Mt.Cook is pleased to provide access to multiple social trading communities. It’s not an easy task to become a trading guru, and for those who do, its sometimes a secluded or lonely job. New research has been supporting the power and real benefit of “tapping in to the crowd” vs. the “go at it yourself” approach. Trading socially not only gives you access to direct trades from some of the largest communities of profitable traders, it also allows you to gain new experience, trade ideas, knowledge and skill. This “power of the pack“ environment is great for both new traders and professionals alike!
Mt.Cook is directly integrated with, and/or supports the following social trading platforms below to help you access some of the world’s top traders.
Signal Start is a robust signal trading platform powered by Myfxbook. It provides a marketplace for both signal providers and subscribers. Mt.Cook has integrated with this service and our clients have been frequent users of it since its launch.
Unlike its big brother Myfxbook Autotrade, there is no qualification criteria to list your signal on this service, so you get a much wider range of traders listing their signals here. You can connect your Mt.Cook account very easily to the service and subscribe to any trader’s signals you wish, while gaining access to a powerful suite of risk control tools and account settings to manage (and protect) the trades coming on to your account. The service charges a monthly fixed fee per signal, in addition to the trader’s subscription fee. More information can be found here. Our experienced team are standing by to help you quickly get up and running should you wish to use this popular service.
MetaTrader (MQL) Signals
Trading Signals in MetaTrader are built directly in to the trading terminal, and allow you to automatically copy the trades performed by other traders, from around the world, in real time. Many successful traders provide their trades to the crowd either for free or at a fair price.
Thousands of commercial signals can be found on the MQL website and also on the Signals tab built directly inside your MT4 trading platform. These are easy to filter and sort through and you can subscribe and receive their trades according to the many parameters you have available to you that you can configure. More information can be found here and of course our team is here to assist you and provide our fanatic custom support to you all along your trading journey.
Autotrade is an account mirroring (trade copy) service operated by Myfxbook who happen to be one of the largest social trading communities and FX tech providers in the industry. The AutoTrading service allows you to copy the trades of other profitable traders and systems from the Myfxbook community directly into your Mt.Cook MetaTrader 4 account.
This service makes it very easy for traders to build their own custom portfolio(s) or to simply add other trader’s trades from the Myfxbook community directly to their accounts to supplement or compliment their own trading endeavors.
The best part? There is no need to install any complex software. All the server load, duplication technology, and heavy lifting is handled by Myfxbook. You pick your favorite traders, configure your settings, and begin receiving trades in your account in no time! Mt.Cook is a supported partner brokerage. More information on the service can be found here.
How it works
There's 4 simple steps from start to finish, and we are here to help you get up and running smoothly!
Open A Trading Account at Mt.Cook
Our apps take 4 mins. Our friendly compliance team will help you get approved quickly.
Fund Your Trading Account
Upon approval you will need to send funds in to your account so that you can begin trading.
Subscribe to a Social Trading Service
Choose and open an account with a social trading service of your choice. Search for traders.
Recieve Trades Instantly!
Configure your account and risk settings for your selected traders and start to receive trades asap.
You got Qs. We got answers.
1. How much do these services charge?
This varies significantly per service and per provider. Some social trading services charge a fixed monthly fee, a spread/commission cost, or, they are free. Traders offering their trades charge variable rates as well from free to expensive. Generally speaking, the better they are, or longer their track record is, the more they tend to charge. It is best to read through each service’s fees in detail and ensure you are comfortable with the cost of the service as it relates to your specific investment and trading goals.
*NOTE: Mt.Cook does not charge for any of these services. This is a value-add service to our clients to provide greater options to help them in their trading endeavors.
2. Can I place my own trades as well as receive trades?
Yes. Most social trading services are setup so that you can receive trades in to your account, and also trade yourself at the same time, with no restriction.
3. Are these services integrated with your brokerage?
Yes. In almost every case we are integrated directly with these programs. In some cases there are no integrations required. In other cases they are integrated directly in to your trading terminal. Our support staff are very familiar with each of these services and helping clients get connected.
4. How good are the traders on these services?
This varies considerably as there are so many traders in these communities. It is important to conduct a deep due diligence and analysis on any trader or service you wish to subscribe to before doing so, to ensure you are comfortable with the strategy and trades you may receive. Thankfully most of these services provide excellent analytical tools to conduct good due diligence.
5. How can I manage the risk or trades I subscribe to?
Most services offer very robust risk control and account management features to ensure you can easily protect your account, and customize the strategy in various ways. It is strongly recommended to familiarize yourself with these controls and features.
6. Will my performance match other trader's exactly?
Most social trading sites use trade-duplication technology. Meaning trades you subscribe to may be copied from their service (and other trader’s accounts) to your trading account. While most duplication technology is very quick and robust (low-latency) there may be discrepancies from time to time, due to slippages, latency, and/or differences in pricing between different brokers – all attributes of the decentralized FX markets. So you will need to be aware of this fact. Typically our spreads are tighter than most other brokerages providing a price advantage over other shops.
7. Do you vouche for any particular service or trader?
While we are careful in selecting only reputable social trading services we work with, please understand that these platforms have been produced by third parties and we don’t make any representations or warranties that they’ll be accurate or error-free.
Likewise, nothing on this page is to be construed as an offer, recommendation or solicitation to buy, sell or to participate in any particular trading strategy. Please be careful and diligent when using these services, and see our 3rd party risk disclaimer for further details.
8. Do you work with other social trading platforms?
The social trading platforms that we integrate with and/or support are always listed on this page. If you have a service you would like to recommend, please contact us, and let us know a bit about them. We can review their platform and service and consider integrating with them.
Please note that many other social trading platforms out there do not require our approval or integration and you are free to use these at your own leisure with your trading account here. As always, be diligent and careful in your endeavors.
Get Social at MT.COOK!
Remember to always do your social trading at a brokerage who understands these services well and who are there to support you.