Advertisement
Trader Compensation
Feb 03, 2017 at 07:54
1,613 Views
8 Replies
Member Since Jun 18, 2011
6 posts
Feb 03, 2017 at 07:54
When a trader has other traders copying/following his/her trades, how does the financial compensation work?
In everything give thanks...
Member Since Jan 31, 2017
9 posts
Feb 07, 2017 at 09:40
Hello Ok4XTrader,
That depends on which social networking platform a trader is using. For example in MQL5, there is a particular subscription cost that a trader has to pay for following a trader. And like in case of zulu trade, you can open up a live account through a broker only and when you open live account through broker, you pay additional cost either in form of spread or commission which is sent to zulu by that broker and then given to the traders who are being followed.
That depends on which social networking platform a trader is using. For example in MQL5, there is a particular subscription cost that a trader has to pay for following a trader. And like in case of zulu trade, you can open up a live account through a broker only and when you open live account through broker, you pay additional cost either in form of spread or commission which is sent to zulu by that broker and then given to the traders who are being followed.
Feb 07, 2017 at 10:06
Some pay X amount per round lot traded, subscription, % of spread, fixed cost per follower or combination of methods (eg. % of subscription + amount per lot). As hedgescalp says, it depends. Just read the terms of the system you choose, the information is usually contained within. Look out for catches too, like payment only made after X lots traded, minimum followers required before payment is activated, etc.
For every loss there should be at least an equal and opposite profit.
Feb 09, 2017 at 08:07
If you're wondering about their motivation to do so, here's my take on it:
- It's fun for the signal provider. Feeling that there are tens or hundreds of traders who trust the provider and remain subscribed because they are impressed by their trades is kinda cool.
- Extra stable income. They get to earn as much as they do from their trades and have a less risky source of income from their followers. Popular signal providers could earn as much as $10k-$30k per month from their subscribers.
- It's fun for the signal provider. Feeling that there are tens or hundreds of traders who trust the provider and remain subscribed because they are impressed by their trades is kinda cool.
- Extra stable income. They get to earn as much as they do from their trades and have a less risky source of income from their followers. Popular signal providers could earn as much as $10k-$30k per month from their subscribers.
YOLO
Feb 10, 2017 at 15:25
I am wondering if these signal providers on the social trading platforms have any liability for what they are sharing or it is at the follower's sole risk to decide if to copy the trades or not? Also, who stays behind these signal providers? Do they share revenue with the platforms on which they attract revenues and if the signals are wrong - who wins at the end?
Feb 10, 2017 at 15:30
khaled912 posted:
- It's fun for the signal provider. Feeling that there are tens or hundreds of traders who trust the provider and remain subscribed because they are impressed by their trades is kinda cool.
Providing signals to others to follow is not fun but a huge responsibility I think. If the signal is wrong, this means a loss for everyone. I don't see any fun here.
Member Since Jun 18, 2011
6 posts
Feb 19, 2017 at 07:42
If I am fortunate to become a signal provider, I will take that responsibility very seriously and honorably. I was wondering how the Myfxbook compensation works if a trader is using their AutoTrade option? As well as, I would like to know if any trader actually is receiving compensation from Myfxbook? Thank you all for the information shared. Profitable trades...
In everything give thanks...
forex_trader_349943
Member Since Aug 07, 2016
10 posts
Feb 21, 2017 at 08:07
hedgescalp posted:
Hello Ok4XTrader,
That depends on which social networking platform a trader is using. For example in MQL5, there is a particular subscription cost that a trader has to pay for following a trader. And like in case of zulu trade, you can open up a live account through a broker only and when you open live account through broker, you pay additional cost either in form of spread or commission which is sent to zulu by that broker and then given to the traders who are being followed.
So there are certain platforms that guard the compensation of that merchant?
Member Since Feb 22, 2011
4573 posts
Feb 21, 2017 at 08:09
OK4XTrader posted:
When a trader has other traders copying/following his/her trades, how does the financial compensation work?
You can get paid by time period (week, month)
or commission per lot
or commission per each trade
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.
