If you’re looking to find the best forex signals, you can generally distinguish between using key factors such as cost, strategy, results, and frequency.
As volatility hits the markets, more and more ambitious traders enter the market trying their luck in a chance to win big through trading forex. However, as most of them don’t have the time to read or analyze the markets they turn to services or professionals for guidance. This guidance is provided in the form of forex signals or trading alerts.
Read on for more information about forex signals and to check out Forexbrokerlisting’s picks for the best free, premium, and low-cost forex signal providers. We have gathered information on more than 20 providers from around the world, in order to provide you with as much transparency as possible.
|⚖️Are forex signals legal?||Yes|
|💰Instruments||Forex, Commodities, Indices, CFDs|
|🎮Are forex signals safe to use?||Yes|
|💱Who is the best signals provider?||Learn2Trade|
A forex signal by definition is a trading idea or suggestion for placing a trade on a specified currency pair or financial instrument, usually at a specific price point in time. The trading signal is generated either by an experienced trader or financial analyst or a forex robot. Then the signal is distributed by a specified signal provider or service. These signals can help you determine:
- Which forex pair to trade
- Whether to buy or sell a pair
- What time to enter the market
- How much profit you can expect to make
- How much money you could lose if your exchange fails
Traders and Investors with a technical analysis background use a number of forex signals when trading, most of the time. Signal trading can improve a trading strategy as it mitigates the risk of making assumptions.
Most technical traders and automated trading systems use trading signals based on technical analysis. This gives them the ability to efficiently determine when to open or close a position based on historic data and price action.
Using forex signals in your own trading could significantly enhance your profits, whether you use your own signals or rely on a forex signal provider with a proven track record.
Important: Always keep in mind that past performance does not guarantee future performance or guaranteed profits. More information here.
How To Find The Best Forex Signals Provider?
Finding a good forex signals provider can be tricky, especially with the rise of forex signals scams across the globe. Here are a few things to consider when choosing a forex signals provider:
- Do proper due diligence – Verify the experience of the provider and determine their signals success rate over the past few months.
- Is the provider regulated or audited? – Usually, brokers regulated by top-tier institutions and services audited by third parties provide more accurate signals.
- Word of mouth and social proof – See what other traders have to say about the service provider.
- Sign up for a free trial – Try the service before committing to a subscription or investing a lot of money.
Best Forex Signals Providers in 2022
Here is an overview of the best signals providers in 2022:
- Learn2Trade – Best Signals Service with 82% Win Rate
- CryptoSignals.org – Best Cryptocurrency Signals
- 1000pipbuilder.com – Best For Technical Trader’s Satisfaction
- DDMarkets – More Than 7+ Years of transparent Trading
- Zero To Hero Forex Signals – Most Consistent Performance
- FXPremiere.com – Best for Beginners
- Forexsignals.com – More Than 83,000 Active Users
- Etoro – The World’s Biggest Social and Copy Trading Platform
– Best Signals Provider with 82% Win Rate
3-5 Premium Signals per day
82% Win Success Rate
Average Monthly Gains of 30-40%
Access to a VIP Telegram Group
Learn2Trade is a forex signal provider that offers signals through an exclusive telegram channel. The service covers all major financial markets with 3-5 verified signals per day. The service claims to enable traders to make an average of 30%-40% monthly profits. Success Rate: 82% Win Rate(source)
Learn2Trade is an investment platform, on forex, cryptos, and CFDs, that provides a range of educational guides on trading. Its mission is to equip traders and investors with the essentials required to become successful and profitable traders.
One of their main services is the forex signals service, provided via their telegram channel, and prepared by their team of expert traders based in the UK. The signals are a blend of trading experience and the utilization of AI and machine learning to monitor and scan the markets on a daily basis, with no rest.
Subscribers of the service enjoy trading suggestions the exact moment the algorithm spots a potential opportunity to make a profit. The service covers all major and minor forex pairs, as well as a selection of digital currencies, or cryptocurrencies, like Bitcoin, Ethereum, and Ripple. The distribution of signals is done through an exclusive telegram channel, on time and on the go, that today counts more than 10,000 active users.
Each trading signal contains all of the required information needed to place a trade. This includes the respective entry point, stop-loss, and take-profit market orders. Not only that, Learn2Trade allows its clients to choose their own broker to place the trade.
This is what your signal might look like:
Currency Pair: GBP/USD
Signal: GBP is heavily overbought on the RSI
Order: Sell Order
Entry Price: 1.3560
Learn2Trade offers two subscription options, a free and a premium plan, in collaboration with Alvexo. The free plan is for people who want to test the service. Free plan subscribers get to enjoy 3 signals per week.
On the other hand, the Premium plan offers between 3-5 signals, every day, 5 times per week, at a subscription cost as below. If you are looking to take your forex trading endeavors to the next level, this is arguably a drop in the ocean.
Plan Type Price Cost/Month:
1 Month: £35
3 Months: £65 (£21.66/month)
6 Months: £95 (£15.83/month)
Lifetime Access: £250
Is Learn2Trade Legit?
Learn2Trade is a safe and verified service. Learn2Trade is a popular forex signals service, that is verified and endorsed by a number of well known and highly regulated forex brokers like Etoro, Alvexo, and Markets.com. Their signals are promoted through the regulated platforms of their partners and although you can choose your own broker, they do suggest one of their regulated partners for your trading.
*Note: As great as forex signals can be, they will never have the capacity to correctly predict the future price of an asset beyond doubt. As such, you should always install sensible stop-losses to ensure you are able to effectively mitigate your risks.
Learn2Trade is considered to be a safe and verified service.
– Best Cryptocurrency Signals
3-5 Premium Signals per day
82% Win Success Rate
Average Monthly Gains of 30-40%
Access to a VIP Telegram Group
CryptoSignals.org is a cryptocurrency-specific signals service, provided by the expert analyst team of Learn2Trade. It is formed by a team of highly trained traders that have been trading the cryptocurrency market since 2014, that decided to form a community on Telegram so that others can learn from our accurate cryptocurrency signals.
The team of in-house traders at CryptoSignals.org monitors the crypto markets around the clock so that you don’t have to. Through a combination of in-depth technical analysis, AI algorithms, and fundamental research – the team at CryptoSignals.org is constantly looking for trading opportunities for its members and followers.
Much like Learn2Trade, this provider has an ever-growing VIP Telegram group to distribute its crypto signals. All signals are sent in real-time and will cover a wide variety of cryptocurrency markets. For example, some signals are based on crypto-fiat pairs like BTCUSD (Bitcoin/US Dollar) and ETHEUR (Ethereum/Euro), while others target crypto-cross pairs like Polkadot, Cardano, and Binance Coin.
As for pricing, CryptoSignals.org also charges £35 per month like Learn2Trade, however, it offers a 30-day moneyback guarantee when you first sign up. This is to make sure you can test the service before you decide to commit. Additionally, the provider offers free crypto signals throughout the week for those that wish to test the waters before committing financially.
Overall, they send 3 VIP signals per week in their free Telegram group. Each signal comes with a full technical analysis on why they are taking the trade and how to place it through your preferred broker.
Success Rate: 82%
CryptoSignals.org is is a premium forex signals service based in the UK.
– Best For Member Satisfaction
3-5 Premium Signals per day
Best For Customer Satisfaction
Average Monthly Gains of 30-50%
Access to a VIP Telegram Group
1000pipbuilder.com is a premium forex signal provider, founded and operated by Bob James, a skilled forex trader that worked in multiple financial institutions across London. Bob has more than 10 years of trading experience and is proficient in both fundamental and technical analysis, which helps him identify opportunities where others can’t.
1000pipbuilder.com is based in London, therefore the signals provided are focused on the Asian, US, and European sessions. The service provides signals 24/5 and covers multiple financial instruments, from majors to commodities and indices. Subscribers to the service can receive their signals via email, SMS, or the premium Telegram channel where the signals are posted. The prices are flexible and anyone can join this service for as little as $97 per month.
1000pipBuilder.com is one of the best Forex signal providers available. They have a long history of providing high-quality Forex signals and have reliably performed in the most challenging market conditions.
As an established Forex signals provider, 1000pip Builder has built a very loyal following over the years and are highly recommended by their members. There have achieved numerous 5-star ratings from experts and members, just check their TrustPilot ratings to see how highly rated this service is as compared to other Forex signal providers.
Is 1000pipbuilder.Com Safe?
The service is completely transparent with its clients and the key benefit of 1000pip Builder is that they can prove their performance with independently verified historical data.
Very few Forex signals services can provide this but 1000pip Builder has such confidence in their signals that they have MyFXBook tracking their FX signals. This verification means that you too can have confidence in the signals that you will receive.
The team at 1000pip Builder is led by Bob James, a highly-skilled forex trader who worked in multiple financial institutions across London. Bob has more than 10 years of trading experience and is proficient in both fundamental and technical analysis, which helps him identify opportunities where others can’t.
As well as the high performance of the signals, members are often impressed by the one-to-one support that they receive from Bob. Rather than providing random educational guides (like many other Forex providers), Bob believes that the best way to benefit from the Forex signals and to develop as a trader is to have direct contact with a professional trader.
Only by trading side by side with a professional Forex trader and mentor do you stand a chance of succeeding in Forex. It is this additional support that has enabled members to not only benefit from the signals but also significantly improve their own trading.
What To Expect When You Join?
The signals provided by 1000pipBuilder.com are clear and easy to understand. Each signal comes with an entry price, stop loss, and take profit level. A welcome pack is also sent to all new members explaining how the service works when they sign up.
Real Forex Signal Example, USDJPY from 22 June 2021:
FX Pair: USDJPY
Entry Price: 110.35
Stop Loss: 110.15
Take Profit: 110.65
1000pipbuilder.com is based in London and the service provides signals 24/5 and covers multiple financial instruments, from majors to commodities and indices. Subscribers to the service can receive their signals via the exclusive Telegram channel, email, or SMS. The prices are flexible and anyone can join this service for as little as $97 per month. Now is a great time to join because there is a 65% Flash sale.
Overall, 1000pipBuilder.com offers a highly rated and comprehensive Forex signal service led by a professional trader. The high ratings this service has achieved received speak for themselves and it is clear to see why this is one of the most popular Forex signal services.
Success Rate: Unverified
DDMarkets – More Than 7+ Years Of Transparent Trading
DDMarkets work on a subscription model and provide 1-4 forex trading signals per day. Their signals cover all financial markets and are usually based on both fundamental and technical analysis.
Their goal is to provide genuine and transparent forex signals through their extensive market analysis.
They cover most of the major instruments across forex, crypto, commodities, indices, and stocks, and offer swing, medium, and long-term trading strategies through technical and fundamental analysis.
Who Is DDMarkets?
Established in 2014, DDMarkets provide transparent signals in multiple markets. The main focus is on the Foreign Exchange (Forex) market. The trading strategy for the signals is provided, ensuring all members understand why the trade was initiated.
DDMarkets control the number of open trades to limit the potential drawdown, which is provided for every trade. In addition, the size of the stop-loss orders is driven via technical analysis. The stop losses are not fixed and greatly depend on the time frame that was used for the signals. DDMarkets dismiss trades that have extremely large stops as such as 400 pips as recovery may from such losses take some time.
Besides the above, the DDMarkets team also controls the currency exposure and total potential loss from open trades. The total size of the stops for all open trades is kept below 500 pips. This is done in an effort to prevent losses from spiraling out of control. Like more signal providers, there are profits as well as losses. The key component is consistency, which is available in the +7 years’ performance.
The trade signals are sent via email, most of the trades are initiated around the daily close but trades are also occasionally sent during the European and US sessions. You will also be receiving daily updates on the open trades and on the market.
All the majors and crosses are monitored, minors and exotic crosses are very rare. There is a dedicated section on the website where members may see the current open trades. DDMarkets is also available via emails should any trader require some clarification with the open trades.
Real Forex Signal Example, EURCAD from 5 April 2021:
EURCAD long at market price (ask 1.4810)
Take profit: 1.4930
Protective stop: 1.4745
Risk Ratio (RR): 1: 1.7 (approx.)
Estimated duration: 7 days
Relevant as long as EURCAD is below 1.4825
Note: This is a 4hr entry. The potential drawdown is a re-test of 1.4790 but 1.4800 may hold. EURCAD, which we mentioned for some time benefited from crude oil’s recent selling. Buying after some gains materialized is often followed by some corrective weakness. As this is a breakout (based on the recent 4hr close) we decided to initiate the trade.
Even if you are new to trading you may learn how to analyze the market and gain a better understanding of the decision-making that is involved. Most of the signals are based on longer time frames such as the daily chart. As opposed to intraday signals the entry price is not as significant.
Success Rate: Unverified(source)
Zero To Hero Forex Signals – Most Consistent Performance
Zero to Hero Forex Signals has been one of the sector’s most consistent performers. Their aim is to create signals that bring steady gains with minimal drawdown. Zero to Hero focuses just as much on minimizing any drawdown as much as they focus on achieving the maximum amount of pips profit. This strategy is particularly well suited to traders with a small trading account.
What Is It Like To Be A Member Of 0toheroforexsignals.Com
This service provides around 4-10 signals per day by Telegram, email, and SMS. The signals are very easy to follow and use a single take profit level. New members receive an email explaining everything about the service and how to follow the signals.
Example Forex Signal
Open at: 110.52
Take Profit = 110.95
Stop Loss = 110.30
This service has a number of different membership options, with significant discounts for multi-month subscriptions. If you value consistency in your Forex signals (and especially if you have a small account), then Zero to Hero Forex Signals would be an excellent choice of Forex signals provider.
Success Rate: Unverified(source)
FXPremiere.com – Best for Beginners
Forex Signals FxPremiere FX Trading Signals started back in 2010, and they have more than 12 years of experience in the market. It takes lots of experience, moderate knowledge of economics, and hard work. FXPremiere is considered an intermediate Online affiliate in the Forex Signals Arena.
FxPremiere is not run by a team of financial analysts whatsoever. It is solely an intermediate to over 50 Signals sources of Forex Signals online, they send to their premium members from packages starting from $37 per month. FxPremiere do all the hard work for you and save you the effort.
They are more than happy to let their traders know that they recruit more professional, and more experienced FX trading analysts as per the demand and supply. Always committed to considering their traders’ interests first. Subscribers will not be frustrated if they buy the forex signals package provided by top-rated fx signal providers like FxPremiere Group.
Is The FxPremiere Forex Signal Service Free?
Although it is correct that FxPremiere also offers a premium service, they do provide a number of free signals to those that are yet to subscribe from the Free FX Signals Telegram Channel.
With this in mind, they allow free members to receive up to 2 signals per day totally free. You’ll be able to get our signals from the FxPremiere telegram group, and of course – try them out for yourself before making a commitment.
If you then decide that you want to upgrade to the premium plan, you will gain access to our full members’ VIP Telegram Channel. This means that you will get up to 15 signals per day, 5 days per week.
Note: FxPremiere also offers a way for you to join our premium service for free. Simply join one of our recommended brokers listed on this website via the sign-up link, meet the broker’s minimum deposit amount, and we’ll upgrade you. In doing so, you’ll have access to our VIP Telegram Channel for 3 months.
Success Rate: Unverified(source)
ForexSignals.Com – More Than 83,000 Active Users
Forexsignals.com is a reputable online community of traders with more than 83,000 users worldwide. The community is run by advanced experts with a collective trading experience of more than 50 years. The service operates an advanced trading room, where traders can interact and test their strategies. To get access to the signals, one must choose a suitable subscription plan.
ForexSignals.com was founded in 2012 by the avid trader Nick McDonald, who was at that time a relatively new trader in the Forex industry. Having noticed a lack of community-based support resources within the industry, he decided to take action and create a platform for fellow traders to share ideas and help each other out.
ForexSignals.com has more to offer to its subscribers. While using the service you gain access to hundreds of educational videos and workshops to help you become familiar with a trader’s mindset and individualized private sessions with mentors are available if you want to learn even more about trading.
Success Rate: Unverified as signals come from multiple sources (source)
Etoro – The World’s Biggest Social and Copy Trading Platform
As Etoro suggests, they have simplified trading by allowing their clients to interact and copy each other through their advanced copy trading platform. As their latest campaign suggests – Trade Like an Eric, Copy Like a Sloth.
Etoro offers Copytrader, one of its most popular features that allows you to view what real traders are doing in real-time and copy their trading automatically. A useful tool for beginners and experienced traders.
One innovative feature of Copytrader is CopyPortfolios, where eToro groups traders together into a single fund you can copy or mirror. CopyPortfolios help bridge the gap for investors who want to use eToro on a passive basis, as they can create a portfolio based entirely on one or more CopyPortfolios, from various verticals and trading philosophies. On the other hand, self-directed traders can also use CopyPortfolios to diversify their trading, making it potentially useful for all eToro clients.
All traders on eToro trade manually. Fully automated trading systems, such as those supported on MetaTrader, are not permitted at eToro. Therefore, when you copy another trader on eToro, you can be sure they are placing each trade manually. This quality is useful to know as many other social trading platforms that aggregate the performance of traders usually permit both discretionary (manual) trading as well as automated strategies, while eToro’s network consists solely of real traders doing manual trading.
Success Rate: The 50 top copied traders of Etoro for 2019 had a 29.1% yearly profit (source)
Markets.Com – Instant Access To Market Insights
Markets.com offers trading signals through its Market X platform. Traders can get insights into key assets without leaving the platform.
The Signals Are Easy To Use And Are A-Data Combination From Eleven(11) Robust Tools And Sentiments:
- Daily Analyst Recommendations – Analyst Recommendations show what top-notch analysts think of essential US stocks. It allows traders to search through top Wall Street analysts, filter them by their star rating, and open a position on the biggest stocks of their choice. Every single analyst featured on the tool is measured on accuracy determined by their Star Rating. The Star Rating is between 0 and 5, with 5 Stars the highest ranking an analyst can have.
- Insider Trades – The Insider Trades tool showcases the increase and decreases in shares holdings for over 36,000 company insiders. This allows traders to make a more informed decision on their positions. It collects, evaluates, and presents the latest transactions made by insiders. The transaction history shows you individual buys and sells, who’s behind the trades, what their role is in the company, and how their trades rank.
- Hedge Funds Investment Confidence – This tool uses data from the SEC to monitor what the stocks hedge funds are buying and selling across the globe to indicate sentiment. It shows whether the popularity of specific stocks with fund managers over the past few quarters. Traders can also see how hedge fund managers are trading a specific stock
- Bloggers Opinions – Bloggers Opinions provide access to the opinions of the top 50,000 financial bloggers. Traders can follow their stock picks and turn their knowledge into actionable trading opportunities. Using state-of-the-art technology, markets.com identifies the experts and bloggers that consistently pick the best stocks to outperform the market.
- Trends in Trading – Trader Trends analyses every trade made in the markets.com platforms, in real-time, to provide traders with instant market sentiment. Markets.com clients can see what thousands of other traders are positioned for and decide how to trade.
- Real-Time Signals – The tool provides insights on key assets without the user ever leaving the platform. Easy to use and intuitive, Forex Signals is such a simple tool that traders take advantage of it without even realizing they do. The Signals tool combines data from five of our most robust tools. Traders get instant sentiment from all these tools without leaving the dashboard and their charts.
- Related Instruments – Traders can get inspiration for new trades through Related Instruments. Traders can identify which assets are related to each other, diversify their portfolios, or simply get a better understanding of what might be affecting their trades. Related instruments span across all asset classes. For instance, gold is related to many forex pairs, energy assets, and other precious metals.
- Advanced Charting – The advanced charting package allows traders to get a deeper view of their trades and assets. It includes dozens of indicators and oscillators including Forecasting, Long/Short position tracking, Elliott Wave, Fibonacci Retracement, Gann’s, and much more.
- Financial Commentary – A rolling, real-time ticker, that provides information about international developments, central bank statements, and trade updates, through the forexlive.com portal.
- Advanced Alerts – Traders can live the rhythm and pulse of the markets with custom alerts delivered to their phone, email, or on the trading platform. There are five types of alerts they can set, from simple price alerts and reminders to customizable alerts based on other tools.
- Thomson Reuters Stock Report – A downloadable report, provided by Thomson Reuters and available directly through the MarketsX platform. The report is packed with essential information and insight into the stock market. The stock report is a company-specific analysis that includes an average stock rating supported by indicators and key data. Updated daily, it is a robust insight into stocks.
Success Rate: Unverified(source)
Autochartist – More Than 1,000 Trading Opportunities Every Month
AutoChartist offers proprietary technology that allows the monitoring of thousands of financial instruments across Forex, Commodities, Indices, Stocks, Futures, and CFDs. This is done on an hourly and daily basis in order to provide timely and accurate trading opportunities within minutes of a pattern formation.
AutoChartist delivers the following:
- 1000+ actionable trade opportunities per month across all financial markets
- Chart patterns, Fibonacci patterns, and Key Levels that are identified in real-time
- High-quality trading opportunities that save traders time
- Visual Quality indicators and advanced search function
Success Rate: 70% success rate (source)
FXStreet.Com – Premium Signal Subscription Service
FXStreet.com has created a subscription service that provides premium manual forex signals to anyone. The FXStreet.com signal service can generate n average of 5 signals per day, depending on market conditions and trading opportunities identified by their analyst team.
The strategies provided work on a few time frames, anything from a minute to a daily timeframe. Therefore their holding times can be considered from short-term intraday to long-term position trading.
Success Rate: 45% -55% historic win rate(source)
MQL5 – Trading Signals And Social Trading On MT5
MQL5 is the homepage of our beloved Metatrader 5 platform. Metaquotes provide a verified space where all traders can post and share any trading ideas or signals they wish to share with the world.
Forex signals provided by MQL5 are divided into the following categories:
- Maximizing profit
- Based on the Reliability of the Provider
- Being Profitable within a month
- Intraday trading
- For under 50 USD budget
- Having good reviews
- Trading with Leverage 1:100
- Using robots or EAs
MQL5 allows anyone to provide his trading signals and ideas, which might put off some potential users of the service since it is unfiltered. Still, each trader’s performance is evaluated and rated with respect to their return on investment (ROI) over time, the number of trades within a given time frame (trading frequency), and the maximum drawdown experienced in their trading account.
In addition to the wide range of diverse strategies, the MQL5 market verifies all of its providers’ trading results, compared to other forex signal providers that may be reluctant to do so.
The site also provides software to filter the numerous traders by many variables such as ROI, maximum drawdown, and net profit.
While the service itself is offered free of charge, to get trading signals from individual traders, you must pay a signal fee of $20-$50 to most of them, although some star traders do ask as much as $500 for their signals.
Success Rate: Unverified as the forex signals come from multiple sources (source)
ZuluTrade – Copy Trading Signals
Zulutrade is considered one of the largest copy-trading and forex signals communities in the world. Zulutrade is licensed and regulated in Europe and Japan.
What makes the services unique is that traders can connect any of their current broker accounts and copy any trader within the community. This can be done by paying a small fee(usually 20%) from the profits generated.
The ZuluTrade service is a social and copy trading online platform that allows users to mimic the investing strategies of trading “experts” in forex markets. The user base is typically split into two categories: signal providers and followers.
Signal providers are generally traders that have developed a strategy willing to share and can be copied by their followers. Followers can also mimic strategies of the portfolios created by other followers. Signal provider compensation fees are based on the success and popularity of their trading strategies.
The platform also has several features, including ZuluGuard, that automatically unfollows a signal provider if their trading strategies change. Lock Trade allows users to verify the execution of a trade after the signal has been received. The website also features several social network-like features including comments and forums.
The platform also has a feature called ZuluScript which allows users to create scripts that designate specific parameters as criteria for trading robots (known as “Expert Advisors”) to automatically start making trades. Additionally, ZuluTrade operates a binary option social trading platform.
ZuluTrade provides rankings of investor performance and allows investors to immediately observe and copy other traders’ portfolios. This is provided by the simulator which shows an overall profit, alerts the user if a margin call occurred, and even allows the user to download a spreadsheet of all the simulated trades.
Success Rate: Unverified as signals come from multiple sources (source)
Duplitrade – Automated Trading Made Simple
Duplitrade is on a mission to become the world’s leading automated trading platform, by offering a unique trading experience through proven strategy providers. The objective is simple, bring experienced traders and new traders together.
One of the advantages of the service is that all strategy providers are audited regularly and have to prove they know how to trade professionally before providing any signals or strategies.
The drawback of this service is that there is a minimum deposit of 2,000 EUR in order to use the service.
Success Rate: Unverified as there are multiple signal providers (source)
Other Forex Signals Providers
MyFXBook.com – Automated Trading Forex Community
A Social Trading community that allows traders to trade ideas and copy other traders. The website also offers portfolio management services. Success Rate: Unverified(source)
CMTrading, a leading broker in the Africa region, offers its clients the ability to utilize forex trading signals provided by their team of experts. Signals are provided as a trading tool and are advised to only be used as guidance. Success Rate: Unverified(source)
Forex Signal Factory
Forex Signal Factory is a global community of traders, with more than 45,000 members. In contrast with other signal provider services, they refer their members to selected brokers and earn a commission from the clients’ successful trades. Success Rate: Unverified (source)
Darwinex is an online broker that enables sophisticated traders to trade the market and investors to back them. Darwinex supports algorithmic trading and therefore copy trading and social trading. Success Rate: Unverified(source)
Pips Alerts is a forex signals provider that offers signals through its app or MT4 plugin, through selected traders within its network. The service charges a subscription fee and does not guarantee any results. Success Rate: Unverified(source)
Once a forex affiliate website, fxleaders.com now operates s a forex signal provider on a subscription basis. You can either follow the signals provided by the website directly or utilize the signals through their premium partner, Avatrade. Success Rate: Unverified(source)
Signal Start is a signal provider that charges a fee of only $25/month per account, but also a separate fee on selected premium signals. You can also join the service as a signal provider for a 70% reduced subscription fee and support in generating signals. Success Rate: Unverified(source)
The idea behind this service is to provide users with Free Forex Signals via the MT4/MT5 Copier
Success Rate: Unverified(source)
4xClone has been designed for clients that don’t have time to manually trade or want to earn passive income.
- Use ANY Broker of your Choice
- 150-500+ Pips Weekly Average!
- Fully Automated Copy Trading
- All Forex Signals Automatically Traded to your Broker (no manual trading)
- €500.00 Six Month Subscription
Success Rate: Unverified(source)
How To Find The Best Forex Signals?
Using Forex Signals is as simple as riding a bike. Easy to use once you get the hang of it, and not much skill is needed. However, choosing the right signal is essential in making or losing money.
Here are a few things to consider before choosing a signal:
- Time Zone and Time Frame – Before committing to a signal, make sure that the provider is in the same time zone as you. You need to make sure that the signal is relevant and usable by the time you decide to use it.
- Success Rate – Have a look at the historic success rate of the signal provider, to assess whether the source and signal are reliable
- Go through the details– Do your due diligence properly. Low effort signal providers that provide signals with only the entry price and the stop-loss and take-profit levels, should be ignored. A successful trader needs to know why a signal will work and how to use it.
What to Look for in Good Forex Signal Providers
There are many forex signal providers online, but not all offer the same benefits. Some signal providers offer sound advice and are focused on achieving successful trade results. However, some could be involved with foreign exchange fraud.
These are the essential elements that will help you choose the right forex signal provider for you.
A signal provider’s success rate (or win rate), is an indicator of how profitable their recommendations are. A high success rate of 50 to 80% for forex signal providers means that the majority of their signals are profitable and winning.
Many forex signal providers list their win rates on their websites. Learn2Trade, for example, states that its success rate in winning trades is 82%. A forex signal service that does not disclose its win rate may not be able to predict the market activity and therefore you should not trust its signals to deliver profitable trading results.
Number of Signals Per Day/Week
Forex signal providers that provide the best signals can send traders five to ten signals per day. You will want to find a provider that sends signals often if you intend to trade full-time.
But reliability and accuracy of a provider are more important than how many signals they give. You can’t trust a service that sends 10 signals per day but only one or two of them are successful.
Signal Delivery Methods
It is essential that you receive a signal within a reasonable time frame to make the provider worthwhile. A forex signal provider that delays sending signals can cause outdated information to be found, which could result in you losing money.
To ensure their signals reach their customers quickly, the best forex signal providers use multiple channels. These providers also send trading signals via Telegram, which is a cloud-based instant messaging application that delivers messages quicker than any other software.
Telegram signals ensure that traders receive important trading information in a timely manner to enable them to trade profitably. Telegram is not used by signal services.
Years in the Markets
Signal providers typically employ experienced traders who mentor customers, perform technical analysis, and conduct research. This group of traders usually has at least five years’ forex trading experience. They are well-versed in the FX market trading process.
When searching for the best forex signal provider, make sure you check how experienced they are and whether they receive advice from professional traders.
Customer Reviews and Satisfaction
You can learn from other customers about their experiences with a specific trading platform or signal provider. Positive reviews are more common than negative reviews for forex signal providers, which indicates that customers have had a positive experience.
It is important to check for reviews from customers on other websites than the platform’s website. As a marketing strategy, the best forex signals provider should include positive reviews on its websites. However, these reviews might not reflect customers’ overall experience.
Types of Currency Pairs/Opportunities they Cover
Forex signal services may limit their signals to major currency pairs such as EURUSD or BTCUSD. Some services offer a wider range of major, minor and exotic pairs.
It is okay to only offer major signals. Major pairs are the most widely traded and most platforms profit from this popularity. If you are looking to concentrate your efforts on exotic or minor currency pairs, you should look for a platform offering signals for these currencies.
There are many options for forex signal services. Some platforms offer free signals while others have several membership levels. Others only allow users to pay up to $100 per month for signals.
Free signals may not be the most reliable or profit-oriented, but they do not necessarily indicate success. Signal providers may charge more to make their services more valuable, while others may charge less to get more customers.
You will have the best chance to find profitable signals from a forex signal provider at a reasonable price.
Is it Worth Using Forex Signals?
Forex signals are useful for both new and experienced traders.
- New traders can use signals to accelerate the process of learning how to trade, and make money while still practicing and reading about how to properly trade the markets.
- Experienced traders can use forex signals as a guide to new trading strategies, instruments, and styles of trading. In a way, they can get an idea of what is possible to trade, outside of their usual scope of assets.
However, it is essential to note that, in the fast and dynamic foreign exchange market, a trading signal is only as useful if received and used within the specified timeframe. If obtained or used late the opportunity is already gone. Even though there is a certain level of risk, using signals is nothing like playing in an online casino, or gambling away your money. It is more efficient.
What Do Forex Signals Include?
Forex Signals Include the following elements:
- Signal Status – whether the signal is Active, Get Ready, or Closed. Active signals can be used right away. Get Ready signals, will become active shortly. Closed signals have expired.
- The instrument to be traded – for example EURUSD or Gold
- The direction of the trade – Whether it is a BUY or SELL signal
- The Entry point or price – Where you will enter into the trade
- Stop Loss Level – Where the trade will automatically close if the market goes against you
- Take Profit Level – Where the trade will automatically close once it reaches the desired outcome
- Commentary and Details – explaining the philosophy behind the inception of the particular signal
What does a Forex signal look like?
Five pieces of information are required to create the best forex signals: pair, order price, entry price, and stop-loss. This is what a trading signal might look like:
- Currency Pair: EURUSD
- Order Type: Sell
- Entry Point: 1.116
- Stop-Loss: 1.1215
- Take-Profit: 1.108
A trading signal should contain all the information you need to make informed trades. If you are new to trading, however, it is possible to not be able to interpret these metrics and use them to your advantage. Let’s look at each of these key data points in the larger context of trading.
A “pair” is the pair of currencies that a signal is quoting to each other in forex trading. EUR is the base currency and USD is the quote currency in this example. Forex traders often trade in USD, which is why most forex trades are quoted against USD. The market categorizes currency pairs into different categories based on their liquidity and activity. There are three types of currency pairs: majors and minors.
Major pairs are the most popular and liquid currency pairs around the globe. This example shows that the EUR/USD pair is the most in-demand currency pair, accounting for approximately 30% of all forex traders. Minor pairs are those that don’t include the U.S. dollar. These pairs usually contain one of three major currencies: EUR or GBP or JPY.
Exotic pairs are currency pairs that come from developing markets such as Mexico, Sweden, Norway, or Norway. These pairs are less liquid and more volatile than other pairs, which makes exotic trading riskier.
The order refers to the actions that will be taken within the trade. The signal “Sell Order” in the above example indicates that the signal predicts that the pair’s price will fall. This means that you should try to make a profit by selling the order. If market trends predict that the pair’s value will increase, then the order would be called “Buy Order” to indicate a profitable purchase.
Entry refers to the entry cost, the price at which an exchange will allow you to buy or sell. It can be difficult to determine the entry price by yourself, so this information is valuable.
Let’s suppose that the EUR/USD current price is 1.108 and your entry price is 1.116. This price difference indicates that your signal provider anticipates the price increase to 1.116. After you have placed your order, the EURUSD will reach your entry price of 1.116. Your order will be canceled automatically if the exchange does not reach your entry value within 24 hours of placing the order.
Your forex signal will indicate the “stop-loss price” at which you will exit a losing trade.
In the above example, your entry price is 1.116 and your stop-loss price is 1.1215. You want the pair value to decrease because you have placed a sell order. The pair value will rise and you’ll lose more money the higher it climbs. The broker will close the trade when it reaches 1.1215. This will prevent you from losing more than you can afford.
You can use stop-loss orders to manage your trading risk. You can make your trades less risky by indicating take-profit and stop-loss prices.
Your stop-loss price and your “take-profit price” are identical but in the opposite direction. The broker will close your trade at a lower price, which allows you to lock in your profits.
Your take-profit value in this example is 1.106. This is ten pips less than your entry. Your broker will automatically close the trade if the exchange value exceeds 1.106 in your trade. This will ensure that you get your profits.
Signal providers may include two take-profit pricing options in forex signals. One is more conservative, one is riskier. In our example, the take-profit prices might have been 1.106 or 1.076. You, the trader can choose the value that you want to cap the trade at. It could be one of these prices or somewhere in between. Or a completely different value.
Types Of Forex Signals
There are mainly two types of forex signals, manual and automated signals. This classification is based on how the signal is generated. In addition, a signal might be provided for free or through a paid service for a fee or a subscription. Signals can either signal a trader to enter or exit the market.
Manual Forex Signals Or Copy Trading
Manual forex signals are usually generated by a person who is deemed a professional analyst or a seasoned trader with multiple trades under his boots.
Automated Forex Signals
Automated signals are usually generated by software or algorithm that analyses multiple points on market price action.
Which is better?
Both automated and manual trading signals have pros and cons. However, we prefer automated signals in general. The forex market is huge and dominated by experienced professionals. Automated signals offer traders the best chance to produce profitable trading results.
Automated algorithms are able to analyze unlimited currency pairs 24 hours per day, seven days a week. They don’t act on impulse or emotion. Instead, they follow predetermined conditions which allow them to make rational, low-risk, and informed recommendations without fatigue or opinions.
Although the market is unpredictable, these algorithms use technical analysis to predict future changes in value. Although even the most skilled traders can’t predict the future, it is possible to analyze thousands of historical exchanges to get as close as possible to reality.
Automated signals are more profitable than manual forex markets because they outperform them more often. The type of signal that you choose will depend on your preference.
Free vs Paid Forex Signals
Forex trading platforms often offer trading signals for free. Although these signals can be appealing, we recommend not following them.
It takes a lot of analysis and research to find the best forex signals. This is why providers charge for their services. A platform that offers signals to non-paying customers may have acquired them through a less involved process. This could mean they are not as accurate or as profitable. Free signals might also contain less information than paid signals.
We recommend that you pay for a reliable forex signal service if you want to trade signals. You could end up wasting time and losing your money.
How To Use The Different Types Of Forex Signals
The proper use of forex signals can maximize the potential profits of a trader. One thing to keep in mind is that most forex signals, use a fixed pip amount. Some of them set limits for up to 50 pips. Using the take-profit and stop-loss orders properly can increase and optimize the potential of forex signals.
How to use the various types of signals and their components:
- Live Signals – Live trading signals are delivered daily and on a high frequency. Such signals are suitable for day trading.
- Premium and Exclusive Signals – High-quality paid signals that provide efficiency. Such signals, if purchased, should be used as-is.
- Free Signals – These signals are usually used for promotional purposes. Should only be used as an indication and comparing trading ideas.
- Correlated Instruments – Correlated instruments have usually a signal intended for one of the assets applied to both. This is a great way to gain an advantage in a volatile market
- Take-Profit and Stop-Loss Orders – Essential orders that can prevent disaster and solidify potential profits. However, closing a trade manually can also be beneficial. A trade signal should not be followed blindly. The market has proven to be unpredictable many times.
- Trade Size – Changing your trade size can help gain the expected profit from a signal. Usually, with excess capital, you can solidify your position and avoid a margin call.
Forex Signals Providers Comparison
|Signal Provider||Success Rate||Subscription Price||Visit
|Learn2Trade||82%||£35 – £250||Visit Site|
|CryptoSignals.org||82%||£35 – £250||Visit Site|
|DDMarkets||Unverified||$49.90 – $230.60||Visit Site|
|Zero To Hero Forex Signals||Unverified||$97||Visit Site|
|FXPremiere.com||Unverified||$37 – $500||Visit Site|
|Forexsignals.com||Unverified||€47 – €97||Visit Site|
|FXStreet.com||Unverified||$19.95 – 143.64||Visit Site|
|CM Trading||Unverified||Free||Visit Site|
|Forex Signal Factory||Unverified||Free||Visit Site|
|Pips Alert||Unverified||Free||Visit Site|
|Signal Start||Unverified||Unverified||Visit Site|
|FX Luxus||Unverified||Unverified||Visit Site|
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Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
Director of Research & Analysis
Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com.
Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it.
Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.