ForexNewsNow - MetaQuotes Software Corp, the venture that is the creator of the renowned MetaTrader 5 online trading platform has just recently announced that it had developed a new signal trading feature. The new feature will from now on be a built-in element of the popular MetaTrader 5 trading platform.
MetaTrader 5 Adds Trading Signals Feature
Mirror trading and signal trading is becoming increasingly popular. The concept that newcomers but even experts are given the opportunity to copy the actions of highly successful traders has already attracted a lot of following. So far mirror trading was only possible using various third party services.
From now on this will be possible using the popular MetaTrader 5 platform. MetaTrader 5 is the most advanced online trading platform and is being used by most of the brokers available on the market. The new Trading Signals feature will allow traders to automatically mirror the trades of very successful traders, so called signal providers.
In order to allow MetaTrader 5 to support this service, MetaQuotes Software Corp has introduced a new cloud Signal Server. This will monitor the accounts of signal providers and will send their trading signals to subscribers of the service in real time.
How to Use the New Trading Signals Service?
Very successful traders are given the opportunity to become so-called signal providers. The accounts of signal providers will be monitored by the Cloud Signal Sever and the actions taken by these people will be transmitted to subscribers. Signal providers will receive extra revenue on their successful trades.
In order for signal providers to begin using this service they will have to register on the MetaQuotes-owned www.mql5.com website. Here they will have to submit their account details so that the Signal Server will be able to follow them.
Traders who wish to profit from this service and receive live feeds of trades executed by signal providers will also have to register on this website. Traders are also required to deposit some money in their accounts. After this they will have to specify their account details in the MetaTrader 5 terminal in order to be able to begin following various signal providers.
In order to allow MetaTrader 5 to execute mirror trading operations, traders will have to remember to keep their MetaTrader 5 terminal on. MetaQuotes has indicated that the upcoming version of the service will not require keeping the terminal open.
The new service has also resulted in an upgrade of the regular MetaTrader 5 terminal. The platform now features a new trading signals display that will allow traders to find info about the earning power and efficiency of the available signal providers.
About MetaQuotes and MetaTrader 5
MetaQuotes Software Corp. is a major online trading technology developer. The venture has developed the world-famous MetaTrader online trading platform series that are at this moment being used by more than 500 individual online brokers and banks.
The MetaTrader 5 is the newest addition to the company’s portfolio. The platform was officially introduced on June 1st 2010 and since then it has been adopted by a multitude of brokers and banks. The MT 5 is regarded as the most advanced online trading platform on the market.