Imagine situation when I have subscribed to one of the Signal Providers from Trader Contest and that trader opened an order, which I have copied.
What happens to this order once I unsubscribe from that Signal Provider? Would it be closed at market, or will stay till it is closed by SL or TP?
Is there any (legal) way to close those trades manually?
Thanks for your help.
1. What happens to this order once I unsubscribe from that Signal Provider? Would it be closed at market, or will stay till it is closed by SL or TP?
"When unsubscribing from a Signal Provider, all followed orders/positions will be automatically closed at current market prices."
Source: https://www.dukascopy.com/wiki/#Social_Signal_Trading
2. Is there any (legal) way to close those trades manually?
Even though Social Trading Contest rules don't explicitly forbid manual trading (opening, closing, managing positions), such practice is not recommended and you might get penalized for that.
You can unsubscribe from a provider but keep in mind that that would close all the trades that were opened based on his signals.
More information:
https://www.dukascopy.com/fxcomm/social_trading/?action=rules
https://www.dukascopy.com/fxcomm/?page=News§ion=14
The order from the signal provider will remain open after unsubscribe till it hits TL/Sl or you can even close manually by logging into your MT4/MT5 account.