In this post I will be reviewing the Broker Profit forex signal service. Broker Profit uses a trade copier to mirror the signal services trades to your mt4 trading account using the software provided by the developer. There is a live trading account feed on the Broker Profit official website so you can get a good idea of what to expect from using this particular forex signal service. The current Broker Profit performance on the FX Blue verified real account is showing a profit of around 20% per month having been running for around 5 months at the time of me writing this review. You may wish to check up on the official Broker Profit website for the latest results.
Broker Profit trades multiple currency pairs with the EURUSD currently showing the best performance which is no surprise as it is one of the most popular and widely traded “major” currency pairs which means it tends to have the lowest spreads and plenty of liquidity to ensure fast execution the majority of the time. For best possible trading conditions make sure that you are using a good ECN forex broker which will give you low trading costs due to superior liquidity pools and direct to market access.
Broker Profit uses the Internet Trade Mirror which is a free service for sending trading signals over the internet to other computers (currently for MT4 only). It is widely used by traders all over the world as a broker-independent alternative to MAM systems etc.
The sender runs an EA which broadcasts trading activity. Subscribers run a copier EA which receives the signals and automatically mirrors the sender’s trades. Each subscriber has full control over risk settings and all other trading activity, via the parameters in the receiver EA.
Whilst the current Broker profit results are decent, make sure you check the latest results when you read this review and remember that you are relying on another trader for taking the trades just make sure that you set a sensible lot size whilst trying out the Broker Profit signal service.