Are you looking for Professional Forex signals that work? Read on – Forex And Profits have taken a closer look at some selected Forex signals that actually work!
How are Forex trading Signals used? Forex signals are used by Forex traders all over the world to aid them in making critical decisions about their trades. Many of our readers ask: Should I consider to use trading signals? The signals are one of the most important tools a forex trader has and almost all traders choose to use them in one way or another. Another question we have got is: Do Forex Signal cost anything or can I use free Forex signals? There are many types of forex signals systems, some are offered completely for free while others charge a weekly or monthly fee – but take in mind that a trustworthy service should include information about take profit and stop loss configurations.
Background – why Professional Forex signals are needed
The foreign exchange (Forex) market is highly volatile, and there are an uncountable number of factors in play that affect the relative value of global currencies. Although geopolitical events and large-scale market events can make upcoming fluctuations visible, tracking the smaller variances in relative value between two currency pairs is a much more complicated task involving a near-infinite number of variables, relationships and sources of information. Luckily for investors, large parts of this task have been automated, and algorithms have been developed which perform research and calculations independently and without pause.
Many of these algorithms generate results that are available to the public – using a Forex Signal Service, investors can sign up to receive instantaneous updates and trading recommendations based algorithmic and personal analysis of Forex markets. These services use RSS, SMS, e-mail, tweets, or other signalling methods to send updates to subscribers. These updates can include buy/sell recommendations, trading histories, entry/exit/stop loss figures, and graphs for different currency pairs – it is even possible to completely automate trading based on these services using software called a Forex robot on the subscriber’s computer. Then, to the question of the title: Where to find professional Forex signals? In this article, we review some the best and most effective of these services for beginning Forex traders:
ForexSignal.com – 20 years in the business
ForexSignal.com (not to be confused with ForexSignals.com) has been in business since 1998 and has been offering its subscription service since 2003. It is one of the more credible services – the site is conscientiously peppered with caveats and warnings rather than promises of instant success, indicating a degree of accountability in the site’s management. Further to this, the site publishes a full trade history going back 15 years for the perusal of potential subscribers – it is possible to evaluate the service’s success based on their results before paying for a subscription.
The site offers two tiers of membership, both of which offer basic signalling, e-mail and SMS updates, trend data, and real-time support. The Pro membership offers automatic trading in the subscriber’s MT4 account (a trading service licensed to brokers for the purpose of automating trading). The Standard membership costs $69USD/month, which the Pro membership costs $99USD/month. The service currently offers signals for 8 currency pairs (EURUSD, USDCHF, AUDUSD, USDCAD, GBPUSD, USDJPY, EURJPY, and GBPJPY.)
We understand the bottom line is you need to profit or you won’t want to follow us. Our signals are based on a strict criteria and generated selectively. We will wait as long as needed until a worthy trade is identified.
This Forex signal service is an easier way into the market, offering free signals that traders can copy and paste into their software. The site also offers extensive information and free training courses for newer traders as well as user reviews of brokers. Unlike ForexSignal.com, however, FM Market Leaders does not publish its signal results, and as a result it is difficult for traders to evaluate the success of the service over a longer period. FX Market Leaders is not quite as transparent as some signal services, but it is endorsed by Trade.com – opening a brokerage account with the latter entitles traders to 12 months of free signals from FX. Concerns have been raised by some reviewers over the ethics of a signal service steering traffic towards a brokerage, but thus far there are no known examples of this negatively affecting any consumers or traders.
FX offers three tiers of membership with a slightly confusing price structure: approximately $40 for one month, $25 for three months, or $10 for 12 months. The logic behind this is likely the service’s expectation of commissions from their partners at Trade.com, and the relationship between these two entities gives this reviewer pause. The currency pairs that FX provides signals for are not listed, nor is their methodology. No automatic trading functionality is available through their service. While there may be some additional value to forex traders as a result of this service’s relationship with Trade.com, it comes at the expense of transparency in their practices – individuals will have to assess their own risk tolerance.
Consider testing your skills on a demo account before purchasing access to a signals system so as not to throw your money away. At FX Leaders, you can get access to an advanced and professional signals service for free! Sound alerts, live email and mobile notifications, entry price, and signals performance reports are some the awesome features available to FX Leaders’ premium account users.
FXTM takes a slightly different approach than its competitors and incorporates in in-house brokerage. While this can and should raise alarm bells for Forex investors (the potential for a lack of accountability in such an arrangement is serious), FXTM is heavily regulated. It operates under the auspices of federal financial oversight in the United Kingdom, Cyprus, Belize and South Africa. As a consequence, it is operated with much greater transparency than some of its peers. 57 currency pairs are available in addition to a variety of other financial instruments.
There are two modes of engagement with forex signals available on FXTM – first, there is a traditional signalling service operating with MT4 and MT5 accounts. This system allows you to choose a successful trader and follow their movements. However, you don’t need to integrate your brokerage account or automate trading in order to benefit from their expertise. In addition to a signal advising a trade, FXTM has a social platform which publishes trades made by its community strategy managers. These strategy managers are other users who have agreed to share their trading advice in exchange for a commission on copied trades. It is possible to augment your investment income by becoming a strategy manager (with certain qualifiers).
Need a forex broker that you can rely on? You’ve come to the right place. We give you clarity, simplicity and transparency. We give you education, choice. Your priorities are our priorities. And if there’s anything you need help with, we are on hand to assist you straight away. We work every hour on the hour to make your trading lives easier and to offer you a unique trading experience.
FXTM Trading Signals are designed to interpret the fluctuations of key financial instruments based on the most influential factor of all – PRICE. Use thorough and carefully designed price-movement scenarios to enhance your trading on popular financial instruments.
Developed by FXTM’s Head of Education, FXTM Trading Signals put you one step ahead. Take advantage of the opportunity to enhance your strategy and potentially maximise your earning potential.
Conclusion – Get Professional Forex Signals from providers that have nothing to hide
As with any investment decisions, your choice of a Forex signal service should be made with great care taken. There are literally thousands of these services popping up every day, and for each new service there is a sponsored review providing promises of huge returns with no verifiable information to back up its claims. When approaching a new service, particularly one that asks for your credit card information or offers a combined brokerage service, it is wise to take a guilty-until-proven-innocent approach to a service’s credibility and seek out information on its management and professional affiliations. A service that has nothing to hide will hide nothing.
By seeking out genuine reviews and factual information about a service before you provide them any personal information to begin trading, you can limit your risk to that of the market itself (and this can be risky enough). There is no need to compound your risk exposure by failing to do your due diligence. Read in-depth reviews, and perform whatever research you are capable of before funding any online brokerage or subscribing to a signal service. Lastly, always remember that these services will profit whether you do or not – you alone are accountable for the results of your investments and quality of your research.