Signal Factory provides a bridge between Forex signal providers and Forex traders that are looking for real time advice. Trade signals are delivered from the providers’ accounts directly to your e-mail. Their Signal providers trade live accounts with their own money, therefore they are more obligated for best performance and low risk trading.
The company claims that their policy is to work exclusively with the best signal providers in the market who trade their own live accounts. Unlike other available signal services, they are strongly against any signal providers who trade via demo accounts (often with modified open source EA’s available all over the Internet). In fact, Signal Factory does not welcome providers who wish to provide signals from demo accounts, at all.
So, there are two key elements here:
1. They offer only live accounts.
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2. They offer only profitable providers who do not get under their initial deposit.
So yes, whilst other sites such as Tradency and Zulutrade offer similar functionality, this does have stricter requirements.
I personally think this is a very good attitude for any such site. Of course, there are many more parameters that are important, that aren’t included here, which would make the site even more powerful, such as, banning accounts (no matter how profitable), which support martingale type money management, or those accounts which have no Stop Loss, etc…
There is however, a cost attached. $28/month ($1/day). It’s not going to cost the earth, but I really think that if they want to start charging, then having just live profitable accounts is not enough – it’s the manner in which any given account is profitable.
Fortunately they do offer a 14 day trial, which although is nowhere near long enough, it does give a taster.
The good news is that they have informed me that since the service is still in a beta stage, they actually have many plans to extend its functionality. Lets hope they take some of my advice mentioned on board.