Signaltrader.com is one of the new rivals in the forex
signals business.
They have some advantages that I will talk about in a
minute with that said there is a big turn off which is that it costs $99 to join.
Almost all of the social trading networks out there with most
of them are more advanced with much more solid platforms than Signaltrader.com
are free of charge. With that said Signaltrader.com decided to charge $99
per month for their membership.
That alone was a deal breaker for me. It's already a risky
business and it sure won’t feel right if I followed a trader, had a bad
month and on top of that I pay $99 membership fees.
In that business it's all about testing, it's about checking
track records of traders carefully and based on their performance I start
following some experts. It might as well take a while to find the traders that
suits my style and needs. Paying an extra $99 per month will certainly not help
me at all.
On a side note Signaltrader.com have some strict rules when
it comes to signal providers they partner with. So they only accept live
traders with a real account of at least 8K in balance, at least 3 months of
history and a maximum of 15% drawdown. Those kinds of filters are essential to
make sure that the signal providers are for real and are in for a long term business not just amateurs
that join for some quick bucks.
Even though, with those filters applied the sad truth is
that there will be bad traders, but quite frankly I won’t be paying a
membership fees to test and see if there are providers that will work for me.
If they are willing to offer a 3 month free trial period, at that time I would be happy to test
their signal providers and make a judgment on how they perform on my account.
If I find traders that will make me profitable then I won’t mind paying the
monthly fees at that time. Till they make that change there are other solid
networks that are free of charge and I am happy to keep them.
Mohamed Rabea - ForexFaqs.Net
Follow & Copy Experts For Free! - Find the best traders in the world's largest investment network, Copy everything they do into your account Make their success your own. Get Your Free Account Now.
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