FAQs


First Steps on APPs

Thanks for joining APPs, a social network for Professional Traders!

APPs is a great place to:

  • Learn about trading by asking questions and discussing strategies with other traders.
  • Share ideas, market events and commentary as well as trading opportunities and strategies.
  • Follow other traders to see their activity on APPs and interact with them.
  • Analyze your performance as well as performance of thousands of traders who post their signals onto APPs.
  • Choose your favorite traders and AutoCopy their signals onto your trading account.

Step 1: Setting Up to AutoCopy in APPs

Click On this Link for a Step by Step guide to Automate your Account for Investing

*If you find the steps confusing or complicated. Do email us [email protected]

APPs only works on BrightWin eFrim Account.


"Do not Give Up, the beginning is always the hardest."


Step 2: AutoCopy APPs Professional Traders

Automatically copying from experienced trader via our AutoCopy system allows you to reap benefit of traders’ experience and to replicate their trading strategy in real-time on your MT4 account, . To take advantage of this functionality, you need to:

  1. Link one or more Live accounts and install the APPs bridge. Click Here for instructions on account linking and bridge installation.
  2. Research, engage and select your desired traders accounts. You can do so via the Traders page.
  3. Since many Signal Providers charge a fee for the AutoCopy functionality, you must purchase Tokens on APPs.
  4. As a last step, go to your Profile AutoCopying section and choose from the traders offered fee model that is the most appropriate for you along with appropriate limits and trade sizes. Once completed, confirm that you want to start AutoCopying from the chosen account. Then just sit back and watch trades being automatically replicated on your account.
Note that in order to Copy Trades to your MT4 account, you must keep your MT4 platform connected to www.eFirmz.com at all times.

Step 3: Create your Profile (Optional)


  1. Go to Settings to select User Account to review or modify your email, password, time zone and location.
  2. Select Profile Information to update general information related to yourself and trading style.
  3. Select Profile Picture and upload your favorite picture to be displayed as your profile picture.
  4. Select Links and input your website and various social media profile pages.
CONGRATULATIONS!
You are now part of the most Professional Social Network in the World!

Don't forget to invite your friends, it's more fun to trade together.
For more helpful information, please visit our Help section on APPs.eFirmz.com

Thanks for joining APPs, a social network for Professional Traders!

Below are the benefits of AutoCopy on APPs:

  • Maintain full control of whom and when you want to copy. No need to give power of attorney to a trader, unlike traditional methods.
  • Choose from any of the signal provider’s 3 possible fee models offering you greater flexibility. Some of our Professional Traders offer free trials before you pay.
  • Analyze thousands of traders with with different filters allowing you to choose the best traders for your portfolio.

Link your trading account to APPs

In Settings, select Account Link to connect your Live account to APPs in order to AutoCopy.

  1. To add your account, input your Trading account number and adjust Account Settings. Then Click "Save." 


  2. Connect your BrightWin eFirm MT4 Account to a APPs.

As a social network, APPs allows our master traders to leverage our platform and build their reputation with us.

Below are the benefits of becoming a Master Traders on APPs:

  • Post your trade signals to thousands of traders on APPs and earn revenue from traders AutoCopying your trade call.
  • Select and Apply up to 4 different fee models, including offering free trials to new copy traders.
  • Withdraw your earned fees at anytime.

General

APPs is an online social trading network that enables its members to create a profile, connect with other traders in order to easily communicate together and share trading ideas, strategies and other related financial market information. In addition, members can link their trading accounts with APPs to publish account activity in real-time for others to see, analyze, comment or utilize AutoCopy.

Our mission is to offer an open environment for everyone interested in trading, where traders can connect together through APPs to utilize the collective wisdom of many to make better trading decisions.

Unlike others copy system, our master traders are selected base on stringent due diligence.

You can find members to follow by visiting the Find Top Traders page. You can look through and evaluate each trader's past performance and stats, followers, length of trading history etc and decide who to follow.

By following other members, you can filter their Activity Feed in your dashboard. Also, depending on your notification settings, you will be notified when a member you are following places a trade or posts something.

No, you only copy from our professional traders.

You have complete control over your account privacy. You may choose to show/hide various details from your profile Settings.

The security of your information is our top-most priority. APPs uses industry-leading encryption methods to transfer and store all data.

If you would like to change your security settings, please go to the top right-hand corner of the page and click on Settings under your username. From there you will be able to access the User settings area and change your security settings.

There is no cost for a member to participate on APPs. If you are a Copy Trader, then you only pay the fee applied by the Professional Traders.

Yes. To ensure your orders are executed, you need to log in to your trading account. If your MT4 account is not connected to eApps, your orders cannot be executed. If you see an error message saying Trade Request Failed. Reason: Platform Unreachable, please make sure your MT4 logged in to eApps with correct MT4 password .

Here are some posting guidelines for APPs users. Failure to adhere to these guidelines may result in a deleted post or terminated user account:

  • Consider others. We would like to think of APPs as a community, one where we can learn from each other in a cordial and civil manner. Please be considerate of others when posting. Always pause and think before posting.
  • Keep it trading related. Obviously not all non-trade related banter is bad, but some can be. See guideline #1.
  • No broken records. Have something to say? Great, let's hear it! But once is enough.
  • No solicitations. Period.
  • No Spamming. We have a zero-tolerance policy against spam. Any member caught spamming others will result in permanent account termination. No exceptions.
  • Respect proprietary information and confidentiality.
  • Respect your audience. No ethnic slurs, obscenity or name calling please.
  • No promissory language. Not only do our regulatory bodies frown upon this, it's also unethical.
  • No flaming.

AutoCopy

To link your trading account to www.eFirmz.com, visit Settings -> Account Link and click Add Account.

AutoCopy is a system that allows you to automatically copy trades from a chosen group of traders. To use AutoCopy, find the account of the trader that you wish to copy and click "Add to AutoCopy", or use the Traders page to filter traders by a certain criteria.

As a Investor, APPs platform allows to build your experience by following experienced traders with an established track record.

As a Investor, you can add Professional Traders' accounts to your AutoCopy Investment portfolio from either from the Traders page or from your Profile - AutoCopying section.

When adding an account to AutoCopy, you need to select several parameters such as lot size, maximum open lots and maximum open trades. Just as importantly, you need to select which fee model from those offered by the Signal Provider on the given account you want to follow.

The possible models are:

  • Commission Per trade - you will be charged a fixed amount on each AutoCopied trade.
  • Commission Per lot (single leg) - you will be charged a fixed amount based on each lot you AutoCopy. The formula is the Commission amount per lot * Number of lots. For example, if the fee is 2.00 USD and you AutoCopy 1.14 lots, your fee is 2.00*1.14 = 2.28 USD
  • Monthly Subscription - this is a monthly subscription to AutoCopy all trades during a month without incurring any additional costs. Subscription fees are charged at the beginning of your subscription period. You can cancel the subscription any time and a pro-rata amount will be returned to your Tokens; however cancellations are subject to a penalty equivalent to 3 days of the subscription fee
  • Free Trial to new copiers  The amount of days available with no fee of the signal providers trade signals. It will be automatically applied to your new AutoCopied accounts.
  • No Fee - if offered by the Signal Provider, no fees will be charged for your AutoCopying

In case a Professional changes his supported fee models or increases his fee structure, you will be alerted by email with a link that you will need to confirm. If you do not confirm, the AutoCopying will be canceled 3 days later. For subscriptions, the new model will be applied when the current subscription period expires.

AutoCopying traders comprise risks. It is your responsibility to perform due diligence on the traders you wish to AutoCopy as well follow necessary Risk management techniques.

APPs is free to use, but if you want to AutoCopy traders there may be a fee involved. You can see each traders fee model under their profile. If you see multiple fee models, you have the option to select which fee model you prefer.

Orphan trades are trades that can no longer be tracked by a source account (account that triggered your trade).

This can happen for various reasons:

  • Your account was offline when the person whose trades you were copying closed the trade
  • Your broker rejected the request or failed to process it
  • The account of the person you were copying was offline when the trade was closed

Orphan trades are indicated by a special icon in your Trading Activity section. If "Auto-Close Orphan Trades" is enabled, these trades will be automatically closed when detected. If this function is disabled or if you remove a trader from your portfolio, you are responsible for manually closing these trades at your discretion.

Yes, AutoCopy manages trades that are placed through this system only. Any other trades, manual or automatic are not touched by the AutoCopy system. It is your responsibility to determine whether your robots get along with other systems.

As an added bonus, you can track the performance of your robots by assigning a unique magic number (usually available in EA inputs). The results of trades placed by your EA are shown as "Other (EA)" in the performance report.

Often times issues related to AutoCopy can be resolved by looking at the transactions log. There you will find a log of all attempts by the AutoCopy to copy a trade into your linked account along with the status and relevant description of the transaction.

Some of the common errors are:

  • Failed to place trade. off quotes - this is a one-size-fits-all error message returned by the broker that can mean a variety of things. Please check with your broker.
  • Ticket: [number] failed to close. common error or no error or unknown error- another one-size-fits-all error message returned by the broker. Please check with your broker.
  • Ticket: [number] failed to close. invalid ticket - the AutoCopy system was not able to close this ticked because it was most likely closed before (either manually or by the close-orphans function). Please verify that this ticket is not open on your account and if needed, close it manually.
  • Not enough tokens to AutoCopy trade - please add more Tokens to your account to be able to continue AutoCopying your chosen Signal Providers
  • Failed to place trade. hedging is prohibited - your broker does not allow placing a trade in a symbol where there is already an open trade in another direction (hedging).
  • Failed to place trade. unknown symbol - your broker doesn't support trades in this symbol (currency pair etc).
  • Trade copy failed due to timeout of over 60 seconds. - the Signal Provider's trade failed to replicate on your account within 60 seconds and therefore the AutoCopy system refused it (the trade would have happened under significantly different market conditions than on the Signal Provider's account, due to the time lag).
  • Failed to place trade. market is closed - attempted to place a trade during the market's off hours.


Performance Statistics

The Leaderboard lists the top 10 traders based on their Return in two different time periods - This Week and This Month.

The weekly period starts when markets open on Monday in Asian trading and ends on Friday evening after the close of the trading.
The monthly period starts on the 1st of the current month and ends on the last day of the month.

Return (as further explained below) is calculated as total Realized and Unrealized Profit over Average account Equity in the given time period.

Besides having a good return, two additional conditions must be fulfilled for an account to appear on the Leaderboard:

  • Account must have been synchronized 
  • Account must have a positive total number of pips generated in the given time period
  • Account's equity must be larger than $100 on average during the period

We currently calculate 4 different types of returns:

  • Return - this is the main performance measure and is calculated as a Sum of Realized and Unrealized Profit over Average Equity in the given time period.

  • (Realized and Unrealized Profit) / Avg (Equity)

    The calculations and account equity snapshots are performed every 15 minutes. As is the case with most other statistics, the more frequently the account is kept online, the more accurate the measures are.
  • Normalized Return - is similar to Return, however with an assumption that all account's trades were done using the same lot sizes. This return is then immune to the variability in trade sizes, and considers the contribution of each trade to the overall return with the same weight.

As an example, consider a series of trades on an account:

  • One 5-lot trade, with a return of 10%
  • Ten 0.01-lot trades, with a negative return of -10% each

In the case of the Return, the overall account return would be:

(5 * 10% + 10 * 0.01 * (-10%)) / (5+10*0.01) = 9.6%

As you can see, the overall return would be almost wholly determined by the 1 large trade.

On the other hand, the Normalized Return assigns the same weight to each individual trade and thus the resulting overall Normalized Return would be:

(10% + 10 * (-10%))/ 11 = -8.2%

  • Return - this is the main performance measure and is calculated as a Sum of Realized and Unrealized Profit over Average Equity in the given time period.

  • (Realized and Unrealized Profit) / Sum (Deposits)

  • RR - Internal Rate of Return - is calculated iteratively and is defined as follows:

  • "The calculations and account equity snapshots are performed every 15 minutes. As is the case with most other statistics, the more frequently the account is kept online, the more accurate the measures are."

Positive cash flows are the Profits generated from trading and Withdrawals from the account. Negative cash flows are Losses generated from trading and Deposits to the account.

The shortcoming of this method that sometimes the IRR function returns no value (or a value that is outside of the scope for normal return values). This happens frequently with accounts that have a very limited history (recently created or recently connected accounts).

Drawdown is a measure of the maximum peak-to-trough loss in equity suffered by the account over its history.

Technically it is determined as a maximum difference between equity at a point in time called local maximum and a subsequent equity point called local minimum. Note that the local maximum and local minimum do not necessarily correspond to the historically highest and lowest equity points for the give account.

Let's illustrate this on an example. Here is a chart showing an time series evolution of a sample account equity (in 15 minute intervals):

The Drawdown is determined as a maximum difference between 2 subsequent points on this chart. The first point is called Local maximum, the second Local minimum. No other 2 subsequent points on the chart have a bigger difference in value than these 2 points.

The difference in value between Local maximum and Local minimum is called an Maximum Drawdown. Another measure, a Relative Drawdown is calculated as Maximum Drawdown over the value of Local maximum.

Deposits and Withdrawals to and from the account should not influence the Drawdown calculations. However this is dependent on these external flows being correctly recorded by the broker and fed to the MT server with the correct dates. It sometimes happens that after an external flow (Deposit or Withdrawal) occurs, the broker only records it several days after the actual date. In these cases, the correction for the external flows will not be correctly applied and a new Local maximum or Local minimum can erroneously be created.

These are different risk measures reflecting the variability of the account's returns.

The Volatility is measured as a standard deviation of the account's daily returns.

Value at Risk (or VaR) is a measure of the risk of investments. It estimates how much a set of investments might lose, given normal market conditions, in a set time period.

Specifically we compute a parametric VaR with a 95% confidence interval over a period of 1 day. What this means is that this measure shows how much of the account's equity is likely to be lost given the account's historical return and volatility data on a day, defined as the 5th worst day out of 100 trading days.

Sharpe Ratio is a measure of a risk adjusted return, i.e. how much return the account generated over a unit of risk. The ratio is thus calculated as Return over Volatility.

Online Frequency measures how often a member's linked account is connected to their APPs profile -- which is checked every 15 minutes by APPs. Accounts linked less than 24 hours ago don't have the Online Frequency displayed. The indicator is displayed as a percentage.