As a Provider, I am trading off FXCM Spreads. Whether I choose to Trade from my Actual Real account or Demo is up to the provider. Either way the results will be the same because the trading conditions are Real and Live with FXCM Spreads.
If you want to know What provider actually uses their Own signals, You can Login into Zipsignals, View the Providers History and See if the provider executed the Signal Into their own Trading Platform.. There is a Small Checked BOX Below Mt4 Tab. This shows that the trade was executed into their own platform. From my observation, I noticed that I am the only one that actually does this.
However, as a Client we still do not know if the Provider is Trading from Demo or their Real account.. I have linked MyFXBOOK to my signal Account, and all my trade calls are posted on Twitter. But I guess this still does not Prove anything.
I understand your concern about if Providers are actually trading their own signals Or just Sending Signals... To validate my own trade calls, The signals are posted Via Twitter. And you can check my Myfxbook profile for the Real Account.
Thanks, Will schaarrand. That's so much clearer. I hope what you said is true as I'd like to follow some manual trading systems. One thing you didn't mention and I can't find from the Zipsignals site is whether the provider has to trade on a real account or a demo? And also do the clients have to trade real as well or demo is ok?
1.) As a provider, I can use MY OWN Expert advisor (I don't Use EA's but you can) to trade my account. Zipsignals provides a Trade Copier (EA), That will send ALL the Activity from My account to the Clients Account automatically. The delay when using the Zipsignals Trade Copier EA is fast. within 5 seconds or right around there.
2.) If you are an aggressive Scalper and 5 seconds is Too long, then you can Log into Zipsignals Website and Trade straight from their Platform. I have done this during a News Release and the Delay to the Client is Milliseconds. Zipsignals has put much effort forward to ensure satisfied Signal Providers and their Providers clients. I am very Impressed with their System.
3.The Client receives ALL of the trade calls via Expert Advisor provided by Zipsignals for Free. A Provider also has No Fees or monthly charges. As a provider, Zipsignals Only takes a small percentage of the Signal Signup Fee. I do not know the Fees associated just yet, as I am still new and my signals have only been available for 2 Weeks.
4. You do not need to use an Expert advisor like most Signal services.. I believe ZipSignals is the First Trade Call Provider Designed for the MANUAL Trader ;-) It's about Time.
5. All Trades are Posted LIVE, with 'up to date' Percentages, Drawdown, etc. It is updated every Minute I believe. All trades are subject to FXCM Spreads.. So on EURUSD you are looking at 2.3 spread. So this ensures that We are not using some shady Bucket shop that has .5 spreads on All Majors. NO arbitrage Trading Here.. It is all transparent and Real as REAL LIVE TRADING with Realistic Spreads.. We can not cheat this system.
6. Yes, Zip, charges commission on Each Client's subscription. Very reasonable considering What they have to Offer.
7. ZipSignal Sends the Signal to the Client, the Provider does not have to anything more, than Trade for themselves ;-)
8. The client has Complete Control of Everything. You can Turn off the trade calls, if you think your trader will do poorly on some specific Event. You have complete control of Lot size, Risk. If you want to control the TP and SL, I offer an Order Closer for my subscribers, However, the Order Closer is not needed, because I am the one controlling the Risk Management. I am the one deciding what will be the Take Profit and Stoploss. But, I also believe that the Client should have the CHOICE as well. Hence, I am offering the iMANAGE EA for Free.
Look interesting for scalping, I wonder I can provide the signal using EA ?
My EA is fast scalping where it very sensitive with pip movement, so not sure it able to work out or not.
Anyway, as a Provider, do you need to pay any service fee to ZipSingals ? Or they charge by your subscription commission ?
You will send the signal to ZipSingal first then ZipSignal sent to your client, or you direct send to client ? It might bee an issue of delay if send to ZipSingal first, and also have issue if direct to client as your PC might get over traffic.
Do client have the option to reverse your signal, adding Fix TP,SL, ratio adjust lot size..?
Can someone clarify for me here? As a provider (on zipsignals), you can trade manually and send the signals manually to your clients and only the clients will receive signals through an EA. Your trading does not have to be automatic, am I right? I'm only just getting to understand this signal provider thing. It does sound like a good idea to see what others are trading instantly and manually. I just don't trust auto at this moment.
I have been testing ZipSignals as a provider and not as a customer.
However, when I was testing their software, I never had any issues.
Their platform allows me you directly place my trades from their website which does speed up the signal to the clients by a few ticks. I am also using their PROVIDER EA which copies all of my trading activity and sends the signals to the client. So far the speed is working great, even though I am an aggressive scalper.
Their platform allows me to see when each trade was executed on the clients side, which is very useful. I can also send messages to my clients if I want to update them with new information or with new settings.
The Clients EA has complete flexible whether they want to use a percentage of their account balance or fixed lots.
You can also trial test my signals from ZIPsignals for only $1 a week.