Best Forex Signal Providers for Forex Trading 2020

Are you looking for reliable Forex signals? Do you know how the Forex market works? Well, unless you are an experienced trader, then you might still not know everything there is to know about Forex. If that’s the case, then you might want to keep reading this article. 

If you are a young inexperienced Forex Trader, you may find it challenging to find the right Forex provider. We get it. Most of them look trustworthy, but are they indeed the right option? Can you trust their signals? Wouldn’t it be great if you knew which are the best Forex signal providers out there?

Our team has vast experience when it comes to trading. We have tested and tried many different signal providers over the years. Not only this, but we do know which signal providers have good intentions. 

The Best Forex Signal Providers 

Darwinex 

Established: 2012 

Regulated: Yes 

Maximum Leverage: 30:1

Minimum to Open Live: $500 

Deposit Methods: Bank Wire, VISA, MasterCard, Skrill, Trustly

Withdrawal Methods: Bank Wire, VISA, MasterCard, Skrill, Trustly

Darwinex is an online Forex Broker and investment manager which offers access to a wide variety of instruments. The company was established in 2012. Further, the head office of Darwinex is in the United Kingdom. Moreover, Darwinex is considered to be a safe broker for Forex and CFDs trading. 

The company is regulated in one tier-1 jurisdiction. Thus, Darwinex clients benefit from free supplementary insurance that covers FSCS-eligible clients for up to a total of £500,000 versus the standard protection of just £85,000.

Darwinex (Tradeslide Trading Tech Limited) is authorized and regulated by the Financial Conduct Authority (FCA), UK, firm reference: 586466.

Investors who use Darwinex have the opportunity to trade on the MetaTrader 5, MetaTrader 4, MT Mobile, and cTrader platforms. Also, signing up for Darwinex is easy. Once your account is opened, it can be funded in three different currencies – EUR, USD, and GBP. The minimum deposit requirement is 500 EUR/USD or GBP. Further, once you register, you can try the fully functioning demo. 

Advantages

• 1.5 USD per lot 
• Comprehensive guides and excellent support 
• Free demo available 
• FCA (UK) Regulated 
• Free historical tick data 
• Low interbank spreads 
• Mobile Apps 
• Over 300 instruments 
• Regulated by the Financial Conduct Authority 
• Scalping is available 
• Segregates client funds 
• Social Trading 
• Traders only compensate for success
• Ultra-fast execution

Disadvantages

• 20% performance fee on investor profits 
• Divergence/slippage can be significant
• Limited range of instruments 
• Not ASIC regulated 
• Open traders are not shared
• Slow response time from the support team

Forex Signals 

Established: 2012

Regulated: No 

Price: $97, $297 or $567 

Forex Signals was founded back in 2012 by Nick McDonald.  Since then, the company tries to help aspiring forex traders learn from experienced investors. Forex Signals’ goal is to show users how to trade, how to identify trends, and how to think like a professional trader. 

Moreover, the team of professional traders behind Forex Signals regularly publishes easy to interpret forex signals for young investors to follow. Further, with Forex Signals, there are live streams every day. Moreover, they stream live across every trading session, covering every technical and fundamental forex move in detail as it happens. 

Furthermore, Forex Signals offer hours of detailed trading lessons in the form of educational videos. Currently, there are around 100 instructional videos that teach various trading techniques.  However, these videos are only available to their Pro Trading Academy members. 

In addition, when you sign up, you can choose between two options – a monthly package and a discounted annual package. Here’s what both packages offer: 

On the question How many trading signals will I receive? This is the answer Forex Signals gives: Our mentors aim to deliver anywhere from 5-25 trading signals and market commentaries a week. 

Advantages

• Pro Trading Academy – hours of detailed trading lessons
• Access to profitable forex trading strategies 
• Easy-to-use interface
• Verified past trade statistics
• Daily live streams 
• $1,500 Giveaway at the end of each month 
• Clear entry and exit plans 
• Interactive forex trade ideas 
• Expert advisors (EA) for MetaTrader 4
• Exclusive indicators available only to members
• Scalping

Disadvantages: 

• Relatively expensive monthly fee 
• The trading courses are for novice or intermediate level traders

What Are the Advantages and Disadvantages of Using Forex Signal Providers?

Do you want to boost your earnings? Not only beginners but also experienced traders use forex signals. In fact, you don’t need any prior trading or market analysis experience. By using a forex signal provider, you ensure you won’t miss a trade, especially when it comes to automated signals. 

Also, you will stay updated about the forex market trends. Furthermore, using forex signals helps traders maintain an emotionally unbiased approach to the forex markets.

Nowadays, unfortunately, there are numerous scam signal providers. In fact, it is hard to tell of scams from reliable signal providers. Also, let’s not forget that both free and paid signals may lead to losses. As a matter of fact, not all signals are profitable or dependable. 

With this in mind, make sure you don’t follow the advice of other forex traders blindly. Further, you should always evaluate the situation. Another key point to successful trading and investing is doing your own research. To point out, you should read articles and books. Also, watch educational videos. Shortly, if you are a newbie, try to understand how the forex market works as quickly as possible. Otherwise, you might fall into the trap of scam forex signal providers.