A Comprehensive Guide on the Best Forex Signals Providers
Forex, or foreign exchange market, is the world’s largest financial market offering a plethora of benefits to traders. Major advantages are high liquidity, leverage, volatility, hedging, margin trading, and convenient market hours. However, to execute lucrative trades, one has to invest a lot of time analyzing the Forex markets. As the largest market in the world, its working hours differ as per the respective time zones. Hence, executing your trade ideas at the right time also matters.
A forex trader must constantly observe the currency market insights for movements of price, and apart from applying a much better trading strategy to start trading, they must always look out for viable market signals. It typically entails two types of analysis technical and fundamental. But it’s impossible to monitor the currency markets constantly, and here’s where forex signals come into the picture.
This guide compares the 10 best forex signals providers in the market based on reviews, ratings, fees, success rates, and more that can help you determine profitable trading opportunities.
Free & Paid Forex Signals Providers in the FX Market Right Now
- 1000pip Builder – 5-Star Rated Trusted Forex Signals Provider
- Learn 2 Trade – Real-time Accurate Signals With a 76% Success Rate
- DailyForex.com – Get Forex Signals by Well-known Forex Traders
- DDMarkets – Best Forex Signals Provider for Transparency
- ForexSignals.com – One Stop Shop for All Forex Signals Ideas and Education
- WOLFX Signals – Get the Most Reliable Signals for the Forex and Crypto Markets
- eToro – Forex Trading Signals From the Popular Traders
- Forex School Online – Ideal Forex Signal Analysis Hub for Novice Traders
- Zero to Hero – Premium Signals From Just $95 Per Month
- FOREX.com – Get Trade Ideas Driven by Statistics, Not Opinions
- MQL5 – Daily Forex Signals by Top Trades and Posts
List of 11 Best Forex Signals Providers 2023 (Free and Paid)
A Forex signal provider can help traders by providing forex signals. While this is true, no two forex signal providers are the same. One should consider certain factors when it comes to choosing one.
There are hundreds of providers and online trading platforms. The key lies in identifying and using forex trading services of the best forex signal providers to ensure you never miss a lucrative trading opportunity.
In this best forex signal provider list, we have compiled the best signal providers that offer both free and paid forex services.
1. 1000pip Builder
1000pip Builder, popularly referred to as pip Builder, differs from the other signal services: the site has an independently verified history by third party for delivering some of the best trading signals. In fact, even in some of the most complicated market conditions, the site has always met the trader expectations consistently as per their performance statistics. Some of the analysis hubs like MyFXBook, DailyTrading.com, among others, actively track 1000pip Builder’s trading signals.
Its major highlight is the one-on-one trading support provided by its lead trader, Bob James.
Bob James is renowned for identifying profitable real-time trading opportunities by utilizing his expertise in both fundamental and technical analysis; the site also offers an exclusive signal service by their lead trader, providing new and experienced traders to enhance their trading skills.
1000pip Builder focuses on maximizing returns by closely following the movements of price in the major financial markets. It is one of the reasons for the site’s very high level successful trading results.
Pros
- Successful trade ideas
- High success rates (even during the most challenging trading conditions)
- One-on-one mentoring with lead traders
Cons
- For certain locations, no real-time execution of trades is available
2. Learn 2 Trade
Learn 2 Trade is a United Kingdom-based trading platform predominantly used for trading Forex and cryptocurrencies. The trading platform is believed to be an optimal choice for both beginners and advanced or professional traders. Some of the other benefits of the Learn 2 Trade trading platform include 24/7 customer service and a simple and easy user interface. Unlike other FX signal providers, Learn 2 Trade provides trading signals that are derived using technical indicators only.
As one of the best forex signals providers, Learn 2 Trade also offers other benefits like chart analysis, market trends, among others. One of the salient features of this provider is that the site delivers trading signals via the Telegram application. Also, the Learn 2 Trade trading platform offers free service and paid forex signal services. The non-chargable forex signal service provides up to three forex signals per week.
Most often, forex signal service distributors offering free signals cover important aspects of the signals prompting users to subscribe for the premium forex signals. We found out this was not the case with Learn 2 Trade while researching for the best forex signals providers. In fact, unlike other trading platforms offering trading signals, Learn 2 Trade offers signals free, including stop loss, take profit, & entry price.
Learn 2 Trade also offers a free and paid forex signal facility starting at ₤35 per month. There are also different premium subscription plans for swing trading and fund trading for a subscription fee of ₤50 per month and a one-time fee of ₤450, respectively. Thus, one could say that Learn 2 Trade offers signals for those specifically interested in price swings trading.
Users can receive instant email notifications and sound for trade alerts whenever a forex signal opens, closes, or get updates; these are just some of the benefits offered to premium trading account holders. Premium trading account users receive around 3 to 5 signals per day for various asset classes like Forex, indices, commodities, and cryptocurrencies.
As per our findings, the trading signals provided by Learn 2 Trade have a win success rate of 82%, with monthly average gains at 30 to 40%. The overall win rate projected is 93%, and compared to other signal sources, it is a healthy average. Users can also save on the premium account membership fee by choosing a three-month or six-month subscription plan that costs ₤65 and ₤95, respectively. Many forex traders have found the site to be useful & have thus opted for the bi-annual plan to save on the monthly subscription fee.
Traders can also opt for a free service with a one-year subscription plan, where they receive forex signals for a complete year. To avail of this plan, users must register with any of the Learn 2 Trade recommendations brokers. The readers are advised to note that the users make the required deposit that applies to the said broker to activate the one-year free signal service.
Pros
- 24/7 customer support
- Three free forex signals/week
- Three to five trading signals/day with the premium plan
- 93% success rate and 82% win rate
- Real-time trading advantage
Cons
- Lack of trading training videos
3. DailyForex.com
DailyForex.com is a popular financial portal and comprehensive, authoritative site for information on trading platforms, and market analysis, among others. With a monthly traffic of over half a million visitors, DailyForex.com has transformed into a go-to site for anything concerning Forex.
DailyForex.com provides free signals for most of the paired currencies and some of the popular cryptocurrencies like bitcoins. As a matter of fact, every paired currency has a web page of its own.
On these web pages, traders can find complete information about trending profitable currencies. These predictions are based on the estimates of certain parameters, including the percentage of high risk evaluation, the optimum trading period for the currencies in question, forex signals, etc.
Every signal offered by the financial portal projects take profit and stop loss, entry, and exit levels, among others. The signals offered are a culmination of investment advice, technical analysis, and chargeable signals provided by the best forex signal providers.
Pros
- Reliable site for beginners and experienced traders
- Simple website
Cons
- No 24/7 customer support
4. DDMarkets
DDMarkets has been serving forex traders around the world since 2014, covering popular financial markets. The forex signals provider presents fundamental and technical strategies, initiating trades and notifying traders via email, providing future updates on the market and open trades. It offers medium, long-term, and swing trading strategies in the spectrum of financial markets, including forex, cryptocurrencies, and CFDs.
To help beginners start their trading journey, the platform has provided a dedicated educational section covering important topics related to forex trading, trading strategies, in-depth analysis, and other trading guides. DDMarkets traders can opt for Global Trade Alerts and IntraDay Strategies with a 14-day, 30-day, 90-day, or Economic plan, depending on their requirements.
However, Global Trade Alerts 14-day plan costs $59.90; Global Trade Alerts 30-day plan costs $77.40; Global Trade Alerts 90-day plan costs $220.60; Global Trade Alerts Economy plan costs $61.65; Intraday Strategies 14-day Plan costs $49.70; Intraday Strategies 30-day Plan costs $74.40; and Advanced Integration 30-day Plan costs $138.70/mo & 90-day plan costs $392.40. It also includes Custom Research and Crypto Signals 30-day plan, and they cost $49.70 & $71.50 for the same.
Additionally, DDMarkets presents strategies for every trade and allows seasoned, experienced traders to balance their risks in the global financial markets. It offers the best forex trade updates and alerts that are carefully selected using technical tools to filter false entries and signals that require big stops.
Most of the trades on DDMarkets are based on technical analysis. Various forex trading strategies are utilized to accommodate fluctuating market conditions. Paying for its forex trading signals requires the calculation of the amount of the approximate pips, which depends on the trade size.
Traders can fully customize their trade entries and determine the leverage and funds that they want to allocate for trade and enjoy full freedom to manage their trades based on their expertise. However, it strives for a 1:3 risk ratio (RR) in its trades.
Pros
- Provides real technical and fundamental analysis
- Established brand name with over 8 years of track record
- User-friendly and easy-to-use interface
- Suitable for professional traders
Cons
- Lacks a 24×7 live chat support
- It may be expensive for beginners
- It lacks free trials
5. ForexSignals.com
We have listed ForexSignals.com at the top of our list for many reasons. The primary reason is that it gives users access to mentors recognized as veteran traders in the trading pits. New and experienced traders can also interact with these trading mentors via the trading room.
Apart from providing forex signal service, it also provides live market updates, market analysis, charts, etc. In fact, traders can also have one-on-one private sessions with qualified mentors to further hone their trading skills. The site provides a trading performance report and signals in English and German only.
User Reviews
It also provides novice traders and beginners with some of the best educational training videos and workshops. The forex signals provided by this platform indicate when to buy or sell for more profits, and which currency pair to trade, among each other. You can apply for these trading signals entry limit order, exit limit order, and stop-loss at any trading system as they are provided in the simplest manner.
It determines trade entry and exit points, entry price, and stop loss limit with the help of some of the most advanced algorithms. They Offered some trading signals including Yen Men, Queenspan, BlocShock, CrossBoss, MboOst, and many more. The forex signal providers supported by the platform provide information on a myriad of currencies like EUR/USD, USD/JPY, GBP/USD, USD/CHF, Japanese yen: EUR/JPY, GBP/JPY, CHF/JPY, CAD/JPY, AUD/JPY, NZD/JPY, among others.
Readers are advised to note that not all the signal-providing sites on this platform provide information on all currency pairs. Thus, a trader has to choose the signal provider based on the type of currency pair they are interested in.
Based on the trader’s preference, they’ll be able to receive the trading signals either once or twice per day. The site follows London/Tokyo and New York trading hours, and they update the trading signals at least twice every 24 hours for most major currencies.
Compared to other forex signal providers, it has a low subscription fee of $97 per month. Users can also opt for a 7-day trial for a subscription price as low as $47.25/mo if billed for 12 months. The registration process is quite simple, with an easy-to-fill online application form. The site supports various payment methods like PayPal, debit or credit cards, etc.
It also provides free forex signals when you subscribe to one of the site’s promoted brokers, like GCI Financial and FOREX.ch, to name a few.
Pros
- Economically viable monthly subscription
- Start trading by accessing the trading room
- Easy to use and User-friendly interface. Also, it gets 5-star reviews on various review platforms
- Provides information on most of the currency pairs
- signal provider offers a 7-day trial period for only $47.25/mo
- Free signals for select subscriptions & a great way to start trading
Cons
- The fees could be lower
6. WOLFX Signals
Founded in 2021 and based in Spain, WOLFX Signals is a company launched by a team of qualified crypto experts specializing in providing crypto investors and forex traders with the most effective trading signals. Using these signals, these investors can readily make clued-up decisions regarding when to invest and how they can improve the odds of their profitability.
The guidance and assistance provided by the team members of WOLFX Signals have been extensively appreciated by thousands of its clients worldwide. They can win the trust and confidence of their increasing customers because they have a decade of experience in the crypto and forex markets. Despite unmatched standing and prominence in the market, WOLFX Signals does not rest on its laurels. It continues to offer better quality professional services using its comprehensive, rich expertise and experience in the two domains that can contribute to making you a clued-up investor.
By choosing WOLFX Signals, traders can get forex and crypto intraday signals, risk management strategies about them, and even more on the whole!
Pros
- Offers wide-ranging trading signals for crypto trading, forex trading, Telegram live trading, etc.
- Hassle-free and easy-to-use interface
- Flexible and affordable subscription plans conforming well to different budgets
- 24/7 customer support assigning a top priority to premium and VIP users
- Educational tools and other resources to nurture the trading skills of new traders
Cons
- Free plan has a few limited features
- No mobile app is available yet
7. eToro
eToro, one of the best UK forex brokers and a forex signals provider, is unlike any other signal service. And, this is because eToro broker is widely known for its copy trading and social trading features. Thus, rather than the trading signals, your profit level with eToro is influenced by your live trading strategy information. And, in this case, one’s trading strategy revolves around either copy trading or social trading.
Copy trading enables traders to imitate the trading strategies of another popular & professional trader who has succeeded in the past by checking their past performance report and whose strategies can be trusted to generate more profit potential. Also known as mirror trading and social trading, copy trading minimizes the high risk associated with FX and CFD trading; CopyTrader, CopyPortfolios, and Popular Investor are the three copy trading programs presently offered by eToro.
With eToro, trading results depend on the professional or popular investor you follow for copy trading or social trading. In other words, the trading results depend on the win rate of the trading strategy of the investor you copy. That said, as a signal provider, eToro enables traders to buy or sell trading signals from the popular traders featured on the site; one can also automatically copy the trading strategy of any successful trader.
Pros
- Enables copy trading
- Supports automated mirror trading
Cons
- Account verification process could be quicker
- Very high withdrawal fees
8. Forex School Online
Forex School Online, as the name suggests, is an ideal forex analysis hub for novice traders and to the traders in training. The site offers a plethora of trading resources like education, trading tools, price action guide, etc. With the rich collection of resources, including weekly and daily forex charts that are created from technical analysis techniques, one can certainly use forex platform as one of the best platforms for forex education.
The Price action guide featured on Forex School Online can be accessed for free by Telegram members. We thus recommend users to join the site’s telegram group.
At first glance, the site may seem to be intimidating with its lengthy technical lists of trading tools and resources. Nevertheless, the analysis hub offers 24/7 customer support to help traders navigate through their preferences.
As stated earlier, traders can find daily and weekly forex charts; using them can help traders determine the movements of currencies for trading. The site also features trading guides and tutorials where new traders can learn how to make the most of these charts.
The daily forex signals offered by the Forex School Online is derived solely from price action. Although the trading signals are complicated to read, one can easily determine the entry price, take profit margin, and stop-loss parameters after completing the easy trading tutorials on the website.
Forex School Online claims a win success rate of 81% with average monthly gains of 38%. Readers are advised to note that they can access the Price Action Guide for free when they join the free telegram group. Traders can also avail of free lifetime access to their trading signals and VIP group by simply registering and depositing their trading capital or minimum deposit with any of Forex School Online’s recommended forex brokers.
Pros
- Offers complete training in forex trading
- Free trading tools and calculators
- Free trading signals for VIP members
Cons
- Learning how to read forex chart patterns can be a steep learning curve
9. Zero to Hero
UK-based Zero to Hero is a trading signal provider. At present, the site offers only paid services. Zero to Hero provider that offers signals related to paired currencies and crosses. Some of the forex pairs supported include; EUR/USD, GBP/USD, USD/JPY, USD/CAD, USD/CHF, AUD/USD; and some of the cross currencies supported include; USD/JPY, EUR/JPY, etc.
The site charges a standard fee of $95 per month for signals. However, one can also opt for a 7-day free trial, after which the charges will be deducted for a monthly subscription.
One of the major differences from other signal suppliers is that Zero to Hero does not offer any trading education. That said, Zero to Hero is the perfect choice for professional and experienced traders; new traders can also benefit from the site as it provides at least ten signals from major markets every day & their trading results are independently verified by third party.
Account-holders receive signals via email and SMS; thus, enabling real-time profitable trading ideas.
How do the signals work?
Unlike other signal providers, the signals delivered by Zero to Hero are based on the trading results derived from the interactions between short-term momentum and support levels and longer term trading support and resistance levels. In fact, following the interplay between these key aspects is considered to be a successful trading strategy for executing profitable real-time trades.
Another salient feature of the Zero to Hero signals website is that traders can set a predefined stop-loss and take benefit. And, when the signal is in sync with these numbers, the trade is automatically executed. Their traders get a high resistance level of mentoring & support for trading.
Zero to Hero delivers signals during London and NY business and Asian business hours. Thus, one can use the signals anywhere in the world, which is not the case with other providers.
Pros
- Suitable trading signals to trade anywhere in the world
- 7-day free trial period
- Up to 10 signals/day
Cons
- Unverified historical trading performance
10. FOREX.com
FOREX.com is yet another service that is US-based. The site features some of the most advanced trading tools apart from signals with a high rate.
The trading signals delivered by FOREX.com offer entry, exit points along with Pivot Points. One of the advanced trading tools, Autochartist, constantly scans the financial markets to ensure all opportunities are conveyed to the trader. In fact, once the trader sets a predefined criterion, signals are triggered automatically.
A free Recognia technical analysis portal is yet another salient feature of FOREX.com platform. This feature enables the trader to plan their trades as per their trading strategy. The site also showcases short-term opportunities instead of the long term derived from trend lines, support and resistance levels, various indicators, and pivot points. FOREX.com, one of the best forex brokers Australia, also provides detailed charts for fundamentals that are usually preferred by experienced traders.
11. MQL5
MQL5 is ideal for traders using the MetaTrader4 and MetaTrader5 platforms. MQL5 features independent signal pages updated by much better signal providers. The site enables account holders to automatically copy the trading strategies of the providers.
The unique feature of the MQL5 signals tab is that anyone can post trading signals making it an unfiltered signals provider. Nevertheless, every trader’s ROI, along with the number of trades executed in the given time, is highlighted to overcome this problem.
All the trading results showcased on the MQL5 platform are verified, allowing the account holders to copy the trading strategy of any trader with the maximum ROI.
Most of the signals tab are provided for free. But for particular signals from select individuals, the account holders must pay a standard fee ranging from $29 to $50. Based on their reputation, some traders may also charge a fee of $500 for delivering the signals.
Pros
- Ideal for MetaTrader 4 and MetaTrader 5 platforms
- For copy trading, every account holder’s ROI is displayed
Cons
- Anyone can post the signals; no strict criteria for screening of signals
Forex Signals Providers Comparison
Forex Signal Providers | Fees | Trading Signals | Real-time alerts |
---|---|---|---|
1000pip Builder | $97/Month | Not disclosed | email, Telegram and SMS* |
Learn 2 Trade | £35/Month | 2-3 Trading Signals Sent Daily | VIP Telegram Group |
ForexSignals.com | $92.75/Month | Weekly Forex Signals Approx 5-25 | Inside of the Trading Room |
DailyForex.com | Freemium | Daily Forex Signals (Top Trades and Posts) | Web and mobile app |
DDMarkets | $77.40/30 days for Global Trade Alerts | Not disclosed | |
WOLFX Signals | $139/month | 1 to 4 analysis per day | Telegram Group |
eToro | Free | Daily Tips (Top Trades and Posts) | Copying live trading strategy |
Forex School Online | Freemium | Not disclosed | Telegram Group |
Zero to Hero | $95/Month | Daily Tips Approx 4-10 | Telegram, email and SMS* |
FOREX.com | Free | Not disclosed | Inside of the Trading Room |
MQL5 | $29-$50/month | Daily Forex Signals (Top Trades and Posts) | MQL5 signals tab |
What are Forex Signals?
Forex signals are mathematical calculations based on historical price action and volume used to predict future price movements. In short, they provide trade entry and exit signals. These signals predict a probable time and price level based on Artificial Intelligence & other algorithms, indicating when a human trader may enter or exit a trade to profit from the forecasted price movement.
Forex signals offer a thorough analysis of the forex market. Typically, they are provided by brokers, market analysts, professional traders, etc., via email alerts, SMS, desktop notifications, etc. New traders and professional traders who do not have the time to analyze the forex markets also utilize FX signals.
Professional and foreign exchange traders who have years of trading experience can take advantage of market indicators and price movements as they have both fundamental and technical analysis forex trading experience. The latter involves analyzing the price movement of currencies via charts; the former involves following news announcements and current events about the FX markets around the world.
How to Choose the Best Signals Providing Sites?
Trading results always depend on the trading decisions made by the trader. A trader must consider a lot of parameters to execute a trade or whenever they encounter some of the best trading opportunities. Most of these parameters revolve around closely watching the financial markets and also analyzing them. However, as it is a time-consuming process, many traders prefer to make use of a trade signals service. With many trading signal providers, quickly choosing a provider can be difficult. It is also a well-known fact that retail investor accounts losing money when trading CFDs and FX. So traders should do pros and cons trading analysis before proceeding.
While it is true that retail investor accounts lose money when trading CFDs and FX, there are equal chances to make money with the right opportunities to handle your money management. This is where a signal service comes into the picture.
Below are a few pointers that will help you determine the best signal service for profitable trading.
- Consider the signal service’s trading experience
A platform’s trading history & track record is very important to gauge the authenticity of the service provider. In fact, it is a testament to its trading results. There are many trading services that have been in the market for more than a decade. When you consider such providers, make sure to check the trading history & track record to understand past performance in terms of the success rates claimed by the sites. - Look for a free Forex signal
As stated earlier, there are sites that offer signals for free, while there are others that charge a certain fee. When you are not certain or are new to using the signals, use a free forex signal. And, once you are comfortable in executing successful trades, you can then switch to paid subscriptions. - Signals offered by trading platforms
There are certain trading systems that offer their own signals. Such platforms deliver a complete package, right from trading education to market analysis. We recommend new traders to open an account with such platforms to understand the ins and outs of trading CFDs and FX. If you want to explore more, browse our list of best forex brokers and get details on various platforms. - Understand the difference between automated Forex and signals
Most often, new traders often consider automated Forex to be the same as the automated execution of signals. It is very important to understand the difference between the two. Automated Forex executes a trade when it meets certain predefined criteria. It is not the case with signals. When signals are delivered to the trading accounts, the trading account user gets to decide if they want to execute the trade or not. Thus, we suggest new traders try the signals without fees to understand how they work and also test whether the said signals work or not with the help of a demo account before open an account. - Understand how the signals are created
Most of the services either use technical analysis, fundamental, or a combination of both for day trading or any other trading style. There are also services that go beyond these criteria, so make sure to opt for such providers. FX Leaders is one such example where the site uses both technical and fundamental analysis along with economic calendars, etc. FX Leader is run by Smart Financial Traffic LTD.
- Consider the timeframes
Every trader is different as they use different trading styles like day trading, position trading & more. When choosing a signal provider, it is important to consider the time frames in terms of the trading style. For instance, scalpers or scalp traders must consider signals with a short-term time frame. On the other hand, position traders must consider signals that have the potential for long term trading positions. - Reliability and reputation go hand in hand
Most of the fake sites often claim unrealistic success rates. Such sites never have a social media presence nor have user communities or forums. Determining the reputation of the service provider is very important. One can ensure the authenticity of the site with the help of the testimonials on the site. Also, reviewing them on the various social media platforms enables you to understand the experiences the other traders have had with them. And, when many traders are satisfied with their service, it is a direct testament to the site’s reliability. - Does the signal provider support your FX Broker
FX signal services force users to sign up with their recommended brokers. When you already have an FX broker you are comfortable with, make sure to opt for a signal service that supports your FX broker. While there are signal service sites that offer signals without any charges, they force the users to sign up with their preferred brokers. Moreover, such sites only offer signals when the user makes the required deposit after registration.
In this article, we have listed some of the reliable signal service providing websites and the tips to choose the ones that match your trading profile.
How do Forex Signal Providers Work?
Determining when to enter and exit positions a trade is crucial for lucrative forex trading. fundamental and Technical analysis of the markets suggests the probable entry and exit points where indicators act as a trading signal. Such analysis requires a lot of dedication and time, along with the knack to determine the right time zone to execute a trade. A Forex signal provider solves this dilemma by offering the best forex trading signals; they also guide you on when to open or close a trade on different signal status: Active, Get Ready & Closed.
There are different types of forex signals providers; they can be free service or paid so the first step for traders is to choose a platform. Some signals providers charge additional fees to provide signals for any rare currency pair. Most often, some of the best forex signal providers also share the charts they analyze to provide the trading signal.
Forex Signals Providers Vs. Expert Advisors
A Forex trading signal provider differs from expert advisors; they not only provide the trade’s entry and exit points but also suggest which paired currencies to trade for more profits. Expert Advisors (EA) are trading robots or, simply put, an algorithm or set of rules that automated trading when certain forex trading criteria are satisfied. An EA can be created using predetermined indicators like entry, price, stop losses, etc., that act as signals to automatically execute a trade.
Conclusion
With hundreds of FX signals providing websites and trading software out there, choosing the right one could be intimidating as most of are not provides independently verified records from a third party. However, when you set your priorities and preferences straight, the choice becomes easy. While it is important to understand the specific aspects provided by the providers, it is equally important to consider the cost involved and the number of signals delivered per month for the said fees. In this FX signals providers complete guide, we have listed some of the best forex signals service providers that suit the needs of a broad spectrum of forex investors and traders based on track record. In fact, the key to profitable trade opportunities is to find the best forex signal provider, which must ideally express when to buy or sell for lucrative trading results.