As the market turns volatile, traders make their entries, hoping to earn big money through currency trading. It is not necessary for a profitable trader to be a market expert. Nowadays, many individuals are making huge profits through trading signals. Before you sign up with a service, however, you need to know about a few things. To help you out, we have made a list of some of the top services in this category.
Top-Rated Forex Signals Providers
| Â | Forex Signals | Signals Source | Trading Instruments | Frequency | Verified Results | Price | Website |
| 1 | TechBerry | 100k+ pro accounts | All currency pairs | Varies | Yes | $0-499/month | visit |
| 2 | Zero To Hero | telegram, email, sms | EURJPY, USDJPY, +4 more | 4-10/day | Yes | $95/month | visit |
| 3 | Signal Factory | telegram, twitter | EURUSD, GBPAUD, +13 more | 10-20/day | Yes | Free; Paid Bots | visit |
| 4 | Pips Alert | email, sms, browser, app | FX Pairs, Commodities | 3-5/day | No | $59/month | visit |
| 5 | FXLeaders | email, app | FX, Crypto, Indices, Commodities | 3-5/day | No | $59/month | visit |
| 6 | MQL5 | MT4/5 copy trading | All currency pairs | Varies | Yes | Free; Paid | visit |
| 7 | FXPremiere | telegram | EURUSD, USDJPY, +6 more | 2-15/day | No | $37/month | visit |
| 8 | FX Profit Signals | telegram, email | EURUSD, GBPUSD, +12 more | 5-7/day | No | €69/month | visit |
| 9 | Wetalktrade | app | EURUSD, GBPUSD, +10 more | 3-5/day | No | $79/month | visit |
What is behind FX signals?
Forex signals are trade recommendations that instruct you on how to place the deals with your broker. In general, signal providers employ a team of experts that conduct large-scale market research and apply technical and fundamental analysis principles to generate the signals. These recommendations contain information like entry price, type of order, stop loss, and take profit.
Novice traders and experts alike look for reliable signals. When you trade based on your instinct, you might end up making a bad decision. Signals allow you to determine when to make your entries and exits based on volume and price action analysis.
Our list of the most recommended and profitable Forex signals
Not all Forex signals service providers have the same characteristics. In order to determine which one is most suitable for you, it is important to research each of them in detail. Here, we have presented some of the top services in the market.
TechBerry
What will you get?
TechBerry is a global leading social trading platform that has the potential to double your funds within one year. It supports the top brokers in the market and offers live records to track performance. Such high profits are made possible using a neural system that generates a high win strategy by collecting data from over 100K trading accounts.
By subscribing to one of the packages, it is possible to get access to a personal manager and full loss reimbursement, depending on the capital. With the help of the plan configuration, subscribers can check out their yearly returns.
Pros
- Easy to use interface
- Real-time trade monitoring
- Funds secured with FIDC insured banks
- Supports over 50 top brokers
Cons
- The platform AI is not clear on the strategy, as it depends from social data
Zero to Hero FX Signals
What will you get?
This is a UK-based Forex signal service provider that aims to provide reliable and accurate signals. It has an experienced team of analysts who conduct technical and fundamental analyses for each signal. On this platform, you can get trading signals for multiple pairs.
Pros
- Free trial available
- 4-10 signals daily
- Multiple currency pairs supported
Cons
- Historical results cannot be verified
Trading results
This is a verified trading account on FXBlue that has a trading history of 209 days. As you can see, Zero to Hero FX Signals has a decent win rate of 56.3%. The profit factor for this account is 1.24, while the monthly and weekly returns are 9.7% and 2.2%, respectively. To date, a total profit of $2790.92 has been generated through this account.
On the Trustpilot website, this signals provider has an average rating of 4.3. This tells us that most people consider this service reliable. Users have praised the excellent customer service and the recommendations provided through the signals.
Forex Signal Factory
What will you get?
Forex Signal Factory is one of the best trading signal providers having a global community with more than 45,000 members. This platform avoids using risky money management techniques like martingale and assesses the performance of the signal provider in terms of net pips change. It is a free service that does not require you to sign up with a partner broker. Traders can receive 10-20 signals on a daily basis.
Pros
- Professional advice
- Works on mobile devices
- Can be linked with an existing trading account
- Social media access
Cons
- Lack of strategy insight
- Lack of vendor transparency
Vendor’s experience
There is little or no information on the parent company and the analysts generating the signals. As such, we don’t know what kind of experience they have.
Customer support
This service provider offers support through multiple social media platforms. On the Facebook page, there is a contact number that you can use to get in touch with the support team. The official website does not have a live chat feature.
Pips Alert
What will you get?
This daily signals provider service aims to provide recommendations that improve the long-term outcome for the traders. The company is transparent and has an internal team that investigates all the trades, making modifications if necessary. You get detailed feedback on the reports as well as backtest results by Trading View.
Thanks to the sleek online dashboard, you can easily manage the signals. You can also access in-depth analysis for all of them. Although this is a paid service, you can test the service using the 14-day free trial.
Pros
- Signals provided by experienced traders
- Affordable subscription plans
- Free trial period
- Training course for signals
Cons
- Unverified user testimonials
- Unverified past results
Customer support
There is no contact information for the customer support team. If you require support, you can consult the FAQs section on the official website. Alternatively, you can raise a support ticket, provided you are a paying member. The website also has a contact form that you can use to send a message to the support team.
Customer reviews
Pips Alert has an average rating of 3.3 out of 5 on Trustpilot, which can be considered decent. Several users have praised the detailed analysis and the weekly and monthly reviews of the performance.
FXLeaders
What will you get?
FXLeaders is an Israel-based signals provider that generates signals using advanced strategies like Fibonacci, Support and Resistance, Scalping, and Hedging. The expert traders employed by the company analyze things like market volatility, sentiment, and Forex-related news updates. If you choose to open an account with the partner broker, you can get free signals for a year.
In the signals, you can see information like current status, pair, type of trade, entry price, stop loss, and take profit. However, to see the entry price, you need to sign up for the premium service. Premium users also get access to long-term and swing trading signals.
Pros
- Detailed instructions on how to use the signals
- Multiple strategies applied
- Regulated platform
Cons
- Certain features only available for premium members
- No verified trading results
Customer reviews
FXLeaders has a decent rating of 3.6 on Trustpilot. Users have expressed their satisfaction with the service and stated that it provides accurate information. One user has proclaimed that it is the best Forex trading platform.
MQL5
What will you get?
This website offers trading recommendations for MT4 and MT5 users. There are many independent signal providers on this platform, and you can copy their live trades. You can see the performance of each trader in terms of ROI, maximum drawdown, and the number of trades conducted.
The best thing about this platform is that all of the trading results are verified by the moderators. You can also test the performance of the signals using demo accounts. You can check the user reviews on the profiles of the signals providers. While the service is free, some traders charge a fee for other individuals copying their signals.
Pros
- A large number of strategies
- Multiple choices in terms of brokers
- Verified results
- Integration with MT4 and MT5
Cons
- Some traders only have demo accounts
- Permanent connection to MetaTrader required
Vendor’s experience
MetaQuotes, the parent company of MQL5, was launched in 2000, and it is internationally renowned as a reliable financial software provider. The MQL5 platform itself was introduced in 2010, and it is currently one of the largest trading communities in the world.
FXPremiere
What will you get?
This signals provider sources its signals from more than 50 different traders. Traders can receive signals for different pairs like USDCAD, NZDUSD, USDCHF, AUDUSD, GBPUSD, EURGBP, USDJPY, and EURUSD via Telegram. For the free plan, only 1 signal is provided every day, and VIP members receive up to 15. In the signals, you can see the entry price, the stop-loss price, and the take-profit price.
The signals provided by FXPremiere are based on indicators like Moving Averages, Bollinger Bands, Support and Resistance Levels, and Fibonacci Retracement Levels. Whenever there is a lucrative trading opportunity, you will receive a live alert via Telegram.
Pros
- Multiple signals sources
- 24/7 support available
- Up to 15 daily signals for VIP members
Cons
- No verified performance statistics
- Lack of vendor transparency
Customer support
The live chat feature on the website is available from 8 AM to 10 PM, Switzerland time. Support is also provided via Telegram.
Most of the reviews for FXPremiere on Trustpilot are positive. It has an average rating of 4.8 out of 5, which is quite impressive.
FX Profit Signals
What will you get?
One of the top Forex signals providers, FX Profit Signals, has a record of earning 35638 pips profit for 1 year. This company employs a team of experts that apply manual trading schemes for the Forex market. They generate the signals with the help of various indicators and each is accompanied by profit targets and stop losses. Here, you can find mainly two types of signals, namely pending orders, and market execution.
By signing up with the partner broker, you can get a 50% deposit bonus and a $30 welcome bonus. This also provides you with a maximum of 1:888 leverage, swift withdrawals, and low spreads. The strategies followed by the analysts include trend following, trend reversal, and counter-trend.
Pros
- High profitability
- Accessible trading history
- Different types of signals
- Various subscription plans
Cons
- Trading results not verified by the third party
Trading results
Here you can see the trading results of FX Profit Signals. While most of the traders have been closed in profit, we can see the occasional loss. The vendor has not tried to hide the losses, which is a good sign.
WeTalkTrade
What will you get?
WeTalkTrade is a platform providing profitable forex signals for MT4 and MT5 users. According to the vendor, the signals have an average success rate of 80%. Thanks to the elegant user interface, even novice traders can use the signals effortlessly. You can easily check between the most recent closed and the currently active signals.
Here, you can find trading signals for 12 currency pairs for all timeframes. Premium users get a higher win rate, copy trading, and 24/7 support. You can also check the economic news releases of different countries and their impact on the price of Forex pairs by consulting the economic calendar. This helps you predict future price movements.
Pros
- Instant alerts
- Both manual and automatic options are available
- Signals executed instantly
Cons
- No verified trading results
- Lack of strategy insight
Vendor’s experience
WeTalkTrade was founded in 2009. In August 2012, the company launched the free Forex signals page providing real-time signals. By March 2018, the signals app had reached more than 100,000 installs on Google Play.
Why is finding a good Forex signal provider so important?
If you are a beginner, it is a safe bet to place your trust in signal services. You don’t need to make any modifications to these recommendations. While some providers allow you to automatically mimic the deals, others need you to manually input the parameters.
Professional traders can use signals to confirm their analysis. They can conduct additional analysis to improve the signals or modify them based on their risk tolerance.
How to choose the best FX signals providing sites?
Before registering with a particular service provider, there are some vital factors that you need to keep in mind. This way, you can get the best out of your service. Let’s discuss each of these factors in detail.
Signal service trading experience
The reliability of the signals depends largely on the technical expertise and knowledge of the individuals generating them. Thus, it is imperative to sign up with a service that employs only experienced analysts. You should check how long the provider has been active in the market.
Look for free FX signals
If you are a novice trader, you may consider looking for a Forex signal provider that offers its services for free. However, you should keep in mind that free services often turn out to be scams. Sometimes their signals might not be based on sound analysis.
Signals offered by trading platforms
Some trading platforms like MetaTrader 4 allow you to automatically copy the live order executed by other experts. A few of them have social trading features that allow you to interact with fellow traders and discuss trading ideas.
Reliability and reputation
Signing up with a reliable service provider is always a prudent course of action. You can check user reviews on third-party websites to see what other individuals are saying about the service.
Time frames and time zones
It is vital to make sure the signals provider is located in your time zone. Otherwise, you might receive the recommendations during odd hours, which would make it difficult for you to execute them. You should be able to use the signal at the right moment, or the opportunity might pass.
Brokers supported
Not all service providers are compatible with all brokers. If you are already signed up with a broker, you should make sure the signal provider supports it. Some services might offer incentives for signing up with a partner broker.
What are the types of FX trading accounts?
Different Forex accounts come with their own sets of pros and cons. Your choice should depend on your starting balance, risk tolerance, and the amount of time you spend daily for trading activities. Here are the different types of accounts.
Standard
This is the most commonly seen account type. Here, you get standard lots, each having a value of $100,000. However, you don’t need such a large sum of money to start trading. Due to leverage and margin, you can get started with just $1000.
Mini
With this type of account, you can conduct orders through mini lots. The majority of brokerages calculate the value of a lot as $10,000. Mini accounts are especially suitable for newcomers who do not wish to make large investments initially. Most brokerages offer this type of account to attract new customers.
Managed
With managed accounts, you own your funds, but you have little control over the trading decisions. You select the risk percentage and set a profit objective. After that, the account managers carry out the operations. For higher gains, you can join a pooled fund, but individual accounts provide consistent rewards.
Which one to choose?
If you are short on funds, it is always better to go for a mini account. Standard accounts require a large initial investment, and they are prone to sizeable losses as well as profits. In case you have a lot of money to spend but lack time to execute trades, a managed account will be perfect for you.
What to look for in good Forex signal providers?
Before signing up with a service providing Forex trading signals, you should check its past performance. There are dishonest vendors who make false claims on their websites, so you should always verify them. A reliable vendor will always have a refund policy in place. The final thing to look for is the pricing structure. Those offering monthly subscriptions are usually more reliable because they have to ensure a high quality of service to prevent clients from leaving.
Automated vs. manual Forex signals
Fx signals can be broadly divided into two categories, namely automated and manual. There are subtle distinctions between the two, and one needs to keep them in mind before using a service.
Automated Forex signals
These are generated via algorithms and robots that scan the price charts for recurring patterns and make forecasts related to price shifts. They run on the basis of a program created by expert analysis and provide trading suggestions to the user. These signals might not consider certain factors like random price shifts and volatility.
Manual Forex signals
These types of signals come from human traders and analysts. They use their experience and technical know-how to carefully research the market. It is common for such signals to be based on sound technical and fundamental analysis. Since these are generated by real analysts in real-time, they take into account all the latest market conditions and are thus considered more reliable.
The pros and cons of Forex signal services
Let’s look at the various advantages and disadvantages of Forex signal providers:
Pros
- Reduces time and effort: It is common for a trader to spend a long time testing trading ideas. With the best Forex signals, you can drastically reduce the time and effort spent in research.
- No technical knowledge required: It takes a fair bit of knowledge to conduct fundamental and technical analysis. With Forex signals, someone else performs the hard task for you. Thus, even beginners can make good use of them.
- Accessible trading history: Reliable service providers allow you to see the trading history so you can see how the strategy fares in the live market.
Cons
- Limited access to trading rules: Most providers do not divulge the exact logic behind the entries and exits.
- No skills learned: It is not possible to improve your trading skills when you copy the trades of other individuals.
Are Forex signals safe and legit?
This depends entirely on the source of the signals. A trading recommendation is only as good as the person generating it. Thus, you should always look for services that employ expert analysts with several years of experience behind them.
What FX signals service is right for you?
There are various factors to consider when it comes to choosing the right signals provider. You should look for transparency and a verified history of generating profits. A reliable service should have a dedicated customer support team as well.
Summary
By signing up with a trustworthy signals service, you can maximize your gains from the Forex market. In general, paid signals are more likely to win your profits since they are based on extensive research. That being said, you should not place your trust blindly in trading signals. It is always wise to trade manually since the market tends to make unpredictable movements.
