Best Forex Signals

olegas Feb 11, 2021 / 218 Views

Many well-known brokers in the Forex market offer their clients an additional service in the form of delivery of trading signals. In addition to brokers, many well-known Internet sites and blogs (which are often run by practicing traders) offer their trading signals. Some provide trading signals for free, others for a fee. Brokers are usually ready to provide signals provided that a trading account is opened and replenished with them.

What is a trading signal? This is simply information about when, for what financial instrument and in what direction a position should be opened. It is understood that the provider of trading signals conducts a serious analysis of the market, on the basis of which it issues signals.

Best Forex Signal Providers 2021

Here is a short list of the best forex signal providers on the market.

Learn 2 Trade - Best All-In-One Forex Signals Service
1000pip Builder - Best for Mentoring
Etoro - Automated copy trading
CryptoRocket is a commission-free trading platform.
Daily Forex signal - several take profit targets.
ForexSignals.com has an excellent reputation in the signals market.

Review of trading signals in Metatrader 4

Returning to the question of where to get really high-quality trading signals, we suggest that you familiarize yourself with the capabilities of the MT4 platform. The terminal is equipped with a built-in set of software, which, according to most traders, is very effective.

In the bottom navigation menu there is a “Signals” tab. Clicking on it will take you to the rating of signal providers. Opposite each program are its characteristics, capabilities and functionality. The list contains only verified dealers of trading signals.

Some of the most interesting information includes:

supplier balance growth chart;
the amount of funds on the trading deposit;
percentage of profit growth and time for which analytics is carried out;
Profit Factor;
subscription price.

The most important indicator is Profit Factor. It shows the difference between profit and loss. The higher the ratio, the more effective the signal is.

By going to the trading signal you like, you can get additional information on the financial data of its creator. In particular, a detailed graph of income and losses is presented.

An important parameter is the current and projected amount of income. Most signals allow you to earn from 5% to 30%, respectively, the annual profitability will be from 80% to 300%.

But it is important to understand that forecasts do not always come true, so when choosing trading signals, focus on those that allow the trader to regularly take profits for six months or more.

What are the Forex signals?

In their most basic form, forex signals are trading propositions that allow you to place buy and sell orders without doing your own research. Instead, you will sign up with a forex signal provider that scans the markets on your behalf.

This usually occurs in one of two forms - human or automatic. For the former, this is where an experienced trader will conduct manual research and then send you their findings.

For example, they may detect that GBP/USD is heavily overbought and subsequently suggest that you place a sell order at a suitable price.

In the case of automated Forex signals, the research is performed according to a pre-prepared algorithm. This allows the system to scan thousands of potential scenarios across dozens of pairs every second. Then, when the algorithm detects a potential trading opportunity, it forwards the signal to its subscribers.

Forex Signal Factory

Forex Signal Factory provides Forex trading signals to traders from all over the world. The platform has over 7,290 members and they provide between 5,000 and 15,000 monthly pips

The Forex Signals Factory team shares a wide range of forex market trades with users, including XAU/USD, USD/JPY and GBP/USD. They also manage user accounts with a minimum capital of $10,000 and a leverage of 1:500.

Every time they give signals, they communicate different take profit levels so that users can exit or use a clear strategy. They also provide other paid services that are good for more advanced users and traders.

Starting trading with trading signal providers is a good way to understand the market and how currency pairs fluctuate over time. Experienced traders can get the confirmation they are looking for if they follow these signals.

Supported exchanges: FX
Supported languages: English
Reports: no
Trading period: short, medium, long

What do Forex signals look like in real time?

In short, the best forex signal providers will send you trading proposals containing five key pieces of information. This ensures that you have all the information you need to act on the trade proposal while avoiding risk.

To clear up the fog, let's look at what a trading signal typically looks like:

Pair: AUD/USD
Order: Sell order
Introduction:
0.7250
Stop losses: 0.7290
Take-Profit: 0.7150

As you can see from the above, the forex signals service provides everything you need to place your order. Let's look at what each indicator means in more detail.

pair

This refers to the specific pair that the forex signal is related to. In the vast majority of cases, the best forex signal providers stick to major and minor pairs.

This ensures that the pair in question has significant liquidity and does not suffer from volatile trading conditions. Using major/minor pairs also ensures that you can trade with tight spreads.

Record

This is potentially the most important information you will need from a forex signal. After all, if you don't know what price to trade at, the signal is virtually useless. We often find that "free" forex signal providers block the required entry price. In other words, you need to pay a premium to get it.

Now, it is important to remember that you will need to place a "limit" order, not a "market" order, when you act on a signal. This ensures that your order will be fulfilled at the exact price offered by the supplier.

For example:

Let's assume that the AUD/USD price is now 0.7240.
The trade offer has an entry price of 0.7250.
Once the order is placed, it will only be triggered if the AUD/USD rate reaches 0.7250.
If this does not happen, the order will remain on hold until cancelled.

It is important to note that many forex offers you receive from a provider can be manually cancelled, not least because the target entry price was not triggered. This is because the best providers only want to enter the market when trading conditions are favorable.

Stop-Loss

Just like the entry price, the stop loss price is very important in the forex signals market. For those who don't know, a stop loss allows you to automatically exit a losing trade.

For example:

Your entry price of 0.7250 on AUD/USD has been met, so the order is active.
You placed a sell order, so you want the price of the pair to fall.
However, the opposite happens, so you go further and further into the red.
But since you set a stop loss at 0.7290, your trade will be closed by the broker when this price is reached.

As you can see from the above, a stop loss ensures that you can trade risk-free by limiting the amount you can lose from a trade.

Take-Profit

The last indicator that the best forex signal providers will send you is the profit order. As the name suggests, it allows you to automatically record your trading profits. It works exactly the same as a stop loss, but in reverse.

Sometimes you find that the forex signal provider gives you two profit taking prices. This allows you to set your own trading goals based on your risk versus reward profile.

It might look like this:

Take-Profit 1: 0.7150
Take-Profit 2: 0.7120

As you can see, for a short sell order on AUD/USD, the conservative profit target is 0.7150. However, for those of you who want to achieve greater profits, the second take profit target is 30 pips lower. With that said, you have the choice to set your own take profit price somewhere in between the two goals.

How to use signals

It's better not to use it. But if you really want to, remember - a signal is a direction, not a stimulus to action.

Next, look at the live chart and use regular trade lines and support/resistance to check the direction of the signal.

Example: signal confirmation with the Stochastic indicator

Select the Stochastik indicator in the live chart.

Signal “actively sell” (Down or PUT) : wait until the Stochastic lines from above touch the colored area.
Signal “actively buy” (Up or CALL): the same thing, but from below.

Stochastic also perfectly complements price action and serves as a good assistant for technical analysis practitioners. The stochastic readings must coincide with the direction of the signal.

How do Forex trading signals work?

So now that you know what forex signals look like, we now need to learn how the basic process works. That is, how do forex signal providers actually get their information? Crucially, this comes in one of two forms—human analysis or an automated algorithm.

Human Analysis

This particular type of forex signal service is a rarity in the online space. This is due to the fact that human analysis is far inferior to the capabilities of an automated algorithm. However, the service provider will usually be run by an experienced forex trader who has extensive experience in the field.

They will manually examine the foreign exchange markets using a combination of fundamental and technical analysis. Then, when a potential trading opportunity is found, the trader will disseminate his findings.

Automated algorithm

In the vast majority of cases, the forex signal provider you choose will use an automatic algorithm to find trading opportunities. The underlying technology will likely be supported by artificial intelligence and/or machine learning, as well as technical indicators.

The general consensus is that automated algorithms are significantly more efficient than forex markets because:

There is no limit to the number of pairs that an automated algorithm can analyze simultaneously. This ensures that you have access to forex signals from a wide variety of pairs.
Unlike human traders, automated algorithms can scan the forex markets 24 hours a day, 7 days a week.
Automated algorithms follow predefined conditions. Therefore, he does not make irrational decisions and does not suffer from emotions. There is also no risk of overwork.

The best forex signal providers will regularly tweak and change their automated algorithms. This ensures that the system can remain ahead of the curve in the ever-changing global currency scene.

Semi-automatic or fully automatic?

Additionally, you also need to consider whether the forex signal provider you choose offers fully automated or semi-automated services.

Semi-automatic: Most forex signal providers offer semi-automatic services. This simply means that you will receive a forex signal and then you will need to place the trade yourself with the forex broker of your choice.
Fully Automated: You may also come across a fully automated forex signal service. This means that the platform you choose will place trades on your behalf.

We would prefer to avoid a fully automated provider since you do not have the ability to personally evaluate the signal, nor do you get to choose which broker to place trades with.

GreenPips

GreenPips is a Forex group on Telegram that provides signals for the foreign exchange market. They provide a wide range of services including Copy Trading which is great for beginners, account management, 50 to 100 pips per day and 500 pips per week.

They also offer one-on-one mentoring and gold trading.

Supported exchanges: FX
Supported languages: English
Reports: no
Trading period: short, medium, long

Best Forex Signal Providers 2021

No matter how good the forex signal providers are, the main problem is knowing which service to subscribe to. After all, there are literally hundreds of options available on the market. In truth, most of these providers are nothing more than scams, not least because trading results rarely live up to the platform's bold claims.

With this in mind, we are going to discuss some of the best forex signal providers that are currently offering their services online. As always, make sure you do your research before signing up with a new provider.

Learn 2 Trade - The Best All-In-One Forex Signals Service

Learn 2 Trade is a UK-based forex and cryptocurrency education platform that provides a wealth of guides on all things trading. Since then, he has retained the services of some of the brightest traders on the forex scene. In turn, Learn 2 Trade now offers a full-fledged Forex signals service. It uses the power of artificial intelligence and machine learning to scan the foreign exchange markets around the clock.

At the same time, subscribers are accustomed to trading offers when the algorithm detects a potential earning opportunity. This applies to major and minor currency pairs, as well as a number of digital currencies such as Bitcoin and Ethereum. To ensure that subscribers receive real-time trading signals, Learn 2 Trade distributes its results via Telegram. This is very important because signals often need to be placed quickly to avoid missing an opportunity.

Tariff plan type Price Cost / month

1 month: £35
3 months: £65 (£21.66 per month)
6 months: £95 (£15.83 per month)
Lifetime Access: £250

Each signal contains all the necessary information to execute a sentence. This includes the corresponding entry, stop loss and take profit targets. This way you have the opportunity to choose your own broker. When it comes to pricing, Learn 2 Trade offers two options. First, you can choose a free plan that provides 3 signals per week. This allows you to become more familiar with the platform before making a long-term commitment.

If you want to take advantage of Learn 2 Trade's full signal service, its Premium plan offers 3 to 5 signals, 5 days a week. It does come at a cost, though at just over $14 per month if you sign up for a 6-month plan. Additionally, you can join the premium signals service on an ongoing basis for just $25 per month. If you want to take your forex trading to the next level, this may be a drop in the bucket.

Our rating

Excellent reputation in the Forex signals market
Signals are sent in real time via Telegram
Premium plan from $14/month

Focused solely on forex/cryptocurrency - no other asset classes supported

Visit Learn 2 Trade

1000pip Builder Forex Signals - Excellent Performance and Mentoring

There is no doubt that 1000pip Builder is one of the best Forex signal providers available. They have been helping traders for many years and are highly respected by experts and participants alike. A quick look at their TrustPilot ratings will show that they have a huge number of 5-star ratings from satisfied members.

1000pip Builder is considered a “pure” Forex signal provider. This means that they focus on providing clear Forex signals with entry price, stop loss and take profit values. They have some training material, but they focus on getting the best possible signals and maximum profits. 1000pip Builder's historical testing results have been outstanding, and most importantly, its performance has been independently verified by MyFXBook. This is a huge advantage for 1000pip Builder because very few Forex signal providers can prove their effectiveness. When choosing a Forex signals provider, it is important that you see some evidence that they can achieve the results they claim.

Apart from the very good results, the main reason for the popularity of 1000pip Builder is the personal support offered by the lead trader - Bob James. This kind of support and mentorship truly puts 1000pip Builder head and shoulders above other Forex signal providers. Unlike many Forex signal providers, you will be in daily contact with the lead trader and can ask any questions you want. This type of support is rare to find from any Forex signal provider and can make a huge difference to your success.

If you are looking for the best Forex signals with ongoing expert support, we are confident that 1000pip Builder is your best choice. This month is an especially good time to join because their best membership plan is offering a special 57% discount. So register now and get the best Forex signals at the best price.

Our rating

Extremely high performance
MyFXBook verified results
Excellent support and mentoring
5 stars in Trust Pilot
Signals sent via Telegram app, email and SMS

Visit 1000pip Builder now

eToro - Automated copy trading

eToro is an online broker that offers a variety of financial instruments. Besides forex and cryptocurrencies, this also includes stocks, ETFs, solid metals, energy and more. When it comes to automated forex services, the platform offers a somewhat unique feature - copy trading.

In short, eToro's copy trade feature allows you to select an experienced forex trader and then copy their trades in the same way. With over 12 million investors using the platform, you're sure to find a trader that fits your long-term investment goals. For example, you can evaluate the types of currencies a trader likes to focus on, how much risk they typically take, maximum drawdown levels, and the average time a position remains open.

Once you find a trader you like, you can choose to copy all future trades. This is very useful for those of you who want to benefit from forex signals but don't have time to act on every suggestion. It should be noted that you will be using the services of a direct broker by choosing eToro. However, the platform is highly regulated, with FCA, ASIC and CySEC licenses. It also allows you to trade commission-free.

This ensures that your trading costs are kept to a minimum. The best thing is that you can invest as little as $200 with the forex trader of your choice. This way, you can easily build a portfolio of traders to help diversify your risk. To get started, you simply need to open an account with a broker and make a minimum deposit of $200. You can do this using a debit/credit card, e-wallet or bank transfer.

Our rating

Mirror the trades of an experienced forex investor
Heavily regulated by tier 1 licensing authorities
Get started with a copy trading investment of just $200

You will not have the opportunity to personally evaluate every trading decision, since everything is automated

Visit eToro now

Disclaimer: 75% of retail investor accounts lose money when trading CFDs. with this provider

CryptoRocket - commission-free trading platform

Although CryptoRocket does not offer forex signal services, it is on our list because you will need to use an online broker if you want to act on trading offers. That is, once you receive a signal from your chosen signal provider, you will need to place the required order using a top-notch trading platform. At the forefront is CryptoRocket, an online broker that allows you to trade without commission.

This will ensure that you can maximize your profits from the forex signal without having your profits eaten up by excessive fees. The platform has over 55 currency pairs covering all major and minor ones. This means you won't have any problem taking action on a forex signal offer as most providers focus on major/minor pairs. You will also have the opportunity to trade 35 cryptocurrency pairs, 64 stocks and 11 indices.

An additional advantage of CryptoRocket is that the platform offers huge leverage limits. This amounts to up to 1:500 if you are a professional trader, and less if you are considered a retail client. CryptoRocket is also popular for its same-day withdrawal policy. This is in stark contrast to other brokers in this space, which often take 1-2 business days to process withdrawal requests.

Our rating

Private and secure trading system
CryptoRocket - STP (Straight Through Processing) broker
Offers same day withdrawals

CryptoRocket does not offer commodities or ETFs.

Visit CryptRocket now

Daily Forex Signal - Multiple Profit Target Levels

Daily Forex Signal is a mobile app based forex signal service. This is suitable for those of you who want to receive forex signals directly to your phone. Once the signal is sent, you will be presented with all the necessary entry and exit prices to act on the offer in real time. This includes this all-important entry price, as well as a suggested stop loss price to reduce your losses.

Best of all, what makes Daily Forex Signal stand out is that you will get two take profit targets. If you choose a lower goal, it means you will take less risk and chase smaller returns. A higher goal gives you the opportunity to make more money, although the risk is slightly higher. This means that Daily Forex Signal suits risk profiles of all shapes and sizes.

According to the app developers, Daily Forex Signal receives its suggestions through technical analysis. First of all, this is the daily break point. The provider makes it clear that users still need to understand fundamental analysis, as this is something that the signaling technology will not be able to take into account. Finally, the app aims to make a profit of 100 pips within a month.

Our rating

Receive Forex signals via mobile application
Focuses on technical indicators such as daily pivot breakpoint
Targets 100+ points per month

You need to know fundamental analysis

Visit Daily Forex Signal now

ForexSignals.com - excellent reputation in the signals market

When it comes to exposure, ForexSignals.com is potentially one of the most renowned providers in this space. What we really like about the platform is that it offers so much more than just signals. On the contrary, it provides a one-stop all-in-one forex education tool. That is, rather than simply sending you a signal, ForexSignals.com aims to teach you what you need to know so that you can one day find the signals yourself.

In other words, the platform makes it clear that relying on other people's suggestions will not get you the long-term results you want. Instead, you should learn to analyze the markets yourself so that you can use your own trading strategies. When it comes to the signals themselves, ForexSignals.com takes a slightly different approach compared to other providers in the space.

This is because it is home to a family of experienced traders, each with their own suggestions. That is, you will have the opportunity to follow a trader you like and then act in accordance with his signals. This is very important because different traders have different strategies. For example, while some focus on day trading, others take a more flexible approach through swing trading.

Regarding fees, ForexSignals.com initially offers all account holders a 7-day trial. Although you will be prompted to enter your payment details, you will not be charged until your one-week trial period has ended. This way, you can cancel your subscription at any time to avoid being charged. After this, ForexSignals.com will be quite expensive, but you will get a lot for your money. It starts at $97 per month, although you can lower that amount if you sign up for a longer package.

Our rating

One of the most famous forex signal providers in the world
Teaches everything you need to know about forex trading
Receive forex signals from your chosen expert trader

The monthly package costs $97 per month.

Visit ForexSignals.com now

Signal sources

investing.com has 6 main signal tools on its website:

technical review;
technical analysis of a currency pair;
classic turning points;
simple moving averages;
Forex technical indicators;
graphic models.

Let's go over them.

Technical overview

The table allows you to set up quotes not only for currency pairs (forex), but also for indices, stocks, commodities and futures. These signals look like this:

The principle of their use in binary options is extremely simple.

The signal we need should be specified as:

actively sell (buy the PUT or “ Below ” option);
actively buy (buy a CALL or “ Higher ” option).

Now in the table with signals, select the column with the desired interval, and place it on the live chart. If you choose 5 minutes, then enter the trade for 30-45 minutes. If 15 minutes - for an hour. If it's an hour - until the end of the day.

If “active buy” or “active sell” is indicated for all time frames, this is the strongest signal.

Signals based on technical review

Technical analysis

If in the first case we receive a ready-made recipe, then on this page you see all the ins and outs of it. For the selected currency pair, all the criteria by which this signal is provided are presented.

And below are the turning points for different systems, many technical indicators and even ordinary moving averages. And all this diversity allows you to get a verdict in the form of a signal whether to sell or buy. An excellent option for those who do not want to litter their chart with too many indicators - everything is ready for you here.

All that remains is to select the desired expiration time and you can start trading. As always, the “strong sell” or “strong buy” signal deserves the most attention.

Signals based on technical analysis

Pivot Points

If you are trading using support and resistance lines - and it is highly advisable for you to do this - then investment analysts have already done the lion's share of the work for you.

The pivot point indicates the price at which a market reversal and trend change are expected. Draw a support or resistance line at this price level and your trading will take on a new dimension.

Signals with turning points

Moving averages

And this is generally the most basic, even fundamental tool. A good half of all indicators are based on moving averages. But the good guys from investing use SMA (simple moving average) so that we don’t even need to overlay it on the chart.

Using this graph, you can judge the behavior of a couple in a certain period of time. Let's say SMA 200 is suitable for buying binary options at the end of the day, and SMA 5 is suitable for 15-25 minutes.

Signals based on moving averages

Technical indicators

Well, here the most popular technical indicators that traders use in Forex come into play for the selected asset. Well, all the faces are familiar, from Stochastic and MACD to ADX and Williams.

As usual, our signal is “active sell” or “active buy”. Well, if there are too many neutral meanings, why do we need such a fruit? We ignore him.

Signals for technical indicators

Graphic models

Dedicated to fans of the fundamental Dow theory. Why draw such familiar figures to all traders as “head and shoulders” or “flag” yourself, if the software from Autochartist will do it for us?

In general, these same signals can be obtained using a plugin from Autochartist for the MetaTrader platform, provided that you work through a broker. Well, here they are available directly on the site. Pay attention to the quality coefficient; the closer it is to one, the more significant the figure forecast.

Of course, by now you should already understand what these figures mean, if not, it’s time to read about them.

Signals based on graphical patterns

Free Forex Signals vs Paid Signals

So now that we have explored the best forex signal providers in 2021, we need to discuss the costs involved. That is, some providers offer free forex signals without registration, while others offer their services on a subscription basis.

To help clear the fog as to which option you should consider, we're going to look at what free/paid signaling services typically offer.

Free Forex signals

Simply put, by using a free forex signals service, you will receive trading offers without having to sign up for a plan. Instead, everything is sent for free.

Now, as we briefly covered earlier, it is common practice for “free” forex signal platforms to “black out” the key information included with the offer.

For example, you might receive a signal like this:

Pair: GBP/USD
Order: Purchase
Intro: 1.xxxx
Stop losses: 1.xxxx
Take-Loss: 1.2905

As you can see from the above, you know that you need to place a buy order on GBP/USD, and that your take profit target is 1.2905. However, the free forex signal provider hid the entry price and stop loss price.

As a result, the forex signal is useless since you don't know what price to take the trade at and you don't have the required stop loss price to reduce your risks! And of course, if you want to get these two key information prices, you will need to pay a fee. So the forex signal is not “free” as the provider said.

However, not all free Forex providers work this way. On the contrary, some offer completely free online forex signals with real service that requires no hidden fees or upgrades.

But you have to ask yourself, why would someone spend years creating an automated algorithm just to give it away for free?

Try before you buy

We must refer to the Learn 2 Trade platform, not least because, for all intents and purposes, it offers high-quality free services. As we said earlier, this will give you the same service as its premium plan, although you will only receive 3 signals per week.

This allows you to test the signal service before making a financial commitment. Then, if you are confident that the product meets your expectations, you can upgrade to a premium account to receive 3-5 signals each. day.

Paid Forex signals

In the vast majority of cases, paid signals take the form of a subscription. This means that you will need to pay a monthly fee to continue using the provider. For example, you may be required to pay $50 per month, which is automatically charged to your payment method until you cancel it. In some cases, you may encounter a provider that charges a “one-time fee.”

We strongly recommend avoiding such suppliers. The reason for this is that once the provider has taken your money, they have no financial interest in keeping you happy. In other words, the provider has no incentive to ensure that its signals will continue to outperform the market because it has no way of making more money from you.

Most importantly, those with monthly subscriptions must ensure they stay ahead of the curve. Otherwise, they will lose their subscription very quickly. To do this, they will constantly make changes to the main algorithm.

What are trading signals and what are they for?

The classic approach to trading involves market analysis. It is carried out on the basis of studying fundamental indicators, which include:

news background;
the state of affairs in the international economy;
dollar exchange rate and stability;
seasonal factors.

We will determine whether trading signals are really worth trusting and how to use this tool correctly so as not to become another victim of a robot.

The second option is technical analysis, which is performed by studying rate quote charts. It is believed that the market is cyclical, so charts allow you to predict the trend that will be relevant for the asset.

For calculations, complex mathematical formulas are used, which are not always easy for an ordinary trader to understand and learn to accept. To simplify the process, trading signals were invented.

Simply put, chart analysis is monitored by special robots, which, based on chart data, suggest when to buy an asset and when to sell.

Since a favorable moment is highlighted on the chart and, as a rule, accompanied by an audio or text message, the technique is called trading signals.

With their help, it is much easier for a trader to understand the market situation and does not need to spend a lot of time on mathematical calculations. Signals allow you to trade almost fully automatically and can bring very high profits.

This happens because the time gaps between closing and opening orders are minimal. Within one trading session, a trader has the opportunity to make several transactions at once and take profit from them.

At the same time, not everything is so simple and smooth, otherwise everyone would trade only for profit, and the market would simply have no room left for speculation.

Forex Signal UK

If you are in the UK and want to use high-quality forex signals, then it is best to use providers who operate within the country. As we'll look at in more detail below, this is because the signal provider offers the appropriate time zone.

For example, it's not a good idea to sign up with a provider based in Washington, not least because the US state is 8 hours behind the UK.
In turn, this means that the majority of your live forex signals will be sent at night.
If you don't plan on waking up at ungodly hours, you'll want to use a UK forex signal service.

At the forefront of this is UK signal provider Learn 2 Trade. You will receive the vast majority of offers during UK standard hours, with a few exceptions. We say this because the Learn 2 Trade algorithm constantly scans the foreign exchange markets and thus works 24/7. This way, you can receive random signals outside of standard hours if a profit opportunity presents itself.

Signals: stay tuned

Pay special attention to the “ Economic Calendar Signals ”. Experienced traders know that there is no stronger factor influencing the exchange rate than economic news.

Therefore, pay special attention to signals with two and three bullish heads, also known as news with moderate and high volatility. When a signal has high volatility, it will definitely affect the behavior of the currency pair.

Compare the value from the "Forecast" column with the previous value from the "Previous" column. As a rule, if this value is higher, it is a hint of currency strengthening.

Often the market demonstrates completely irrational behavior and goes against the news. Therefore, it is better for beginners to skip strong “3-headed” news altogether.

How to Choose the Best Forex Signals Provider

So, now that we've covered the ins and outs of free and paid providers, we'll give you some helpful tips on how to choose a forex signal service yourself. After all, this industry is dominated by blush operators who make bold claims that will never come to fruition.

Below you'll find the most important considerations to make before parting with your money.

Proven Win Rate

When you come across a forex signal provider, the platform will often make bold claims about how much it can earn you. In most cases this is called "win percentage". In its most basic form, win percentage refers to the percentage of signals that are profitable. It goes without saying that the higher the winning percentage, the more successful the signal provider.

For example:

Let's say the signal provider has an average monthly winning percentage of 80%.
The provider sends 50 signals within a month
In theory, this means that 40 signals returned the profit.
Thus, 10 signals returned the loss.

There are two key points to make here. First, the win rate doesn't tell you how much you can earn. This is because everything depends on the profit/loss amount applicable to each trade.

For example, you might make a 2% profit on your first trade of the day, but then lose 3% on your second. If your bets remain the same, you will have lost more on your second trade than you made on your first.

Secondly, it is not bad for a provider to sell a winning percentage of 80%. However, how do you know if these statements are true? With this in mind, you need to find a way to test the validity of these claims. The most reliable suppliers will publish transparent records of their transactions so that they can be verified from third-party sources.

Prices

In the world of forex signals, you really do get what you pay for. That is, you should never contact a provider just because it offers inexpensive services. Once again, you need to take a step back and think about what's going on behind the scenes.

If you are using a vendor that has built their own automated algorithm, this would take many months or even years. The vendor in question will then need to continually amend and improve the algorithm to ensure it thrives in the markets.

As a result, those who charge higher monthly fees often do so to reflect the experience and dedication put into the product. At the other end of the spectrum, a provider that takes a somewhat "over-the-top" approach to the underlying algorithm and ongoing maintenance will likely offer both budget pricing and services.

Timezone

This is an indicator that is often overlooked by new traders, but it is nonetheless fundamental. So, when you use a forex signal service, providers often operate during standard market hours. For example, if you are using a UK provider, then the signals will most likely be distributed between 8:5 and 8:5 GMT.

However, if you are in California, this means that you will receive signals at unfavorable hours. As a result, you need to research what time zone the forex signal provider operates in. In an ideal world, you'll be using a supplier that's available 24/7, meaning you won't miss out on profit opportunities.

Are there accurate signals for binary options?

Let's summarize. There are different ways to receive signals - but is it really possible that, among all their diversity, there is not a single exact source of signals?

Sometimes such sources occur, very rarely. However, they only work in the hands of experienced analysts or traders who have spent several years correctly interpreting .

As a rule, these are American closed systems “for our own people.” All these systems will not help beginners. By themselves they don't do anything.

I want you to understand one simple thing. You need to look for signals only after you have learned to trade yourself.

Only then will they increase your efficiency, because you understand the basics of trading, read the chart, and know your trading systems. It is impossible to get stable results blindly, without practice, just by following signals. I can guarantee you this.

Any signals are designed to increase the efficiency of your trading and the number of successful transactions. But if this number is initially equal to 0, then do not multiply by 0, you will get the same zero.

Therefore, first:

master the live schedule ;
study Binary Options School.
and then the Price Action School.

And only then look for the alarm system. However, a small spoiler - in the end, you won't need them, and the thought of looking for some signals will make you laugh.

Pros and cons of Forex signals

pros

Trade the forex markets without knowing how currency trading works.
No need to conduct in-depth technical research
Take advantage of advanced automated algorithms
The best providers will continually tweak the underlying algorithm
You will be provided with all necessary prices for entry and exit.

Minuses

This space is dominated by fraudulent providers who make unverifiable claims.
The best providers charge a monthly fee

Forex Technical Analysis and Signals

Forex Technical Analysis and Signals is another site that provides Forex trading signals to clients in the market. This company rarely publishes signals, no more than once a month.

This channel has over 2,560 members and they share technical analysis for traders to be able to enter and exit the market at the best times and profit from their positions.

Supported exchanges: FX
Supported languages: English
Reports: no
Trading period: very few messages per month

Glossary of Forex terms

FAQ

Should I Use a Free Forex Signals Service?

If you spent years creating an algorithm that could consistently beat the forex market, would you give it away for free? Most importantly, this is why the best forex signal providers in the space charge a monthly fee.

What is the best forex signal service?

This question is quite difficult to answer as it depends on the type of service required. If you want to receive forex signals straight to your phone in real time, you might want to consider Learn 2 Trade.

Which Broker is Best for Forex Signals?

If you are looking for a Forex broker that will act on your signals, we recommend checking out eToro. The platform not only gives you access to dozens of currency pairs, but also allows you to trade commission-free.

How are Forex signals sent?

Some providers will send forex signals via email, while others use RSS feeds. Additionally, some providers use Telegram as it sends a notification to your phone the second time a signal is posted.

What winning percentage should you aim for?

It goes without saying that the higher the win rate, the more money you are going to make in the long run. In theory, a provider must have a win rate of at least 50% to remain profitable. However, you should target suppliers who are in the 70-90% range.

Are there Forex signals with stop loss and take profit?

Yes, the best forex signal providers will send you the required entry price, stop loss price and take profit price. This ensures that you have the information you need to trade risk-free.

How much do Forex signals cost?

The amount that forex signal providers charge can vary greatly. This goes from free service to over $100 per month.

Sure Shot Forex

Sure Shot Forex is an FX group on Telegram that provides trading signals and claims to earn an average of 1200 pips per month. Information is provided to 23,700 users.

They also offer users risk management, mentoring and training on a weekly basis. Additionally, they provide people with trading signals for a wide range of markets. At the same time, the owner of this group is always ready to answer the necessary questions from clients and users interested in these services.

Supported exchanges: FX
Supported languages: English
Reports: yes
Trading period: short, medium, long