Forex Signals - Reviews of the Best Forex Signal Service Providers

Subscribing to forex trading signals is a great way to diversify your trading by mirroring the trades of traders with a good track record. When choosing a forex signal service it is very important to find a reliable provider that doesn't manipulate results and make false statements. In this section we list the best forex signal Services. Make sure to check back every so often as we frequently update these pages.

ZuluTrade has earned its position as the top forex signal provider by constantly working to establish a transparant platform for trade signal alerts. The company is a member of the NFA and works closely together with some of the best brokers to make sure that the track records are as close to a real account as possible. Among the trade signal providers that offer signals through the ZuleTrade platform you'll find everything from scalpers, to long-term trading fundamental analysts. Browse through the performance rankings at ZuleTrade and you'll see some tremendous returns both over short and long term. Visit ZuluTrade now and choose from the largest gallery of signal providers available online.

Forex Signals

A forex signal is a trade alert for the currency market. Forex signals can be obtained from companies that specialize in this service, and also from a number of brokers who provide them for traders of standard or V.I.P accounts. The price of this service can be anywhere from free if you receive it from your broker, to a daily average of $5-10 and higher depending on the individual or company providing it. There are also some packages that offer long term access for a one time subscription fee. In this case the floor is at around $100-150, reaching up to several hundreds.

Services that you receive upon signing up with a forex signals provider differ from firm to firm. You may expect to receive anything from performance trackers, sms, email, and online alerts, to customer support via email or phone, and advanced analysis in some of the more sophisticated offers. Since signals providers must protect their strategies, trading with them involves some degree of blind trust in the company or individual behind the issued signals.

The credibility of the many choices on the web varies widely, as it is often the case with anything related to the lucrative forex market. It is perhaps a good idea to approach any claims about 80-90 percent success rates with a pinch of salt, in spite of their ubiquity in the world of online trading. But there do exist some firms that provide genuinely valuable information and alerts to clients.

Keep in mind that your ability to successfully exploit received forex signals depends greatly on the efficiency of your broker's service. Especially with forex news based trading, you must act quickly, while being sure that any issues related to misquotes and slippage shall be minimal.

Forex Signals Can Be Classified Into Three Groups.

News Trading Signals: This is the fundamental approach to forex signals, and the purpose is getting at the news release as early as possible, and exploiting it to maximum profit in the short period of time after the release. Such signals often come with some commentary and analysis on weekly and daily bases, and require a fast connection to the web to be exploited in a timely manner. In some rare cases, such as the manufacturing PMI, there are ways of acquiring the headline number before the rest of the market, in such cases the information received may indeed provide exceptional value. In other situations, the forex alert service will try to pass the data release to its subscribers at much faster pace than TV presenters or public sources, creating opportunities.

Technical Signals: Technical trading signals are just trading tips on the basis of technical analysis. You trust the background and track record of the company or person issuing the signals, so you choose to trade on that basis instead of entering your own orders.

Technical forex signals are often issued along with various risk management strategies to ensure minimal losses if the plan does not work out as expected. The vast majority of online forex signals belong to this category, which makes sorting the wheat out from the chaff a bit of a difficulty.

General Trade signals: This kind of service provides general trading tips for traders. Their alerts often employ a multi-pronged approach combining both fundamental and technical analysis.

Final Word

Whether you will use forex signals or not will mostly depend on your character and your plan in trading. If you're a highly active individual with little time to spend on analysis and study of the market, forex signals constitute an alternative to manual trading. If you want to learn the mechanics of trading, you will receive but a modest benefit from subscribing to forex alerts. A major discouraging factor about forex signals is the high price tag.

Legal Notice:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.