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Suggestions for the signal

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Gary Sharp
303
Gary Sharp 2012.11.14 02:04 

(1) Risk setting to allow signal receiver to set own risk factor / lot size

(2) Ignore existing open trades at signal sign-up, and only process new signals

(3) Ability to set subscription fee at percentage of profit

(4) Website widgets to promote signal services

(5) Credit card deposit AND withdrawal

(6) Scalable Metaquotes fees based on turnover 

phi nuts
2184
phi nuts 2012.11.14 03:00  
myfxpt:

(1) Risk setting to allow signal receiver to set own risk factor / lot size

(2) Ignore existing open trades at signal sign-up, and only process new signals

(3) Ability to set subscription fee at percentage of profit

(4) Website widgets to promote signal services

(5) Credit card deposit AND withdrawal

(6) Scalable Metaquotes fees based on turnover 

(3) Who's profit, the receiver or the provider ? 

(5) Currently Credit Card is accepted using Paypal.

(6) Please elaborate more, give example. 

Gary Sharp
303
Gary Sharp 2012.11.14 04:27  

(3) Ability for the provider to opt between a flat subscription fee or percentage of profit generated for the receiver.

(5) I know, and I have used PayPal for the past 10-years or so, but they change their policies so often it becomes confusing. Would much prefer two-way credit card option.

(6) Your current fee is 30% of the monthly subscription a provider charges a receiver. Maybe there is scope to scale this 30% according to total subscription revenue generated by a provider, i.e. $0 - $1,000 = 30% / $1,001 - $5,000 = 25% / $5,001 - $25,000 = 20% / $25,001 plus = 15%

Gary Sharp
303
Gary Sharp 2012.11.14 04:30  

By the way, the idea of Metaquotes getting behind a signal delivery concept is to me, and I am sure the majority, exciting news. Best wishes and support for this concept.

Peter Atkinson-Crawford
4702
Peter Atkinson-Crawford 2012.11.14 04:31  

Those are some very good ideas.

I really like points 1) and 2) 

phi nuts
2184
phi nuts 2012.11.14 05:20  
myfxpt:

(3) Ability for the provider to opt between a flat subscription fee or percentage of profit generated for the receiver.

(5) I know, and I have used PayPal for the past 10-years or so, but they change their policies so often it becomes confusing. Would much prefer two-way credit card option.

(6) Your current fee is 30% of the monthly subscription a provider charges a receiver. Maybe there is scope to scale this 30% according to total subscription revenue generated by a provider, i.e. $0 - $1,000 = 30% / $1,001 - $5,000 = 25% / $5,001 - $25,000 = 20% / $25,001 plus = 15%

(3) Some receiver don't like flat subscription, especially if the signal is a loser one.

Some provider prefer percentage based on provider, not receiver. The receiver can cheat by trading small money and copy-trade the signal to different account with bigger money, some even re-selling the signal, therefore the provider get small income from selling signal on flat subscription, and there's no way we know exactly how much money, the receiver trade the signal. Here, for example, your fellow Aussie, and a Chinese programmer working together https://www.mql5.com/en/forum/8621

If based on provider percentage, it should be flat - for example - for the first 3 or 6 months, then after that based on percentage of profitable pips. That way a lot of users willing to provide signal..

I know that is expensive, but we can't have Ferrari at the price of Honda :D.

(5). Try to use WebMoney, Google "Buy and Sell WebMoney", and you'll probably find local that accept credit card without Pay pal.  

(6). I leave that to MetaQuotes. 

Signals service can be used on any live MT5 account
Signals service can be used on any live MT5 account
  • www.mql5.com
Signals service can be used on any live MT5 account.
Gary Sharp
303
Gary Sharp 2012.11.14 06:49  
phi.nuts:

(3) Some receiver don't like flat subscription, especially if the signal is a loser one.

Some provider prefer percentage based on provider, not receiver. The receiver can cheat by trading small money and copy-trade the signal to different account with bigger money, some even re-selling the signal, therefore the provider get small income from selling signal on flat subscription, and there's no way we know exactly how much money, the receiver trade the signal. Here, for example, your fellow Aussie, and a Chinese programmer working together https://www.mql5.com/en/forum/8621

If based on provider percentage, it should be flat - for example - for the first 3 or 6 months, then after that based on percentage of profitable pips. That way a lot of users willing to provide signal..

I know that is expensive, but we can't have Ferrari at the price of Honda :D.

(5). Try to use WebMoney, Google "Buy and Sell WebMoney", and you'll probably find local that accept credit card without Pay pal.  

(6). I leave that to MetaQuotes. 

Moses Olawale  Ajayi
2398
Moses Olawale Ajayi 2012.11.14 10:58  
I want MQL5.COM to accept deposit and withdrawal through Liberty Reserve also.
Miguelito Yap
640
Miguelito Yap 2013.01.06 07:50  

I'm happy with how I want to charge now.  This is what I have on my signal.

"Subscription price will be adjusted every 3 months in Jan, Apr, Jul and Oct. It will be 3% of my profits of the past 3 months. If I make $400 this quarter, the fee for the following quarter will be $400 X 3% = 12 credits. Minimum fee is 10 credits."

One last thing I wish for.  I wish MetaQuotes give us kickback on generated Signal fee to them.  Their 20% cut is high plus I have to give another 2% for sending to PayPal.

Miguelito Yap
640
Miguelito Yap 2013.01.06 09:12  

I just noticed the maximum daily withdrawal allowed is only $500.  That's too small for a Signal provider. Imagine, the MT market is 500,000 users.  If a provider charges $10 and he get 5000 subscription, that's $50,000 per month.  With the current withdrawal maximum he can only get $15,000 at month.  It will take forever to get his money.  MetaQuotes is not thinking big here.  The maxinum should be increase, at least $10,000 a day.

Achmad Hidayat
14766
Achmad Hidayat 2013.01.06 10:29  
myfxpt:

(1) Risk setting to allow signal receiver to set own risk factor / lot size

(2) Ignore existing open trades at signal sign-up, and only process new signals

(3) Ability to set subscription fee at percentage of profit

(4) Website widgets to promote signal services

(5) Credit card deposit AND withdrawal

(6) Scalable Metaquotes fees based on turnover 

I think (2) has been included in option for first time subscribe.
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