In this article we will provide forex signals reviews of various signal providers. The goal is to find the top signals providers. We will examine the signals providers websites and try to determine the basis for the signals they provide along with pricing, number of pairs, and documentation. We will define what is a forex signal, and we will describe what types of forex signals providers are available to traders via web searches.
We conducted a review of forex signals providers websites with web searches, and discovered various free signals and paid signals along with a wide price range. We will also provide examples of some of the top signal providers and profitable real time signals that we found.
What Is A Forex Signals Provider
According to Wikipedia, a forex signal is a suggestion for entering a trade on a currency pair, usually at a specific price and time. The signal is generated either by a human analyst or an automated forex system or algorithm. Most signals are real time or live forex signals due to the timely nature of entering trades. We believe that this is a reasonably good definition of a forex trading signal. However, the quality or accuracy of the signals are not considered in the Wikipedia definition.
A signal should be an indication to trade from some type of human, automated or computer based system monitoring the market conditions. Human based systems are subject to human error, and nearly every one of these systems across the board is terribly flawed and unreliable. This is because the basis of most human based signals is technical analysis indicators, paired with scalping techniques.
Signals Versus Alerts
A forex signal is not an alert, these are two different things. An forex trade alert is simply a notification, like an SMS alert, email alert, economic news driver alert, website alert, audible alert, or visual alert, in real time if possible, due to the timely nature of signals. Alerts delivered to a mobile devices are widely touted by forex signals providers websites, but the signals themselves are of such poor quality that having a speedy method of delivery to a mobile device adds no value.
Where Can I Get Forex Signals
We would start by conducting web searches for “forex signals”, “forex signal providers”, etc. Then start evaluating the websites that appear on the first few pages of search results. Just remember that just because a website is near the top of search does not mean they are a top signal provider or they provide accurate signals or pips. Plan on sorting through lots of trash and terrible websites in searching for 1 or maybe 2 good signals providers. Based on our findings you may want to look way beyond the top three pages of search results hoping to get more and better choices of signals providers, because the top 3 pages of search results have such poor choices.
Are Forex Signals Reliable
If you find some forex signals you think you might like like, free or paid, you must demo trade the signals and review the outcome to make sure they produce pips into your demo account. The signals must also suit your personal taste, daily schedule, and produce pips and profits. Setting up a forex demo account and testing any forex signals provider is pretty easy. We believe it is imperative to demo trade and test the signals because so many of the signal providers we reviewed were very low quality, or had little or no documentation on their website.
If you make profits in your demo account with a signals system or provider, then you can move to live micro lot trading, then mini lots. Do not take unnecessary chances, always test the signal system before trading live funds. Then you will know if the signals are reliable and meet your needs to build a profitable account. Forex signals reviews can not be complete without demo trading each system provider.
Forex Signals Providers Available To Forex Traders
Based on google search results for “forex signals”, here is what we found: In the top 3 pages of search results, and top 30 search positions, there were only 4 were websites that actually provided signals. The rest of the search results were a combination of brokers ads saying “open an account here”, chat rooms for beginner traders, forex mentors, copy trading, mobile apps, articles about forex signals, computer generated content pages on free website builders, etc. So about 90% of the search content was of no value and provided no signals at all.
On the 4 websites that actually had signals: The prices ranged from $40 to $500 per month. The number of pairs they provided signals for was unclear, how signals were generated was not explained, and there were no examples of what signals look like. These websites were heavy on marketing, but with little content and no documentation of any kind as how signals were generated. Recommendation: On any paid signal services email them first ask a lot of questions before paying. Ask them how the signals are signals generated.
Some signals websites said that they provide entry price, stop loss, and take profit, but the take profit numbers were always very close, like 10-15 pips away, with multiple signals provided during the week on mainly 2 pairs, EUR/USD and GBP/USD. But that is all of the information that they provided. They are “black box” signals.
So when conducting forex signals reviews of what is available on the web, traders will be disappointed and should be a little scared by the poor quality and lack of choices on free or paid forex signals websites.
Outside of the search results, there are also thousands of Facebook pages, Facebook ads and Telegram ads that pretty much look like scams asking for money up front. Recommendation: completely avoid these.
Which Is The Best Forex Signal Provider
Forexearlywarning might be the best or one of the top forex signal providers. Forexearlywarning has a combination system of live forex signals and alerts, combined with written trading plans. Our signals and alerts are are likely the best in the forex industry and all of the problems we found with other signals and signal services websites we reviewed have been eliminated. We provide trend signals and live trade entry signals, which are both visual signals. Here is an example signal:
This is our live signals system, the Forex Heatmap® forex heatmap. This signal system provides easy to interpret, unambiguous real time signals that anyone can understand. The above live signal is for a buy on the CAD/JPY pair. This pair moved up 70 pips on this live buy signal. Other CAD pairs could have also be traded for more pips in just one trading session. This is what forex traders are looking for. Better signal systems and stronger movements.
Here are many more trade entry examples using this trading system across 28 pairs. These signals are easy to understand for all traders, even beginners. Along with the live signals we provide trading plans for 28 pairs, real time price alerts, and other professional forex alert systems like our mobile app. You will always know when the market is moving across 28 pairs with the Forexearlywarning trading system.
Since the trend signals are based on the larger time frames, our “take profit” areas might be hundreds of pips away form the entry price, not 15-20 pips away like the other signals providers we reviewed, as we discourage scalping and frequent trading. We believe this is the only trend based signal system available on the web. We trade less frequently and are looking for substantially more pips per trade. We also trade 28 pairs which is many more pairs than any forex signals providers we have seen on the web. Traders who use this system can set up our simple forex trend indicators on any charting platform, for market analysis.
We still strongly encourage demo trading our signal system, then graduating to micro lots, then mini lots. Our signals system is fully documented and the documentation is thorough and free on our website in the form of written and illustrated forex lessons. The Forexearlywarning website has no broker or IB sponsorship, and our website has no advertisements, nor do you have to open a brokerage account through us.
If you are conducting forex signals reviews you can start with the ttrading plans and live signals provided by Forexearlywarning. Then you can make comparisons of Forexearlywarning versus other forex signals providers based on website quality, clear signals, pricing and pip production. Forexearlywarning is a proven forex trading system. Watch our video guide of this article here:
Conclusions About Forex Signals Reviews and trying to find the top signal Providers: Trying to locate high quality, profitable forex signals providers is difficult via web searches, but not impossible. We conducted a forex signals providers review and searches on the web and found that most of the information about signals is not really about trading signals at all. If you find a signal system you like, email the signals provider and ask a lot of questions. Pricing is up to $500 per month. Get examples of the signals to make sure you do not waste time, or even worse lose money with live trades. Always test the signal providers with a forex demo trading account.
Forexearlywarning invites you to try our trend based trading plans, and signal system, we believe we are the one of the top signals providers, and our prices are also the lowest in the business. We invite traders to compare our trading system to other trading systems and signals providers you find on the web.