When looking for a transparent and versatile Forex signals provider that connects skilled traders with consumers, Mydigitrade.com comes to mind, especially if you have been in the trading scenes for some time.
Therefore, in this honest My Digi trade review, I will provide an analysis of the platform from the perspective of a skilled trader and also a consumer.
I came to learn about mydigitrade.com through a Google ad and decided to give it a try using a demo account. It costs me nothing anyway.
There are two sides of My Digi trade which accommodates signal providers and those who want these signals for their trading respectively.
Both skilled traders and consumers can sign up here to gain from each other.
Here’s what you should know concerning this Forex signals platform.
My Digi trade Review: summary of what mydigitrade.com is
As we have said, it is a platform that connects signal providers with consumers.
First of all, the intuitiveness of the platform will make you feel comfortable signing up for an account. Everything is in its rightful place and the dashboard is visually enticing.
With regards to transparency, MyDigiTrade scores highly because if you were desperately looking for a skilled trader with a proven track record, it would be very easy to find one here.
You can check them according to their full trading history, their overall trading style, draw down, recovery period and a lot of other details.
MyDigiTrade currently hosts more than 200 FX signal providers. It’s important to remember that before these signal providers are accepted, there is a special vetting criteria which the admins of the platform use.
The exact criteria has not been disclosed. But I believe that for their traders to provide really good signals with solid performance, they must have been subjected to some sort of a rigorous test.
If you are just looking to start out in Forex trading, chances are that you don’t have the skill and experience to do the right thing in the market.
MyDigiTrade Forex signals are designed for you, and they are also free to use provided that you will open a Forex broker account with one of their regulated partner brokers.
I like their honesty here because My Digi Trade actually admits that they are getting a commission from these partner brokers. They help you and you do the same. Nothing weird.
And of course you can also open a demo account for free and also test their FX signals for free. Did it cost you anything? No it didn’t. But you tested and proved my words.
My Digi Trade features and advantages
Since transparency is at the heart of MyDigiTrade’s operations, you will find their top-traders ranked according to independent user rating that cannot be manipulated.
Let’s take a look at the screenshot below. The top rated traders and signal providers have been ranked accordingly. But one trader has not received ratings yet. So that means that the ratings are independent and can be trusted.
Each trader/signal provider can be selected and statistics viewed as well.
Basically, once you have signed up for an account through mydigitrade.com and are ready with your broker’s account, you can select the best-performing traders to copy their signals.
The platform will automatically copy FX trading signals into your account… typically for busy people.
My digitrade will also let you copy trading signals without automating the entire process if you have the time to execute signals on your own.
I’m a hands on trader, and I find this process quite involving. I don’t know about you. So if you don’t know how to read the market, I recommend that you should allow automatic copying of signals into your account provided you have selected the right strategy/signal provider with a clean track record.
Another advantage is that you can access trading credit without interest.
Mydigitrade funds your account with up to 300% of interest-free credit. That is, if you started trading with $2,500 and wanted this credit, you’d end up with $7,500 in your broker’s account.
And the brokers they are teaming up with are well-regulated and affordable to start with as minimum deposit is only $100.
Mydigitrade is one of the best copy trading services on the internet right now. Also, check this review of the Duplitrade copy trading service and compare.
I love the slick interface and also the honesty with which information is being relayed to both signal providers and their consumers.
I think Mydigitrade deserves a thumbs up for implementing professionalism. And most importantly, they’ve understood that clients in this industry are always looking for data in order to make decisions. That is what they provide to help you find a reliable trading strategy or signal to copy.