Signal Follower FAQ

Tradesbook is a social automatic trade service that allows you to follow the activity of FxStat traders that have the Real account and profitable performance. Through Tradesbook, you can start executing their trades and achieve their success. You can choose the traders you want to follow according to their strategy and their results, while you still enjoy having complete control over your portfolio and investments.

General questions

1. What is Tradesbook and how does it work?
2. What advantages does Tradesbook offer me?
3. How much will I earn?
4. How can I join?
5. Are the signal providers safe to choose?
6. What are the costs for this service?

   Technical and operational questions

7. Do I need to open a new trading account?
8. Do I have to choose another broker if my current one is not found on your list?
9. Can I use my account for both automatic and manual trading?
10. Do I have to be connected to the Internet all the time?
11. Can I use a demo account for trading?

General questions

 What is Tradesbook and how does it work?   Tradesbook is a social automatic trade service that allows you to follow the activity of the FxStat traders that have the best performance. Through Tradesbook, you can start executing their trades and achieve their success. You can choose the traders you want to follow according to their strategy and their results, while you still enjoy having complete control over your portfolio and investments.
FxStat Tradesbook carefully and continuously analyses our performers' activity and we guarantee that their trading is accurate and they act according to our trading rules.

 What advantages does Tradesbook offer me?   The main advantage of Tradesbook is being able to execute the same trades as those of the most successful traders present on the FxStat platform. You check the performance of each trader that has been accepted as signal provider — their trading info is easy to access so that you can choose the best signal provider — , decide to follow them if their strategy and results are suitable for you and you start automatically executing their trades. Although it's an automatic system, you still have complete control over your investment choices or budget allocation by increasing or reducing your contract sizes and you can add or remove the signal provider at any time.
Besides having total control on your investment while obtaining the same results as successful traders, the costs of this service are as fair as possible: please visit our commissions and fees page.

 How much will I earn?   No one could ever tell you how much you can win from using Tradesbook. It all depends on the amount you invest and the strategy your signal provider uses. If you choose a signal provider with a safer strategy and less risks, than you'll have a smaller profit, but constant and sure.
FxStat cannot guarantee your success or your signal provider's success. As in the case of other investments, it carries a risk which you assume. Of course, this risk is considerably reduced through orders like stop loss, which you should use for this type of investment. Also, you have complete freedom to add or remove a signal provider and change the trading controls.
FxStat Tradesbook acts only like a platform, an interface between you and other verified traders that have had a positive performance. These traders are not managing your portfolio and can't act as coaches. Neither FxStat Tradesbook, nor the signal providers can assume the risk of your investment.

 How can I join?   The procedure is more than simple. All you have to do is to join FxStat for free of charge, add your trading account, buy signal credit, add signal provider to your portfolio, receive trades.From the moment your account is added, you can start choosing your signal providers, setting the controls for trading and allocating investment budgets.

 Are the signal providers safe to choose?   FxStat Tradesbook analyses signal providers, and the trades and strategies of any trader that wants to become a signal provider. Before accepting their request to become one, they must comply with: 1. Minimum of 10-15% annual return on investment in your Forex account.
2. Verified real account
3. Profitable performance during the minimum last 90 days with risk adjusted performance
4. Average pip/trade over 5-10
5. No Martingale trading strategy
6. Due diligence on trading discipline and style
If the trader doesn't respect FxStat Tradesbook strict code of practice and trading rules, their application will be rejected.
As stated before though, FxStat cannot guarantee the signal providers will always prove to be successful and followers take the same risk as in the case of any other investment when choosing to follow a signal provider.
All signal providers present on FxStat Tradesbook have been carefully verified to guarantee that they make real trades, with real money, on real accounts. No demo accounts are accepted.

 What are the costs for this service?   FxStat will charge traders based on their traded contract size.
For more information please visit FxStat Commissions and Fees page.

Technical and operational questions

 Do I need to open a new trading account?   FxStat supports any broker offer MT4 trading platform and we are working to expand our list. You don't need to open a new trading account. You just have to add your account number.
In case your trading broker doesn't offer MT4, you will have to open a new account with one of the brokers that offers MT4. You can still keep your old account for manual trades.

 Do I have to choose another broker if my current one is not found on your list?   Our list includes over 350 brokers and we are constantly adding to it. In the unlikely case your broker is not found on our list, you will have to open a new account with one of the brokers we support. But fortunately this is a simple procedure so it shouldn't require too much time or effort on your part.

 Can I use my account for both automatic and manual trading?   Yes, you can continue using your account for manual trading, along with the automatic trades executed through the signal provider. In case you open a new trading account for FxStat Tradesbook services, we advise you to keep it only for automatic trading.

 Do I have to be connected to the Internet all the time?   Yes. FxStat developed its own bridge which is required to be installed on MT4 platform. To be connected to MT4, you need to have your MT4 account open. Fortunately, there are many cost effective VPS providers on the internet. You can subscribe to one of the VPS service providers for a very small monthly fee to have a virtual private server available for you and get your MT4 setup. If you need any assistance for VPS please do not hesitate to contact FxStat support on support@fxstat.com

 Can I use a demo account for trading?   No, demo accounts can't be used. If you use demo account, you still need to pay the signal charges as you do on real account. As long as this is a requirement also for the signal providers, we can't accept demo accounts in the case of our clients.