Forex signals offer trading tips that are derived from seasoned analysts or automated systems – such as AI software.
Members of a forex signals group will be told what currency pair to trade, and which entry and exit orders to set with their respective broker. In this guide, we compare the 12 best forex signals providers in the market based on past performance, reputation, fees, win rate, and more.
Choosing the best forex signals provider is no easy feat – so be sure to read our comprehensive reviews in the following sections. Selecting the right forex signals also requires a trusted and popular forex broker that supports the MetaTrader suite. Read our guide on the best MT4 brokers in 2023 to find out more.
Your capital is at risk. There is no guarantee that you will make money when using this signal provider.
Best Forex Signals Reviewed
While signals for forex can help inexperienced traders make smart investment decisions without putting any of the leg work in, finding a suitable provider can be challenging.
After all, there are lots of forex signal platforms in the market that make bold claims about huge historical win rates without being able to back anything up with verifiable data. Some forex traders also use the best forex trading apps to buy and sell currency pairs while on the move.
To help clear the mist, below we review and rank the overall best forex signals providers available in the market today.
1. Learn2Trade – Overall Best Forex Signals Provider Right Now
We found that Learn2Trade is the overall best forex signals provider to consider right now. The platform has been operational in this space for over a decade and – perhaps most importantly – it now has a community of more than 70,000 members. This is testimony to the level of trust that Learn2Trade has built in recent years.
Each and every forex signal that Learn2Trade distributes to its community comes with the required information. This includes the currency pair that should be traded – such as GBB/USD. It also consists of whether the trader should go long or short on the pair, and what the limit order should be placed at the respective forex broker.
Moreover, all Learn2Trade forex signals come with a stop-loss and take-profit order suggestion. These two orders are especially crucial, as it ensures that Learn2Trade members trade in a risk-averse way. We like that Learn2Trade offers two options for those seeking profitable forex signals.
First and foremost, Learn2Trade offers some of the best free forex signals in this space. Paired with the best automated forex trading software, such as copy trading, traders can eliminate emotions from their investing strategies. Not only do members of the free Telegram channel get three signals per week, but no information or data is blacked out. This is in contrast to other free signal providers, which often black out the stop-loss or limit order price unless the user pays.
Once new members have tested out the free forex signals group at Learn2Trade, they might then consider signing up for the premium channel. This comes with 4-5 forex signals each and every day. As such, those looking to actively day trade forex will have access to a sufficient number of investment opportunities.
In terms of pricing, Learn2Trade offers several packages. This includes a £40 plan for those wishing to pay on a month-by-month basis. Those paying £89 will get three months, which brings the monthly rate down to £30. The best value plan is charged at £215, which gets the user 12 months of premium signals – which translates to a monthly rate of just £18.
For all new customers signing up for a premium plan for the first time, Learn2Trade offers a 30-day moneyback guarantee. This ensures that users have enough time to test the platform out and to ensure that it is sufficient for their forex trading requirements.
As well as its large user base, Learn2Trade also boasts a 4-star rating on respected peer review website TrustPilot, with the majority of the reviews offering the service 5 stars.
For those that like to invest in cryptocurrency, we should also note that Learn2Trade offers digital asset signals. This is a separate plan to its forex service, albeit the same fundamentals apply. This means that users have access to both free and premium crypto signals. Finally, Learn2Trade also offers hundreds of free educational guides, alongside a fully-fledged forex course.
|Signals per day||4-5|
|Free signals||3 per week|
|Fees||£40 per month, cheaper plans for longer terms|
|Features||Free educational guides, great customer support, 30-day moneyback guarantee|
- Overall best forex signals provider
- 4-5 premium signals per day
- 1-3 free signals for forex per week
- 30-day moneyback guarantee
- Free educational guides
- Top-rated customer support
- Also offers forex swing trading signals
- No combined plan for forex and crypto signals
Your capital is at risk. There is no guarantee that you will make money when using this signal provider.
2. 1000pip Builder – Best For Accurate, Independently Verified Forex Signals
1000pip Builder has been one of the leading Forex signal providers for many years and has consistently impressed us with accurate Forex signals and first class support for members.
The most important benefit of 1,000pip Builder is that their impressive results have been independently verified by MYFXBook. This means you can can have confidence in the performance of the Forex signals. We have found the overall performance of this signal provider to be extremely strong, both in terms of overall results and consistency.
The Forex signals are generated by the highly experienced trader, Bob James. All Forex signals are based on the trades taken on his personal trading account so you can be sure that the utmost care is taken when entering trades.
Signals can be received through the Telegram app, e-mail or SMS text message. In our experience signals arrive quickly and reliably. The signals themselves are very easy to follow with all the key details that a trader needs; entry price, stop loss and take profit level.
Bob James is based in London but we have received signals throughout a 24 hour period. As we understand it, Bob sets alarms set at key price levels to alert him of opportunities throughout the day and night. Traders from anywhere in the world should be able to follow a good amount of signals during their time zone.
1000pip Builder is a specialist in Forex trading, primarily trading the major FX pairs and some minors. As impressive as 1000pip Builder is, one criticism would be that they do not trade indexes or commodities. Their Forex results have been very strong and expanding into these markets could boost profits further. We have mentioned this to Bob and it may be something that he adds in the future.
This brings us to the truly outstanding and unique feature of 1000pip Builder – the outstanding customer service. The team at 1000pip Builder genuinely want to help their members succeed and often go out of their way to help and support their members. Unlike almost all other Forex signals providers, you can also directly contact the lead Forex trader, Bob James, to ask any questions, get his insights into the market and understand the signals in more depth. This is a huge benefit to those traders that are serious about developing their own trading strategies and becoming an independent trader.
The combination of high-performance signals and excellent customer service has meant that members highly recommend 1000pip Builder. Expert and user reviews are overwhelming positive and 1000pip Builder has the highest rating of any Forex signal service on TrustPilot. Now is a particularly good time to join this service because they are offering a 74% discount in their flash sale.
|Signals per day||2-7 per day|
|Fees||$97 per month, $197 per 3 months, $297 per 12 months|
|Features||Independently verified performance, 1-1 expert support, highly recommended by members|
- Excellent reputation
- Outstanding long term performance
- Verified historical results
- 2-7 signals per day
- Unrivalled 1 to 1 customer support
- Highly recommended by members
- No Free signals
- No signals on indexes
3. Price Action Ltd – Real-Time Accurate Signals
PriceAction Ltd is a well-renowned forex signal provider in the market, having half a decade of serving traders’ experience, which we liked the most about them was their authenticity and accountability. They are providing more than just forex signals to the different ranges and types of traders; they are also educating the trade enthusiasts and building innovative tools to ease the traders’ journey in the long run.
Each week PriceAction Ltd shares a recap and annotates the stated trades, enlightening traders about the trading week. They have paid membership on monthly and lifetime purchasing plans on all of their forex services. The subscription fee for forex signals starts at $119/monthly and can go up to a $499/lifetime offer.
PriceAction Ltd. has one of the largest trading communities on their Telegram platform, which they use to send forex signals. If traders want to see the performance and test their signals’ accuracy, they can join their free Telegram channel. Along with Forex signals, PriceAction Ltd. sends signals to scalpers for different instruments like Indices, Commodities and others.
|Signals per day||3-5 Signals on VIP Channel|
|Free signals||1-3 Signals|
|Fees||$119/monthly, cheaper plans for longer terms|
|Features||Free Signals, 24/7 Customer Support, Trade Breakdown, Trading Tools and Educational Materials|
- Biggest Trading Community
- Free Forex Signals Daily
- 93% Accuracy rate on June 2022
- 24/7 customer support
- Signals are sent only on Telegram
4. MegaFX Signals – Serving Over 100,000 Traders
MegaFX Signals has gained massive popularity in the trading community for its high accuracy service and the accountable team behind the firm. After trying out its services for a few months, we are impressed with its signal services and fast support system. MegaFX Signals assists traders of all kinds and strategies while providing profitable signals every day.
Behind the firm is a team of professional traders and trading veterans who have been training traders and building revolutionary tools for over a decade. In the year 2020, MegaFX Signals started providing signals service and, since then, has served over 100,000+ traders worldwide.
For the consecutive months of 2022, MegaFX Signals has earned 88%+ accuracy in the sent signals. It uses Telegram to connect to its clients and provide signals. Moreover, to verify its accuracy, a trader can join the MegaFX Signals free Telegram channel where they send free signals daily. The subscription fees start at as little as $54 a month and go up to $349 for a lifetime offer.
MegaFX Signals has shined in one of their trading bots, the Mega EA automated trading bot, among the prominent ones. Along with this, they are serving indices, commodities, and other instruments’ traders.
|Signals per day||4-6 signals daily|
|Free signals||10 signals a week|
|Features||Trade Projection, Analysis, Weekly Tutorial Video on YouTube, Ebooks and Trading Tools|
- Founded by Professional traders and trade veterans,
- High accuracy; over 88%
- Free educational resources
- Fastest customer support
- Top-rated Trading Bot: Expert Advisors
- Uses only the Telegram platform
5. ForexSignals.com – Combine Forex Signals and Trading Education
ForexSignals.com is an established provider in this marketplace. It is largely designed for newbies that wish to trade the forex markets with little to no prior experience. We like that ForexSignals.com offers a huge selection of educational material, which is aimed at beginners that want to take their trading abilities to the next level.
In terms of the signals, ForexSignals.com offers a paid membership plan. Several packages are available – which includes As of writing, the platform claims to be offering a 50% promotion, which means that its monthly plan has been reduced from €104 down to €52. Those paying for the 12-month plan will pay €240, which brings the monthly rate down to €20.
There is also a free seven-day trial for those that wish to test ForexSignals.com out. All plans offer access to the trading room, alongside daily live analysis sessions, weekly hot-pick selections, and live interactive workshops. There is also a real-time global news team and access to pro trading tools.
|Signals per day||Varies depending on chosen trader|
|Fees||€104 per month, cheaper plans for longer terms|
|Features||50% promotion on plans, 24/7 customer support, 7-day free trial|
- Great reputation in the forex signals space
- Choose an individual forex trader to follow
- Live trading room
- 24/7 customer support
- No fixed number of forex signals
- No free forex signals
6. FX Premiere – Forex Signals Collated From 50 Providers
FX Premiere is different from other providers in this space, insofar as it does not generate forex signals itself. Instead, the provider collects forex signals from 50+ platforms operating in this space. This means that by joining FX Premiere, users will have access to dozens of forex signals throughout the week.
On the flip side, this can be somewhat confusing, not least because users will need to hand-pick which signals to follow. After all, not all of the providers that FX Premiere is partnered with will be profitable. Nonetheless, in terms of pricing, FX Premiere charges $37 per month.
Each signal comes with 1-3 price targets, which gives members the chance to set their own risk-reward ratios. Those looking to reduce their monthly fee might consider the 1-year plan at $199. This reduces the monthly fee by 35%. All signals are sent via the FX Premiere Telegram group, which continues to grow in numbers.
|Signals per day||2-15 per day|
|Free signals||1 per day|
|Fees||$37 per month, lower rates for longer terms|
|Features||Collects signals from 50+ providers, up to 15 signals per day, 3 take-profits per signal|
- Collects signals from 50+ providers
- Competitive fees at $37 per month
- Huge Telegram group
- Does not generate signals itself
- Very outdated website
7. Pips Alert – Long-Term Forex Signals With 14-Day Moneyback Guarantee
Pips Alert is a forex signals provider that offers two strategies for members to choose from. First, there is Venture X, which focuses on slow and steady long-term gains. This aims for between 1.5-3.5k pips in monthly profits. The second strategy – Investor X Signals, takes a short-term approach to forex trading.
Both plans offer members between 15-20 forex signals per week at a cost of $59.95 per month. What we like about Pips Alert is that it offers a 14-day moneyback guarantee. This should be enough time for new customers to assess whether or not the provider is right for their trading objectives.
Pips Alert also offers a free forex course that comes alongside 40 training videos. However, there are no free forex signals offered by this provider.
|Signals per day||15-20 per week|
|Fees||$59.95 per month|
|Features||2 core strategies, simple pricing plan, free forex course with 40 videos|
- Competitive fees at just $59.95 per month
- Free forex course
- 14-day moneyback guarantee
- 2 trading strategies to choose from
- No free forex signals offered
- No discount for longer plans
8. Forex GDP – Premium Signals From Just $20 Per Month
The next provider to consider from our list of the best forex signals providers is Forex GDP. This provider offers free forex signals with no financial commitment. With that said, the free plan comes with just 2-4 signals per month. Moreover, certain metrics are blacked out when receiving free signals – so this defeats the object as users will need to pay for the full suggestion.
Nonetheless, Forex GDP offers fully-fledged premium forex signals at competitive fees when signing up for a longer-term plan. For instance, a 1-year plan allows the user to pay just $20 per month for premium signals. This will get the user between 8-14 signals per month, which, again, is somewhat low when compared to other providers.
The supreme plan comes with more signals at 16-25 per month. This will, however, increase the 1-year plan to $37 per month. In addition to signals, the aforementioned plans come with trading ideas and the option to receive alerts via Telegram or WhatsApp. But what are the best WhatsApp trading signals in 2023? We should note that on the Forex GDP website, there are plenty of spelling mistakes.
This does make the provider appear somewhat unprofessional, so those looking to try Forex GDP should perhaps start with a 1-month flexible plan.
|Signals per day||8-14 per month on the premium plan|
|Free signals||2-4 signals per month|
|Fees||$20 per month when opting for a 1-year premium plan|
|Features||Free signals plan, trading ideas, receive signals via Telegram or WhatsApp|
- 1-year plans cost just $20 per month
- Elect to receive forex signals via WhatsApp or Telegram
- Free signals come with limited data
- Lots of spelling mistakes on the website
- Flexible plans are expensive
9. Daily Forex – Free Forex Signals Without Restrictions
Those in the market for the best free forex signals might want to explore the Daily Forex website. The provider posts several free forex signals throughout the day with a clear overview of all required information. For instance, Daily Forex offers a suggested limit order price, as well as stop-loss and take-profit levels.
We also like that Daily Forex offers an analysis of why the specific forex signal has been posted. The key issue with this provider is that it remains to be seen how accurate its signals are. After all, by largely specializing in free signals, there is no motivation for Daily Forex to spend sufficient time on its analysis processes.
|Signals per day||Not stated|
|Free signals||Every day, but no fixed amount|
|Fees||Free signals only|
|Features||Free signals without restrictions, full analysis covering each forecast, free education tools|
- Free forex signals throughout the day
- No restrictions on key signal suggestions
- Website is jam-packed with advertisements
- Success rate remains to be seen
- Very clunky and outdated website
10. Wolfx Signals – 3-5 Daily Signals Covering Asia, Europe, and US Time Zones
Wolfx Signals specializes in both crypto and forex trade signals. Members of this provider have access to 3-5 signals each and every day. All signals come with a limit and stop-loss price. With that said, members are offered three take-profit prices to ensure that all risk appetites are catered for.
Signals cover three regional time zones of Asia, Europe, and the US. The forex signal plan operates on a flexible month-by-month, which means that there is no long-term commitment from the member. This costs $89 per month. There is also a crypto futures and spot trading plan, both of which cost $89 too.
Those seeking to combine the futures and spot trading plans can do so at $139 per month. While Wolfx Signals claims a 90-95% success rate, this cannot be verified. All signals offered by this provider are sent via the Telegram channel.
|Signals per day||3-5 per day|
|Free signals||Yes, but the number of free signals is not stated|
|Fees||1-month plan costs $89|
|Features||Covers forex scalping signals, aims to cover time zones in Asia, Europe, and the US, 3 take-profits per signal|
- 3-5 forex signals per day
- Also offers signals for crypto futures and spot trading
- More expensive than other signal providers
- No information on its free signal plan
- Bold claims of 90-95% win rate without providing proof
11. Zero to Hero Signals – Up to 10 Daily Forex Signals From $95 per Month
Zero to Hero Signals offers up to 10 forex signals per day. This can be obtained at a fee of $95 per month. As such, this provider is suited for those that are happy to pay a higher price in return for a larger number of signals. With that said, Zero to Hero Signals does offer a more competitive price when signing up for a longer-term plan.
For example, the 12-month plan costs $395, which reduces the monthly rate by 65%. There are also 3, 6, and 9-month plans offered by the provider. In total, Zero to Hero Signals aims to target a monthly profit of 300 pips. This is a lot more conservative than other forex signal providers, which is perhaps a good thing for risk-averse investors.
|Signals per day||4-10 per day|
|Fees||1-month plan is $95, cheaper rates for longer plans|
|Features||Aims for 300 pips per month, up to 10 signals per day, cheaper rates for longer plans|
- Receive up to 10 forex signals per day
- Conservative target of 300 pips per month
- Does not offer free signals
- 1-month plans are expensive at $95
12. PipChasers – Premium Signals on 20 Forex and Metal Pairs
The final provider to consider from our list of the best forex signals provider is PipChasers. This platform offers access to 20 forex and metals pairs, which is great for those that are looking to trade both currencies and commodities. The provider has been in this industry for seven years and has a bold monthly profit target of 2,000 pips.
There are two plans to choose from at PipChasers. The flexible plan costs £79 per month and this can be cancelled at any time. Alternatively, the lifetime package offers unlimited access to PipsChasers at £390. Both options come with 5-9 signals per week and this covers both short and long-term strategies.
This means that while one signal might open and close on a same-day basis, the next might remain open for several weeks. PipChasers offers 24/7 customer support and all signals are sent via Telegram. Moreover, each signal comes with just one take-profit target, which will suit beginners.
|Signals per day||5-9 per week|
|Fees||1-month plan is £79, lifetime plan is £390|
|Features||Aims for 2,000 pips per month, combines forex and metal signals, just 1 take-profit target is suitable for newbies|
- Monthly target of 2,000 pips in net profit
- Signals cover 20 forex and metals pairs
- No free trial offered
- No crypto signals
- 12-month plans not supported
What are Forex Signals?
Forex signals are trading suggestions compiled by experienced analysts. In other cases, the provider might compile its signals via automated software that runs on AI. Either way, forex signals are sent to members with the view of suggesting which positions to enter.
- For example, the forex signal provider might suggest going short on EUR/USD because the pair appears to be overbought based on the technicals.
- Moreover, the provider might suggest entering the position with a limit order of 1.0560.
- The best forex signals providers in this space will also offer risk-management order suggestions.
- For instance, the aforementioned signal might suggest entering a stop-loss at 1.0600 and a take-profit at 1.0510.
Either way, the key objective when joining a forex signals platform is to be able to actively trade currencies without doing any research. This will suit both inexperienced investors with no knowledge of technical analysis as well as time-starved investors.
In most cases, the forex signal will be distributed to its member via a private Telegram channel. The only way to gain access to this channel is by paying a monthly subscription.
Once the signal arrives with all required data points, the member can then head over to the preferred trading platform to place the suggested orders.
How do Forex Signals Work?
Now that the basics have been covered, this section will explore how forex signals work in much more detail.
First and foremost, forex signals are sent by providers that are in the business of making money. In the vast majority of cases, the signals will be generated by experienced forex traders.
This means that behind the scenes, the traders will research the markets around the clock and look for trading opportunities that can be shared with members of the signals group.
In order to outperform the market on a consistent basis, the respective traders will need to have a firm grasp of how to perform high-level technical analysis. Otherwise, if the signals are not profitable, members will not renew their subscriptions.
Ultimately, this is why the best forex signals in the market require a monthly fee. Otherwise, there would be no motivation for the provider to employ full-time analysts on its books.
When a signal a sent by the provider, it will focus on a specific forex pair. For instance, the signal is based on the pair GBP/USD, this means that the member will be trading the future value of the British pound against the US dollar.
We found that the best forex signals providers in this space focus mainly on major and minor pairs. While exotic pairs perhaps offer higher upside potential, these currencies are a lot riskier due to enhanced volatility. This is great for FX investors looking for the best pairs to trade in forex.
Buy or Sell
Forex pairs change in value every second of the day. As such, the key objective when trading in this marketplace is to predict whether the price of the pair will rise or fall.
When receiving a forex signal, the provider will advise whether the trade should be entered with a buy or sell order.
A buy order indicates that the signals provider believes that the pair will increase in value. A sell order, on the other hand, means that the projection is that the pair will decline in value.
Limit Entry Price
The bulk majority of forex signals will come with a limit entry price. This specifies the exact price that the order should be placed. For instance, let’s suppose that at the time of the signal, GBP/USD is trading at 1.2290.
However. the signal provider might suggest a limit entry order of 1.3010. This means that the order will not be executed by the respective broker until a price of 1.3010 is matched by the markets.
The stop-loss price is a very crucial element of a forex signal. This is the price that the forex broker will close the trade automatically when it declines in value by a certain amount.
For instance, let’s say that the stop-loss price amounts to 1% and the signal is based on a buy order. This means that if the price of the forex pair drops by 1%, the trade will automatically be closed.
This ensured that losses – which all forex traders experience, are limited to sensible amounts.
The best forex signals will always come with a take-profit price. This is the price that the trade should be closed by the broker once the target is met. To make the most of this, choose a low spread forex broker.
In some cases, forex signals come with several take-profit suggestions. This allows the member to choose the profit that they wish to target.
Place Orders as Suggested
Once a forex signal is received – which should contain all of the suggested orders as discussed above, it is then just a case of entering the position at a preferred broker.
First, the user would need to search for the respective pair – e.g. GBP/USD. Then, the user would need to choose between a buy or sell order. Finally, the user would need to enter the suggestion limit, stop-loss, and take-profit prices – before confirming the order.
The forex broker will subsequently execute the position once the limit entry price has been triggered by the markets. Then, the trader will not need to do anything until either the stop-loss or take-profit order is met.
When this happens, the position will be closed automatically and the trade will either make or lose money.
How to Pick the Best Forex Signals for You
This guide has reviewed and ranked 12 of the best forex signals providers in the market today. However, this is just a small snippet of what is available elsewhere.
As a result, it is important for users to understand the core metrics to look for when selecting a suitable provider.
Reputation and Trust
Many forex signals providers make very bold claims when it comes to what they offer. This is often with respect to the win rate that they claim to have made since being in operation. Unfortunately, the claims made by forex signals sites are rarely honest.
Therefore, the first thing to explore when searching for the best forex signals is the reputation of the provider. A good starting point is to look at online review sites like TrustPilot or even forums like Reddit.
Learn2Trade, for example, has a four-star rating on TrustPilot, with the majority of the reviews offering five stars.
The main idea here is to gauge what the public opinion of the provider is from previous or current users.
Number of Signals
Users should check how many forex signals they will receive for the plan they sign up with. At Learn2Trade, for instance, the premium plan comes with 4-5 forex signals per day.
It is also important to explore what time zone the forex signals provider operates on. After all, if the user is based in the US but the provider runs on an Asian time zone, then this might mean that signals are sent during the night.
The best forex signals providers operate on a 24/7 basis to ensure that users from all over the world are catered for.
The win rate is a percentage that determines how many signals return a profit. For instance, if the win rate is 75%, this means that out of every 1,000 signals, 750 are successful.
While a high win rate is ideal, it is important to be able to verify this with tangible data.
While fees are important, it is better to pay a higher price for accurate forex signals than to seek a cheaper alternative that returns more losses than winners.
With that said, the provider should still offer value for money. The average fee in this space is $80-$100 per month for 3-5 daily signals.
Moneyback guarantees are essentially a free trial that allows members of a forex signal provider to test the platform out.
While the member will still need to pay the respective monthly fee, the moneyback guarantee allows the user to cancel the plan within a certain number of days. In doing so, a full refund will be made.
At Learn2Trade, the provider offers a 30-day moneyback guarantee for all new customers – no questions asked.
Free Forex Signals
Those looking for the best free forex signals should read the following sections before proceeding:
Free vs Paid Signals
Providers offering a forex signals service do so for the purpose of making money.
Otherwise, they would not be motivated to spend countless hours researching the currency markets for their members if there was no financial reward on offer.
With that said, the best providers in this space often offer a free service in addition to their premium packages.
Best Free Signals
At Learn2Trade, the platform offers three free forex signals via its Telegram group per week. The purpose of doing this is to allow new members to get a feel for how the service works before committing to a premium plan.
Crucially, unlike other providers, Learn2Trade does not black out key data with its free signals – such as the limit entry price.
Ultimately, those looking to make the most of a forex signal service will likely want to opt for a paid package. After all, this will offer access to all of the trading opportunities that the analysis team finds.
Best Forex Signals App
The forex trading markets can move at an extremely fast pace – especially if an important geopolitical or economic development breaks. Therefore, it is important to be able to act on a forex signal as soon as it is distributed by the provider.
This is why we like Learn2Trade, as the platform sends all of its signals via an instant Telegram notification. We explore why this is important in the following section.
Best Forex Signals Telegram Groups
To ensure that members never miss a trading opportunity, Learn2Trade has opted for Telegram. The platform has created a dedicated channel for both its free and premium forex signals, which are now used by tens of thousands of members.
As soon as one of the Learn2Trade analysts finds an opportunity in the market and distributes the respective signal, a notification will pop up on the member’s phone.
Moreover, users can set a custom notification so that they know the alert is associated with a new forex signal. We found that Learn2Trade is the best forex signals Telegram group, as it offers a full explanation of each signal that is sent.
For example, the analysts might explain that a key support line has been broken as per the RSI, or that increased volume indicates that a market correction is imminent.
Are Forex Trading Signals Profitable?
There is no simple answer to whether or not forex trading signals are profitable. After all, it all depends on the respective provider and the underlying analyst.
- For example, if using a top-rated provider that offers a solid win rate of 70% over the course of time, then this means that the signals are returning more winners than losers.
- In this scenario, the user would need to ensure that each and every signal is acted on, to stay in line with the win rate.
On the other hand, not all forex signals providers have a consistently good win rate. If the win rate is below 50%, then the user could lose money.
- Another thing to bear in mind is the risk-reward ratio used by the provider.
- For instance, if a standard ratio of 1:3 is utilized, this means that 1% is being risked to make 3% gains.
- Therefore, at least one signal out of every three needs to be successful to break even.
Just remember that when signing up for a forex signal provider, there is no guarantee that a profit will be made.
How to Use Forex Signals
Those wishing to get started with a forex signal service right now can follow the step-by-step guide below.
In doing so, we will explain how to get set up with the overall best forex signal provider in the market right now – Learn2Trade.
Step 1: Choose Learn2Trade Plan
First, visit the Learn2Trade website and decide which forex signals plan is of interest. If using Learn2Trade for the first time, we would suggest the 1-month plan.
The reason for this is that Learn2Trade offers a 30-day moneyback guarantee. Therefore, this will be enough time to try the signal service out before committing to a longer, more cost-effective plan.
As noted earlier, the 1-month premium forex signals plan at Learn2Trade costs £40.
Your capital is at risk. There is no guarantee that you will make money when using this signal provider.
Step 2: Open Account With Low-Cost Forex Broker
Those that already have an account with a preferred forex broker can skip this step.
If not, it is important to choose a broker that offers low trading fees, support for leverage, and plenty of forex pairs. Experienced traders who prefer to gain exposure to different currency pairs with leverage might find our guide on the best high leverage brokers a must-read.
Step 3: Join Learn2Trade Telegram Group
Next, join the Learn2Trade Telegram group for its premium signals. After paying for the monthly subscription in Step 1, details of how to join the group are explained via a confirmation email.
Tip: It is wise to set a custom sound alert for Learn2Trade notifications. This means that once a forex signal is posted to the Telegram group, users will know that it relates to a new trading opportunity.
Step 4: Place Signal Suggestions at Forex Broker
When the first forex signal is distributed to the Learn2Trade Telegram group, it will contain all of the order suggestions required to enter the position.
This includes the:
- Forex pair
- Buy or sell position
- Limit entry price
- Stop-loss price
- Take-profit price
As such, now it’s just a case of logging into the user’s brokerage account and placing the respective orders as suggested by Learn2Trade.
This will be repeated again when the next signal arrives.
In summary, choosing the best forex signals provider is no easy feat considering how many sharks operate in this space. The user will need to explore the provider’s reputation, historical win rate, monthly fee, supported pairs, number of daily signals, and more. Taking all of these crucial elements into account, we found that the overall best forex signal service in the market today is Learn2Trade.
This established provider offers 4-5 premium signals per day at a competitive fee of just £40 per month – with cheaper rates available on longer plans. Plus, there is a 30-day moneyback guarantee and even a free forex signal group for those that wish to try Learn2Trade out.