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What Is a Trading Signal?
A trading signal is the result of expert analysis performed by a professional trader or an automated trading system. Its purpose is to inform traders about potential arbitrage opportunities in the global financial markets. Signal providers analyze various technical indicators and market data derived from daily financial activity.
Trading signals can be manual or automated. Automated signals are often applied directly to a MetaTrader 4 account via copy-trading, while manual signals are delivered through SMS, email, Twitter, or other channels. Trading signals are usually offered through monthly subscription plans ranging from $30 to $300. Signals can be profitable if you choose your provider carefully. Keep in mind that no technical analysis system is perfect, and losses can occur. If available, use a trial subscription to test a provider under real conditions.
A trading signal provider should always deliver three key elements to subscribers:
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An entry time or price level
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A target price within a specified timeframe
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A stop-loss price to hedge against unfavorable market moves
Table: Compare Forex Trading Signal Providers
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SIGNAL PROVIDER |
FEATURES |
SIGNALS TYPE |
DELIVERY |
PRICING |
 |
■ 1000Pip Builder ■ All Trading Platforms ■ Easy-to-use Subscription Service ■ Daily Foreign Exchange trading signals |
1000pip Builder focuses on the major Forex pairs:
Additional signals on some crosses:
|
■ MANUAL TRADING ■ EMail and SMS trading alerts |
> 19-44 GBP (monthly)
|
|
|
■ FOREX TRENDY ■ All Trading Platforms ■ Easy-to-use Forex Scanner ■ 34 Forex Currencies ■ 9 Different TimeFrames
|
L Trend and Breakout Scanner / Daily Signals L Can Fit any Trading Platform
|
■ MANUAL TRADING ■ email, SMS, and Sound Alerts ■ Member's Area |
> 37 USD / Quarterly
|
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3 Major Categories of Forex Signals
Forex trading signals are alerts provided by expert advisors, recommending trades for subscribers who have purchased the service. Monthly fees for Forex signals typically range from $100 to $500, though some are available for free. 
These signals can be offered by individual companies or Forex brokers, often to traders with executive accounts. Delivery methods include email, SMS, phone calls, and online alerts.
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Technical Analysis Signals
This is the most common type of Forex signal, based on technical analysis using indicators, oscillators, chart patterns, and other tools that analyze past market data. Signals usually include stop-loss levels and trading strategies. Traders rely on the provider’s expertise and track record rather than placing orders themselves.
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Forex News Signals
These signals are based on fundamental news that has not yet been fully priced into the currency markets. Forex news signals often come with detailed analysis. Using these signals assumes the availability of a reliable Forex broker to avoid slippage.
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Combined Forex Signals
Combined signals integrate both technical and fundamental analysis, incorporating historical data along with current market news in one package.
Choosing the Right Forex Signal Provider
Choosing the right signal provider can be challenging. Keep the following in mind:
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Check the provider’s reputation online (blogs, forums, etc.) to avoid false signals and misleading claims. A trustworthy provider allows you to diversify your trading by mirroring trades from those with a solid track record.
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Review historical performance by examining past data.
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Verify if the signal provider is regulated or monitored by any authority.
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Ensure a trial period is offered so you can test the service at a low cost.
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Confirm that Forex signals are delivered in real-time.
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Make sure your Forex broker has the necessary technical capabilities, especially when using Forex news signals.
Compare Forex Trading Signal Providers
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