As already said, Algo Signals offers Forex and Crypto trading where traders have the option to choose between several setting available such as Reverse Trading, Max Daily Trades, Daily Take Profit, Daily Stop Loss and even customizing and setting the preferred probability for the trading signals the traders receive so that they can be in control of their trading experience. The more advanced the account is, the more settings it offers.
How to Trade Forex with Algo Signals?
To start with, traders can use the stop loss or the take profit setting. By doing so they can set the exact amount to take their profit or when to stop their losses. Since there is not an expiry time for these, traders can make sure that their trades close as soon as they reach that prespecified prices. For instance, if a trader sets the stop loss to $50 and the take profit to $100 then, the system will automatically close that trade when it reaches either the price of $100 or $50.
How Does Algo Signals Work?
Algo Signals does not require a download and it won’t take any space on your computer since it is a web-based software and can be run directly from your web browser. By using the software, traders have the option to connect to several licensed brokers. Hence, Algo Signals is not a broker but a software that simply connects traders to brokers, and no deposits or withdrawals go through Algo Signals. It should be noted that there is a variety of banking methods available depending on the broker of your choice.
What Is Algo Signals Leaderboard?
The leaderboard offers an exciting opportunity to traders to win big prizes by earning special points. It is based on the formula below. It is good to know that the leaderboard is reset every month so that there is a fair chance for all traders to win big.
For example, a trader who has reached a trading volume of $500, deposited $1000, withdrew $250 and is on the master level will receive 2250 points since 500 (trading volume) x 3 (multiplier for master level) + 1000 (deposits) – 250 (withdrawals) equals 2250.