Advice to whomever believing in extremely high growth signal which thrive suddenly in short term. How to identify scamming signal:1) Before signal is published, you will see multiple trades opened at similar price level, trades opened at almost the same time and closed at the same time as well. One thing I could assure you that this account is a fake one as you can make one your own by creating multiple account hedging each account and narrow down till a single account with the highest growth. The process consume time and lose some money for spreads, but what's wrong with losing so little money since money can be earned from subscribers again?2) Scam signal provider always used cent account but the account currency is indicated in USD such as Procent server. It seems like the author has invested a huge sum of capital but the indicated 1,000USD is actually equivalent to 10USD only. Think about it.3) Fancy description is what drive naive subscribers into thinking the author is a professional. "Many years of experience... investing this and that...a banker...or whatever...'; think about this if a professional really wanted to sell his service for 20, 30 or 40 USD? to earn you huge profit? Please be realistic...Think twice and seriusly before subscribe, not to put your money at risk...
Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Receiver - new and improved multi-terminal positions copier for your real/demo account, works faster, requires less, flexible in managing and upgrading, new information support. This Expert Advisor is designed for the MetaTrader 5 terminal, trades will be copied into this terminal.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention
MACD All MAs-14 is a MACD indicator that allows choosing usual parameters of the standard MACD (constructed from EMA) as well as the type of the moving average to be applied: up to 14 different types.
You can select 9 standard MAs available in MetaTrader 5 - SMA, EMA, SMMA, LWMA, DEMA, TEMA, Frama, VIDYA, AMA, TRIX, and 4 non-standard - LRMA, HMA, JMA, AFIRMA.
Method MA - select the type of moving average to be displayed in the current graph. Period slow MA - the number
The indicator displays economic news on the currency chart (the appropriate data must be downloaded from the Internet - please see the download instructions on the screenshots provided). The list of currencies (countries) is customizable. By default it shows all currencies. The main parameters come with a built-in description. In addition, there are parameters for advanced users. News items are divided into 3 categories by degree of importance. There is a great flexibility in display parameter s
The indicator determines the inside bar and marks its High/Low. It is plotted based on the closed candles (does not redraw). The identified inside bar can be displayed on the smaller periods. You may set a higher period (to search for the inside bar) and analyze on a smaller one. Also you can see the levels for Mother bar.
Period to find Inside Bar — the period to search for the inside bar. If a specific period is set, the search will be performed in that period. Al
COSMOS4U Volume indicator facilitates your trade decisions. It gives confirmation of the running movement and market trends. It highlights current and past accumulation and distribution volumes, comparing them to moving average volume and the highest volume. In addition, it identifies and marks nuances as well as convergence and divergence patterns of bears and bulls in order to provide the market trend and price ranges.
The supported features are as follows:
Fast Volume Moving Average Slow
DeltaVolumeDistribution indicator can be considered as the fusion of the DeltaVolume and TradeSizeDistribution indicators.
This indicator, inspired by the MarketDelta-family charts, computes the net difference between trades occurring at bid and at ask, while trades occurring between bid and ask quotes are not computed. The indicator plots the resulting DeltaVolume as a unique distribution plot.
With the DeltaVolumeDistribution indicator you will actually be able to see the order flow entering
Trade Copier Pro is a powerful tool to copy trade remotely between multiple accounts at different locations over internet. This is an ideal solution for signal provider, who want to share his trade with the others globally on his own rules. One provider can copy trades to multiple receivers and one receiver can get trade from multiple providers as well. The provider can even set the subscription expiry for each receiver, so that receiver will not be able to receive the signal after that
We present you an effective software solution for arbitrage between brokers.
The Arbitrage on the market became widespread due to decentralization. There are many liquidity providers, whose quotes differ for various reasons. By tracking the dynamics of changes in the quotes of different brokers, it is possible to determine the delayed and leading brokers, thereby predicting the future prices of the delayed broker for a short time. Knowing these prices and using efficient built-in software filte
Safe Automatic is a safe MetaТrader 5 trading robot working autonomously on a VPS server. The good results are achieved on EURUSD.
The EA applies modified versions of a trend-following strategy, half-pyramiding, scalping, Elliott Wave method and speculating trading with a deposit protection. The EA switches the strategies automatically. The program also takes the news calendar into account: the robot does not enter the market in a 10-minute interval before and after a news rel
Exp COPYLOT CLIENT for MT5 is a copier for the МetaТrader 5 platform. It copies forex trades from any accounts. Including those from terminals МТ5 and МТ4.
Install the Expert Advisor in the terminal where you want to copy trades. Specify any text label name as pathRead, for example, "COPY". This should match the master terminal (to bind the two terminals). To copy trades, you need to install the free Master copier in the terminal from where you want to copy the trades: COPYLOT
Fast Copy MT5 allows to copy trades between different MetaTrader 5 (netting)(hedge) and MetaTrader 4 accounts in any direction and amount, quickly and easily (without loading the system).
Any type of copying is available
MT5 —> MT5 MT5 —> MT4 MT4 —> MT5 MT4 —> MT4
* For any interaction with the MT4, it is necessary to additionally install Fast Copy MT4
One tool for sending and receiving transactions: [master] > [slave] operation mode can be selected in
The Expert Advisor implements the classic "triangular arbitrage", which is successfully used by hedge funds.
"Triangular" arbitrage refers to a class of neutral-market strategies, in which the profit or loss of open positions does not depend on the direction of the market movement as a whole.
In order to take profit, the EA exploits a weak spot of market makers - it utilizes the difficulty of balancing cross rates of all currency pairs.
The advantages of the strategy are the following:
The script creates account summary report in a separate window.
The report can be created for all deals and on deals for selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
The script creates account summary report in a separate window.
The report can be created for all deals and for deals of the selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
Virtual TrailingStop is an Expert Advisor that manages trailing stop without sending its information to the broker server.
EnableVirtualTrailingStop: enable or disable whole function VirtualTrailingStop: the pip use for determine how far the Virtual Trailing Stop will placed calculated from current price StartFromBreakEven: true/false. If true, Virtual Trailing Stop will placed after breakeven BreakEvenPoint: point profit from order open price where the Virtual T
Easy Order is an Expert Advisor allowing you to enter any type of trade with one click based on your RISK preferences.
You can choose to enter a trade and automatically calculate your lot size based on how much of your account you want to risk. Risk is calculated based on your Stop Loss placement. You can use a fixed lot size if you don't want to use risk based calculation of lot size. Your previous setting of risk based or fixed lot size remains saved for your next use of this Expert Advi
Market Profile defines a number of day types that can help the trader to determine market behaviour. A key feature is the Value Area, representing the range of price action where 70% of trading took place. Understanding the Value Area can give traders valuable insight into market direction and establish the higher odds trade. It is an excellent addition to any system you may be using.
Blahtech Limited presents their Market Profile indicator for the MetaTrader community. Inspired by Jim Dalton’s
Ichimoku Kinko Hyo is a purpose-built trend trading charting system that has been successfully used in nearly every tradable market. It is unique in many ways, but its primary strength is its use of multiple data points to give the trader a deeper, more comprehensive view into price action. This deeper view, and the fact that Ichimoku is a very visual system, enables the trader to quickly discern and filter "at a glance" the low-probability trading setups from those of higher proba
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This tool is very useful for both scalpers and trend followers. It not only calculates the trade risk exactly, but also protects and maximizes your profits in real-time.
With this tool, the only thing you have to do is to enter trade by your own strategy, then it will auto-drive your position with exit strategy y
Auto Trade Copier is designed to copy trades between multi MetaTrader 5 accounts/terminals with 100% accuracy.
With this tool, you can act as either a provider (source) or a receiver (destination). All trading actions will be copied from the provider to the receiver with no delay.
Note: Demo version for testing can be downloaded at: https://www.mql5.com/en/market/product/5006.
Followings are highlight features:
Switch between Provider or Receiver role within one tool.One provider can copy tr
The indicator displays the current market information about the recent trades (their direction and volume).
BackColor - general background color of the indicator; AboveAskBackColor - background color of the line with information about the last trade in case it was performed at the price above Ask; AboveAskFontColor - color of the text entered in the line with information about the last trade in case it was performed at the price above Ask; AtAskBackColor - background color of the
Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Source - new and improved multi-terminal positions copier for your real / demo account, works faster, requires less, flexible in managing and upgrading, new information support. This expert is designed for terminal MetaTrader5 from which the position will be copied.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention Buttons for re
The Heiken Ashi indicator drawn using a tick chart. It draws synthetic candlesticks that contain a definite number of ticks.
option prices - price option. It can be Bid, Ask or (Ask+Bid)/2. the number of ticks to identify Bar - number of ticks that form candlesticks. price levels count - number of displayed price levels (no levels are displayed if set to 0 or a lower value). calculated bar - number of bars on the chart.Buffer indexes: 0 - OPEN, 1 - HIGH, 2 - LOW, 3 - CLOSE.
The script is intended for automatic placing of Sell Stop pending orders, Stop Losses and Take Profits on the user specified levels. This script is not that useful as "Virtual pending buy stop", since short positions are opened as Bid price crosses the levels. Thus spread widening is not dangerous. Nevertheless, you need to have this script to prevent unwanted hitting of the Stop Loss levels.
Automation of the process of placing the Sell Stop pending orders, Stop Losses and T
My famous Reversal Fractals indicator points possible price reversals using fractals and breakouts, filtering out those which are not likely to precede a price movement.
Easy to analyze and understand Filter out unreliable fractals easily The indicator displays data at bar closing It implements alerts of all kinds The indicator is non-repainting
What is a fractal?
A fractal is a 5bar or 7bar formation being the middle bar the highest/lowest price of the formation.
The script allows users to easily close positions if their profit/loss reaches or exceeds a value specified in pips.
Please set slippage value first. Sometimes some positions do not close due to high volatility of the market. Please set larger slippage or restart the script.
CandleTimer is an indicator that can be usable for scalper and short-term traders. It shows the following useful information:
Remaining and past time of a candle on the current chart or other timeframe Alarm setting for play sound at the start of the current candle Show SL/TP line defining whether the indicator has a Sell or Buy order or both Show a spread value Show Ask and Bid lines in different colors in high and low spread Compatible with a money management EA (you can buy it separat
The most profitable trend traders are the ones who know how to recognize not only the market trend, but also the trading opportunities that arise once a trend has been established. The Pz Trend Trading indicator has been designed to profit has much as possible from trends taking place in the maket.
Established trends offer dozens of trading opportunities, but most trend trading indicators neglect them completely, and leave the trader completely uninformed about what the market is doing during a
The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels.
Avoiding unwanted entering a long position in case of false hitting the level as a result of widening of the spread by a dealing center. Avoiding unwanted triggering of a Stop Loss in case a quote pierces a significant level (fractal) without further confirmation with the close price. Setting a necessary virtual order and entering the market in
The fractal analysis of the markets is used in the indicator operation algorithm. According to the fractals theory, after the breakthrough of the fractal level confirmed by the closing price located below or above the fractal, the trend wave in the direction of the breakthrough starts to develop. Until the fractal has been passed in the opposite direction, the trend is considered to be acting even if the price is flat or moves backwards. If a bullish fractal has been previously broken through on
MetaCOT 2 is a set of indicators and specialized utilities for the analysis of the U.S. Commodity Futures Trading Commission reports. Thanks to the reports issued by the Commission, it is possible to analyze the size and direction of the positions of the major market participants, which brings the long-term price prediction accuracy to a new higher-quality level, inaccessible to most traders.
These indicators, related to the fundamental analysis, can also be used as an effective long-term filte
You have detailed some very telling points of scam signals' modus operandi.
This is an excellent article - short and sweet. Thank you! I wish I had read this article before I subscribed to all those scammy signal providers...
I totally agree. Trading is like a sea full of sharks. I hope your warning will be listened by a lot of people before buying a signal provider.
Thank you for your thread - its definitely got me thinking. I have recently noticed that there are some high-profit/growth signals on here for which I have downloaded the trading history.
I have can see in their trading history that they have a very high percentage of profitable trades (>90%) and extremely high profit. When one inspects their trading history it is evident that they have placed many trades of the same type, size, etc in rapid succession and closed them out again in rapid succession. Obviously one would ask the questions why it is necessary to open multiple positions of the same type rather than just open a single, larger position (?).
Something that I am struggling to understand is that even though many of the trades are "copies" of each other, the fact remains that a substantial proportion of the "unique trades" are profitable. Does this mean that the signal provider is opening many, many accounts and basically guessing trades, then gradually trimming down the list of accounts to those which made good statistics, then presenting it as a signal on here?
I thought that MQL5.com would only display the signal history for the signal during the time its been live as a broadcast signal on MQL5. So a scammer cannot develop a system offline until they have one that has a nice history, then broadcast their signal on MQL5.com with that history that was "recorded offline" (?). This means that even if the signal is repeating many trades then even though many of those trades are copies of themselves, they were broadcast legitimately (i.e. they were posted live on MQL5 without already knowing what the outcome of the trade would be), and to me this would mean that the only advantage of posting multiple copies of the same trades is to make the trade history of the signal look longer than it really is.
As an example, check out the this signal here:
The signal has an outrageous profitable trade percentage and pips earned vs lost. The signal is also reported as having 1047 completed trades. Inspection of the history log file shows that those trades are actually executed in batches of 3-8 trades that are of the same currency symbol, so really there are approximately maybe 150-200 unique trades. The thing is that 90% of those trades must still be profitable (because the rest are just copies) and so either the signal provider is unusually skilled at placing trades, in which case I cannot understand why they would want to sell their system for $20, or it means that they are somehow able to post results retrospectively after the outcome of the trade is known, and I dont think MQL5's platform allows someone to do that.
Id be interested to hear your thoughts. I am not claiming that they are definitely scammers, and I am not claiming that they definitely arent - their results certainly seem too good to be true but surely the MQL5 administrators would know that a signal provider is "up to something" if they have multiple accounts waiting to filter it down to the one that gives good results?
Apologies if my post doesnt make sense!
It's easy to fake the statistics, especially with cent accounts. Your observations are correct! Everybody can set up a series of accounts and choose the best one to be published.
But there is one very important thing to consider when you evaluate an SP:
4) Difference between "Growth" tab and "Equity" tab.
I can have a seemingly excellent system (no cent account), which has 40+ weeks old.
But if I load it into MQL5, today???
There is no way to know the real (previous) statistics about the drawdown (the most important parameter in my view).
I dare you to take most of the top SP here and don't overlook these discrepancies.
Suddenly, the monthly return decreases and the drawndown increases. Almost always!
Starting from the most followed SP at the moment...
This is a clear example of.
Age: 12 weeks
Equity age: 1,5 weeks (from $10k to $10,2K; real ROI = 2% out of 10 days vs nearly 35% weekly avg.)
What has happened in the other weeks where it was not possible to monitor the system?
It might also have been a 99% of drawndown.
Not given to Know!
Thanks for your reply Mirko,
Im still not sure I understand how the signal provider is able to manipulate their equity graph. How can MQL5 claim that they have been posting real trades for 12 weeks but only allow them to post 7 days of equity information?
Surely if MQL5 is logging real trades, then it will have to log both and there is no way for the SP to cheat?
As an example, suppose I have been testing a system on my real money, home account on MT4 for the past 50 weeks, and its doing really really well. If I was to create a signal today to broadcast my trades, is it not correct that MQL5 would NOT let me upload the historical trades as proof of my signal (because I could have manipulated them) and actually my signal would start reporting from "trade 1" today and I would have to effectively build up my track record on this site?
Apologies if I am being a bit slow!
No manipulation of. Statistics missed due to upload occurred later.
MQL5 starts monitoring equity when have a way to monitor the system.
But if you will use hedging-grid and/or martingale and/or (especially) 100% winrate system ... There is no way to keep track of the real drawndown outside real-time track monitoring.
Ultimately, due to lack of all the data, mql will consider only closed positions in order to establish the drawdown.
Aha, I think Im with you now!
So the key point is that only closed trades can be tracked by MQL5 and therefore only closed trades ever feature in MQL5's equity, balance, etc curves. So thats why the SPs will use cent accounts - because its very cheap to leave positions open for a long time because one can wear the losing trade for a long time.
Fortunately I now have a live tracker so I will be able to record all trades and real draw down for any signal and hopefully will separate the chaff from the wheat! Ill keep you posted with results :)
Thank you again for your help and patience Mirko!
Providing that the system is not monitored by mql.
Once uploaded even open positions (floating or not) are computed to determine the "true" drawndown.
Thus one or more positions that catch up a drawndown are recorded (even though them are recovered and closed in positive) and the relating data are (with a reasonable degree of certainty) reliable.
SP can no longer hide :)
My pleasure, Paul.
Have a nice day.
I advise that if the signal make a negative performance or no any trades in a month, subscribing fee should be returned for that month.