What is Signal Trader? | SocialTradingGuru.com

What was Signal Trader?

Please note that on December 5th 2016 Signal Trader ceased operations. We leave this introduction online though so you can review the service they used to offer.

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Signal Trader LogoSignal Trader was established in 2009 with the aim to provide the best possible automated mirror/copy trading platform, connecting people with an interest in trading with market experts. As their client you can:

  • get real-time access to the trading accounts of expert traders (aka “signal providers”)
  • receive open and closed position signal alerts via e-mail
  • automatically copy the trades of these expert traders in your broker account.

Signal Trader’s auto-execution mirror system allows you to duplicate trades on Forex, Indices and Commodities automatically when they get executed in your chosen expert traders’ own brokerage accounts. In addition, their money management options allow you to control the desired level of risk you want to take when you copy a trader (i.e. by setting your preferred trade size). Users can also monitor and close any copied trades in real time via Signal Trader’s interface.

There are currently about 12 signal providers available to copy on their social trading network. All of them need to go through Signal Trader’s vetting process and need to meet the following requirements:

  • trade from live trading account with a minimum balance of $8,000
  • have at least 3 months trading history with net profit of 3% or more
  • display a maximum draw down of no more than 15% over the lifetime of the account

These expert traders are paid $5 per standard lot traded in followers’ accounts, but for profitable trades only. As mentioned, they all trade with “real money” accounts (the amount of which is displayed). This is something fairly unique among the social trading networks and why Signal Trader markets themselves with the tagline “Real Money, Real Trades, Real Time”.

Signal Trader does not act as a broker, but offer the technical platform and service which connects your account with those of the expert traders. It is totally free to join and use Signal Trader, and there are no management or success fees to pay. When you sign up for a live account, you do however have to do this with one of their partner brokers (AvaTrade, FxPro, FXDD, FXCM, Forex.com, FinxFx, AxiTrader, FxFair, Land-FX, FxOptimax, icMarkets, FxFair, Core Liquidity, BelforFX, Gallant Capital Markets and ETX Capital). This is the way they make money (and hence can offer their social trading service free), because as a referring broker, Signal Trader receives an IB fee from the brokers for accounts they refer.  The minimum deposit required for using Signal Trader’s auto-execution platform is $2,000 (or equivalent in your account’s base currency). It used to be $5,000 but got lowered Q1 2015.

To try Signal Trader’s social trading platform and test the performance of their leading signal providers you can sign up for a free Signal Provider demo account. This practise account is valid for 31 days.

Click Here to visit Signal Trader’s website or to try their free demo

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CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

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Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.