Why do some investors choose auto-trading?
Auto trading is the correct resolution for those who don’t want to miss out on opportunities. Expressly if you are very busy and don’t have the time to organize your trading setup. The concept is like copy trading. The difference is that auto trading sets more weight on automated execution processes. Hence, the scope of approaches can be broader. trading with robots can be categorized as auto trading as well. As the methodology also, emphases on the assortment of automatic execution and signals on the trading platform.
MyFXBook service is one of the ways of auto trading that not only delivers automated trading convenience but also exhibits signal choices from expert traders. If trading at a forex broker offers the linking, you can connect the trading account directly to the Myfxbook signal. Consequently, auto trading turns much easier.
The advantages of Myfxbook Auto trade
Since MyFXBook Autotrade has many advantages that can forward traders with automated trading, several auto trading platforms are now seeming to propose services with diverse benefits. To begin with it:
- Directly linked to MT4
Rendering to MetaTrader 4, the powerful MT4 trading system permits you to execute strategies of any difficulty. Accordingly, if you log in with a forex broker account that has operated with Myfxbook, you can join your Myfxbook account directly to MT4. If you enroll as a Follower, that being so auto trading on Myfxbook can be implemented automatically on your MT4.
- Social Trading Services
Moreover, to providing auto trading, Myfxbook is a platform which also purposes as anassembly place for traders to use discussions (such as forums) and deliversamenities for Followers to keeptrack, equate and analyze the performance of signal providers. Contrariwise, the Myfxbook service in additionserves as a place for signal providers to clasp as many Followers as possible.
- Accurate Statistics
Myfxbook can exhibit trading performance statistics with great accuracy. Consequently, it is only ordinary that the Myfxbook platform is depended upon by numerous signal providers to system sellers and trading robots, towards the display evidence for the presentation of all their products.
- Best Trading System Selection
This auto trading platform contains many distinct features to recognize account providers whose signals are justly credible. As well, Myfxbook has automatic filters that are able remove trading systems with low performance.
- Unlimited Demo Account
Trial accounts on Myfxbook are accessible unlimited. Endless time limit to demo accounts on this platform.
- Assures Credibility of the Signal Provider
Myfxbook policy doesn’t allow demo account holders to become signal providers. Hence, it is for sure that the auto trading signals on Myfxbook derive from frank traders who previously manage live accounts and maintain a credible trading track record.
- Transparent Fee
Myfxbook shows all comprehensive information regarding dues and services. This auto trading provider also delivers inducements for profitable signal providers.
- Serves Full Control
Even if you run auto trading, Myfxbook offers full liberty. You can set any system of your choice, choose how to manage money, and create execution adjustments if market conditions are not consistent with system rules.
- How a trader can use MyFxBook:
- With resemblance to a business card of an account manager. MyFxBook is a brokerage independent platform that guarantees the interests of its handlers. Trader can make their pages publicly accessible and show their audited trading results (by sending the password to the investor, public access), where potential investors will see all the statistics without the likelihood of interfering with the trade. An investor may get a backtesting report from MT4, but in regards of security and reliability, MyFxBook outpaces.
- You can analyze your account with its advanced statistical analysis. There are much more competences of sorting, statistically analyzing different types of performance data than in MyFxBook the MT4 tester. The matter is if a trader is keen to study it or will receive the capabilities of MetaTrader.
- You can save statistics for former periods. There are circumstances when, on behalfof your account type, MT4 saves only a few months of the trading history. In MyFxBook the entire history from when the account was connected is saved.
- Trader community. MyFxBook links the clients of over 100 brokers, hence it is a sort of social platform, or forum.
MetaTrader 4 is the most popular platform that is used worldwide by traders and brokers. It links the clients of the brokerage companies with the financial market. MetaTrader 4 was generated by MetaQuotes Software Corp. in 2005. It provides the users the platform for trading in Forex, Future and contracts and differences. MT4 not only provides various tools but also employs automated techniques for trading. Most of the brokers throughout the world use the MT4 platform for trading since it is available for free with exceptional tools which increases its popularity. MT4 platform gives a highly advanced technology with a high level of security which makes it stable. There are several technical indicators that are pre-installed. It also provides 9 different time frames,3 different chart times which allows the trader to monitor the market accurately.
Advantages of MT4 trading platform are presented with:
- Customer Review
Customers mostly associate it with being user-friendly and easier to use. It permits to trade within this unstable market with alarge level of affluence and ease. Since it is cloud-based it can be retrieved from any setting and may be downloaded on several device such as a Laptop, Tablet and mobile phone.
- Multi-lingual
MT4 platform maintains its users worldwide. Hence, they concise a vast range of language selections to choose from and have trade based upon.
- Charts
Handed with its special features, it also gives advanced chart facility. It allows the traders to analyze the technical facets and proceed to trade accordingly. Altering charts, colors, or giving templates is something distinct that MT4 offers.
- Guidance from Experts
This is considered the USP of MT4. Specialists make traders use automation which can mechanize trade hand in hand with customized EA which finely attends the purpose. The achievement and status of the platform is chiefly owing to its algorithmic trading.
- Communication
There is a special feature that allows brokers to post real-time news and share ideas with traders online. This saves the tedious email process and makes the procss much smoother.
Minimum resource usage: There is a minimum resource usage that has little impact on the
- This allows the platform to respond quickly and the processing speed to reach the appropriate height.
- Profile visibility
Users can view their account information through the platform interface. You can change the desired view. For example, you can place windows and diagrams for each profile.
- Security Concerns
Forex trading involves huge amounts of money, so security should be a top priority. MT4 is very secure because it uses a 128-bit key to encrypt data transmission between the server and the merchant. The merchant’s IP is also hidden.
- Flexibility
The MT4 platform is flexible enough to support all currencies and markets such as futures, commodities and equities.
- Personalization
MT4 has the ability to personalize users according to their needs and usage. For example, traders can develop their own expert advisors and technical indicators.
