Forex Trading Resources & Tools: How To Subscribe To MQL Forex Signals With Brokers That Do Not Have Signal Tab

This guide presents solutions for traders who wish to subscribe to MQL's signal services but do not have the Signal Tab installed on their platform.

Metaquotes integrated some functionality like Signal Tab, Market, Code Base, e.t.c into MT4. However some MT4 Platform do not have the Signal Tab because some brokers stopped supporting it, and took it off due to reasons best know to them.

MQL has one of the largest auto signal services, which directly places trades on subscribers platform. They have about 3,670 trading signals available for subscription as at 30th April, 2014, while the community has grown to over 236,910 users as at May, 2014.

(02/06/2014) Update!!! HotForex has launched MQL Signal Services on their Trading Platform. Click here for more info or Open a HotForex Account and subscribe directly to MQL's Signal Services Providers.

If your platform does not have the Signals Tab or your broker does not support it then follow the steps below:

Open an account with a broker that supports signal trading from MQL. A demo account is sufficient. I recommend AxiTrader

Configure the demo account with a deposit higher than your original account size. For example if your account is $1,000.00 then use either $1,000.00 or $2,000.00 preferably on the demo account. The master account sometimes get depleted due to some uncontrollable factors so its better to increase the deposit on the master account and replenish it more often. The client has more filtering features to control and discard bad trades.

Configure the signal services in the demo account. See Axitrader Signals Guide

Select a signal service provider from the list of providers in the signals tab, or goto www.mql5.com to subscribe directly to a signal provider.

Download a Forex Copier Application. You will need this to copy signals from the demo account to your real account. I recommend Forex Copier, LTC Copier and Trade Copier Software

Install the Forex Copier Application to the server (master) and client (slave) platforms. The server platform will be the demo account which has the Signal Tab, while the client platform is your platform, which would copy the trades from the demo account platform.

When configuring the Forex Copier ensure that the following features are configured properly; Lot Multiplier, Risk Ratio, Lot Size, Pending Order Manipulation, Synchronization, Magic Number, News Feature, Reverse Trade, Filters.

Ensure you have subscribed to a signal provider before going to step 8. See picture below for a subscribed signal service on a master account.

Open the platform with the demo account, and attach the Forex Copier to a chart (preferably EURUSD). Please follow the instructions from the Forex Copier User Guide.

Wait for sometime for synchronization to take place. Usually if there is an ongoing trade the Forex Copier would require your confirmation to copy them or you can configure an automatic action.

Give sometime before opening the receiving platform (client) in order to enable trade synchronization to be sorted out in the master platform. This is necessary to guide against copying negative trades.

If step 1 to 12 is done correctly then trades would be copied from the master to the client whenever the signal provider places an order.

CAUTION AND TIPS

Do not use proxy internet connection, and do not turn off your platform rapidly.

I strongly recommend using a reliable VPS Provider to ensure 100% utilization of the trade signals so that you will not miss important signals when your computer is off or when you go offline.

40% Life Discount For All VPS Plans

The quality of your internet connection is crucial to how fast the signal trades are synchronized, copied, modified, and manipulated.

The quality of your computer system resources matters a lot in terms of the ability to handle speed, and processing (See: How To Fix Slow & Frequent Crashing Platforms).