Lowest Slippage Broker Combinations for Signal Providers & Signal Followers
I will try to answer these questions for MT4 and MT5, both Real and Demo (4 combinations):
1. If I was to set up a new signal system, what are the TOP 10 Signal Brokers I should choose from to maximize my followers' success?
2. If I am a signal follower, what are the TOP 10 Following Brokers? If I change signals because I found a better one to follow, the new signal might have a "Best Broker" but opening a new account each time I change signals is simply unreasonable. I want to know which brokers seem to work best overall.
What is the best combination of brokerages to eliminate the most slippage in a provider/follower relationship? I am a signal provider using Trader's Way. But some of my followers have very large slippage. I often suggest to subscribers to choose one of the low-slippage brokers on the "Slippage" tab. (See screenshot below)
From the Forum rules . . .
2. Discussions of any banking, brokerage or other financial companies or institutions are prohibited. Such messages are subject to removal
From the Forum rules . . .
2. Discussions of any banking, brokerage or other financial companies or institutions are prohibited. Such messages are subject to removal
Thanks RaptorUK. I can see the wisdom in this. MQL5 must remain neutral for sure as all of the many brokers using MT4 or MT5 are their clients.
I think the data is very relevant and I will still collect it, but I will not post here. (I may post it on my website.)
So in keeping with the forum rules, here is the bottom line:
If you are signal follower, look around a bit first at many systems to see which brokers have a good track record for low slippage.
If you are a signal provider considering a new system, then think about slippage for your followers and contact me privately if you are interested in my findings.
Lowest Slippage Broker Combinations for Signal Providers & Signal Followers
RaptorUK, 2013.03.28 19:23
From the Forum rules . . .
2. Discussions of any banking, brokerage or other financial companies or institutions are prohibited. Such messages are subject to removal
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What is the best combination of brokerages to eliminate the most slippage in a provider/follower relationship? I am a signal provider using Trader's Way. But some of my followers have very large slippage. I often suggest to subscribers to choose one of the low-slippage brokers on the "Slippage" tab. (See screenshot below)
(I also just noticed today that MQ added the number of trades taken with each broker. Great data! Thanks MQ.)
Bottom line is I want my subscribers to be as profitable as possible with my signals. I will certainly keep watching this list and advise which brokers work best with Trader's Way. But perhaps I should consider changing brokers as a signal provider to increase the chances for my followers to have less slippage?
I asked one of the system administrators, and they said they were not able to analyze the slippage data at this time. Perhaps someday?
In the mean time, I will be personally looking at many signals on MQL5 and evaluating the slippage between signals and followers and posting it here for all to benefit.
(1) I will be looking at only the "green" brokers that have received at least 5 signals from a given signal provider.
(2) For the first pass, I will be looking at EUR/USD only in order to compare apples to apples.
Before I get started, are there any thoughts?