Metaquotes has just announced that it is adapting its Trading Signals service for its MetaTrader 4 product. This follows the technology provider’s launch of the Trading Signals product on its MetaTrader 5 platform earlier this month.
At the time, we noted that new feature aimed at the end user clients was part of Metaquotes continuing wave of enhancements to the platform to increase user adoption for the three year old system. Specifically, the addition of trading signals would put MT5 as a direct competitor to other signal and mirror trading products like ZuluTrade and Tradency.
As such, by integrating the service to MT4, Metaquotes appears to be giving brokers one less reason to start providing MT5. Nonetheless, with its massive MT4 user base, today’s news should speed up the adoption of Metaquotes signal network and thereby create a much stronger competitor to existing trading signal copy providers. How the new service will compare to existing products remains to be seen.
Specifically, technology providers such as Tradency and Zulutrade have a much larger head start in perfecting the issues that pertain to handling a trading network, such as cross broker execution, signal performance monitoring and handling customer support. Therefore, Metaquotes new signals will pin its broad distribution vs the niche experience from MT4’s third party providers.
In this regard, after concentrating its efforts on producing add-on products such as a feed integration bridge for MT5 and mobile platforms, Metaquotes has been quickly moving on the terrain of the third party ecosystem that supports the MetaTrader platform. Looking ahead, it will be interesting to see how Metaquote’s partners which are also becoming its competitors will act to differentiate themselves from Metaquote’s new products.
Trading Signals Introduced in MetaTrader 4
MetaTrader 5 received trading signals a short time ago. Now, it is the turn of MetaTrader 4 to accept this innovative feature. MetaTrader 4 users will be able to copy trading operations of their signals providers very soon.
You can already examine several test signals on MQL5.com website. The new MetaTrader 4 terminal build with trading signals will be released by the end of the week, and you will be able to try this new feature. The system will work the same way: providers will generate trading signals, while traders will be able to copy them automatically on their accounts.
The following conditions should be met for that:
1. the launched terminal
2. MQL5.com account
3. account data specified in the terminal
4. subscription to one of the trading signals
After all the conditions are met, accounts will be synchronized and all further trading operations of a signals provider will appear on your account almost instantly. There will be no contracts or any other paperwork. It is not even necessary for a subscriber and a provider to work on the same trade server.
On the other hand, you can become a signals provider yourself and earn additional profit. Register as a signals provider and specify your trading account to allow any trader to subscribe to your signals. After one testing month, profitable providers will become available for paid subscription and you will be able to increase your profit.
Follow the news and use MetaTrader 4 trading signals.