Top 5 FX signals that expert traders prefer in 2022
FX signal helps traders to determine the best opportunities to find the most profitable trades and execute them.
In order to ensure the effectiveness of your trading journey, the importance of forex signals cannot be overstated. An FX signal helps traders to determine the best opportunities to find the most profitable trades and execute them.
Irrespective of the experience of a trader, relying on the best forex signals is essential to enhance one’s trading journey.
Trading signals can also prove to be beneficial for novice traders since they can understand the reasoning behind a trade suggestion which may help in shortening their learning curve as well.
How do FX signals work?
Forex signals can be both manual and automated based on how they are generated. Automated FX signals use technical indicators in order to identify trade ideas with the help of mathematical formulas.
Manual FX signals use fundamental analysis to specify potential tradable opportunities.
The difference between these two types of forex signals is the usage of automation. Where automated signals, as the name suggests, use automation technology, signals generated manually require significant human intervention.
While there are several signals including RSI, MA, copy trading signals, and more, the effectiveness of a certain FX signal depends on the quality and competence of the signal provider.
Here are the top 5 FOREX signal providers in the market at present.
Learn2Trade is recognized for providing services including real-time market news, analysis, trade ideas, FX trading signals, and more. Traders also get access to insight into various financial instruments.
The platform comes with two different types of subscription plans: free and premium. Both the plans offer advanced technology backed by automation. That helps run technical analysis on both minor and major currencies.
The platform offers 3-5 verified signals per day with commendable usability. For beginners, this can be a great alternative, to begin with.
2. 1000pip builder
With a proven track record of offering high-quality and reliable FX signals, the 1000pip Builder is one of the leading FX signal providers present in the market currently.
The authenticity and competency of the platform can easily be verified by MyFXBook while being one of the highest-rated providers on TrustPilot as well.
The customer support is also worth mentioning with their one-to-one support service. Which is also highly celebrated by their loyal customer base.
The primary benefit of the platform lies in the performance that comes with the verified past data.
ForexSignals.com offers a trader community along with a great alternative to access high-quality FX signals. Apart from providing the FX signals, traders can also get access to live market updates, charts, market analysis, and more.
Not only this, but the platform also provides workshops and educational resources for beginners to hone their knowledge.
The platform has an easy-to-use interface along with free signals on selected subscriptions. This can be used for entry and exit limit orders as well as a stop-loss to maintain proper risk management.
One of the leading UK brokers, eToro has been there for years as a leading brokerage firm that also excels in providing quality FX signals.
The platform also specializes in providing a copy trading system that traders can take benefit from by imitating the winning trades of skilled traders.
Through copy trading, traders can get the opportunity to review the past experience reports of successful trades of seasoned traders that in the long term help them to minimize the risk associated with FX trading.
When it comes to opting for a low-cost FX signal provider, ForexGDP is one of the preferred options for many traders.
The platform comes with a free subscription that comes with 4 signals a month. In the paid subscription the signal frequency goes up to 8-14 per trading day.
With an approx 90% win rate, the FX signal service provider has more than 20 years of background that ensures its authenticity in the market.
While FX signals can be useful in identifying the best opportunities to trade. As a trader, you must keep in mind that FX trading comes with its own set of risks.
Make sure you invest an adequate amount of research and study before starting your career in forex.
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