Daily Trading Alerts
FxPremiere Group sends out Daily Trading Alerts for major and minor currency pairs, including Gold, Oil and Cryptocurrency. As the beginning of 2018 continues. FxPremiere Group.
How forex signals help people make money without trading themselves
Forex signals were invented to simplify traders’ life and help people make money without actuating trading themselves.
Why use fx signals trading?
FxPremiere offers up to 10 signals per day.
Who are forex signals providers?
Forex signal provider is a trader who trades on his own live or demo account and sends the same forex signals online to his followers. In most cases this process is automated and takes literally no time. The signal provider doesn’t have to do anything manually to send forex signals indicator to his copiers. With a wide variety of forex signals services available today it is important to learn how signal providers are selected and ranked. There are a lot of platforms that allow anyone to register and start selling signals without any preliminary verification of traders experience, knowledge or ability to manage risks.
Free forex signals
The best part about copy trading through FxPremiere is that it offers forex daily signals free of charge. We get compensation from spreads, brokers normally charge their clients, at no extra cost to our traders. Large part of company revenue from supported brokers is shared with strategy providers. This doesn’t cost anything to the trader, as he would have to pay commission to broker anyway. On a plus side, several of our partner brokers have very low spreads (starting from 1.2 pip on EUR/USD).
How to find a good signal provider
At FxPremiere all signal providers are ranked based on our proprietary algorithm, which takes into account profitability, volatility, maturity, drawdowns frequency and recovery periods. Strategies with optimal risk/reward ratio are listed first.
The FxPremiere Group allows followers to allocate only part of portfolio to a strategy, our wizard can make optimal decision automatically by analyzing risk and profitability of your selected strategies.
Paid forex signals service
Many forex signals service charge users a monthly fee for being a member of their platform plus a subscription fee for each forex signal a receiver is subscribed to. In this case signal provider determines a fee he wants to charge for forex signals buy sell orders. The fee charged by a forex signals real time providers quite often depends on their popularity and profitability. Reliable and profitable traders usually set higher fees for their service and can be quite expensive.
Forex signals via email or sms VS auto trade copying
Forex signals can be sent to users via variety of channels from email subscriptions or text messages. In auto trade copying the signals are copied faster and don’t require any action from a signal receiver.
Forex signal demo
Both providers and receivers can try FxPremiere Group Forex signals service for only £37 per month — the platform allows forex signal demo accounts. Forex signal demo is a convenient way to check whether forex signals online free you up from the constantly monitoring the market and help you generate solid passive income. A lot of users have reported that using forex daily signals free up on average 4.5 hours a day for them to do things they like.
What is social trading and how does it work
Social trading is one of the fastest growing trends on Forex, stock and other markets. But despite a growing number of social trading networks there are still a lot of traders wandering “What is social trading? And why is it so popular?”. People who have never tried social trading before may be nervous at first and not sure whether this activity is worth their time. But once they learn what social trading is and which benefits it offers many opt for joining social trading or copy trading network.
Nature of social trading
Social trading network works very similar to a regular social network, with the difference that on a trading network instead people share trading results with others instead of selfies and lunch photos. An opportunity to copy trades of other users is an important feature of social trading platforms. When you find a successful trader with suitable investment style you can choose to follow his strategy and all open trades will be automatically copied into your account. Unlike hiring money manager in social trading you don’t have to give access to your account or disclose any personal information to the person you copy. And if you are successful as trader you may get additional income by becoming a signal provider and selling your strategy to others (A Complete Guide to Using Forex Signals). A lot of people prefer social trading for it’s open concept, it is easy for a user to join and start making money by copying profitable strategies, and it is also easy for a signal provider to join and find signal receivers. Another benefit of social trading is an opportunity to interact with other traders, watch trading results of other people and discuss situation on the market in real-time.
How does social trading work
Signal providers on most social trading networks receive compensation for providing their services to others. The compensation can be a fixed monthly fee, a spread from volume of assets under management or a small percentage of their followers profit. Social trading networks, such as FxPremiere Group.
Because all signal providers in a social trading network are obliged to disclose all of their trades you can be confident that you’re selecting actually profitable strategy and be aware of real financial results – another benefit of social trading compared to money manager. The exact stats available for a follower to analyse before copying someone depend on a platform. At FxPremiere group we disclose full list of trades, including currently opened ones, along with profits, maximum drawdowns and other details, to make sure our users have the most complete and actual results. For a novice trader, just starting to learn what social trading is, these details can also be a great learning source and will help him become more successful at independent trading over time. Some social trading networks prefer to hide open trades from statistics or not to disclose the list of trades at all, but this may affect accuracy of profit/risk ratio and drawdowns.
Advantages of social trading
Social trading offers significant advantages such as
- Additional income for successful traders from selling their trading signals
- Passive income for copiers from following successful traders
- Opportunity to follow other peoples trading results in real-time
- Open concept, where data on signal provider trades is disclosed automatically and losses can not be deliberately hidden
- Space for communication with other traders and listening to their forecasts and opinion
Disadvantages of social trading
Open nature of social trading has it’s own disadvantages. At most social trading platforms signal providers are not pre-screened for risks and experience, so a follower needs to be very careful when deciding which strategy to follow. Some followers also complain about trades being copied with high slippage (this process is automated and it may happen because of internet connection or technical errors). Slippage may lead to different trading results from the results of a strategy provider. However, FxPremiere has removed this risk completely by letting a follower set a maximum acceptable slippage —
Social trading regulation
Social trading is still a fairly new concept and a lot of countries are yet to develop their final regulations. However, unlike some riskier assets, social trading and copy trading is considered an acceptable investing activity and is acknowledged by most regulators:
Social trading UK – The UK Financial Conduct authority has issued recommendations where it classifies automated copy trading and mirror trading as portfolio management. Social trading platforms must follow regulatory obligations for licensed portfolio managers. However, this only refers to social trading networks; signal providers are not obliged to carry a license. Therefore social trading is absolutely legal for UK signal providers and followers.
Social trading Europe – European legislation treats social trading and copy trading very similar to UK. The platforms providing social trading services must abide the same rules as portfolio managers.
Social trading Australia – After monitoring the market for two years Australian financial regulator ASIC has come up with clear guidance on copy trading services, that were published on August 30, 2016. The general conclusion stated that ASIC supports development of a healthy and robust digital advice market in Australia.
Try reading: How to Find a Reliable Forex Broker
Social Trading vs Copy Trading
Social trading often goes hand in hand with copy trading. The key difference is that social trading focuses on opportunities to discuss market situation and interact with other users — at some platforms traders can send friend requests and exchange direct messages as in a regular social network. Copy Trading lets users follow other traders and copy their trades (copying process is completed automatically). All social trading networks offer copy trading services, as this is considered the main advantage of social trading.
What is mirror trading
Mirror trading is another term often used to describe copy trading. All trades executed by a signal provider are mirrored to his followers accounts. There is no difference between mirror trading and copy trading, both describe the same process.
What is mirror trading and how to copy trader forex
Copy trading forex networks are becoming more popular than ever. Mirror trading and social networking among forex traders are projected to be one of the fastest growing trends in 2017. However, concept of copy trading is still unfamiliar for many online traders out there. How to copy trade forex? What are mirror trading networks? Are social trading networks different from copy trading or mirror trading networks? Are are all of them different from Facebook? Is it possible to make money via global copy trade forex network? This article provides answers to some frequently asked questions.
Does copy trading mean the same as social trading?
Copy trading is probably the most important part of social trading. Successful traders disclose their strategies and let other users automatically copy their trades. Strategy providers receive compensation for their services while followers increase their profit without investing extra time into trading and market analysis themselves. Copiers receive trading signals and the same trades are automatically executed on their accounts. The majority of social trading networks today offer copy trading services, so these terms are often used interchangeably.
What is mirror trading?
Mirror trading is another synonym to copy trading. It means that a follower mirrors the trades of selected trading provider.
Why choose copy trading over generic social networking?
If you main goal is to chat with other traders and “stay in the loop”, than joining a forex trading group on Facebook or an industry specific forum might be enough. But if you are trying to integrate socialisation into trading, a generic social network will not help. Social trading networks allow users to copy trade forex or manage their portfolios directly through them, and in some cases to see how other users really manage their accounts, not what they claim on forums. When a trader selects to go public or become a strategy provider, all trading data from his account is automatically shared with others (this doesn’t reflect personal data. Things such as name or contact information are kept private).
Newbie traders may follow the right forex trading strategies
How do mirror trading forex networks make money?
All social networks can be divided into two large categories:
- Independent copy trading platforms
- Brokerages with mirror trading functions
Why join international copy trading network?
People come to mirror trading for different reasons. Some are looking to increase their profit, others just want to have their trading ideas backed by community. If you are just starting with fx, copy trading can provide a perfect learning experience. Copy trading scheme for success is simple: by following successful traders you see how they trade and learn from the best in real time without paying for private consulting. Watching how experienced market participants manage their accounts is invaluable for a novice.
Mirror trading scheme for making money
Anyone who is successful at trading can further increase their income by becoming a strategy provider. Strategy providers get paid for letting followers use their trading signals and copy their trades.
So what are the advantages to using live forex signals as opposed to either collecting forex tips or doing your own research you ask?
Who are social traders?
The term social trader can refer to any user of a social trading network, whether they have open profiles and share their strategy with others or hide their personal information and copy forex strategies.
When copy trading was invented?
Mirror trading forex is a phenomenon of 21st century. Back in the 19th century people used to rely primarily on fundamental analysis. Things started to change after Charles Dow introduced his theory to the market. Ideas of a reputable Wall Street trader and like-minded people led to boom of the technical analysis. By the end of 20th century around 80% of market operations were executed by algorithms, not humans. At that time a lot of traders overestimated the potential of robots and lost money by giving machines full control over their accounts. No matter how sophisticated the algorithm is, a forex robot can’t perform well for a long time without human supervision.