Signal offer - block a specific country from subscription - page 2

[Benjamin Greulich]

Fernando Carreiro:

Are you registered as a professional trader and financial analyst? Is that your primary business activity?

No, obviously you are not and therefore you are a retail or hobby trader. You do this as a side job, because obviously like most, you have another job from which you receive most of your regular income and pay your normal taxes.

Only institutions or people you have registered as doing this for a primary profession connected to financial services are the ones that requires special permission. Not you!

I am sure that the email you have has to be read in the context of such business activities and not about hobby traders.

I am sure you are making a mountain out of a mole hill about this!

EDIT: Well, it really is not my concern. You obviously believe that those rules apply to you, so just go about as you wish. MetaQuotes is definitely not going to make those changes at all, because they obviously do not fall under German jurisdiction and they are only obliged to follow Cypriot regulation.

"...which means that, from that date onwards, financial analysis can also be deemed to exist if the signal provider is not acting within the scope of their "profession or business activities."

[Michael Charles Schefe]

i cant speak for the jurisdiction of the op, however, while I know of many signal providers in australia on mql5, whom are not brokers in any sense of the word, with no broker licence of any kind, however, under australian law, providing trading signals are a financial service, and under australian law, to provide such services, whether free for not, whether they are free or paid in local currency or crypto or otherwise, they are doing an illegal activity, and imo I am sure that german laws in relation to signals is very similar and also enforced more often than they are in australia.

Fernando and others, please stop discussing legal matters that you are not privy to. Just give a script-like response such as: read the agreement and check with your legal advisor.

[Fernando Carreiro]

Revo Trades:

i cant speak for the jurisdiction of the op, however, while I know of many signal providers in australia on mql5, whom are not brokers in any sense of the word, with no broker licence of any kind, however, under australian law, providing trading signals are a financial service, and under australian law, to provide such services, whether free for not, whether they are free or paid in local currency or crypto or otherwise, they are doing an illegal activity, and imo I am sure that german laws in relation to signals is very similar and also enforced more often than they are in australia.

Fernando and others, please stop discussing legal matters that you are not privy to. Just give a script-like response such as: read the agreement and check with your legal advisor.

You keep forgetting and ignoring the fact that MetaQuotes is not in Germany, nor in Australia, and that the traders are not providing their signals to the end-users, but in fact supplying their signals, or products to MetaQuotes on consignment. When are people going to understand this?

MQL5.com Signals Service Distribution Agreement

III. LICENSE GRANT AND RESTRICTIONS

1. You grant to MetaQuotes Ltd a non-exclusive, worldwide, and royalty-free license to copy, display, and use Signals for administrative and demonstration purposes in connection with the placement of Signals in the Signals Service on www.mql5.com.
2. You grant to MetaQuotes Ltd a non-exclusive and royalty-free license to sell Subscriptions to Signals and distribute Signals according to the publishing options selected by You on the Signal upload page in the Signals Service.
3. MetaQuotes Ltd may engage the services of consultants and other contractors in connection with the performance of obligations and exercise of rights under this Agreement, provided that such consultants and contractors will be bound by the same obligations as MetaQuotes Ltd After termination of this Agreement, MetaQuotes Ltd will stop the transmission of Your Trading Signals via the Signals Service.
4. You grant to the Subscriber a non-exclusive license (Subscription) to the Signal which is sold by MetaQuotes Ltd to the Subscriber via the Signals Service, while the Signals offered in the Signals Service are not sold to the Subscriber. Subscription to a Signal shall be valid worldwide and entitle the Subscriber to display and use the Signal to his personal advantage in the appropriate MetaQuotes Software. You may at Your own wish enter into a separate End User License Agreement (EULA) with the Subscriber for the Signal use which will govern Subscriber's rights to it.

[Michael Charles Schefe]

makes no difference if the signal is being provided for an end user or to mql5 or metaquotes.

yes and that is the excuse that metaquotes and mql5 are using to continue to allow australian users to provide signals, since they know that they are out of reach of the australian regulator, however, it remains to be fact that many signal providers: austrlian and otherwise, are doing an illegal activity, it matters not that metaquotes in in cyprus. if they take or any sort of return for such a financial service, the signal provider must have a brokers licence to undertake such signal service. But this topic has been discussed to death in this forum, why do moderators continue to allow such discussions? or is it also because, in cyprus, metaquotes is out of reach of most of the financial regulators around the world :D. Anyways, this was my last comment on the subject, I do not mean to hijack the ops posting, nor to disrespect anyone, because i have the utmost respect for you fernando, however, you are making comments that would be considered as legal advice in many countries arouind the world, and to do that you also need to have passed a bar exam in those countries haha. please just give a standard response to these ops asking about this subject: TALK TO YOUR SOLICITOR, or more legal speak with the same gist :D.

And a financial consultant requires a brokers licence in australia, so that makes a couple of those points mute.

[Fernando Carreiro]

Revo Trades: yes and that is the excuse that metaquotes and mql5 are using to continue to allow australian users to provide signals, since they know that they are out of reach of the australian regulator, however, it remains to be fact that many signal providers: austrlian and otherwise, are doing an illegal activity, it matters not that metaquotes in in cyprus. if they take or any sort of return for such a financial service, the signal provider must have a brokers licence to undertake such signal service. But this topic has been discussed to death in this forum, why do moderators continue to allow such discussions? or is it also because, in cyprus, metaquotes is out of reach of most of the financial regulators around the world :D. Anyways, this was my last comment on the subject, I do not mean to hijack the ops posting, nor to disrespect anyone, because i have the utmost respect for you fernando, however, you are making comments that would be considered as legal advice in many countries arouind the world, and to do that you also need to have passed a bar exam in those countries haha. please just give a standard response to these ops asking about this subject: TALK TO YOUR SOLICITOR, or more legal speak with the same gist :D.

First of all, I'm not providing legal advice! I am providing my opinion based on my own experience and knowledge as an individual. I'm not providing any kind of legal service. I am voicing my right to free speech.

Secondly, if German traders or Australian traders require a license to provide their signals, then they have two options: Either they obtain such a license or they stop providing their signals. It is as simple as that. I see no mention that such a legal conditions are only valid for customers of their own country. I'm sure it is valid irrespective of the origins of the customer, otherwise it would be considered discriminatory.

So, with that in mind, trying to impose on MetaQuotes a mechanism to filter out their own countrymen, from the potential subscribers, is an attempt for the traders to justify their own violations of their country's regulations. You can't have two standards and two measures; either you abide by own countries rules or you don't. You can't just do some of it and then circumvent the other.

[Michael Charles Schefe]

Fernando Carreiro:

First of all, I'm not providing legal advice! I am providing my opinion based on my own experience and knowledge as an individual. I'm not providing any kind of legal service. I am voicing my right to free speech.

Secondly, if German traders or Australian traders require a license to provide their signals, then they have two options: Either they obtain such a license or they stop providing their signals. It is as simple as that. I see no mention that such a legal conditions are only valid for customers of their own country. I'm sure it is valid irrespective of the origins of the customer, otherwise it would be considered discriminatory.

So, with that in mind, trying to impose on MetaQuotes a mechanism to filter out their own countrymen, from the potential subscribers, is an attempt for the traders to justify their own violations of their country's regulations. You can't have two standards and two measures; either you abide by own countries rules or you don't. You can't just do some of it and then circumvent the other.

while i agree with most of what you said, you did make a direct quote from the unenforceable agreement, an agreement just the same, and that makes your comments as legal advice. The rest about the users stop providing their signals, i also agree with, however if metaquotes didnt choose such a hidden jurisdiction to land in, then, i doubt that any financial regulator outside of cyprus would allow them to do what they are doing in regards to this topic. But thats me now, for certain, going to bed.