ZipSignals is a Forex trading platform that sends trading signals automatically to their own MetaTrader platform. Traders can choose from a wide choice of registered signal providers on the ZipSignals website. ZipSignals began providing a live service in February 2009 and has a huge selection of different systems that a user can subscribe to.
At ZipSignals, Forex signals are executed instantly in the trader’s account without having to install any software or having to keep the account open. Traders are in complete control of their account at all times and can adjust trade volumes or disable auto-trading altogether.
There are two methods to copying trades at ZipSignals. The first method is to duplicate trades to a linked brokerage account for free. You need to open a brokerage account with one of their compatible brokers. There is no monthly fee, no Expert Advisor is needed and you don’t have to keep your computer open 24/5.
The alternative method is to copy trades to any MT4 brokerage account using their MT4 Expert Advisor Program and pay a monthly fee of between $100 to $500 per system, per account. This method requires the installation of their MT4 Expert Advisor Program. You will need to keep your MT4 Terminal open and connected to the internet 24/5.
You may subscribe to more than one system at a time. Every system can be copied for 30 days using a free demo account. The customer decides which broker to use as long as it has MetaTrader as one of its platforms. They use FXCM as their quotes broker.
The same sign up form is used for both subscribers and providers. Signal providers must first link an MT4 account to the ZipSignals platform and attach ZipSgnal’s Provider Expert Advisor (EA). Once this Signal Provider request has been approved the provider will be able to download the .ex4 file to install on his terminal.
ZipSignals evaluates each trading system after 6 weeks of trading. New systems go public after the trial period. Providers are paid via PayPal.
Unlike signals providers that offer a singular point of view, ZipSignals gives you ready access to a variety of signal sources and a way to compare their performance. In order to navigate over 60 providers, ZipSignals uses a colorful user-friendly chart. A “copy” button appears at the end of each listing.
One interesting statistic at ZipSignals is their “ZipSignals Factor”. This is a score from 0-100 that takes into account monthly return, drawdown and the length of time the service has been trading. The higher the score the better.
The company’s instructions for setting up their service and selecting a provider to execute the signals in your trading account are quite clear. Their FAQ section is thorough and worth reading before setting up an account. However, the typos on the website were glaring as were the many words that appear in capital letters. I suggest that the webmaster do a good spell check.
All in all, ZipSignals is a solid signals provider. It offers you a moderate investment return while keeping funds in your own account. You can start with small sums of money and can switch readily between different providers. The costs are negligible.