If you want to find the best forex signals, you can always use key factors like cost, strategy, results, and frequency to help you.
When market volatility increases, more hopeful traders jump in to try their hand at forex trading. However, because most do not have the time to read or analyze the markets, they seek advice from services or professionals. This information is delivered in the form of forex signals or trading alerts.
To provide you with as much transparency as possible, we have gathered the top 3 forex signals free from around the world.
1. 1000pip Builder – Best MT4 Trading Signals
Climber System 1000pip 1000pip Builder is a fully automated forex signal service enabling you to trade passively. This is because the signals take the form of a forex EA (Expert Advisor). For those unfamiliar, Expert Advisors (EAs) are essentially trading robot files that can be installed and used with a third-party platform such as MT4.
This means that the 1000pip Builder signals will be traded on your behalf by your chosen MT4 broker. As a result, there is no need to evaluate each signal or go to your trading platform to place the recommended orders.
While this is highly convenient, it does imply that you must have complete faith in the 1000pip Builder. The robot may carry out anywhere from one to many actions depending on the signals. However, most users claim this is usually around ten daily trades. Even so, the 1000pip Builder typically zeroes in on the six most essential forex pairs and the three most crucial candlestick timeframes.
The latter includes pricing feeds for 15-minute, 1-hour, and 4-hour intervals. In terms of pricing, the 1000pip Builder is available for a one-time fee of $97. This means there are no ongoing fees after purchasing the signal robot. Although this will save you money, keep in mind that the team at 1000pip Builder may not be overly motivated to backtest the robot regularly because it does not collect monthly subscription fees.
2. Mega FX- A Complete Forex Trading Solution
MegaFX Signals is one of the market’s most popular forex signal providers due to its high accuracy and transparent team. This well-known signals provider is dedicated to simultaneously serving traders of forex, indices, commodities, and other markets. MegaFX Signals has over 100,000 clients worldwide.
After trying them out, we are pleased with the services provided by the MegaFX Signals VIP Telegram channel. We’ve made a profit despite our limited exposure time because it delivers on its promise of high precision. MegaFX Signals’ Telegram VIP Channel provides 5 to 6 forex signals per day. The company provides trading signals for entry, profit, and stop-loss information for optimal speed and efficiency.
We found that MegaFX Signals’ emphasis on training traders in risk management was one of its most distinguishing features. As a result, we believe MegaFX Signals is best suited for all types of forex traders, particularly beginners. Subscription fees range from $54 per month to $349 for lifetime service.
Furthermore, unlike many other signal providers on the market, MegaFX Signals has a free Telegram channel where anyone can test the accuracy of its signals. MegaFX Signals offers a top-tier Expert Advisor (MetaTrader EA) and Copier in addition to its signals service. The firm’s professional traders provide real-time trade projections and weekly trade analyses to their premium traders.
3. Direct Forex Signals – Known Forex Trading Signals via Telegram
Direct Forex Signals, headquartered in the United Kingdom, asserts it has provided forex signals for over a decade. All signals are sent in real-time via the Telegram group, which specializes solely in currency trading.
This signal provider makes a claim to have a win rate ranging from 89.54% to 93%. Direct Forex Signals offers several plans to choose from. The cheapest plan costs £30 per month and includes 1-5 signals per day.
One major drawback of this strategy is that it does not include recommended entry and exit points for take-profit and stop-loss orders. You need to choose the £55 plan, which gives you access to the platform for three months. The other option is the £85 plan, which gives you access to the signal service for six months.
Are forex signals reliable?
Forex signals can be an excellent informational resource when obtained from a trusted provider. It should be noted, however, that some unscrupulous and less reliable services are out there, so it is critical to exercise caution when using a forex signal provider.
The main drawback of trading signals is that the prediction is not always correct. This risk, however, can be reduced by taking precautions such as training and practice. CMC Markets clients can trade with £10,000 in virtual funds on our demo account without risking real money. Now is the time to sign up for a demo account.