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Connecting IG subscribers to new trading bot


Speedbird168l

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Hope someone can help. I have invested in the developing of a trading bot which I would like to offer to IG clients as a subscriber-based service. It is a stand-alone running a script via the IG API, not a plugin to Meta Trader or downloadable application. To connect it will require clients to provide their usernames and password for API key retrieval and connection. I would imagine this will be problematic. Is there another way to onboard/connect subscribers who want to make use of the service?

 

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14 hours ago, Speedbird168l said:

Is there another way to onboard/connect subscribers who want to make use of the service?

Be careful, @Speedbird168l. Most jurisdictions (countries) require certification and/or licensing order to provide live trading advice, and direct control over trading others' capital is beyond mere advice.

The US NFA, UK FCA, and EU EFPA all hunt down illegal advisers and brokers. This is why Metaquotes clearly states that all mql5 Market products are for demo trading only, and MT4 and MT5 allow client side switching between demo and live accounts. They walk a fine line but its within a legal loophole.

As most broker-dealers maintain distinctly different action requests for live API access versus demo API access, and if you handle the type of action request for other traders' accounts, this would be risky at best.

The mql5 Market supports a Signals Service, again for "demo purposes." You could register as a Seller there, and pipe your script's actions into MT4 via a bridge (say, via Python), code a system library within MT4 to directly connect your script to MT4, or embed your script into a MT4 Expert Advisor.

Of course, all of this assumes that you're not already certified/licensed.

LEGAL DISCLAIMER: Nothing in this post may be construed to be legal advice. The poster is not a licensed attorney. For legal advice advice regarding any specific situation, you should consult a licensed professional attorney in your jurisdiction(s).

Edited by JohnnyRy
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Check with your programmer if they're capable to make it possible within trading bot. I've been messaging one guy while back on fiverr or upwork who said that he can make it happen. I didn't go into details with him as it was beyond the scope of what I was looking for back then.

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