Are you a new trader completely unaware of currency market dynamics and struggling to find potential trading opportunities? If, yes, we have a solution for you.
Forex signals can help you determine the right opportunities at the right time. In this blog, we will discuss the best forex signal providers globally and their key features. It will help you in selecting the right one based on your needs.
An Introduction to Forex Signals
Forex trading involves buying and selling currencies and making a profit from the price change. Traders buy when they think a currency value will rise and sell when they think it will fall. However, identifying when, how, and which pair to buy or sell is quite difficult. It requires proper time, research, knowledge, and analytical skills.
A newbie might struggle to identify trade opportunities in the vast forex market with so many pairs. Thus, forex signals came into existence to help such traders.
Forex signals are valuable trade alerts that tell traders when and how to buy or sell a currency pair. Generally, a forex signal consists of entry, exit, stop loss, and take profit information. Advanced forex signals also involve risk to reward, analysis, and logical reasons behind the findings.
8 Best Forex Signal Providers
Numerous platforms are in the market, claiming to be amongst the top forex signal providers. However, traders need to be very careful while selecting a signal service.
You can even get free forex signals from various telegrams and other social media groups. However, the authenticity of such platforms is questionable, and it may result in unfavourable outcomes. But not to worry. In order to help you out, we have prepared a list of good forex signal providers. Have a look at it:
ForexSignals.com
ForexSignals.com got first place on our list with a great reputation and a global client base. The best part about this platform is that you can even get free signals for free. You just need to visit the website, and you will find multiple free signals. So, before subscribing to the paid signals, you can try them first.
Apart from signals, you can access data like signal accuracy and results with monthly summaries, hourly tips, guides to learn trading basics, chart patterns, and many other resources. In addition, premium signal services are quite affordable. Traders can buy a one-month plan at $29, a three-month plan at $59, and a six-month plan at $89.
Autochartist
Autochartist is an algorithm and automated trading system-based platform. It provides traders with valuable alerts based on technical analysis. The computer system studies trading charts, market volatility, macroeconomic events, and News Sentiment to generate trade alerts.
The forex signal provider is best for traders who prefer data trading. Also, you can get a number of advanced trading tools from Autochartist. Scalpers, copy traders, and automated traders can try this platform.
1000 pip Builder
1000pip Builder is amongst the world’s best forex signal providers with over 10 years of experience. You will get 1 to 5 trades on a daily basis with clear entry, stop loss and take profit. Customer support is available 24 hours a day and five days a week.
With a great success rate and track record, 1000 pip has become a popular choice for traders. The signals are generated on the basis of technical and fundamental analysis of market conditions. Also, you can get access to a range of educational and training resources on the platform.
MQL5
If you are an active forex trader, you must have an account on Meta Trader or have heard about it. Meta Trader is a widely used platform for executing trades in currency pairs. Apart from being a trading platform, Meta Trader provides a range of trading-related services.
Meta Trader’s MQL5 is amongst the most reliable forex signal platforms, where you can get multiple paid and free signals. You can get access to thousands of signals at different prices that are suitable for a variety of strategies.
A quick glance
Forex signals are valuable trade alerts that tell traders when and how to buy or sell a currency pair.
A forex signal consists of entry, exit, stop loss, and take profit information. Advanced forex signals also involve risk to reward, analysis, and logical reasons behind the findings.
- ForexSignals.com
- Autochartist
- 1000pip Builder
- eToro
- MQL5
- Learn2 Trade
- Carlos and Company
- IG Trading Signals
Autochartist is an algorithm and automated trading system-based platform. It provides traders with valuable alerts based on technical analysis.
Meta Trader’s MQL5 is amongst the most reliable forex signal platforms, where you can get multiple paid and free signals.
eToro
eToro is a popular forex broker platform for trading in different financial instruments. With forex brokering services also provide copy trading signals to traders. So, if you are a trader looking for a forex broker with signal services, etoro may be an ideal choice.
The broker has a large community of forex traders from all around the world. Traders can get multiple social trading signals on the platform, copy them, and execute the trade. Also, apart from forex, you will also get signals for trading stocks, indices, cryptocurrencies, commodities, and other products.
Learn2 Trade
Learn 2 Trade is another popular choice for crypto and forex signals, with a community of over 70,000 traders. The best part is the platform offers a success rate of 76%, which is quite high compared to the other platforms.
You can get both free and paid signals on Learn 2 Trade. The platform also provides a 30-day money-back guarantee with paid signals. You can access VIP telegram groups, where you can connect with different professional traders.
Carlos and Company
Carlos and Company is a leading forex trading signal provider suitable for all sorts of traders. You can get forex, comex, crypto, and indices signals. The research team generates the signals after organizing proper fundamental, sentimental and technical analysis.
Apart from signals, you will get daily research reports, market analysis, personal assistance, and educational resources. The firm also provides the facility of free signals in the beginning, so you can try and test its services. In addition, you can get all the information related to its signals and services.
IG Trading Signals
IG Groups is amongst the most reputed platforms that provide a range of financial trading services. The great customer base, large community and experience make it a good option. IG’s signal services are also quite popular amongst traders.
The platform is best for people who cannot afford to pay for signal services. You just need to open a trading account with IG to access free forex, index and commodities signals. However, one important thing to know is IG uses third-party signal services. Platforms like Autochartist and PIA generate IG’s signals.
Free Forex Signals vs. Paid Forex signals
One of the biggest confusions traders face is whether to go for free or paid forex signals. With numerous service providers in the market, you can easily get both free and paid signals.
You are putting your hard-earned money based on forex signals or trade alerts. With free forex signals, the quality is questionable. When the service is free, no one is liable. So, going for free signals is not a great idea. You can use free signals for testing purposes. But when placing trades, you should consider paid signals.
Paid signals may involve significant costs, but they come with comprehensive analysis and a good winning rate. However, if you don’t have enough money to subscribe to paid signal services, you can go for a free signal. Generally, traders use random signals they receive from WhatsApp or Telegram groups. But that’s not a good idea. In this case, you can go for free signal services with a reputable platform like we have discussed above.
However, whether you go for paid or free signals, your knowledge plays a crucial role. No expert or professional platform can give you 100% accurate signals in the market. Thus, depending entirely on signals is not a great idea. So, your own market understanding is important even with the best forex signal providers.
Wrapping Up
Forex signals have both advantages and disadvantages. Many people avoid signal services due to the increase in signal scams and fraudulent activities.
However, forex is the largest financial market with dynamic trading conditions. Identifying the trade opportunities may be a critical task, especially for beginners.
Thus, there is nothing wrong with using signal services. However, make sure you are going for a reputable platform with a good track record.
With the above best forex signal providers, the probability of scams is zero, and you will get quality signals. Also, in case of any mishap, you can seek help from customer support.