PLEASE ALLOW DEMO TRADERS IN AUTO TRADE. Diskussion

@paradisefx

Please don't type in all caps, it actually hurts to read :)

Myfxbook is set up there Forex signal providing service as a professional, trustworthy place to search for Forex strategies.

They have deliberately NOT included DEMO traders in Autotrade as this undermines there philosophy behind the setup of Autotrade and does little to separate them from other similar Signal Providing websites.

Part of the problem with allowing Demo account is that it is relatively easy to circumvent the signal provider rules to create unrealistic and unattainable strategies. For example, even though it would be against the rules of the website (and my own morals) there is nothing stopping me from creating 1000 demo accounts with a 1000 different emails. I could then mirror all trades i have through at least two accounts, meaning at least one account would never lose a trade and would be in massive profit.

Also DEMO accounts do not, and will never react the same way as REAL accounts. Demo accounts do not take into account latency issues, spread gaps during news times etc... This means that your DEMO account that is perfoming admirably could cause people who are following it with REAL accounts to lose money due to real world effects.

It is due to both of these reasons and many others that myfxbook has decided not to allow DEMO accounts to trade in the same manner as REAL accounts on Autotrade. It undermines the trust that signal followers have with the signal providers and relfects poorly on the website hosting the signal providing service and the brokers as well, to some extent.

I strongly support myfxbook's decision on this manner and quite frankly don't see them changing there mind, ever. It underlies the entire Autotrade philosophy and is an Integral part of all there marketing campaigns.

Apologies for the massive wall of text, but I wanted to properly explain what I believe to be there reasoning on the subject as well as my thoughts.