Forex signals are a trade alert for the currency market. FX signals notify a trader to enter or exit the forex market. Forex trading signals services help traders place trades on a currency pair correctly. When entering the forex market, using a forex signal service can teach you the right strategy for entering and exiting the market, thus saving you time and energy during your initial investment period. A good forex signal will help you increase your profits while minimizing your losses.
Finding trustworthy forex signal services is the hardest part. To help you we have put together this review on the top 15 forex signals providers. Free signals and paid plans help both beginner traders and professional traders to understand entry price, exit points and the profit target for forex trades. This review will help you gain a better understanding of forex signals services so you can make a choice of the right signals services for your forex trading.
Remember, it's always a good idea to try a signals provider on a demo account to make sure you understand the trade set up and to gain confidence that the foreign exchange trade tips add value to your trades.
We can split forex Signals into 3 groups:
News trading signal providers send out quick news releases for the trader to gain maximum profit in a short time. The signals are accompanied by daily or weekly commentary and analysis to provide context.
Technical trading signals provide technical analysis or technical indicators that help you trust the track record of the signal provider. Technical forex signals, when combined with risk management strategies, can help you make consistent profits from the foreign exchange market.
General trading signals help you find the best forex trading signal. Forex signals can be sourced from companies that offer just signals services or from Forex brokers who provide the signals as an add on service. Forex brokers may offer such services free or charge a small fee for daily or long-term access.
Features of a good forex signals service
In in your search of a forex signal service, the following features must be prominent and consistently provided by the forex signal provider you choose.
Although no forex signal is 100% right, your forex signal provider must give you the right signal in the right trade, and provide you with time to get the trade on. The signals provided must be accurate enough to make a consistent profit. Whether that means it's right 50% of the time or 75% will depend on the trade and the profit expectations.
Your forex signal choice must provide a smooth running for your trades. The investment should be on autopilot to reduce the stress of manually checking up the winning trades and should reduce your decision making. The best providers only require your investment, while you await the profits.
Ease of use and understanding
Starting with or signing up to forex signal services should be easy and uncomplicated. Your intended signal provider should make the trade set ups straightforward and be clear on all aspects of their past trading performance. With verified statistics, a site with educational materials and proven profits, you can down the research tools and follow the signals almost as if you were copy/social trading.
Why you should consider using a forex signal service
Forex experts trading in major banks use forex trading signals as they give better returns on investment. And for the relatively small fees involved, a winning signal prevents the losses that are often incurred by a newbie trader. Consider the following in your decision to use forex signal services.
Forex signals provide an accessible second opinion that means none of the tough second guessing and mind games encountered by even veteran and expert Forex traders. Even traders with years of experience can benefit from a second opinion from other experts.
Greater overview of the Forex market
Forex signals should give you a quick overview of the ongoing market trends. This will influence your decision-making and guide your investments towards profit maximization.
Increased winning chances
You have an increased chance of winning trades, especially as a newbie trader that can’t properly interpret forex news and execute the trade with expert precision. Forex signals services handle the trade and provide a good guide for trade execution to increase your chances of profits on initial investments.
Better time management
Investing in forex signal saves you hours on forex analysis and it's accompanying stresses. The stress and mind games of making the right trade is undertaken by the forex signal service. All you do is cash your profits and spend time with your family.
Your choice and decision to use a forex signal service will depend on your trading plan, your personality, level of trade proficiency, available time for market analysis, your goals and trade expectations.
Forex Signals Provider Review
Here is a review of our top 15 forex services. There are two common denominators for forex signal service success: They are provided by professional forex traders and the fee is not normally cheap.
ForexSignalz was established by professional forex traders in 2011. They deliver forex signals on currency pairs. Using SMS and email, signals are sent out around midnight GMT and during London business hours. The signals are short, clear and concise. They aim to end every month in profit. It wins at least 65% of its trades.
ForexSignalz releases monthly ratings on its website, to ensure traders are comfortable, they offer a test service of 14 days for $1. The aim is to maximize profit while protecting the capital to ensure that new traders are comfortable with their service. They offer no guarantee on the number of signals sent per week, but they send 2 or 3 signals per week.
ForexSignals provide profit-making and educational signals with a high percentage of winning trade.
Zipsignals was founded in 2009 as a service that provides automatic trading signals for you to trade on your personal MetaTrader platform. The monthly fee varies from $50 to $370. You can choose one or more system but must subscribe to a Virtual Private Server that allows signal execution while on your computer and MetaTrader platform.
ZipSignals provide interesting statistics on signal providers called “ZipSignals Factor” that use monthly account return, drawdown, and service trading time to give signal providers a global score between zero and 100.
Based on your account size, they automatically set the trading lot size, although you can adjust it depending on your risk tolerance. Using a reputable broker will determine your success with zipsignal services as they only provide the infrastructure for signal execution in your account. ZipSignals provides a $1 fee 10 days trial, which you can use to ascertain the best broker for trading. Their services allow you to switch between different signal provider as they have a strong selection of signal providers.
Founded in 1999, they are an advisory service provider for traders in the financial market. They offer a one week, no credit card free trail for first-time users in forex trading. They provide daily swing trades to subscribers trading over short term. For each market session, at least 5 stock symbols are posted which includes reason for stock selection and potential position. The entries, targets and position updates are automatically updated on the user interface.
Training programs are also provided for forex markets traders by their expert team to improve your trading strategy. You can view the historical performance of the forex signal service by date or year.
You can take up the initial one-month subscription or multi-month subscription that includes a 50% discount.
Foresight FX was founded in 2013 as a web-based signal service. They offer daily signals and education on forex trading. The founder, Carlos Diaz, said his company only trades when the probability of winning is high.
They send an email daily directing subscribers to a page where they can obtain signals and informational statistics for each day. This informational signals and education are based on the market’s technical analysis. They also teach subscribers the methods used in producing the signals which help you become a better trader.
As a subscriber, you can access the video reviews on each day’s market action and performance signals for a previous day, recommended price zones to enter trader for each day, trading manual, how to use the MetaTrader platform, historical daily forecast videos.
They provide signals for 4 currencies and recommends trading in the most active forex market time-6am to 2pm. They may also offer “no trade” on a day as the goal is to be a 100% winning signal service.
Honest Forex Signals
Founded in 2011, the service registered with the Better Business Bureau in the United States as a guarantee of their services to intending subscribers. They offer trade copier and email alerts with over 90% success rate. Trades are provided either during the American session or the European session.
Keen understanding of the market and trading skills helps them have a high winning trade gain while minimising the losses. The service cost if $177 per month. The automatic trade copier is the best option as it attaches to the MetaTrader 4 Terminal.
Founded in 2014, it is a South Africa web-based signal service provider that aims to improve trade performance. It provides Forex market news, daily market analysis and predictions, currency pair journals and trading techniques. The signals are given from 8am until 5pm London time.
The proprietary indicators such as Forex Profit Boost and Trade Predator can be downloaded and added to the MetaTrader 4 platform to produce accurate trading signals. Signals are sent to users via Skype, email and live chat.
Invest tipster is a Malaysia based forex trading signal service. They have an autonomous checked outcome which is a key advantage. The signals are sent by email and WhatsApp. It costs $250 for a monthly subscription and they offer best return too because of their confidence in signal certainty. The signals are easy to understand.
Forex Hub Signals are less expensive. They provide signals by 3 exchange methodologies: daily exchange, intraday- three to six exchanges per day, and one weekly exchange. They provide signals on the right time to purchase, objective level and the stop level. The forex signals are sent via email and WhatsApp.
An enrolment period of 5-day trial for $50 is available. You can use this to analyse the benefits and signal strength. The monthly subscription costs $250.
Vladimir Forex Signals
Founded in 2011, the company provides services for standard forex signals sent to subscribers via email and skype. To gain an insight, use the past trades and signals on the website to compare the actual results gained. They offer a 7-day free trial to test the system and their signals before making purchase. It is suitable for beginners in forex trading. It costs $97 per month.
They provide a relatively cheap service at $99.90 monthly subscription. A 3-day $5 trail subscription period helps you examine the suitability of the forex signals service.
They indicate the appropriate time to buy or sell the currency pairs available in the market. They use three trading strategies of daily, intraday and weekly. They recommend the best time to buy or sell, target level and the stop level.
They quickly send signals to traders to gain an insight and have full control of your trade’s profit and risks. They also offer protection for user accounts, which helps risk management and profit safeguarding. They offer a 14-days free trial period which you can use to determine either to subscribe for the $99 monthly subscription. The forex signals are sent via email, mobile phone or directly to the MetaTrader 4 platform. The signals are easy to utilize by Admiral market users as the forex signals system works on any MT4 platform.
1000pip Builder Signals
Highly rated, the signal service is provided by an expert forex trader. They provide independently verified results, easy to follow signals and send information quickly through SMS and email. Monthly price is $97 but they offer a 7-day trial for new members to have a confidence in their signal services.
The FXGEO signal system has been tested and proven over time to produce winning trades. They offer advice on trading technique. Signals are sent through emails before news releases which is corrected using real market sentiments. The service costs $90/month if email signals and web based login signals are used. If SMS is used for the signal, the subscription fee increases.
Within 30 days of signup, clients can ask for full refund if they don’t make at least 50 pips in the first month.
TradeWindowFX was founded in 2005 as a forex trading signals service but they have expanded their services to include forex trade education. Traders can receive signals on major forex pairs. Trade recommendations are sent out daily before the start of the European session. The daily strategies, technical analysis and a graph for the five main currency pairs are posted on the website. You can access the past performances through the archive button. You can also sign up for a free daily strategy report.
A confluence zones report is sent to all users before the European session begins which gives full information on price instability. Chart lists and charts are extensively used to determine the daily confluence zone and the price target.
Digital Derivative Markets was founded in 2014 to provide trade alert services. They offer strong trade signal services through extensive research, trade, and market analysis. Daily market updates are sent to members through email. They offer a monthly $74.40 subscription. They have fully documented their trade which can guide members on their results. They do not allow the common statistics performance fudging technique used by poor signal service providers to profit at all costs.
Forex Signals Summary
A high level of risk is involved with trading Forex; hence it is important to acquire all the necessary information and education on the market. The possibility of losing an investment triples with poor decision and inexperience. Our intention is to inform you on what to expect with Forex Signal Services if you do include it in your forex trading strategy. Check for statistical proofs of forex signals services that offer grandiose high winning rates.
Forex signal services usually offer free trial, use this to test the services provided and the winning percent offered.