Forex signal provider is one of the best and most lucrative ways. Forex signal provider is a real-time traders who share their approach with others. Whenever you open a trade it immediately gets copied into your followers’ accounts. After that, you get monetary bonuses to help other traders make money and be a Forex signal provider.
1. Signal Provider License
Most countries need money managers to get certified before they take ownership of money from other citizens. In short, signal providers do the same as money managers – select assets and open/close other people’s trades, but they don’t have direct access to followers account.
Hence the followers are themselves responsible for the consequences of their copy trading choices. Because the signal providers have no control over the choices and money of their consumers, they are not required to be licensed and there is no such thing as a Signal Provider license.
2. How to Start Selling Signals
The best way to make money from selling signals is by entering one of the trading sites for online copies. If you report your trading results with a platform become public (depending on the platform it can provide more or less information about your account but most will keep track of your benefit, average number of trades, drawdowns and risk / reward ratio).
A huge advantage of copy trading platforms is that they already have traders who are willing to buy lucrative strategies. And then, all you need to do is draw their attention.
3. Signal Provider Markets
There are the same number of specialties of signal providers as a variety of markets in general. You may choose to be a currency signal provider depending on your field. For instance, a commodity signal provider, a stock signal provider and so on.
It is very typical for a signal provider to simultaneously provide multiple strategies, where each one is based on a certain group of properties. For example, a currency signal provider may run one EUR / USD and EUR / GBP strategy as well as another for emerging market currencies.
4. Signal Provider with Demo Account
As a signal provider the advantage of making money is that you don’t even have to spend your own money. Some copy-trading networks require a demo account to sell signals. As easy as it sounds, you register as a provider of Forex strategy, open a demo account and start trading.
The downside to using a demo account is that other users are more likely to follow trader who is at risk for getting their own money. If you are a signal provider with a demo account can produce genuinely excellent results, this can reassure copiers that your strategy is trustworthy.
