Home Best Forex Signals 2021

Best Forex Signals 2021

The trading industry welcomes new traders who come with the prospect of making a considerable sum of money. However, due to insufficient knowledge, they end up losing most of their trades. Forex signals are trades provided by top investors who have shown consistency in the currency market for a substantial period. These traders occupy a significant portion of the copy trade sector which is also available for stocks and other instruments. By copying the positions of the top participants, novices can get easy profits in the initial stages.

bestforexsignals

How can you use forex signals

Signal services are handed out in different ways. The most popular ones are through social media platforms such as Telegram, Whatsapp, and Facebook. There is also an option to directly copy trades through a forex copier or use MQL5 copy trading services. Nowadays, almost every broker has a separate section where you can see the available top signal providers. 

Regarding risk management, a trader can use his settings for the lot size depending on the equity. The best in the industry always make sure of using a stop loss, so do not forget to copy the exit and entry points. 

Pros and cons of using forex signals

Copy-trading signals have the following benefits for traders:

  • The whole process can be set up and forgotten. It is perfect for you to set up a good passive income for yourself.
  • Beginners can trade demo accounts in the initial stages and follow trading signals simultaneously to satisfy their earning desire.
  • Some signal services are a great source of education for traders.
  • You don’t have to worry about analyzing the markets yourself.

While it may seem lucrative to copy and follow signals, there are some disadvantages that we must focus on:

  • Copying signals from one trading account to another may require some time. The latency can result in delayed copying.
  • The signals industry is full of scams. It is hard to find a reliable trader to follow these days.

How to avoid scam services

One of the recognized ways is asking for verified trading records through noted websites such as Myfxbook. By scanning the performance report, you can tell what sort of risk management is in place, absolute and maximal drawdowns, percentage gain per month, assets traded, equity curves, etc. If a signal provider fails to provide any of these, they are definitely a scam service.

How to choose the best forex signals provider

There should be a way to contact the lead trader to ask any questions about their trades. The best copy trading services utilize automatic means to mimic their positions on the receiver platforms as this reduces latency and removes the hassle of manually entering all the information. Investing, Bloomberg, Yahoo, and other financial websites may mention these signals in their reviews. Always take a look at the drawdown values and the duration for which the provider is in place.

Best Forex Signals Providers 2021

1. FXLeaders

fxleaders forex signals
FXLeaders Review

FXLeaders’ comprehensive website has various essential trading tools that include educational articles on forex and crypto, forecasts on commodities, crypto and forex, live rates, broker reviews, news on financial instruments, and trading signals. The live trades having correct entry/exit points and SL/TP are only available through the $39 monthly plan, or you can choose to pay $9.80 with the yearly plan. You can also get the premium services for free if you decide to open an account with the broker of your choice, i.e., AvaTrade. 

The added benefits of receiving alerts via SMS, email, and sound are at hand with the package. To maintain their quality status, FX leaders also have a comprehensive performance report.

Pros

  • Performance reports are available.
  • Trades have a proper stop loss/take profit.
  • You receive alerts on all important economic events and incoming trades.
  • Free premium services if you register with Avatrade.

Cons

  • All the services are limited to pro members.

2. Traders Academy Club

Traders Academy Club forex signals
Traders Academy Club Review

Traders Academy Club is an all-in-one service for those who like to receive live market analysis, trading education, a good community, and opportunities to get funded. Signing up with a yearly cost of $297 will also get you an easy-to-use dashboard service, online sessions from the mentor Vladimir and guest traders, daily reports, tools, ebooks, and 24/7 support. All the trading signals come alongside a chart and a reasonable explanation to help novices understand the expert’s idea. 

The signal service trades on instruments such as stocks, forex, and CFDs. Special strategy bonus known as Swing Point Trading SPT scans for the best momentum and trend in the market. 

Pros

  • Live analysis of trades.
  • Easy-to-use online dashboard.
  • Media Zone with Archives of Each Day’s Live Market Analysis Sessions
  • Support is available 24/7 to answer all your questions.

Cons

  • No automated way of copying signals. 
  • A yearly fee of $27  —  on the high end.

3. One Billion Signals

One Billion Signals
One Billion Signals Review

With an 83% success rate, One Billion Signals have a dedicated team of professionals and top traders that provide daily alerts. The 65 available instruments include forex, commodities, indices, and cryptos, are available where the provider aims to expand the list so that you don’t have to rush to other services. Instant notifications will keep you updated on all the incoming trades, market news, and technical analysis. Even if you miss out on them, the opportunity is still there to access by visiting the active signals tab. 

The signals are available for a free trial that lasts for ten days. Short reports conclude the market insights, and there is an option to track each signal’s success through the performance tab. 

Pros

  • No need to enter the trades manually.
  • Ten-day free trial to test out the service.
  • 83% average success rate.
  • Support for Android and iOS apps.

Cons

  • Most features are limited to a VIP package that costs $239 for a year.
  • Sign up page does not work. 

4. Learn to Trade

Learn to Trade forex signals
Learn to Trade Review

With a comprehensive online website covering everything from trading education, brokers, crypto, news, and forex, Learn to Trade is one of the authenticated services out there. Their signals can be followed via the Telegram channel, which is free to join. Experts in the field share their daily analysis and trading tips for helping beginners. Each day a trader receives 4 to 5 accurate trades with a proper stop loss and take profit. 

You can set up notifications to receive trade alerts while alongside other 15,000 fellow members. 

Pros

  • Real-time alerts via Telegram.
  • Tons of educational material on the website for quick learning.
  • You can use their funded accounts to follow the signals.

Cons

  • No performance tracking available for signals

5. Zero to Hero Forex Signals

Zero to Hero Forex Signals
Zero to Hero Forex Signals Review

The signal service boosts its verified records on FX Blue. Zero to Hero states that their trend matching strategy has stood the test of time by staying consistent and profitable over four years. After opting for basic membership that starts at $95 a month, the trades are sent out to your device through Telegram, SMS, and email. Bulk subscriptions up to a year will land you a discount of up to 65%. 

With 4 to 10 trades each day, zero to hero signals target a monthly gain of 300 pips. Their leading trader Bert claims to have ten years of experience in the market. He states to provide the opportunity to beginners to follow to see how a pro trader performs in the markets.

Pros

  • Comprehensive trading experience.
  • 20 % discount for all.

Cons

  • A peak drawdown of 29.3% with a monthly return of 9.7% is not favorable.
  • The records on FX blue are on the demo account.

6. Euro Scalper Pro

Euro Scalper Pro
Euro Scalper Pro Review

The signal service runs on the popular currency pair EUR/USD and utilizes short-term scalping. All the trades are copied through your account directly as soon as you sign up using the free (Octa FX) or paid ($197 monthly) methods. The EA that provides signals opens and closes new trades automatically, where you have the option to customize the lot size. You can check out the results on the website, which is in the form of a video.

The whole process is easy, requires no experience from your side, automated with no extra fees. Euro scalper pro has its Facebook and Twitter pages for more authenticity. 

Pros

  • You can contact them quickly via Facebook and Twitter.
  • Ability to monitor your account 24/7.

Cons

  • Trading results show each trade in green which is impossible as no one can achieve a 100% success rate.
  • Expensive at $197 a month.

7. FX Premiere

FX Premiere
FX Premiere Review

FX Premier does not boost their signals; instead, they source them from different providers on their Telegram channel, which facilitates 15,300 members. Their monthly package costs only $37, to begin with, and includes signals from over 50 sources. Each day consists of 2-15 trades coming alongside a proper stop loss and take profit.  Options are there to copy gold and crypto trades. 

A free trial will help you know if their signal service suits your strategy or not. You can save 25% or 35% by buying packages for four months and one year, respectively.

Pros

  • Good reviews on Trustpilot.
  • Customer support is available 24/7.
  • Proper stop losses to control risk on each signal.
  • Discounts for buying packages for a longer duration.

Cons

  • 1-3 targets per trade can cause a difference in the pip count and the overall outcome if you decide to cash in at TP 1 and the position hits the TP 3.

8. MQL5

MQL5 forex signals

MQL5 is one of the famous signal services by the developers of the industry-standard MetaTrader platform. You can scan tons of different traders through the website based on their output, drawdown, profitability, reviews, drawdown percentage, etc. The brokerage at which the person is trading and their equity and performance data are all compiled under a single page. Signals are available for both MetaTrader 4 and 5 and are copied automatically to the recipient’s portfolio. Minimum charges stand at $30 for the monthly subscription, going up to $1000 depending on the quality.

After buying signals, you have to login into the MQL account on your Metatrader, where you can activate your subscription. It is possible to tweak settings such as minimum deposit load and lot size for maintaining the risk.

Pros

  • A leader in the financial industry is responsible for maintaining signals.
  • You can see all the performance reports.
  • There is no way to manipulate pips and gains.
  • Filters to select the best signals.

Cons

  • Some signals are costly.

9. Foresignal.com

Foresignal.com forex signals

The free signal service provider has a simplified web interface that beginners can follow easily. To stay informed of all the latest incoming trades, you have to refresh their page or sign up for your email website. Otherwise, the monthly cost for receiving updates on your mail is $39. Foreesignal.com claims to average around 5,000 pips a month over the record of 10 months through their performance charts. There are nine different currency pairs, and you can choose to follow any, depending on your availability.

To overcome the difference in quotes from different brokers, the signal provider uses the average and maintains the last currency digits to four numbers. 

Pros

  • Nine different currency pairs. 
  • Simple website interface.
  • Binary signals and chart analysis being offered.

Cons

  • Pip manipulation is there in the results.
  • The signals are not free. You have to pay for a monthly subscription as constantly following their website is not favorable.

10. 1000pip Builder

1000pip Builder forex signals
1000pip Builder Review

At $97 a month, 1000pip Builder comes with a verified record on Myfxbook, has technical analysis, and full expert support. The company claims to have provided over 6,500 pips over 24 months. You can receive signals via email, Telegram, and SMS, after which you will have to enter them manually in your trading portfolio. They follow a risk-reward ratio of 1:1 to 1:4 and send out 2-7 trades each day.

They use three types of trading strategies, i.e., trend capture, range trap, and momentum rider. Ongoing sales are open throughout the year, which can land you on a discount.

Pros

  • Professional support.
  • Beginner-friendly interface to help novices.
  • Up to 65% discount on sales with their signals.

Cons

  • 1000pip Builder claims to have been featured on top financial websites; however, clicking on the link leads nowhere.
  • Demo account used to verify trading records.

Conclusion

There are tons of different signal providers in the industry that may mislead any beginner trader who steps in. As mentioned before, it is essential to choose the one which has a verified portfolio and history of consistency. Getting a service that copies signals directly to your account will remove latency and save you from the trouble of manually inputting them. Having a little trial can help in assessing suitable copy trading options. Always test out on a demo account before you proceed with the live one.