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TOP FOREX BROKERS REVIEW

THE INTERNET'S MOST COMPREHENSIVE LIST OF ONLINE FOREX BROKERS AND FOREX REVIEWS. 

The Most Important Things About Forex Signal Services You Should Know

If you are not experienced in the world of trading forex, there is an excellent chance that you may have thought about using the forex signal services to get some free forex signals. Hopefully, this would cut the time between your education and when you hit the markets.

If you are already in the market, but you have not had the chance to trade much, there is a good chance you may have encountered different forex signal services and all sorts of free fore signals that promise you significant and consistent returns.

When you are beginner, the biggest challenge is to learn how to trade. That is the reason why forex signal services exist. They are here to augment the way you trade. However, as you enjoy the paid or free forex signals, you should know few things.

Not all of them can be trusted. What do we mean by this? 

Scams Abound in the World of Forex Signal Services

When you hit the markets and start to interact with other traders, you will hear stories about people who paid a lot of money, only to end up losing it to scammers. There is not a single thing that happens in the forex market, scams do not increase that.

The free forex signals may hurt if you go ahead and decide to trust them without testing them. How would you avoid getting scammed when looking for a forex signal service?

Live Forex Signals

Open

buy GBP/USD
ID: 00168
View Full Analysis
Open: January 4, 2023
Take Profit: 1.2145
Stop Loss: 1.2055
Price
1.2085
buy EUR/USD
ID: 00167
View Full Analysis
Open: October 17, 2022
Take Profit: 0.9810
Stop Loss: 0.9720
Price
0.9750
sell GBP/USD
ID: 00166
View Full Analysis
Open: October 12, 2022
Take Profit: 0.950
Stop Loss: 1.1040
Price
1.1010
sell EUR/USD
ID: 00165
View Full Analysis
Open: October 11, 2022
Take Profit: 0.9630
Stop Loss: 0.9720
Price
0.9690
sell EUR/USD
ID: 00164
View Full Analysis
Open: October 10, 2022
Take Profit: 0.9665
Stop Loss: 0.9755
Price
0.9725
buy EUR/USD
ID: 00163
View Full Analysis
Open: October 6, 2022
Take Profit: 0.9980
Stop Loss: 0.9890
Price
0.9920
UPGRADE TO VIP PREMIUM SIGNALS

Closed

sell BNB/USDT
ID: 00014
View Full Analysis
Open: February 28, 2022
Close: March 01, 2022
Pips:
55.000
Price:
420.00
loss
buy CRV/USDT
ID: 00011
View Full Analysis
Open: February 28, 2022
Close: March 01, 2022
Pips:
0.3500
Price:
2.5000
win
buy MATIC/USDT
ID: 00010
View Full Analysis
Open: February 28, 2022
Close: March 01, 2022
Pips:
0.1500
Price:
1.6000
win
sell FTM/USDT
ID: 00009
View Full Analysis
Open: February 26, 2022
Close: February 28, 2022
Pips:
0.3000
Price:
1.5000
win
sell ATOM/USDT
ID: 00008
View Full Analysis
Open: February 26, 2022
Close: February 28, 2022
Pips:
3.7000
Price:
26.3000
win
sell UNFI/USDT
ID: 00007
View Full Analysis
Open: February 26, 2022
Close: February 28, 2022
Pips:
0.500
Price:
5.0000
win

Best Forex Brokers List 2023

RANK VISIT
BROKER
REGULATION

We only list licensed brokers that comply with the requirements of prominent regulatory agencies.

MIN
DEPOSIT

The minimum amount you need to deposit in order to start trading.

DEPOSIT
BONUS
RATING MAX
LEVERAGE

Leverage refers to the ratio of securities you can buy for a given payment. The higher the leverage ratio, the higher your buying power (and the higher the risk). For example, a leverage ratio of 500:1 means you can purchase 500 securities, but only pay the equivalent of 1 security valuation. The leverage ratio offered can vary depending on the experience level of the trader.

PAYMENT
SYSTEM
SUPPORT START
TRADING
1
ASIC, CySEC, FSP
$100
No Bonus
1:500

Telephone: +44 28 2544 7780

image
Pros
  • Excellent education tools
  • Low forex fees
  • Fast account opening
  • Easy funding methods
Cons
  • No bonuses
Platforms & Devices
2
ASIC, CySEC, FSA, SCB
$200
No Bonus
1:500

Telephone: +248 467 19 76

image
Pros
  • Low forex fees
  • Fast order execution
  • Analytical training materials
  • 90+ instruments
Cons
  • Slow live chat support
  • Non-EU traders don’t get investor protection
Platforms & Devices
3
FSA
$0
No Bonus
1:500

Telephone:

image
Pros
  • 9 base currencies
  • 24/7 technical service
  • Direct market access
  • VPS, FIX API, copy trading
  • Superior trading conditions
Cons
  • No negative balance protection
  • Withdrawal fees
Platforms & Devices
4
FCA, CySEC, FSCA, SCB
$100
No Bonus
1:100

Telephone: +44 (0) 203 151 5550

image
Pros
  • Excellent customer service
  • Free deposit and withdrawal
  • Negative balance protection
  • Wide range of platform
Cons
  • Inactivity fee
  • High Trading Fees for some CFDs
Platforms & Devices
5
ASIC, FCA, CySEC, SCB
$100
No Bonus
1:500

Telephone:

image
Pros
  • Fully digital account opening
  • Low forex fees
  • Research tools
  • Free Education Resources
Cons
  • No bonuses
Platforms & Devices
6
ASIC, CySEC
$1
100%
1:3000

Telephone: +35 7251 23212

image
Pros
  • No withdrawal fee
  • Low stock and stock index CFD fees
  • Negative balance protection
  • No inactivity fee
Cons
  • Average forex CFD fees
  • No PAMM accounts
Platforms & Devices
7
ASIC, CySEC, FSC
$5
Up to $5000
1:1000

Telephone: +501 223-6696

image
Pros
  • Low withdrawal fees
  • Great educational tools
  • Wide range of leverage
  • Multilingual customer support
Cons
  • Non-EU traders don’t get investor protection
  • Lack of weekend customer support
Platforms & Devices
8
FCA, DFSA, FSCA, FSA, CMA
$5
100%
1:1000

Telephone: +44-2030978571

image
Pros
  • Low spread
  • Controlled by several regulators
  • Numerous deposit and withdrawal
  • Favorable trading conditions
Cons
  • Few account currencies
  • Only USD or EUR as base currencies
Platforms & Devices
9
ASIC, FCA
$0
No Bonus
1:500

Telephone: +61 2 9965 5830

image
Pros
  • Automatic insurance coverage
  • Low entry threshold
  • Fully digital account opening
  • Low forex fees
Cons
  • Limited research tools
  • Only forex and CFD trading
Platforms & Devices
10
FCA, ASIC, DFSA
$200
No Bonus
1:500

Telephone: +1786 628 1209

image
Pros
  • Digital account opening process
  • Seamless deposit and withdrawal
  • Attractive trading conditions
  • No inactivity fee
Cons
  • No cent account
  • Few analytical materials
Platforms & Devices

Well, we will tell you:

1. Testing is Important

When you first sign up with a broker, they will offer you a demo account with access to real market data and virtual money. With these tools, you can combine the knowledge of others, in the form of free forex signals and your experience, to pick out trades and see how they work out.

If the consistency is lacking or the forex signal service is getting most of the trades wrong, then they are not for you.

2. Track Records Matter

Scams do not advertise track records; they make promises. It is not uncommon to look at these websites they create and see someone offering to clear 700 pips or so every month in terms of profit for you.

They draw a chart and tell you why they are the best forex signal service ever. Then, there isn't one when you look for a track record.

Always make sure that the people you want to pay have the goods that you need.

3. Never Pay Without Proof

As you look for a forex signal service, you should keep one thing in mind ‘all forex signal services are scams unless proven otherwise." This might seem like a very irrational reaction, but there's one thing you need to know.

Most of them are not as honest as you would like to think they are. Most of them are in it to make a quick buck from gullible seekers of free forex signals and then disappear.

Let’s Talk About The Groups of Trading Signals

When you look at the types of forex signals services provided in the market, you will find that they have some things in common. You will find that they all can be categorized into two distinct groups.

live forex signals,top 10 forex brokers,top 10 forex brokers in the world

That is what we are going to look at here:

1. The Fundamental Forex Signal Service

This is the first entry, and it refers to signals that are taken from keeping an eye on all the economic events and the market news. They all can influence the price movements of any instruments.

Let’s say there is an announcement about interest rates. A trader can use that information to know what to do next. The forex signal service that uses this kind of information gives you free forex signals based on something that anyone can observe.

Most fundamentalists will usually keep an eye on the news and the economic calendar, to be useful as a forex signal service. It is a simple process that even you can learn.

It is also why we encourage you to look for forex signal services that offer information as to why they give you a particular forex signal.

2. The Technical Forex Signal Service

As you may have learned from your forex education, where fundamentalists look at the news and the forex calendar to get signals, the technical folks like to look at the historical patterns and price movements, for repetitions or known patterns to manifest in a certain specific way.

By studying the past, the traders using this approach can know how the instruments might behave in the future. The traders then generate the forex signal service's product from keenly observing to these trends or tasking robots to give automated alerts about precise specific movements.

Most of the time, when a forex signal service is technical, they will most likely offer you a risk management strategy that is different from what you would get from a fundamentalist.

That highlights the disadvantage of using free forex signals. They never tell you how they got a particular signal. You will not know how to do risk management, and that is why you should always make plans to incorporate a forex signal service that you pay for but which gives you the best information.

What Makes Us Stand Out As a Forex Signal Service?

First of all, we are not a one-off website that has no history. We are linked to several other sites for reviews, education in the forex markets and other useful forex tools for crypto, commodities and other assets in the market.

Under the Web Magnate umbrella, we aim to provide everything, and that is why we have this forex signal service. But why choose us?

Well, we will tell you why:

  • We Give Free Forex Signals

Yes, we have a paid service, but we also have free forex signals that will offer you a chance to test us out before you get on a paid subscription. We know that as a trader who is just starting, the last thing you want it to be duped by a forex signal service that claims to be what it is not.

That is why we have the free forex signal provision to make sure that you can test them on a demo and see if they work and how many times they work.

  • Our Signals Come from Experts and Copy Trading Channels

We will talk about copy trading later, but for now, you should know that the forex signal service we have here, has its roots deep in the markets. It works in tandem with reputable forex players like MyFxBook to make sure that the information you get is actionable and guaranteed to be useful.

direct forex signals

The same experts who provide the signals we offer are also the ones who provide some of the best copy trading experiences in the forex world. In copy trading, just like with paid subscriptions to a forex signal service, you will find an explanation for every decision made.

You will know why the traders chose to enter a particular trade, at what time and the information which guided them in that direction.

  • Our Offers Are Realistic

We make no promises because we know just how volatile the market can be. We do not have specific numbers of how much profit you will turn when using this forex signal service. However, we can promise that our results are usually consistently, mostly winners and that with time, you will no longer need us.

We encourage the learning of new traders to ensure they develop their belief system.

The Process Of Developing Your Strategy Using Our Forex Signal Service

The question here should be 'what have you learned?' If you can answer that question, you are good to go. The answer better not be 'nothing.' Our efforts encourage you to know more about the market and how it works so that you have your signals and use them alongside ours.

It is true that using a forex signal service, is equal to abandoning your belief system in the market and adopting that of someone else.

We do not want you to rely on this forever. To make that easy for you, our paid subscription explains every trade and every free forex trading signal we give. It is about growing your skills as a trader. You will be a better trader for it.

In Conclusion

Do not rush into a forex signal service because their offer seems better than others. Choose a paid or forex signal service because they have proven that they have the goods. In that way, you will avoid losing money and learn something along the way.

It is how you will learn how to do the analysis yourself. With time, your signals will start to look more and more like what the experts give.

Top Rated Premium Forex Signals Services

Top Rated Premium Forex Signals Services

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