Forex traders decide whether to buy or sell a currency pair at a given time based on the forex signals. Basically, forex signals help traders to identify the right trading opportunities at the right time. According to Wikipedia, a forex signal is a suggestion for entering a trade on a currency pair, usually at a specific price and time. Most of the signals are based on the analysis of technical indicators. Forex signals are sent to a trader by service signal providers. Most of the time these signals are generated manually by a human forex analyst or artificially intelligent trading system. Below are 6 best forex signals providers you can use in 2020:
Our top pick: ETORO – Copy Trading
Maybe you have seen this ad before, “Trade like a steve”. It’s all about copy trading and even though this video is quite funny, it’s a great feature where you can follow verified top investors with great records and get buying signals from them or even just copy their trade automatically. Etoro also states that the top 50 most followed traders has a yearly average profit at 29.1%
Learn 2 trade
There are various Forex signal providers but Learn 2 Trade stands on top. There is a dedicated team that stands behind this provider that has done a great job scoring a 92% success record in giving accurate forex signals to traders. Another thing that makes Learn 2 Trade unique is that it has the ability to provide signals for cryptocurrencies along with forex transactions. Furthermore, this platform is great for beginners as it is so informative, with analysis and news on forex and cryptocurrency. Algorithmic trading in Learn 2 Trade comes with features such as chart analysis, market trends, 24/7 customer service, signal delivery through a telegram, etc.
Forex Signal Factory
Forex Signal Factory team has done a good job throughout the three years of operating. It is completely free and a great guide to assist with manual traders looking for quality entries. It is not easy to find a free good forex signal provider in this market with a lot of competition but Forex Signal Factory is one. Now they might not be the most reliable alerts but they are free.
Darwinex offers access to a wide variety of instruments. It is considered to be a safe forex signal provider. It operates from 2012 and it is based in the United States. It is very easy to access and it is funded in three different currencies – USD, EUR, GBP. It is characterized by great guides and excellent customer support. Furthermore, it provides free historical tick data, free demo, low interbank spreads, etc. The downside of Darwinex is that you have to use their in house broker in order to follow the signals.
A team of 15 traders has combined 98 years of their experience in the Forex Marketplace creating this forex signal platform. An interesting thing about Pips Alert is that they believe that charts and analyses are not necessary for their trading services. Trades can be accessed via the online dashboard platform. The downside of this platform is that the trading results they provide are not up to date. Therefore they need to do a better job when providing trading results and trading strategy information.
ForexSignals.com is one of the most reliable forex signals providers. It is beginner-friendly and it offers the opportunity to get familiar with advanced trading features such as copy trading or investing in highly successful traders. It operates since 2012. This forex signal provider claims that it belongs to the top 1% category of successfully forex traders. They are characterized by transparency and great customer service. Also, they give their clients access to live trading and discussions they do related to trades.
This platform is filled with a unique network of traders that are judged only by their performance. MQL5 allows anyone that has forex trading experience to provide signals. Also, it provides verified trading results and traders can filter through the potential signal providers based on their results alone. Therefore, if you have the trading experience you probably should go with this forex signal provider.