Greetings to the reader of this article. In this review, I will try to disclose information about my experience of interacting with the mql5 service. I will tell you what opportunities and tools for making money the mql5 service opens, and in general I will describe what interesting things can be found for a trader, programmer and freelancer on this site.
The mql5.com website has existed for more than 15 years and during this time has undergone many changes, both externally and in terms of the services that this resource provides.
The mql5.com website can be divided in the following areas:
The biggest trump card of this resource is traffic, about 200k people visit the site every day, and most of them are people who, in one way or another, get involved in trading and are familiar with the MetaTrader 4/5 platform.
This service is an excellent tool for making money. It is useful both for a beginner trader who wants to find a signal to copy and for professionals who want to make money by selling their signals.
The subscription can be chosen for the MT4 and MT5 platforms. Also, any trader using this signal service can monitor his trading account, which will be one of the options for analyzing the account and at the same time searching for investors. But it is worth mentioning that the service is rather weak for collecting statistics (it is better to use myfxbook). These statistics can be easily manipulated by depositing and withdrawing funds at the time of the account drawdown, which will lead to manipulation of the actual drawdown and monthly signal profitability indicators.
Regarding the quality of the signals provided
Unfortunately, the quality of many signals leaves much to be desired. many traders work not on the amount of attracted capital, but on the number of subscribers. Signals often merge due to the fact that managers are chasing crazy returns (the desired monthly return to quickly gain 100% + subscribers) and this inevitably leads to a drain. as they say miracles do not happen.
Regarding the prospects of making money on mql5 for an account manager.
If we talk about the prospect of making money on mql5 for a manager, then we can definitely say that this is a very profitable and excellent tool for making money, and most importantly, the complexity of recruiting subscribers is not so high compared to raising funds in a PAMM account.
If we talk about numbers, then in the top of the rating you can get 400-800 subscribers, with an average subscription price of $ 30. In total, we get 30 * 800 -20% commission of the mql5 service = $ 19,200 Any trader who shows himself to be profitable, just profitable and no more, can count on such a monthly remuneration.
The point is that you do not need to be noticed except for trading, since when the statistics of the account improve, your account will automatically advance to the first lines of the top and the set of subscribers will not keep you waiting long.
It is worth noting that the number of accounts with MT5 is much less, and, accordingly, reaching the top will be much easier, but there will also be slightly fewer subscribers (but in general, it is not critical to differ). the MT5 terminal is still used by fewer traders than the MT4 terminal.
What factors influence the promotion of an account to the top
If we talk about the algorithms for evaluating the mql5 service, then signals with strategies that apply stop loss will move to the TOP much faster than accounts that do not have a strategy without a clear stop loss.
If we talk about the selection of accounts by the subscribers themselves, then the indicator of the monthly and total current profitability on the signal will play the biggest role. The fact is that within the page with signals there are sorting filters and most subscribers, within the framework of human greed, first of all select signals based on profitability, glancing at the drawdown and the presence of SL, but profitability is still in the first place.
Market of trading applications
As for Android there is Google Play, so for a trader with MT4 and MT5 there is an mql5 market – an excellent tool for making money.
The MQL5 Market is a really huge platform with thousands of trading robots, indicators and all kinds of pribludes that can really make trading interesting, easy and exciting. There are both free products with interesting functionality and paid ones that, if you exclude trade advisors, are much more expensive to develop than in retail. An example of such a product is this EasyTradePad trading panel.
All That Glitters Is Not Gold
The first thing I will note is that finding the application on the first page of the market does not mean that it is a worthwhile product, but most likely only that the author is maximally pumped in terms of traffic and marketing to his product and, in fact, the mql5 service has promoted it to the TOP on the first page.
The presence of mql5 reviews has also become far from a criterion for the quality of a product, but rather a tool for checking the author’s cleverness as a return bonus when they leave reviews by the buyer. Both negative and positive reviews may not be objective. Therefore, the reviews should be read fluently, from them, in general, you can understand whether the author gets in touch with the buyer and a little information on his performance. As for the performance, I note that most buyers are not going to scratch their nose to figure out how to use the algorithm.
What you really need to pay attention to when choosing an application on the mql5 service
- When choosing a forex robot, I recommend that you pay attention to the presence of long-term monitoring. Also, pay attention to whether the monitoring data is inflated, that is, often the authors wind up the amount of profit artificially and such a signal does not last long, which suggests that the monitoring does not correspond to the product being sold.
- The quality of the discussion and, in general, the quality of the published products (in terms of design, the presence of a video and a specific person behind its release, is he not afraid to show his real face to people!?) By this author, their multidirectionality (not only advisers, but for example utilities , with complex functionality), which will indicate whether the author’s desire to do something useful for people or the only goal is to shove you a product, taking your hard earned money.
- Ask questions to the author of the product, and if he immediately guarantees you that the advisor earns huge percentages (I think that more than 10% per month are huge) with a low drawdown. That’s 99.9% percent that this is just a scam.
Freelance service - a tool for making money
For a trader
The freelance service on mql5 really has a high level, both in terms of searching for performers and in terms of finding clients for a programmer. It can also be attributed to a good option for making money on mql5
The service has a really large number of talented programmers, and with a correctly drawn up technical assignment, you will get your task completed in a short time.
What should a trader pay attention to when choosing a programmer:
First of all, pay attention to the amount of arbitrage. It is important who the programmer or the customer won the arbitration, this indicates whether the programmer is responsible for the task taken or it is easier for him to close it halfway, in which case you will lose time and money. regardless of the result of the arbitration, 10% of the amount of work will be debited by the service.
Secondly, I recommend looking at the number of jobs and asking how much time a freelance programmer takes. If a programmer occasionally programs to order, this means that he is not interested in this direction and in case of closing the work, perhaps after a while you will not write to the programmer to fix the bug, because he just simply forgot about the freelance service and has not visited the site for a long time.
For a programmer
The mql5 freelance service for a programmer is really an excellent tool for making money, subject to receiving orders from an English-speaking audience. The Russian-speaking audience in most cases is not ready to pay the appropriate budget and, to put it mildly, endures the brain and will require improvements that you did not initially discuss.
It should be noted that the presence of social networks in the profile and openness to the customer will be a big plus. You should understand that in 95% of cases an ordinary customer is a beginner who draws up a technical assignment for the first time in his life, and it is at this point that he needs a little help. Agree with the customer the final type of the desired task and discuss the final type of work and functionality in advance on the shore, which will allow you to weed out those who want to receive the Grail from you without really even describing the technical assignment
I would not describe the forum as a super interesting place for discussions, although sometimes interesting discussions slip through there.
In most cases, topics are started simply from a bulldozer with names like:
Also, on the forum, there is often a showdown between the participants, who is smarter and between users and the administration, who is stronger, it is clearly worth noting that the administration and moderators are always stronger. There are a number of vowel and unspoken rules for posting, so it’s best to be careful about choosing the topic of the post you want to discuss.
As a separate layer, I would of course note that sometimes it seems that at some points the service is not friendly to both product sellers and buyers, my assumptions about the root of this problem are, of course, the monopoly positions of the mql5 service for people using MetaTrader and trading on Forex. But it is worth noting that with the right approach, the disadvantages of the service can be smoothed out and not taken to strong attention.
The main specialization of the mql5 service is, of course, the mql4 and mql5 languages, and on the mql5.com website, of course, most of the code is in these languages and, accordingly, there is a code base mql5 and mql4.
The code base is a very useful tool for learning mql programming.
Many examples are collected in the mql code base:
– trading robots
– trading indicators
– examples of libraries
For teaching these languages, this is a very useful resource for looking at examples of earlier written code.
VPS from the mql5 service at the time of this writing, the monthly payment is $ 15. The solution is not budgetary, but it has some advantage – it is the remoteness of your broker to your VPS, that is, faster ping. Reducing the ping directly affects the speed of execution of transactions.
There is reason to use VPS from mql5 if:
But it is worth noting that in most cases, you can choose cheaper options, for example, this one. Normal UPU 3-5 terminal costs an average of $ 7 is also worth noting that very often, you can select a location server in the UPU company picked up as close as possible to the servers of your broker. VPS from MQL5 puts forward one more + its use is the speed of machines in comparison with conventional VPS, this is true, but for trading it is not essential. since if you open a deal a few milliseconds earlier, it is not a fact that it will be better for the deal, unless of course you are an arbitrage specialist.
The site and services mql5.com are very interesting and necessary for a trader and programmer who opens up good opportunities and tools for earning money.
The programmer can find it here:
– standing orders for writing code
– a community of experienced programmers
– the opportunity to ask a question to colleagues on the forum
– useful information
– the ability to copy transactions of other traders in the signals service
– the ability to order a trading robot from a programmer according to your TK
– the ability to buy trading robots in the market mql5 service
– rent a VPS and chat on the forum
Join the community and start using services for making money on mql5 right now. By the way, here is my page on mql5, so register and add as a friend.
I wish you successful trading, see you soon.