Rules of Using the Signals Service
- The "Signals" section on MQL5.com is designed to monitor trading results and transmit trading signals based on buy/sell transactions performed in the trading account of the Signals Provider.
- Subscription can be sold via the "Signals" service only by mql5.com registered Users approved as Sellers who accepted and agreed to be bound by the Signals Service Distribution Agreement on www.mql5.com.
- The status of Seller is granted to the User following a specific registration procedure.
- Monitoring of trading results is a periodic obtaining of data on the trading account status and buy/sell transactions performed in it as per trading strategy. Trading can either be performed manually by a trader or automatically without any person involved, using trading robots (Expert Advisors). Monitoring allows to document trading results and provides trade statistics to everyone in a visual form as reports and charts.
- Signals Source is a trading account in which trading operations are monitored to be publicly transmitted. For the sake of convenience, the Signals Source is hereinafter called the Signal.
- Trading Signal is an act of performing a buy or sell transaction in the Signal's trading account.
- Transmission of a trading signal is the sending of messages to Subscribers about the new Trading Signal.
- Signals Provider is a registered User of the MQL5.community who granted access to his trading account in the "Signals" service as a Signal.
- Signals Provider is authorized to set up a fee-based subscription to a Signal, only provided that he was approved as a Seller. The status as a Seller is not required for free subscriptions.
Every Provider can set up several Signals, subject to the following rule: "One trading account - one Signal".
- Subscription is an offer to the public to receive Trading Signals from a certain Signal. The purpose of the Subscription is to copy trading operations of the Signal into the Subscriber's trading account. The decision to subscribe to a particular Signal is taken independently by every User based on the monitoring of trading results provided for all available Signals. Only the registered MQL5.community Users are allowed to subscribe.
- The Subscription to the Signals can be offered for a fee or free of charge. Subscription fees shall be paid via the MQL5.community Payment System.
- Every User who has an MQL5.community account has the right to create a free Signal, i.e. a free subscription Signal.
- Subscriber is a User who has subscribed to receive Trading Signals via the "Signals" service. Every User can subscribe to several Signals. For every trading account, the Subscription can be made to one Signal only.
- The Subscription implies that the Subscriber understands all risks involved and takes full responsibility for copying trading operations of others in his own trading account. Further, the Subscriber confirms that he has the right to perform trading operations in the trading account which is going to be used for the implementation of Trading Signals.
- The Administration has the right to remove any Signal from the "Signals" service without giving any reason.
- The "Signals" service Administration does not guarantee the profitability of the Signals offered.
- Advertising of third party services in the Signal's description in any form whatsoever is not allowed and will result in such Signal being blocked. In case of repeated non-compliance with this rule, Provider's access to MQL5.com will be subject to blocking.
II. Signals Providers
- Any User who has an MQL5.community account can become a Signals Provider. A fee-based subscription can only be set up after a successful registration as a Seller.
- The Administration checks the Seller's identity documents. Usually 10 working days are given for checking a User's application to register as a Seller, however the check can be completed sooner.
- In case discrepancies or errors are detected during the check, an application is rejected by the Administration with a reason for rejection specified. A new check of a corrected application is performed according to regular conditions stipulated in paragraph II.2.
- To confirm their identity, users need to provide a photograph of one of the following documents:
- passport (double-page spread);
- ID card or identity certificate (front side);
- driver's license (front side).
- Document photographs should meet the following requirements:
- photographs should be in color;
- photographs should be uncut — all edges of a document should be visible;
- a document should occupy more than 50% of the photograph area;
- a photograph should be clear; a text should be legible and easy to read;
- editing photographs using image-processing applications is not allowed.
- The Administration may reject the registration as a Seller without giving any reason.
- The Administration may, at any time, revoke the status as a Seller without giving any reason.
- Upon registration as a Seller all data shall be provided in English.
- Following the registration, the Seller's name and surname become available to the public in his Profile.
- The Administration will not disclose any additional personal data regarding the Seller to any third parties, except as requested by the relevant government agencies authorized to receive such information.
- The Seller shall provide true information about himself upon registration.
- The Signal Provider shall not offer paid Trading Signals if he is a
representative, employee or affiliate of a brokerage company.
- The Signals Provider shall make every effort for a failure free transmission of his Trading Signals: he shall ensure access to his trading account by means of an investor password and shall not change the investor password throughout the entire Subscription period.
- The Signals Provider shall give an advance one week notice to the "Signals" service Administration of his intention to terminate the operation of the Signal.
- Each Provider can view the list of his Signals in "My Signals" section on the "Signals" service page of the MQL5.com website.
- The Provider shall not use spam to promote Signals both on www.mql5.com website and via third-party services. Upon detection of spam, the Provider's account will be blocked and all his or her Signals will be removed.
III. Setting Up a Signal and a Relevant Subscription
- Every User can become a Signals Provider by setting up his own Signal.
- A Signal can be set up for MetaTrader 4 and MetaTrader 5 trading accounts.
- Only one Signal can be set up with respect to one trading account. The account that currently is subscribed to another Signal cannot be used to create a Signal.
- A Signal on an account with a leverage exceeding 1:500 is available neither for a paid nor for a free subscription.
- Once a new Signal is successfully set up, the entire trading history is requested from the trading account in which the trading operations will be monitored, in order to collect and provide statistics to all visitors of the "Signals" service.
- It is not allowed to set up a new Signal based on any existing Signal in the "Signals" service, regardless of the fact to whom such existing Signal belongs and whether it is offered for a fee or free of charge. If such violation is determined to have occurred, the Signal copy will be deleted and the MQL5.com account of the violating Provider blocked.
- Signals become available for subscription immediately after being set up and successfully tested for possible connection to the trading account of the Signal.
- For display in the "Signals" service and the corresponding tab of the MetaTrader terminal, the following information needs to be specified when setting up a Signal:
- Signal name;
- trading account number from which trading operations will be transmitted;
- investor password to the trading account. This password shall not be changed throughout the entire period of the Signal operation;
- trade server on which the trading account has been opened;
- a month’s Subscription fee for a Signal based on a real account.
- Signal name shall start with a capital letter and can only contain Latin characters, numbers and spaces.
- Signals based on real accounts are available only by paid Subscription; signals based on demo accounts can be received only by free Subscription.
- Provider may terminate the Signal operation through the standard procedure by giving a relevant notice to the "Signals" service Administration at least one week prior to the expiration of the current Subscription period. If the Signal does not have any Subscriber, the Signal will be removed immediately at the Provider's request.
- In case of early termination of the Signal operation, the payments received from Subscribers for the current Subscription period will not be credited to the Provider's account.
IV. Subscription to Signals
- Subscription to Signals shall be available to all Users who have an MQL5.com account.
- Real accounts cannot be subscribed to Signals based on demo ones. Any Signals created on trade accounts with a leverage exceeding 1:500 are not available for subscription.
- To purchase a fee-based Subscription to a Signal, your MQL5.community Payment System account shall have sufficient funds to cover the fee for the Subscription period selected.
- Free Subscription Signals shall be available to all MQL5.com registered Users.
- Subscription to a Signal can be performed only in MetaTrader platform. To copy signals, the trading platform must be always connected to the server using the account which is subscribed for the signals. The platform receives signals about trades performed on the Provider's account and automatically copies the deals to the subscriber account only if the platform is connected to the server.
- Subscription to a Signal is only available for the relevant MetaTrader platform account:
- for the MetaTrader 4 Client Terminal account, you can only subscribe to Signals from the MetaTrader 4 section,
- for the MetaTrader 5 Client Terminal account, you can only subscribe to Signals from the MetaTrader 5 section.
- One trading account can be subscribed to one Signal only.
- It is recommended that trading accounts of the Subscriber and Provider be on the same trade server and in the same group of accounts for trading services provided. This will help to minimize the risk of inability to execute buy/sell transactions based on Provider's Signals.
- All Subscription parameters shall be specified in the MetaTrader terminal settings:
- permission to copy Stop Loss and Take Profit levels,
- percentage of equity in the trading account to be used for execution of buy/sell trades based on the trade volumes of the Signals Source,
- allowable difference between the execution price and the price of the trade copied from the Signals Source within which Trading Signals will be implemented,
- minimum value of equity in the trading account at which the implementation of Trading Signals will stop and all positions will be closed.
- In the client terminal's showcase, a real account can only subscribe to Signals from real accounts and a demo account can only subscribe to Signals from demo accounts.
Trading account specified during Subscription cannot be changed later on. New subscription should be created to use another trading account.
- To subscribe for another Signal, the current valid Subscription is to be cancelled.
- You can suspend trading under the current Subscription whereby the Subscription will not be canceled and the fees applicable during the "freeze" period shall not be refunded. The "freeze" period cannot be carried over to the next Subscription period, i.e. it will not be taken into consideration when subscribing for a new period.
- An account previously subscribed to a Signal, can be used for creating its own Signal not earlier than a week after the subscription expiration. Resale or free retransmission of Trading Signals is prohibited.
- Preliminary synchronization is necessary to start executing trades in the Subscriber's account based on the Signals from the Signals Source.
- Synchronization may require the Subscriber’s decision in case when:
- there are pending orders in the Subscriber's trading account;
- there are open positions in the Subscriber's trading account that are not related to Trading Signals of the Signals Source selected,
- there is unrecorded profit on open positions in the trading account of the Signals Source which may suggest an adverse operation start for a Subscriber under less favorable terms.
- Synchronization attempts in the Subscriber's trading account will be repeated until successful.
- Subscriber may resort to forced synchronization if he agrees to start working under the Subscription immediately, without waiting for more favorable conditions in order to open positions based on the existing positions of the Signals Source.
- The fact of a successful synchronization is logged in the MetaTrader Client Terminal log.
- Execution of your own trades in the account which is subscribed to a Signal constitutes an interference and can lead to unpredictable results.
- All payments shall be made in the MQL5.com internal payment system, hereinafter called the Payment System. The Payment system account is created automatically for every MQL5.community user upon registration on MQL5.com.
- To subscribe to a selected Signals Source, the account shall have sufficient funds to cover the Subscription fee.
- Money can be deposited to the internal Payment System via CommerceGate,
WebMoney, PayPal, ePayments, NETTELLER and UnionPay. Earned money can
only be withdrawn via WebMoney, PayPal and ePayments.
- The Subscriber's account is automatically charged for the Subscription fee for the entire subscription period in advance upon subscribing.
- The Signal Provider automatically receives the Subscriber’s fee for using the Signals in a week upon the Subscription period expiration.
- The Signals Provider shall receive the payment less 20% commission retained by the "Signals" service.
- Paid subscription canceled by Subscriber is not refunded.
- If the transmission of the Signal is terminated by the Provider, the reserved Subscribers' funds shall not be transferred to the Provider's account.
- In case of any fraudulent activities and/or falsification of past trade results, the Provider's account will be blocked and funds received from the subscriptions will be returned to the buyers.
VI. Possible Risks and Disclaimer
- When subscribing to Signals, you unconditionally understand and accept all risks associated with the copying of trading operations of others in your trading account:
- No past trading successes of a selected Signals Source can guarantee future profits.
- Implementation of Signals/Failure to implement Signals can result in differences between your results and the results of the Signals Source.
- Differences in trading conditions in your trading account and in the account of the Signals Source can jeopardize the possibility of implementing trading signals.
- Communication failures can lead to missed Signals.
- The "Signals" service Administration does not take any responsibility for any suffered losses or short-received profit when using or being unable to use the Signals under Subscription.
- MQL5 Ltd is a technology provider and does not provide any financial advise. Users of the service process and transmit all their transactions through their brokers with whom they hold trading accounts. You have agreed that MQL5 LTD is not responsible for any investment decision made by you and indemnifying MQL5 LTD from any direct or indirect liability out of the use of this service.
- Any actions that threaten the operation of the service for other users.
- Interception, imitation or redirection of the communication protocols used as a part of mql5.com web site services regardless of the method of performing the above actions.
- Working with Signals service via a third party modified interface provided neither by MQL5 Ltd on www.mql5.com web site nor by MetaQuotes in its software.
- Development or use of means for fraud, modifiers, hacking tools, as well as any other third party software to modify Signals service operation.
- The use of any third party software that intercepts, collects or otherwise gathers information included in Signals service or transmitted through it.
- Using third-party accounts.
- Performing attacks on any of MQL5 Ltd or MetaQuotes servers, participation in such attacks or engaging in them, as well as other attempts to hinder the servers operation.
- Copying, selling, distribution, transmission or other actions directed to using the Signals for purposes other than intended, unless otherwise permitted.
- Using Signals to access, copy, transfer, transcode or retransmitting Signals in violation of any law or third party rights.
- Reproduction, copying, selling, exchange and reselling Signals service, unless otherwise permitted by a separate agreement with MQL5 Ltd.
- Any form of advertisement in Signals of third party services not related to MQL5.com.
- Using spam to promote Signals.
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