a main account, all with live balances. 

This is such a terrible update. WHY. Why would you create this update? This completely ruins everything I have been doing.

 

We are normal users here. We don't know the reasons in full, only suppositions and the outcome. We also have no say in the decision, so your remarks will not affect the situation.

As it stands, signals on demo or cent accounts (or private signals) are no longer allowed ...

Forum on trading, automated trading systems and testing trading strategies

The Signals service is in decline

Renat Fatkhullin , 2024.01.17 12:07

Along with the release of MetaTrader 5 this Friday, there will be the following changes:

  1. Support for signals on any non-real accounts (demo, contest, cents, etc.) for MetaTrader 4 and MetaTrader 5 is completely removed
  2. The ability to register demo or private signals on the site is removed
  3. The ability to create free signals is removed
  4. MQL5 functions SignalsXXXX are abolished; they return empty data and the code ERR_MQLAPI_FUNCTION_NOT_ALLOWED
  5. Signals can only be created by users who have received seller status


With these steps we will clear the service of garbage, free up a lot of resources and create a clean storefront.


The next step will be to reform the terms of the account with a signal subscription :

  1. Any copiers are prohibited - they are the ones who stole our signals service
  2. Connections with read only passwords are prohibited - this is how they are stolen from other people’s copy trading services
  3. All MQL5 functions will produce empty open positions/orders/trade history - copiers will be useless
  4. Inability to bypass these conditions by connecting from other copies of terminals

This will improve the quality of the service.

It was officially announced here:

4. Terminal: Disabled support for the Signals service for demo accounts. To access enhanced statistics on your training accounts, use the new trading report . It features a plethora of metrics characterizing your strategy profitability and risks, including growth, balance and equity graphs, diagrams of trade distribution by direction and instruments, and much more.

12. MQL5: Disabled and deprecated Signal* functions. They will now return empty signal sets.

 
Fernando Carreiro #:

We are normal users here. We don't know the reasons in full, only suppositions and the outcome. We also have no say in the decision, so your remarks will not affect the situation.

As it stands, signals on demo or cent accounts (or private signals) are no longer allowed ...

It was officially announced here:

4. Terminal: Disabled support for the Signals service for demo accounts. To access enhanced statistics on your training accounts, use the new trading report . It features a plethora of metrics characterizing your strategy profitability and risks, including growth, balance and equity graphs, diagrams of trade distribution by direction and instruments, and much more.

12. MQL5: Disabled and deprecated Signal* functions. They will now return empty signal sets.

Of course we are normal users. But today i use demo accounts with copier because i want to follow 4 or 5 signals with with low scale factor and do not take risk with high DD. If one provider take big risks it will not affect all my account but 20% of it. And then i copy all on my real account.

With what they do, it will be impossible to have more than one signal per account, which is stupid. How to have 2 or 3 signals on the same real account ? Not possible without demo accounts and copier.

 
Frédéric LEBRE #:

Of course we are normal users. But today i use demo accounts with copier because i want to follow 4 or 5 signals with with low scale factor and do not take risk with high DD. If one provider take big risks it will not affect all my account but 20% of it. And then i copy all on my real account.

With what they do, it will be impossible to have more than one signal per account, which is stupid. How to have 2 or 3 signals on the same real account ? Not possible without demo accounts and copier.

Exactly. Same problem here.

 
Same problem here. And what dooesn't make sense is the fact that they let you specify the demo account in the settings of the signal subscription .. and you'll have to wait one week in order to be able to switch to another account.
 
MM2404 #:  Same problem here. And what dooesn't make sense is the fact that they let you specify the demo account in the settings of the signal subscription .. and you'll have to wait one week in order to be able to switch to another account.

That is not true!

Demo accounts don't even have the Signals option/tab active in MetaTrader so you can't subscribe at all (I'm assuming you are using a current build of MetaTrader and not some old incompatible build).


Also, for signal providers, when creating signals, it also does not allow it.


 
zjtra:

So I noticed recently that with the update, MT has removed the ability to copy signals to a demo account. 

Reasons why this is a terrible update:

- Can no longer use a demo account with the same broker as the signal provider, in order to copy special symbols. Which I was then able to use a copy trader to trade those special symbols to my main account. Now I cannot subscribe to providers which have a different symbol unless I use a live account with their brokerage, most of which are not available in my country. 

- Can no longer adjust copy proportion properly. Whereas normally I am able to use a larger demo account to proportionally copy at a lower percentage setting, I must now use a live account with a larger balance if I want to copy trade deals to a different account and have them proportionally adjusted with a lower copy percentage.

- Cannot copy multiple signals to diversify signals. Whereas normally I could copy trades from 3 different demo accounts to 1 main accounts proportionally, I now have to create multiple LIVE accounts if I want to follow more than one signal and copy them to a main account, all with live balances. 

This is such a terrible update. WHY. Why would you create this update? This completely ruins everything I have been doing.

i know this is a stupid update i cant use signals anymore

 
There is no free lunch!
Do you know this wisdom from business?
The terminal is free for us(!) and the demo accounts don't make anyone any money - what do you expect?
 
Carl Schreiber #:
There is no free lunch!
Do you know this wisdom from business?
The terminal is free for us(!) and the demo accounts don't make anyone any money - what do you expect?

i still pay for the signal and copy trade it over to mt4

 
Carl Schreiber #:
There is no free lunch!
Do you know this wisdom from business?
The terminal is free for us(!) and the demo accounts don't make anyone any money - what do you expect?

I doubt that you said that in your head with a straight face.

1) it isnt free. Most of us are paying the brokers who are paying mq. So that "free" statement is just ignorant or juvenile if you really think that they are free;

2) if you know anything about business, it is often the "free" stuff that is either "value added", or is how most of the paying customers are first introduced to the "paid products". So, that statement about business is just quite ignorant too.

3) i am unsure of this, however, I would bet that a good deal of the free signal accounts are also trading live and paying the brokers who are paying mq. And if this is true, then mq is cutting its own throut by cutting out these customers who previously held private signals.

4) If even just 1 of my statements is true, then, this is just bad business. And it will be the paying customers who will pay extra for the financial loss made by this decision.

 
next thing mq will do is increase broker and seller fees, if they havent done it already.
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