Best Forex Signals Groups in 2022 – #1 For Telegram Signals

The forex market provides several opportunities to profit and earn your trading and financial goals. At the same time, they may be quite brutal because of the uncertainty they bring. To become a good forex trader, you must have both experience and knowledge. Even if you lack experience, you may still make smart and effective judgments to capitalise on opportunities. All you need is a forex signals provider that is well-established, verified, trustworthy, and reliable.

A forex signal provider, in essence, assists all types of traders in identifying available trading opportunities at a specific price and at the right time. Such platforms perform all of the hard liftings for you, and all you have to do is establish a position to profit. Having said that, the market is flooded with countless forex signal providers, making it difficult to choose the best option. That is why we have compiled a list of the top suppliers of forex trading signals with a high win rate and best pricing in 2022. So, without further ado, let’s get started.

ForexSignals.io

ForexSignals.io are UK based trading signals provider having 15+ years of in-depth knowledge of trading and the forex market. Being new to the signal provision setup, the quality of work and analysis on trading instruments is worth mentioning. This signal provider deals in FX, Gold and Indices.

forexsignals.io
forexsignals.io

The customer has positive sentiments towards the signal provisions of Forexsignals.io. There have not been any negative reviews regarding trading signals and have maintained more than average trustpilot reviews. Currently, more than 25K+ members around the world are benefiting from ForexSignals.io.

The signal provisions are on a daily basis. Besides this, the success rate is documented and updated on the website monthly. The beauty of the record is that, besides the winning traders, the loss trades are also shared on the website. This indicates the transparency of the signal provider.

The signal provider does not claim any clear growth rate but claims to let you win at least 1000 pips monthly. However, 76% is the success rate calculated on average of 4 months of provisions.

Here is the breakdown month on a monthly basis:

Total Number of Trader Total Number of Pips Traded Total Number of Win Trades Total Number of Win Pips Total Number of Loss Trades Total Number of Loss Pips Success Rate
April 2021 32 3073 23 5418 9 -2345 72%
May 2021 26 10785 24 10995 2 -210 92%
June 2021 32 2315 27 2666 5 -351 84%
July 2021 48 2095 28 2928 20 -833 58%

 

More importantly, ForexSignals.io is the winner of our list because it is economical and suitable for every level of trader. It is a time saver for part-time investors as there is no need to spend more than 60 minutes every day.

forexsignals.io
forexsignals.io

They have two subscription plans; £79 monthly and £499 lifetime. Both of the plans have the following features:

  • Monthly Access to all our Services
  • FOREX GOLD US30 NASDAQ Signals
  • Daily Signals
  • 1000 PIPs+ Monthly
  • Full Support
Pros
  • Receive Signals Daily
  • Affordable Pricing
  • Step by Step Walk Through
  • 24/7 Support
  • 1000 pips per month
  • Economical
  • Monthly documented records
Cons
  • Website needs improvement

ForexSignals.com

ForexSignals.com offers one of the most in-depth forex signal services available in the world. It is well-established and has a devoted following among traders of all skill levels. The platform is especially popular among newcomers. This is due to the fact that ForexSignals.com operates in a slightly different approach than the other providers on our list.

Forexsignals.com
Forexsignals.com

That is, the provider aims to teach you all you need to know so that, one day, you will not need to depend on live forex signals. As a result, you will get used to a wide variety of instructional materials. This includes videos, manuals, and even webinars that are regularly updated. There is a live chat room available 24 hours a day. This allows you to converse with your fellow subscribers about trading signals and market information.

You must first choose which expert traders you intend to follow in terms of their signals. Once you have done so, you will receive every trading suggestion that the respective expert comes up with. We also like the platform’s daily live streaming. An in-house trader will go through current market circumstances and walk you through a number of potential trading strategies. This also allows you to directly ask questions to the professional trader, which is ideal for increasing your forex trading knowledge.

Forexsignals.com
Forexsignals.com

Likewise, customer service is well rated, with email responses often arriving within an hour. When it comes to pricing, this provider is a little pricey. If you wish to use the platform on a month-to-month basis, you will pay $58 each month. If you are willing to commit to a lengthier plan, you will pay $222 for 6 months; alternatively, you may choose the Professional Plan, which costs $312 per year.

Pros
  • The choice of expert trader you wish to receive signals from
  • Learning material on how to trade
  • Live streams and webinars
  • 24/7 live trading room
Cons
  • Costly

1000pip Builder

1000PipBuilder, a Forex signals provider launched in 2016 by Bob James in the UK, provides a method to get virtual, expert advice directly from a professional trader. Designed to provide additional insight to traders trying to increase their profits, this programme sends signals and guidelines directly to your inbox to help you improve your trading and reduce losses.

1000pip builder
1000pip builder

1000pip Builder, as a Forex signals provider, is intended to give a particular service. Every working day of the week, the service sends immediate guidance and insight into trading opportunities to your inbox.

Customers inside the 1000pip Builder programme may then respond to these signals to increase their success and build their pips, also known as ‘percentage in point’, using experience and knowledge of the business. With claimed increases of 600-1,000 pips, 1000pip Builder aims to live up to its name by offering customers a better Forex trading experience built on expertise and experience.

While 1000pip Builder does not officially limit its target demographic, the majority of its customers are people who are new to or have previously been unsuccessful in the field of Forex trading.

1000pip builder
1000pip builder

Anyone who wants assistance understanding and making the most of an expert’s advice might benefit from a signals membership. For professional traders with their own understanding of the market, 1000pip Builder and similar services do not have the same level of appeal.

One of the main concerns that many Forex traders have about signal services is whether or not the membership and service are legitimate. With result verification through MyFxBook, 1000Pip Builder provides confidence in the service.

However, it is important to note that acting on signals does not always result in a winner. There is still a potential that any single trade will not be profitable for you. It is important not to rely on signals services as a 100% reliable strategy to succeed in Forex trading.

Pros
  • 10+ years of trading experience
  • 2-7 Trades Per Day
  • 350 Pips monthly Target
  • 15 currency pairs
  • Email and SMS signals
  • On-going expert support
Cons
  • Relatively costly

Learn2Trade

Learn2Trade is a premium forex signals service based in the United Kingdom that provides signals through an exclusive Telegram channel. Every day, the service covers 3-5 verified signals for all major financial markets, including forex and crypto. Through its extensively studied signals, the service offers traders an average of 30%-40% monthly profits. Learn2Trade is another well-known forex and cryptocurrency education platform that offers a variety of trading guides.

Learn to Trade 1
Learn to Trade Price

It currently employs some of the most talented and promising traders in the investment world. Consequently, it combines AI and machine learning capabilities with the expertise of its traders to monitor the forex markets 24 hours a day, seven days a week.

Learn to Trade
Learn to Trade

Once the algorithm identifies a potential money-making opportunity, its subscribers will have access to trading suggestions. This covers all major and minor forex pairs and a selection of cryptocurrencies such as Bitcoin and Ethereum.

What Are Learn2Trade’s Forex Signals Based On?

The system provides signals based on the RSI indicator. It is often used in charting to identify trends and overbought/oversold levels. It employs a variety of additional indicators, including the RSI, Stoch, and CCI, to identify all trading opportunities.

Fibonacci Retracement Levels

In the forex signals space, Fibonacci retracement levels are very important. The technical indicator attempts a medium-to-long-term trend, which is then followed by a target entry point. More specifically, it seeks to join the trend when markets experience a temporary correction.

Assume that the USDCAD has been on a five-day bull run. Like any other asset class, a bull market cannot persist forever. On the contrary, markets will always need to correct themselves at some point – usually due to investors locking in their profits.

When a correction occurs, the Fibonacci indicator will attempt to discover an entry point. When this occurs, the forex signal will notify its members of the trading opportunity.

Support and Resistance Levels

In the world of forex trading signals, support and resistance levels are crucial. In terms of the former, this is a certain price at which a currency pair receives ‘support’ from the markets.

For example, on BTCUSD, a historical support line was $6,000.00. Regarding the resistance level, this is the pricing point at which market bears might hinder an upward trend.

A forex pricing signal will attempt to look where the major support and resistance levels are and how its members should trade if one of these levels is breached.

Bollinger Bands

While Fibonacci indicators are concerned with catching a market correction, Bollinger Bands examine the relationship between price and volatility. In a nutshell, this forex signal alerts us when a currency pair is experiencing high volatility. It may also be used to determine if a certain forex pair is overbought or oversold.

Moving Averages

Moving averages are one of the most frequent indicators used by forex signal providers. For those who are unfamiliar, this indicator seeks to calculate the average price of a forex pair over a certain number of historical days. The 100-day and 200-day moving averages are at the forefront of this since they span a considerably larger time frame to gauge market sentiment.

In most circumstances, if the current price of a forex pair is higher than either the 100-day or 200-day moving average (or both), it indicates that market sentiment is extremely positive. On the other hand, a bear market may be on the horizon when the current price falls below the averages mentioned above.

Pros
  • Free and paid services available
  • 3-5 Premium Signals per day
  • Access to a VIP telegram group
  • Signals Cover Forex, Indices, Commodities, and Crypto
  • 84% Success Rate
  • Average Monthly Claimed Gains of 30-40%
  • No Payment or Card Details Needed to Start the Trial
  • Learning opportunities
Cons
  • Need to remain active for trade signal

PriceAction Forex

Price Action Ltd is a forex signal service provider. This signal service is handled by 15 professional traders with years of financial market experience. They guarantee an 85% win rate, which is considered a very high win rate.

PriceAction Forex Ltd
PriceAction Forex Ltd Products

This vendor’s website is somewhat cluttered and well-designed, featuring an ebook, testimonials, and video reviews. It’s enough to catch any inexperienced trader off guard. In our analysis, we explore various service areas on the website to determine whether or not this vendor is a legitimate service provider or an epidemic hoax.

There isn’t much information about their corporation or where they are located. Their service is registered in the United Kingdom. According to the who.is page, their domain was registered on November 22, 2018, from “Panama.” It’s just been a year and a half. As a result, they do not have a long history of providing service.

PriceAction Ltd has launched the Automated Trader Bot, Copier, various trading-related calculators, and ebooks and services for commodities, indices, and cryptocurrency.

What does PriceAction ltd offer?

Free Forex Signals

The PriceAction Forex Ltd. team provides trade signals on the Telegram channel. They have built a community on their free Telegram channel and provide 5-6 free signals weekly. You can join their free channel to test their free signals.

After going through their free channel, we discovered that they provide details on every trade they take, including the entry price, stop loss, and take profit. PriceAction Forex Ltd is transparent about its results and analysis interpretations and provides free signals and pips. In February 2021, there were a few incidents where they faced significant losses. Nonetheless, PriceAction Forex Ltd. was not shy about exposing its failure.

Free Projection

The PriceAction Forex Ltd. team provides trade projections every day, demonstrating their trading efficiency.

Priceaction Forex ltd
Priceaction Forex ltd Projection

VIP Forex Signals on Telegram

They give an unbelievable number of signals, pips, and services on the Telegram channel for VIP members, which is truly astonishing. They want to deliver more than 200 profitable signals every month by intending 5-8 signals per day. However, they are barely able to live up to their expectations. PriceAction ltd provided 16,732+ pips on forex for their premium service in 2021.

They have paid extra attention to their VIP members, serving them with account management opportunities. They also provide unique weekly deals, particularly during peak seasons.

Pros
  • Free Forex Signals
  • Free Projections
  • 10+ free forex signals weekly on the free Telegram channel
  • Daily trade analysis & results
  • 24/7 support
Cons
  • Not Available Other Than Telegram

FX Premiere

FX Premiere offers up to 15 signals every day through their VIP forex signals telegram group, ensuring users have a steady stream of optimised trade opportunities throughout the week. The FX Premiere team consists of more than 20 skilled forex traders who source opportunities from up to 50 different sources. This provider’s nice feature has over 2500 Trustpilot reviews, which adds credibility to their services.

FXPremiere
FXPremiere

In addition to these reviews, FX Premiere reveals every trade they take so that you may trade with them. Trades are conducted in a wide range of asset classes, including forex, gold, and oil. In addition to the signals, FX Premiere provides graphs and analysis to support the trade opportunity – so you can be credible that it is based on sound reasoning.

FXPremiere
FXPremiere

FX Premiere provides trading signals through the Telegram app. They have a channel where they send one signal every day on a trial basis. They currently have 13K+ members, which a rather small number is given that they claim to have been providing signals since 2010. Every now and then, the FX Premier team will give a trade analysis. But it doesn’t explain anything, and the charts are very complicated to understand. Furthermore, they do not provide any analysis on their YouTube channel. For their paid members, they also offer a VIP Telegram channel.

Pros
  • Up to 15 signals per day
  • Team of over 20 professional traders
  • 50 different sources for signals
  • A huge number of Trustpilot reviews
  • Gold and oil signals also provided
Cons
  • Unverified results

PIPchasers

PIPCHASERS, unlike any other Forex platform, was created to empower individuals and maximise potential. They spent several years studying markets and understanding the important elements that are the foundation of successful trading.

pipchasers
pipchasers

The research of Pipchasers has allowed traders to trade effectively for over 6 years with a very high winning percentage. They have developed strong trading techniques unique to the traders, including classical analysis, wave theories, and W.D Gann techniques to predict all markets effectively. They have shared the results through their intensive and need-based training, their one-of-a-kind expert advisor, and the free and premium signal channels.

A team of market analysts provides Pipchasers’ signals, which range between 5 and 9 signals every week. The company claims to have a monthly target of 2000 pips, and trade opportunities are available for a total of 20 forex and metal pairs. Pipchasers’ signals, like those of some of the other suppliers on this list, give the reasoning for their trade opportunities and are delivered in real-time.

pipchasers
pipchasers

Pipchasers, in addition to their signals, offer trading courses that concentrate on issues such as risk management, ensuring that novice traders have the tools they need to be successful. They also provide a free signals service with limited scope that provides you to test the waters before purchasing the paid version. Finally, Pipchasers provides 24/7 support to users who have issues or questions that need to be resolved.

What Pipchasers are offering?

Technical Analysis

Technical analysis is vital for being a successful trader. It ensures that you can properly analyse the market and takes you one step ahead, allowing you to acquire the finest opportunities in the market, precise entries and timing, adequate knowledge of when to enter and/or exit a trade, and exactly where to place your SL and target. This course will educate you with the technical and analytical skills necessary to trade with high accuracy, using a powerful combination of different techniques.

Risk Management

The provider will educate you on how to mitigate these challenges and improve your risk-to-reward ratio throughout this session. They will also explain strategies and techniques to keep you on the winning side at all times, using genuine examples from their personal accounts.

Trading Psychology

Trading entails more than simply technical skills. In reality, even if you have excellent technical skills, you may still struggle to generate money in the market. This is due to certain traders’ bad trading mindset and psychology. Some traders may trade in such a manner that they experience large drops/losses from time to time, which detracts from their overall performance. This is when psychology enters the picture. Psychology accounts for over 80% of trading, and having the appropriate psychology is necessary for growth.

Fundamental Analysis

Fundamentals are important in trading since they have a large influence on the market and generate large movements in a short period of time. They understand when and how these fundamentals affect the market, and they will teach you how to read them and utilise them to your advantage in your trading.

Pros
  • Free and premium forex signals
  • 24/7 support
  • 2000 pips monthly target
  • 5-9 trades per week
  • 20 currency pairs and metals
  • Chart Analysis, Clear SL, TP & BP
  • Signals are delivered via Telegram.
  • 30 day, 100% money-back guarantee
  • Succession rate 89.54 – 93%
Cons
  • No tracked results for credibility

Direct Forex Signals

Direct Forex Signals is a well-known UK-based signal provider. The platform has almost 17,000 active members, demonstrating the provider’s reputation in the online signal space. Even more astounding, the Direct Forex Signals provider claims to have a signal success rate of more than 85%.

Direct Forex Signals
Direct Forex Signals

Although these claims seem to be quite ambitious at first glance, the provider is so confident in what it offers that it offers a 30-day money-back guarantee. Importantly, this allows you to test the forex trading signals using a brokerage demo account without risking your actual money. Then, if you discover that the signal service does not live up to your expectations, you can easily request a no-questions-asked refund from Direct Forex Signals.

In terms of signal transmission, the provider provides a mobile application. When a trading opportunity is hunted, you will be notified through the mobile app. You may also choose to receive signals via email or any other channel. When it comes to pricing, this signal provider has three options. If you wish to join up on a monthly basis, it will cost you £30 a month. If you wish to benefit from a lower monthly price, a 3- or 6-month plan could be worth considering.

Direct Forex Signal
Direct Forex Signal

At £55 and £85, this works out to slightly over £14 and £18 per month, respectively. You will receive 1-5 signals every day across all three plans. This ensures that you never miss a suitable trading opportunity. It just takes 30 seconds to join up and pick a plan, and you don’t need any previous trading experience to benefit from the provider’s recommendations. Direct Forex Signals provides 1-1 live messaging for customer support.

Pros
  • Claimed success rate of 89%
  • Option to purchase FX course
  • 12-15 setups per day
  • Chart analysis and market info were also sent out
  • Live 1-to-1 messaging
Cons
  • No verified results

Daily Forex Signals

Daily Forex Signals offers its signal service through a native mobile application. The provider offers many forex signals throughout the day, and everything is based on technicals. Daily Forex Signals will do research on charts on your behalf and notify you when a potential money-making opportunity arises.

Daily Forex Signals
Daily Forex Signals

The daily pivot breakout is one of the most often used indicators that the provider focuses on. When the mobile app sends a notification to your phone, you will be given all of the information you need to take action on the suggestion. Of course, this includes the currency pair in question and the entry and stop-loss prices. Most crucially, Daily Forex Signals offers multiple take-profit prices. This is appealing to us since it allows you to select your own risk/reward ratio.

Daily Forex Signals
Daily Forex Signals

For example, if you wish to be more conservative with live forex signals, you might choose a lower profit target. Contrary, if you are confident in the trading recommendation, you may choose the higher target. In terms of trading results, the Daily Forex Signals team notes that it aims to make a minimum of 100 pips every month.

Keeping this in mind, your stakes will ultimately determine the amount you may earn in pounds and pence. Finally, Daily Forex Signals recommends that all customers check fundamental news regularly. This is because its technical indicators will be aware of major market developments that might impact the value of a currency. Instead, technology focuses only on the technicals.

Pros
  • Forex signals via a mobile app
  • Targets 100+ pips per month
  • Multiple take-profit targets
  • Focuses on technical indicators
Cons
  • You will need to be aware of the fundamental analysis

FXStreet

FxStreet was founded in 2000 and has been providing Forex traders with tools to help them make investment decisions for the last 20 years. FxStreet has already established itself as one of the leading information providers for Forex traders. As a result, their objective of being the leading provider of Forex information and tools is rapidly approaching.

FXStreet
FXStreet

FxStreet today employs around 60 people, with just about half of them based at its headquarters in Barcelona. Because the remainder of the employees is dispersed throughout the globe, information retrieval via FxStreet is available 24 hours a day, seven days a week, in over 17 languages. German traders will also be pleased since most of FxStreet’s offer is also translated into German, making it particularly user- and reader-friendly.

FXStreet is a leading provider of forex trading signals in the UK, with a stellar reputation in the market. The provider offers around five signals every day, albeit this is not a fixed number and may be significantly lower. Furthermore, FXStreet provides signals in various timescales spanning from minutes to days.

FXStreet employs a variety of trading techniques, including a Mean Reversion Strategy and a Random Coastline Sell strategy, all of which may be broken down by win rate on the provider’s website. The majority of the strategies are technical in nature and generate signals between 8 a.m. and 4 p.m. UK time.

This signal provider charges €35 (£29) per month for their signals service, which includes access to all signals, a desktop and mobile app, and a communication channel with FX professionals. However, you may instead spend €319.92 (£271) for a year-long membership, bringing the price down to €26.66 per month!

Pros
  • Great trading reputation
  • Employs various strategies
  • Signals from multiple timeframes
  • Around five signals per day
Cons
  • Doesn’t work like a traditional signal provider

DDMarkets

Since its inception in 2014, DDmarkets has earned a strong reputation in the FX trading scene. This provider is proud in its analysis, presenting each signal with technical and fundamental information for traders to review before placing a trade.

All signals include a stop loss, take profit, entry price, risk ratio, and estimated duration, requiring no additional research. Furthermore, DDmarkets aims to achieve a minimum risk-to-reward ratio of 1:3 on each signal, with timeframes ranging from hours to days. DDmarkets does not specify its exact success rate, although claiming to be quite consistent mentioned on its website.

DDMarkets
DDMarkets
DDMarkets
DDMarkets Price

DDmarkets provides traders with various plans, including short-term and long-term subscriptions. The Global Trade Alerts 14-day plan is the lowest, costing $46.12 (£34.60). You may also choose the Intraday plan, which is slightly less expensive at $38.27 (£28.70). Finally, you may enjoy the best of both worlds by signing up for the Advanced Integration Plan, which costs $92.93 (£69.73) for 30 days and includes instant email notifications and secure PayPal payments.

Pros
  • Been around since 2014
  • Minimum of 1:3 risk-to-reward ratio
  • Various plans to choose from
  • Provides technical and fundamental reasoning
Cons
  • Doesn’t specify the win rate

Forex Signal Factory

This service provider employs a team of professional traders to generate trade ideas that are delivered to users in real-time. The traders behind Forex Signal Factory trade live accounts using their own money, ensuring they have a financial stake in succeeding trade ideas.

forex signal factory
forex signal factory

The website of Forex Signals Factory is rather basic, with little information provided for potential users. They claim that their service has no hidden expenses and is not associated with any forex broker. However, they provide some free forex signals through their Facebook page, which has over 14,000 followers.

Pros
  • Backed by a team of professional traders
  • Traders use their own money to follow the signals
  • Huge fan following on Facebook
Cons
  • Not clear information
  • Success/Growth rate is not authentic

WeTalkTrade

If you’re seeking a forex signal service that provides free forex signals, WeTalkTrade has you covered. They provide free forex signals through their convenient app, which is available on both Google Play and the App Store. WeTalkTrade claims an 80% success rate on their website, yet there is no MyFXBook support for this.

wetalktrade
wetalktrade

WeTalkTrade has both a free and a paid plan, but both provide the same number of signals. Notably, on their paid plan, WeTalkTrade provides a copy trading option that you can install through MT4 or MT5, and this will instantly execute the signals on your account. The paid plan costs $79.99 per month and comes with 24-hour support.

wetalktrade price

Pros
  • Free forex signals provider
  • Dedicated app for users
  • Both free and paid plans offered
  • Copytrading feature on the paid plan
Cons
  • No verified results
  • Higher price point

How To Find Effective Forex Signal Providers?

Before selecting a forex signal provider, you need to consider many crucial factors. It will assist you in making the best decisions, but it will also make you achieve your trading and financial objectives in the shortest time. Here are some of the most significant factors to consider while selecting the best forex signals and providers.

Experience In The Industry

If you’re a seasonal trader, you’re probably aware that maintaining a consistent profit in forex trading is an easy task. Not only does your personal experience crucial, but so does the provider’s experience. As a result, the first and most important factor to consider when choosing a forex signal provider is age and experience. It will help you to comprehend the provider’s consistency over time.

Quality Over Quantity

“How many signals will the provider offer daily/weekly?” is a common question among Forex traders seeking forex signal providers. It is, without a doubt, the correct question to ask, and you may choose the one that provides signals at the frequency that meets your requirements. However, it is also important to remember that trading more does not automatically imply earning more. The number of trading signals available might vary, as can their quality. Instead of jumping and staying in the market all the time, consider picking the right spot.

Automation

You may receive trades by SMS or email, depending on your forex signal provider. However, some signal providers entirely automate the process. Some forex trading signal providers also enable you to copy trades made by other traders in real-time automatically.

You need to establish your trading parameters, and the signals will handle the rest. It doesn’t certainly mean that automating the trade is a better option. In actuality, it’s simply a question of personal preference, but we recommend that you look into all of your options.

Success Win Rate

The first measure you’ll probably come across when choosing a forex signal provider is their win rate. This refers to the average percentage of profitable signals for those who are unfamiliar. For instance, if the win rate is 89%, it indicates that 89 of every 100 signals are successful, while 11 are not.

The higher the strike rate, the more successful the signal provider is considered. However, you must also investigate the veracity of the platform’s claims.

For instance, just because a provider claims to have a 99% win rate does not mean that its claims are truthful. As we will see shortly, this is why you should only utilise a forex signal service that offers a free trial or some type of money-back guarantee.

Fees

Although it is sometimes said that the best things in life are free, this is not true in the realm of trading signals. The provider is in there to make money. They wouldn’t devote their time and effort to building an automated algorithm from the ground up if they didn’t have to. Resultantly, to get the most out of a forex signal provider, you’ll almost certainly need to sign up for a monthly membership.

Although it is noteworthy that if the provider offers reasonable prices and low-cost forex signals, this should not be your primary focus. In other words, it offers all well and well to locate a forex signal platform that charges just £5 per month, but you have to wonder how successful its services would be at such a cheap price. On the other hand, although £100 per month may make to be excessive, if the provider’s signals are extremely accurate, you have the potential to earn considerably more.

Having said that, it is still critical that the provider offers a clear and transparent pricing structure and the ability to terminate your membership at any time. When you purchase forex signals online, this ensures that you are not stuck into a long-term membership that you no longer desire.

Free Trial or Money-Back Guarantee

As we briefly said before, you must be able to check the credibility of the service provider’s win rate. The best way to accomplish this is to test the signals with a forex brokers demo account. As a result, you will not lose any trading funds if the provider’s signals are subpar. You might also seek proof of their track record on Myfxbook.

However, you may still have to pay the price to access the live forex signals. This is why you should go with a provider that offers a free trial period. More importantly, if the provider offers a money-back guarantee, this is just as valuable.

Time-Zone

Although the currency trading market is open 24 hours a day, certain forex signal providers will only give out recommendations during business hours. That instance, if a provider is based in the United Kingdom, you may receive signals between the hours of 8 a.m. and 6 p.m. local time. However, if you sign up with a provider in the United States, this may be an issue. After all, the signals are most likely to come during US trading hours. As a result, you must check what time the signal provider normally sends its ideas and, as a result, whether it is suitable for those of you based in the UK.

How do Forex Signals Work?

Despite the forex signals are suitable for traders of all skill levels, it is important to understand how the whole process works. After all, acting on a suggestion involves risking your own capital at risk.

Automated Technology

First and foremost, let’s explain how forex signal providers get their information. While some platforms depend only on human analysis, the best forex signal providers use automatic technology.

That is, the provider will develop and install an algorithm capable of scanning the currency markets 24 hours a day, seven days a week. The core technology will be backed up by a set of technical indicators that will analyse previous pricing patterns and how they connect to current price movement.

AI frequently supports the technology to guarantee that the algorithm can work automatically. This implies that the signal provider can locate trading opportunities at all hours of the day and night without the need for human interaction. The technology will then communicate its results to signal service users when it detects a potential market shift.

Signals Sent in Real-Time

The currency trading arena is open 24 hours a day, seven days a week. Because market sentiment may shift at the drop of a hat, acting on forex signals immediately is critical. As a result, the best forex signal providers will give you a real-time notification as soon as a trading opportunity is found.

Top-rated providers have chosen Telegram because it ensures that you receive a notification on your phone. Furthermore, Telegram is an excellent platform for signal providers to exchange crucial ideas with users. It also gives a sense of community to the signal service since you can communicate directly with your fellow members.

Alternatively, some forex signal providers in the United Kingdom may use email. Although this is likewise delivered in real-time, it is not as dependable as a Telegram notification. This also means that you won’t be able to exchange important ideas and market insights with other subscribers.

Free Forex Signals vs Paid Signals

We often discover that ‘free’ forex signal providers are not really free. This means that you may receive a signal without paying for it. However, the provider is likely to blackout the entry or exit price required to act on the suggestion. As a result, they are not really free forex signals.

For example, you may receive the required stop-loss and take-profit targets but not the entry price. You will then need to join up for the provider’s subscription service in order to get this information. If you don’t, the ‘free’ signal is almost useless since you need to know what price to execute the transaction at!

In other circumstances, the free forex signals provider may offer you all of the required information without omitting anything. However, such providers are seldom worth considering. After all, why would a trading signal provider spend a significant amount of time building their product simply to give it away for free?

What do Forex Trading Signals Look Like?

The provider must satisfy a set of minimum standards in terms of what forex trading signals look like. Importantly, you must receive both entry and exit order prices and the stop-loss and take-profit goals.

A forex signal might look like this:

  • Pair: USDJPY, USDGBP etc
  • Order: Buy/Sell
  • Entry: Any Value
  • Stop-Loss: Any Value
  • Take-Profit: Any Value

As you can see from the examples above, you have 5 important data points at your disposal. You are aware of the pair you will be trading, whether it is a buy or sell order. You also know what price you should join the market at. The most important thing is that you have a stop-loss and take-profit price.

You don’t need to do anything extra after acting on the signal. Instead, your trade will be automatically closed when either the take-profit or stop-loss price is triggered.

Conclusion

To summarise, this guide has covered forex signals in great length, covering the best options available to traders and highlighting the essential factors you should pay attention to when choosing a provider. Forex signals, when applied effectively, may simplify your FX trading, allowing you to trade the market effectively and semi-passively. If you want to start utilising forex signals right away, we strongly recommend ForexSignals.io.

 

Leon O'Neill

I’ve been working in the trading industry since 2009. I’ve written more words on trading than I can remember, and have provided content for some of the biggest names in the business. When I’m not writing, I enjoy running and making my own trades. I’m interested in the crypto and meta space - where blockchain is intersecting with traditional finance, and digital currencies are starting to impact global markets.
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