Forex Signals

Forex signals are best described as detailed trade recommendations or ideas. The sources of the best forex signals are usually experienced investors. Many online services and websites provide forex trading signals, for a fee, or even for free. But how can you find the best? Read on for a list of the top forex signals in 2022.

Brokers with Forex Signals

  1. Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.

    Instruments
    CFD, Forex, Stocks, Crypto, Futures, Options, Commodities
    Regulator
    CySEC, IIROC, NFA, CFTC, FCA, CIMA
    Platforms
    MT4
    Min. Deposit
    $100
    Min. Trade
    $1
    Leverage
    1:200
  2. NinjaTrader offer investors futures and forex trading. Use auto-trade algorithmic strategies and configure your own platform while trading with the lowest costs.

    Instruments
    Forex, Stocks, Crypto, Futures, Options, Commodities
    Regulator
    NFA, CFTC
    Platforms
    Own
    Min. Deposit
    $50
    Min. Trade
    Varies by asset
    Leverage
    -
  3. The leading US trading Exchange. Nadex offer genuine exchange trading to global clients on Binary Options. Fully regulated by the CFTC.

    Instruments
    Binary Options, Knock Outs™, Call Spreads
    Regulator
    CFTC
    Platforms
    Own
    Min. Deposit
    $250
    Min. Trade
    $1
    Leverage
    -
  4. Quotex offers a proprietary web platform that has digital options and trading signals.

    Instruments
    Digital Options
    Regulator
    -
    Platforms
    Own
    Min. Deposit
    $10
    Min. Trade
    $1
    Leverage
    -
  5. IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.

    Forex trading involves risk. Losses can exceed deposits

    Instruments
    Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting
    Regulator
    FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin
    Platforms
    MT4
    Min. Deposit
    £250
    Min. Trade
    0.1 lots
    Leverage
    1:30
  6. World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.

    Instruments
    Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
    Regulator
    SVGFSA
    Platforms
    MT4, MT5
    Min. Deposit
    $1
    Min. Trade
    0.01 Lots
    Leverage
    1:1000
  7. AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.

    Instruments
    Forex, CFDs, indices, cryptocurrencies, commodities and stocks
    Regulator
    HCMC (Greece), FSCA (South Africa)
    Platforms
    MT4, MT5
    Min. Deposit
    $10
    Min. Trade
    0.01 lots
    Leverage
    1:30 EU, 1:500 Global
  8. One of the largest discount brokers in the US, with a fixed trading commission and access to a large array of trading products and securities.

    Instruments
    Forex, Stocks, Crypto, Futures, Options, Commodities
    Regulator
    SEC, FINRA, CFTC
    Platforms
    Own
    Min. Deposit
    $0
    Min. Trade
    None
    Leverage
    -
  9. eToro is a multi-asset platform which offers both investing in stocks and cryptoassets. Crypto Trading is offered via eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply.79% of retail CFD accounts lose money.

    79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Instruments
    Crypto
    Regulator
    FCA, CySEC, ASIC, FSA
    Platforms
    Own
    Min. Deposit
    $10
    Min. Trade
    $10
    Leverage
    None

Introduction To Forex Signals

Because a forex signal is essentially a small bundle of text-based information, it can be transmitted through a variety of channels.

Forex signal providers deliver their recommendations through live messaging, email, Skype, YouTube, Twitter, Reddit, Instagram, Facebook, trading forums, dedicated apps or even on WhatsApp groups with a straightforward sign-up link. There are even forex signal Telegram groups.

The FX signal ecosystem has created fully-featured, dedicated trading environments as well. These signal-based investing solutions allow providers to use interactive charts, stream videos and monetize their activities.

Importantly, profitable trading is the Holy Grail of many investors and the most straightforward path to returns is arguably through forex signals.

If you are looking for a dedicated, specialist service, see our list of forex signal providers below.

Forex Signal Providers

1000PipBuilder offer forex signals via subscription. Independently verified results highlight potential, and ongoing support from experienced traders means there is more on offer than just signals..
1000PipClimber provide a 100% rule based Forex signal service. Entry, Stop Loss and Take Profit levels are calculated via an advanced algorithm. Comprehensive after sales support puts the service in front of most others.
Toggle AI provides actionable insights on 35,000 assets spanning multiple classes, industries and geographies.
Autochartist is a technical analysis tool that assists with trade set up and patterns, as well as providing signals, market reports and other useful features.
Access the Binary Destroyer 7.0 system and learn to develop some of the most powerful skills needed to succeed in trading.
TastyTrade is a free trading education platform with a fun approach to futures and options trading delivered in a range of useful approaches and formats.
ForexSignals.com go beyond offering raw signals. They also provide strategies, powerful tools and professional mentors. The educational element of the service sets it apart from pure signal providers.
CoinGecko is a crypto charting and data provider, with a wealth of useful tools, features, educational content and information on over 9,000 coins.
Chart Viper is a subscription service for the renowned Autochartist signals and analysis software, available for integration with MetaTrader and Thinkorswim trading platforms.
CoinMarketCap is a top cryptocurrency data and portfolio tracker, with information on over 11,000 cryptos and premium API services for strategy testing.
BKForex is a subscription-only trading academy, offering educational resources to traders looking to improve their game.
8topuz is a forex trading algorithm that uses deep neural network machine learning algorithms to execute large numbers of high-frequency trades automatically on the behalf of its users.
Start trading forex with financial backing. Get instant funding to trade forex using the capital at Forex Traders UK.
BuySide Global is a popular indicator service compatible with the NinjaTrader 8 platform. Clients can also purchase automated trading systems and membership to community chatrooms.
What2Trade is a free signals provider for forex, cryptocurrency, futures and US stock markets with daily published articles and a strong social media presence.
Trade Ideas is a sophisticated signals and stock scanner service for active day traders.
Forex Signal Factory offers free trading signals to investors looking to speculate on the FX market.

How Forex Signals Work

Forex signal systems are one the most important tools in the arsenals of many profitable traders. Beginners, as well as advanced and experienced investors, use them. In fact, there is an entire industry built around trading signals and investment recommendations.

Key Considerations

Quality forex signals do not just tell you when to jump into a certain trade and the direction of said trade. They also include detailed information on the configuration of your Stop Losses and Take Profits.

The best way to make certain that you are dealing with quality trading signals is to test them on a demo account. This way, you will not lose real money if it turns out your forex signals are subpar.

best forex trading indicators and charts

Time Frames

You should also pay attention to time frames. Due to their transmission nature, forex trading signals do not work well for strategies like scalping. By the time you receive the signal, the scalping opportunity has probably already come and gone. That said, there are scalpers out there who still use this type of service.

Every FX signal system is a reflection of the personal methods and preferences of the signal provider. Therefore, each system is different.

With that said, there are two key categories into which most forex trading signals fit:

  • Technical analysis (TA) based
  • Fundamental analysis-focused

TA-based forex signal systems derive their trade ideas from past price movements coupled with various mathematical formulas and trend recognition techniques.

Signal providers analyzing current events and deriving investment opportunities from the impact of these events are in the second category.

Finding The Best Forex Signals

The quality of your forex trading signals can make or break your profitability. Since there is not much skill involved in applying them, the only variable in the equation is the selection process.

Go through this checklist:

  • Time Zone – Before you start, take a look at the time zone of the provider. You want your forex trading signals to trickle in while you are awake.
  • Free Trial – Sign up for a free trial period. This will clue you in on the quality of the service, without requiring you to pay “tuition” in the form of losses incurred on bad signals.
  • Compare – Continue looking and comparing the FX signal services that suit your trading style and risk appetite. In the end, pick out the best one.
  • Track Record – Look at the track record of your provider. This should tell you everything you need to know about the setup performance-wise. Only track records verified by a 3rd party should be considered. Also look for the best forex signals reviews online.
  • Full Analysis – Go for the total package. Low-effort providers, such as those only giving you the entry price and the SL/TP, should be ignored. You need to know why it is supposed to work. To that end, you need your FX signal provider to provide supporting charts and market analysis.
  • Focus On You – Make sure the style of the forex signals fits your trading needs. There are short- and long-term signals focused on intraday breakouts and reversals etc. Profitability should always be your top priority, along with how the trade idea is delivered, be it via WhatsApp, social media, or email.
  • Extras – If possible, choose a provider that offers additional services. These can be educational or social trading-oriented. Provided you are dealing with quality trading signals, such perks can add a great deal of value to the setup.

Note, finding MT4 forex signals is a different story. In the Terminal window, select the Signals tab. This section features scores of forex signal providers with handy graphs of their trading performance.

Best forex signals on MetaTrader 4
MetaTrader 4 Forex Signals

Comparing Forex Signal Providers

Run a search on forex signal rankings. There are scores of websites out there comparing signal services. Pick a few off the top and read the reviews. Alternatively, see our detailed rankings.

Sign up for any trials they offer and use the checklist above to determine how well they stack up. Take into account the communication channels the providers use. Do they deliver their trade recommendations through Skype, email, SMS or Telegram? Do they use specialized platforms?

Forex Signal Providers

1000PipBuilder offer forex signals via subscription. Independently verified results highlight potential, and ongoing support from experienced traders means there is more on offer than just signals..
1000PipClimber provide a 100% rule based Forex signal service. Entry, Stop Loss and Take Profit levels are calculated via an advanced algorithm. Comprehensive after sales support puts the service in front of most others.
Toggle AI provides actionable insights on 35,000 assets spanning multiple classes, industries and geographies.
Autochartist is a technical analysis tool that assists with trade set up and patterns, as well as providing signals, market reports and other useful features.
Access the Binary Destroyer 7.0 system and learn to develop some of the most powerful skills needed to succeed in trading.
TastyTrade is a free trading education platform with a fun approach to futures and options trading delivered in a range of useful approaches and formats.
ForexSignals.com go beyond offering raw signals. They also provide strategies, powerful tools and professional mentors. The educational element of the service sets it apart from pure signal providers.
CoinGecko is a crypto charting and data provider, with a wealth of useful tools, features, educational content and information on over 9,000 coins.
Chart Viper is a subscription service for the renowned Autochartist signals and analysis software, available for integration with MetaTrader and Thinkorswim trading platforms.
CoinMarketCap is a top cryptocurrency data and portfolio tracker, with information on over 11,000 cryptos and premium API services for strategy testing.
BKForex is a subscription-only trading academy, offering educational resources to traders looking to improve their game.
8topuz is a forex trading algorithm that uses deep neural network machine learning algorithms to execute large numbers of high-frequency trades automatically on the behalf of its users.
Start trading forex with financial backing. Get instant funding to trade forex using the capital at Forex Traders UK.
BuySide Global is a popular indicator service compatible with the NinjaTrader 8 platform. Clients can also purchase automated trading systems and membership to community chatrooms.
What2Trade is a free signals provider for forex, cryptocurrency, futures and US stock markets with daily published articles and a strong social media presence.
Trade Ideas is a sophisticated signals and stock scanner service for active day traders.
Forex Signal Factory offers free trading signals to investors looking to speculate on the FX market.

How To Use Signals

Opening a position based on a forex trading signal is simple:

  1. Your first step is to log into the provider’s channel
  2. Grab the data delivered and copy it to your account
  3. Wait for the trade to close and pick up the proceeds

What Is Included In The Best Signals?

More precisely, a forex trading signal should tell you the following:

  • Comments, charts and explanations concerning the recommended trade setup.
  • The instrument/currency pair you will be trading (EUR/USD, BTC/USD etc).
  • The direction of your trade. Next to the actual asset price, a BUY or SELL action should be indicated.
  • The entry price is self-explanatory. It is the price level at which the provider recommends that you should jump into the trade.
  • The take profit (TP) is the price level at which your trade is automatically closed if it goes your way. Taking your profits at the right time is as important as protecting yourself through a stop loss.
  • The stop loss (SL) is where your position will automatically close if the market turns against you. This is a damage control feature and as such, it is important for long-term profitability.
  • The status: forex signals can be Active, Get Ready and Closed. Active signals can be put to use immediately as they are. Get Ready signals are not yet active, but they may become shortly. They may also disappear. Keep your eyes on them, but do not act unless they become Active. Closed signals are expired.

Trades can be closed in three different ways. Besides the automatic closure triggered by the SL or the TP, the provider can close it manually as well. In such cases, an explanation is provided in the comments section, together with the closing price.

Under certain circumstances, the signal provider may even recommend the extension of the TP, to increase the profit margin.

How To Use Different Types Of Forex Signals

To maximize the potential of your trading signals, you may want to tweak some of the variables.

Take Profit And Stop Loss

Moving your take profit is an obvious way to expand profit potential. Most services use a fixed pip amount when setting the take profit level as well as the stop loss. They rarely jump in to tweak these variables as the trade unfolds.

If you deem the potential of the trade better than what the profit level allows, you can move it. In some cases, completely removing the take profit may be justified. Just remember not to hold the signal service liable if your bold move backfires.

Moving your stop loss may in some cases save an otherwise doomed trade. Like the profits, the stop loss is normally set to a fixed pip limit. Furthermore, it sometimes lands just below a moving average or a resistance level. In such cases, moving it above the critical level may be a good idea.

The entry price is not set in stone either. In this instance too, many services prefer to err on the safe side. As the price evolves, a better entry price may develop as well.

Manually closing a trade may be the right course of action when the asset price is rattled by a sudden real-world event. There is no way for the forex signal provider to predict such events. If one does come about, the bets are obviously off.

Trade Size

Tinkering with the lot size is another signal-optimization avenue.

Some of the FX signals provided by a service will offer a higher probability of profits than others. As you rack up experience, you will be able to tell which investments are which.

Increasing your traded lot size on high probability signals makes good sense. The same is true for decreasing your traded amount on low probability signals.

Correlation

Keep an eye on correlated FX pairs. If you get a signal for the AUD/USD for instance, the same signal can probably be applied to the NZD/USD pair. Sometimes the trade “derived” through this method will turn out to be more profitable than the original recommendation suggested.

Investors sometimes forget to take the spread into account when setting their stop losses and take profits. Adjust your automatic closing points accordingly. Keep in mind that the spread is different from one FX pair to another.

Free Forex Signals

Signal service providers generally use free forex signals for promotional purposes. They will make them available while looking to sell some sort of service or product further down the line.

As a promotional vehicle, a free forex signal cannot afford to be of inferior quality. Sometimes, however, that is exactly what transpires.

Premium

A premium forex signal service needs to deliver from the very beginning. Since premium forex signals represent the bread and butter of the service provider’s offer, they are usually high quality.

Let’s not lose sight of the fact, however, that no forex signal provider can ever guarantee winners.

Live / Daily Signals

Live/ daily trading signals are in essence run-of-the-mill forex signals, which are delivered with higher frequency. Such signals are suitable for intra-day trading.

Notable Services

  • 1000PipBuilder.com – Rated 5 stars based on user feedback across multiple platforms. Regular trade advice and full, ratified results
  • Forexsignals.com – Live streaming and promo cash giveaways, forexsignals.com offers signals and education in equal measure

Copying Trades & Social Investing

Social trading or copy trading is about using the forex signals provided by successful investors. As mentioned, MT4 offers a Signals section, where it displays the trades and statistics of those who decide to share this information with the community.

The system rewards investors for their “signal-providing service” through fees paid by their subscribers. The Signals page displays the most successful forex signal providers at the top. This way, it more or less takes care of the selection process for users.

There are quite a few similar (and even better) trade copier services out there. eToro is a good example in this regard.

Forex signals and copy trading

Forex Signals For Technical Analysis Traders

TA is generally suitable for investing over the short-term across supply/demand inefficiency-induced price swings. Fundamentals, on the other hand, typically lend themselves to longer time-frame positions. The best forex signals often take fundamental factors into account as well.

Price Action

Forex signal providers churn out most of their hot tips based on price patterns, which mostly consist of support and resistance levels. Other technical indicators and price structures/patterns can be used as well. This is ultimately the very definition of TA-based forex signal generation.

Forex Signals For Scalping

While longer-term trading signals aim for hundreds and even thousands of pips in profits, some FX signal providers will settle for a few pips at a time. Short-term forex trading signals lend themselves well to scalping.

Note that despite their short-term nature, scalping signals are not based exclusively on technical analysis. They can incorporate a fair share of fundamentals too. This way, they combine indicators such as trend lines, support and resistance levels and stochastic oscillators with economic news, data releases and announcements.

Scams

The pseudo-science behind the forex signals industry is by no means an exact one. Therefore, it is conducive to scamming. Crooked operators have plenty of room to maneuver in this vertical. While we have already filtered out scam-suspicious services, you should be able to spot a forex signal scam yourself:

  • Services with unrealistically good (and unverified) track records are almost guaranteed to be scams
  • FX signal providers offering to trade in your stead, with your money, are most definitely scams as well. Such a setup is no longer signal-based trading, but auto-trading on a hijacked account
  • If a provider uses various pushy and underhanded promotional methods to sell forex signals for binary options, for example, it should arouse suspicion too

If you feel something does not add up about your forex signal provider, just forget about it and move on to the next one.

Bottom Line On Forex Signals

There are many forex trading signals available today. The best options will suit your financial goals, investing style and risk tolerance. Read online reviews and have a selection process in place before purchasing to ensure the service provider is of high quality. A good signal service can impact your profitability.

Use our list of the best specialist forex signals providers to get started. Alternatively, check out our ranking of online brokers that offer forex trading signals.

FAQ

Are Forex Signals Available Worldwide?

Yes, many services are available internationally in countries such as Canada, Australia, Malaysia, South Africa, and many others. The best forex signals in the world will be the ones that suit your goals and trading style, not to mention producing high profits.

What Is Forex Signal 30?

Forex Signal 30 Gold Edition is a no repaint service offering price movement indications for when an investor should open or close a position on an FX pair. It is a paid service, so make sure you read the reviews before purchasing. There are also other free forex signals for pairs like the EUR/USD.

Where Can I Find Live Forex Signals Without Registration?

Today, there are many free forex signals with no registration requirement. First check with your direct broker as such robots may already be part of your account as a factory setting. You can also look for honest reviews be it regionally specific, such as daily forex signals UK reviews, or international rankings.

Are There Apps For Free Forex Signals Online With Real-Time Data?

Yes, there are many iPhone, Android and APK forex signals apps available online. You can find them by doing a simple Google search. Before downloading an app, make sure you read the reviews to ensure you get the best quality possible.

Where Can I Find 100% Accurate Forex Signals?

It’s easy to get daily tips from social channels. Many claim 99.9% and higher success rates, but that’s not always the case. Social media sources may not always give the best winning forex signals. Instead, investors can seek pdf ebooks, courses (such as Vladimir Forex Signals), investment clubs (provided by a reputable company), subscriptions and software from established firms. Make sure you check the live reviews before making a purchase.

What Is The Forexsignals.com Trading Room About?

The website offers a selection of forex signals, educational videos, daily live streams, and promo codes as part of its trading room. They aim to educate investors on how to trade on the forex market.