In the classical sense, earnings on the sale of signals represent social trading (LAMM accounts). That is, a service in which the investor connects to the trader’s account and automatically copies the signals (opening and closing of transactions) to his account. These are free trading signals, although they can be called such conditionally.
Where to find free trading signals and how to make money provider
There are several options for earning a trader on the supply of signals and social trading among them is the main one. The following options are possible:
- Social trading broker. This service offered by the broker itself is not available for all companies. Its advantage is that reputation is important to a broker, so it is likely that the most obvious fraudulent accounts are blocked. This is partly due to verification. On the other hand, in comparison with the platforms, there is less choice of traders for the investor.
- ZuluTrade. Social trading platform, which unites more than 10 brokers. Earnings platform is a commission that is deducted from the trader’s profits. In other words, the trader’s profit is divided into the investor, the trader himself and the platform. Traders are not controlled, because in the ranking there are a lot of “mergers”.
- MQL Multipurpose MT4 Developer Platform, which also offers social trading as a separate service. You can connect to it by creating an account in the MQL5 community and linking it with MT4 / MT5 in the terminal settings. Here the rating is under more strict control. Trading signals are free, but you will have to pay a fixed amount for the subscription – from $ 30-50. US for each trader.
In addition to social trading, the signal provider has several other opportunities to make money selling signals:
- Create your own channel (pages on social networks) with an attached script for automatically sending signals to subscribers. The script can be ordered on freelance exchanges. The option is suitable for those who do not trust broker ratings and know how to form their target audience. The idea is only suitable for medium and long-term strategies.
- Work for a single company. There are companies that specialize in selling signals (for example, signalator.com) and they are interested in professional traders, whose signals can be subscribed to.
- Connection to mediation service. This is a hybrid of social trading platform and copying signals from a broker. For example, the service mydigitrade.ru, which works with more than 10 brokers, offers to join it as a signal provider. The service itself receives a commission from partner brokers, which is partially ready to share with the provider. The more accurate the signals, the more interested traders and the more the broker’s earnings on the spread. The investor himself pays nothing (the trading signals are free), since the entire commission is already incorporated in the spread. The trader can receive compensation up to 50%.
Each of the above options has its advantages for both the investor and the trader. Free trading signals are almost always available only after a one-time subscription fee, although there are exceptions. How much a subscription pays off is a rhetorical question, because social trading is more popular among investors. And for traders, individual sending of signals is more popular. And which option do you think is best?