Dear SimpleTrader signal provider,
Firstly, please let me thank you for being a loyal SimpleTrader signal provider. It’s through the efforts of you in the community that we’re able to provide such a popular and transparent trade copying platform.
We recently did a poll, and since our inception in 2012 we’ve supported 5,000+ clients and successfully executed over 38mil trades on client accounts!
As the site has grown we now have the luxury of being more selective with signals that are listed on the public market place. As you can appreciate, we’re in the business of helping retail traders make money by copying professionals (like you). However, when one signal provider fails it has a further reaching impact you might imagine. Not only do our clients lose money, but also faith in the system, and are therefor less likely to subscribe to signals in the future.
In response to this we’ve elected to increase the minimum requirement for signals on the market place.
In order to be listed, a signal must:
1) Be verified on SimpleTrader
2) Have a verified Myfxbook or FXBlue statement attached to their profile
3) Present a 6+ month, verified track record
4) Minimum deposit of $3,000 (USD or equivalent)
The following changes will be enforced from the 1st February 2017, so please ensure your account is funded to an appropriate level in preparation so that your signal will continue to be listed on the market place.
With your help, we look forward to continuing to offer profitable and reliable trade copier signals well into the future to our ever growing community of clients.
If you have any questions or concerns please feel free to contact support.
We have had a small number of clients who are experiencing random MT4 disconnects that do not reconnect until the MT4 terminal is restarted. In troubleshooting the issue we have verified the remote broker’s trading server is online when experiencing the issue.
We’ve found that when the bug is encountered, re-entering the password to your account has no effect. The MT4 terminal is dead and will not re-login until you restart the terminal.
It appears this is likely an MT4 application bug since the release of version 830. We have found and compiled these threads where there are mentions of a disconnect bug that may have started with MT4 build 830 and continues in build 840. So far there is no known fix.
We encourage you to report this to your broker’s support and you may need to reference some of the above threads for evidence that others are experiencing the same issue.
*Update July 1, 2015 We received a report today that this may be exclusive to Wallstreet Asia and/or Volatility Factor EAs. These EAs are using external DLL that may be causing the issue. Recommendation is for clients to contact the EA’s developers and request a fixed version. We’ve not been able to confirm this yet however.
Our Market Place is a hub of individuals / teams of traders who offer our copying community the platform to potentially achieve aggressive returns. As an intermediary between trader and copier, it’s our priority that we filter out what we deem as sub-prime and / or extreme risk traders from the Market Place. We do this by sometimes obtaining additional verification of the traders via 3rd party sources and broker authentication. In addition to this we also have the view of ultimately reducing the number of martingale / grid styled traders as they are statistically more prone to large drops or outlier events.
As of now this is a manual process but we will ultimately be incorporating a minor due diligence process. This will involve the trader submitting their signal to the Market Place for us to review before either approving or declining. This is so that we can streamline the process in a more standardized and non-discretionary manner.
We want to make it abundantly clear that this is all in an effort to ensure and demonstrate that our interests are constantly aligned with our copying community.
*keep an eye out for future posts as we get around to implementing these changes.
We have added the ability for signal providers to add images into posts from your dashboard. This is a great way to interact with users and we hope that signal providers will embrace this and start getting up some charts for all of us to see!
We are hoping to release the social dashboard in the next 12 hours to the entire network.
As we continue to evolve Simpletrader, we realise that in this day and age everyone wants to socialise and know whats going on in the world. This is why we’ve been thinking hard about how to integrate a social aspect into Simpletrader without flooding it with useless tools that no one will use or care about.
Over the next week you will see new social features in the Dashboard that will allow you to keep an eye on whats going on within the network and discuss points with traders.
We have already launched a beta version of the social side for Signal Providers – so if you are a signal Provider, please head into your dashboard and have a look over what we’ve been working on! We are launching this to signal providers first to build some content, and also its a good way to live test before we enable for the masses.
We are excited about the social side of Simpletrader, however without everyone getting onboard it will quickly fail! So we hope that everyone enjoys the hard work that has been put in by all the team here!
You can now verify that you own your trading account. This populates a check at the top of your signal page so all your potential and existing customers can see that your trading account is verified and real! This is incredibly important and we recommend all signal providers verify their accounts as quickly as they can especially if you are part of the market place.
Verifying your signal is easy and takes just 2 minutes – if you browse into “Edit Signals” you’ll see a link on your signal for verify trading account. You must be running the latest sender which is now version 2.7
Once 2.7 is running you place a pending order, close it – you are now verified and never have to do this again!
You may well have noticed by now some of the major changes that have been going on within Simple Trader.
We’re continuously working hard in improving our service and experiences for all our users. Whether you’re a trader or copier, we’re constantly striving to provide you the best possible service that’s available in the Forex Copy space today.
Here are some of the major areas we’ve been focusing on and continue to refine and develop:
- A more uniform layout allowing you to easily scroll and compare multiple traders.
- Live Ranking system – factors in Gain, Draw-down, Std Deviation, Worst Daily Change and Gain to Draw-down Ratios.
- “New Traders” short-list table.
- Top 3 “Big Gainers” for the given month we’re in.
- Snap-shot of traders performance (Growth, Monthly, Daily, Drawdown and equity line).
- Trading Metrics and Statistics – Comprehensive overview of the traders intricate performance (live update and accurate).
- Traders Equity & Draw-down– Everyone can now see the traders historical equity curve. We’re able to do this with our proprietary equity module that pulls historical price feeds and then builds these data points with a very high precision (red line). So if you have a track record and want to see your historical equity curve, our stats module will now populate this for you!
- Signal Description – Here you can learn more about the traders thesis, approach and general trading methodology.
- Signal News – This allows the trader to update everyone within the Simple Trader network. Any new updates will notify everyone from the Market Place through a small icon beneath your signal name: “News Update“. Copiers can also subscribe to your updates as-well.
- Contact Provider – When you now ask a trader a question, the response will be archived under this tab for only you to see. A transcript will also be sent to your email too (copier). (Please note that we will be aiming to incorporate an FAQ section as-well).
In the coming weeks ahead…
Expert Adviser Receiver
We will soon be releasing our newest receiver which will incorporate the new “Dynamic Lots” money management method. This will mimic the Signal Providers returns irrespective of what their account currency is denominated in. You will no longer have to concern yourself with the underlying exchange rate differential between Signal Provider and yourself, as this is now taken care of within the EA Receiver. Click HERE to learn more.
If you’re a Signal Provider and NOT using our latest ST Sender 2.6, then please make sure you make this update as soon as possible. Click HERE to learn more.
We are also very excited to eventually launch our “Simulator” module. This allows the user to gauge “what-if” scenarios. You will be able to simulate a balance and risk profile of your choice and view what your account would have looked like, had you been copying a trader since their inception. On top of this, we’re also wanting to provide a “Portfolio-Simulator*” so that the user can now simulate multiple traders under one account and tailor their risk to how they want it, giving you ample control!
**Keep an eye on this space over the coming weeks for when we finally launch this and more!
This email is concerning the CHF position(s) on your trading account and the prices streamed across the CHF pairs that have affected you today.
Today at 11:30 platform time (GMT+2) the Swiss National Bank removed the floor at 1.20 on the EURCHF currency pair which caused extreme volatility in all CHF pairs and the market in general. Over this period we saw spreads widen significantly which in turn caused the activation of price filters to stop pricing. Once pricing stopped on our main Integral price feed our backup price feed from Currenex was allowed to price. It was at this time that some liquidity providers were able to stream erroneous prices to IC Markets and execute client trades at prices they shouldn’t have.
Today IC Markets will be amending the prices on trades done across the CHF pairs with our liquidity providers. Once we have had these trades amended we will begin the process of adjusting clients accounts. This may include but not be limited to the actions below:
• Reinstatement of positions where appropriate and possible
• Amendment of open/close prices on trades
• Assessment of client portfolios closed due to insufficient margin
• Adjusting client cash balances to reflect the actions above
IC Markets staff will be working as fast as possible to complete the above and restore trading accounts to their correct state. We appreciate your patience as we complete this.Kind regards,IC Markets Trade Desk
At 09:30am GMT there was an economic release data regarding the Libor Rate of CHF. The interest rate was cut at an unscheduled emergency meeting. An aggregate of speculators are looking for fundamental changes such as this, which ultimately creates large sporadic pockets of volume creating extreme reactions in the EURCHF price.
Please be aware that should you have been affected by a price action that was otherwise non-existent or at least approximately shared by other brokers, you must contact your broker immediately to rectify this issue and reimburse / reinstate positions.
You may have experienced a bad tick or a price low that deviated massively from what aggregate liquidity providers otherwise called and provided at a higher price.
If you have experienced this issue with any other broker we urge you to get into contact with their dispute departments as soon as possible.