I'm new and am practicing with a demo. Is this site a brokerage? I see where we deposit and withdraw money, so is this site like Forex.com, et al?
Also, when I copy trades, am I able to close them out manually when it reaches enough profit for me, or is the closing set by the provider?
You can find most of you need in this article: https://www.mql5.com/en/forum/11134
Thank you. I see that I can close out trades now, but is this site a brokerage that we deposit funds to?
I'm currently registered with OandA but haven't funded my account there yet. Do we fund our accounts here and withdraw money from this site?
The MQl5 it is not a broker. You can deposit funds in order to pay for products or signals.
You must have a broker account (just like the one you have) and deposit the funds you want to trade.
You have to download the MT4/MT5 platform log in with your MQL5 account and start following any signals you like. Or you can buy an EA from the market...
With time you will know the site better..
Oh, I see. Thanks for the info. Btw, I've been trying out the copy feature and would like to know if we need to find a signal provider that matches what we want to trade?
For example, I'm opening an account with $200 and want to trade only the EUR/USD pair. Do I need to find a provider that only trades that pair, or can I copy a signal that has multiple pairs, then just close all the other trades on his/her list except the EUR/USD pair?
I appreciate you fast replies. Thank you.
You won't be able to select the pairs you want to trade, you'll be receiving exactly the same trades the signal provider decide to take.
So I recommend you to choose the signal that suits you better. If you look carefully you will find signal that only trade EUR/USD.
Hope that helps!
Free signals are demo account signals and you can only copy them with a demo account.
I can see that you are a newbie in the forex world. I will advise you not to deposit money in any account yet. First thing first, download a demo account. Secondly practice for a period of 1 year on demo account. after that when you will feel comfortable about your trading skills then you can open a micro account and trade on a live account.
NB: Trading on demo account is much different than trading on a live account.
Remember my advise.
Do not subscribe yet to any signal, even if people approached you to do so. Do not buy yet any products. You firstly need to learn and understand the market.
Many people will not warn you about this risk in forex. Take you time learning and reading about forex.
I'm talking from experience.
Hey guys I am not sure where to place my question I hope you can help me. I think it's about the site work question
If I've bought the EA from market and accidentally install into wrong terminal - the activation I would be loss or EA will placed to all terminal within 1 PC?
Or do I need to "activate" the EA on each terminal even on 1 PC?
Thank you for your help
You can install it on more terminals on the same PC without losing any more activations.