Signal Trade Copiers

[AnotherBrian]

First, a link to a description of what a signal copier service does.

http://www.articlesnatch.com/Article/Wh ... er/3536715

Briefly, a web site where traders send their trades in real time, and other traders choose to copy the trades. The provider gets paid (many methods exist) and the user pays (also many different methods). Both are connected using Empty4 although there are many other platforms available. We will focus on the Empty4 services.

A list of sites:

FX Junction
Zulutrade
Tradency
Collective2
Rentasignal
Currensee
ZipSignals.


MyFxBook Reviews
http://www.myfxbook.com/reviews/signal-providers/13,1

If you know of another, let me know and I'll add it to this post.

I'm currently looking for a service where I would be the signal provider. I'm trying FX Junction. The way the different services pay providers or charge user is all over the map. I'm hoping to have time one day to search out this data and post it here. If you have some info, post it along with any comments as a user of the web site.

Current links on this forum to other discussions
http://www.stevehopwoodforex.com/phpBB3 ... t=tradency
http://www.stevehopwoodforex.com/phpBB3 ... ?f=6&t=219
http://www.stevehopwoodforex.com/phpBB3 ... ?f=6&t=204

Payment to Signal Providers;
FXJunction - https://www.fxjunction.com/autocopy#more&pricing

Cost to Signal Subscribers;
FX Junction - https://www.fxjunction.com/autocopy#more&pricing

[AnotherBrian]

Another way to copy signals is using something called a PAMM account.

"A percent allocation management module, or PAMM, which may also be referred to as percent allocation money management, describes a software application used predominantly by foreign exchange market (forex) brokers to allow their clients to attach money to a specific trader managing one or more accounts appointed on the basis of a limited power of attorney. PAMM solution allows the trader on one trading platform to manage simultaneously unlimited quantity of managed accounts. Depending on the size of the deposit each managed account has its own ratio in PAMM. Trader's activity results (trades, profit and loss) are allocated between managed accounts according to the ratio."

For the signal provider, the audience would be limited to those who have accounts at the broker.
The advantage for the provider is that the provider would share in more of the profit. I would dare to guess that there are probably more quality traders using this method, but I could be wrong. I'm just starting to learn about all these trade copier methods.

[garyfritz]

Yes, I believe you'd find most pro FX money managers using PAMM. It's similar to the mechanism we used in our commodity fund. I'd place one order, it got filled at whatever prices (50 e-minis at X, 200 at Y, 150 at Z), and all clients would get fills reported at the same *average* price. Simplified bookkeeping tremendously. I don't know if PAMM accounts handle average fills like that or if everybody just gets filled where they get filled.

In the US you'd have to get registered as a CTA if you have more than 15 clients; not sure about Canada.

[fernand]

From the ones listed i know only of zulutrade , what are the advantages of other social forex platforms over zulutrade?

[POH]

I've used tradency, only demo, but it seemed to do the job. Interface could be slightly better.