10 Best Forex Signals Providers in 2024 – Get Free Forex Signals

If you’re looking to trade currency pairs without manually analyzing the markets; forex signals are for you. Put simply, forex signals are trading suggestions provided by human analysts or automated systems. In other words, you’ll be told exactly what currencies to buy or sell, and at what entry and exit prices.

In this guide, you’ll discover where to find the best forex signals for 2024. We rank the top 10 forex signal providers for win rates, past performance, fees, reputation, and other important metrics.

The Best Forex Signals Ranked List

We’ve tested dozens of providers and overall, the 10 best forex signals for 2024 are listed below:

  1. 1000pip Builder: This popular forex signal provider has been operating for over 10 years. It offers 1-5 premium signals per day and covers the European, US, and Asian trading sessions. It specializes in 15 currency pairs and targets monthly gains of 350 pips. Prices start at £44 each month, but this can be reduced to £19 on longer plans.
  2. Learn2Trade: This established forex signal provider has a win rate of 76% and premium members get five trading suggestions per day. Signals are sent in real-time via the Learn2Trade Telegram channel, which has over 40,000 members. Learn2Trade also offers free forex signals to those who want to try its service. That said, all premium plans come with a 30-day money-back guarantee.
  3. PriceAction Ltd: If you’re looking to trade the London or New York sessions, PriceAction Ltd could be right for you. It covers intraday and swing trading strategies and you’ll receive 3-8 premium signals per day. PriceAction Ltd claims to have an accuracy rate of over 90%. Monthly plans start from $119 per month, but discounts are available when paying quarterly.
  4. ForeSignal.com: This provider offers free forex signals on a daily basis. This covers plenty of pairs, including GBP/USD, USD/CHF, and EUR/USD. Its free signals come with the suggested limit, stop-loss, and take-profit prices. However, if you want to avoid a delay and receive signals in real-time via Telegram, you’ll need a premium plan. Prices start at just $29 per month.
  5. MQL5: MQL5 is the marketplace backed by the MetaTrader trading platform. It supports thousands of forex signal strategies, which you can then install into MT5. You can view lots of information about each signal provider, such as past performance, risk, and maximum drawdown. Prices vary depending on the provider, but average $30-$50 per month.
  6. Pips Alert: This forex signals provider aims for monthly gains of between 1,750 and 2,500 pips. While these are huge claims, Pips Alert offers a 30-day free trial, and no debit/credit card details are required. You’ll get between 3 and 7 forex signals every day. If you find its signals are profitable, plans start from $74.95 per month.
  7. Forex GDP: Forex GDP offers premium forex signals with an average win rate of 80-95%. Its free plan comes with 2-4 signals per month with basic entry and exit details. At $74 per month, its premium plan offers up to 14 signals per month. The supreme plan, at $147 per month, comes with up to 25 signals. This plan also comes with long-term trading suggestions and commodity signals.
  8. WOLFX Signals: WOLFX Signals is ideal if you want to combine forex and cryptocurrency signals under one plan. For this, you’ll pay $139 per month and receive up to four signals each day. That said, if you only want to receive forex signals, you’ll pay $89 per month. Both plans send signals on Telegram in real-time and cover the Asian, European, and US trading sessions.
  9. Signal Skyline: This signals provider specializes in multiple asset classes – including forex, commodities, indices, and stocks. There are many plans to choose from, which dictate what assets you can access. The standard plan is the most popular, which includes up to 20 daily signals for forex and commodities. This plan costs just $49 per month.
  10. AltSignals: AltSignals is an established signals provider that was launched in 2017. It offers daily forex signals with monthly targets of over 1,000 per month. Each signal comes with technical and fundamental analysis, allowing you to improve your trading knowledge. AltSignals also offers cryptocurrency futures signals.

Best Forex Signals Providers Reviewed

There are many considerations to make when choosing a forex signal provider. You’ll need to assess its win rate and past performance, not to mention its pricing system, signal frequency, and timeframe.

In our reviews below, we cover everything there is to know about the 10 best forex signals for 2024.

1. 1000pip Builder – 10+ Years in the Forex Signals Industry and Monthly Targets of 350 Pips

1000pip Builder is currently the top forex signal in the market. It is an established provider, operating for over 10 years. We like that 1000pip Builder offers signals across 15 different forex pairs. This covers a good combination of majors and minors. Moreover, 1000pip Builder ensures that even beginners can use its forex signals service.

This is because all signals come with the required limit, stop-loss, and take-profit prices. As such, there’s no guesswork when using 1000pip Builder.

When you sign up with 1000pip Builder, you’ll receive 1-5 signals per day. The platform notes that its signals are suitable for all time zones, as 1000pip Builder operates on a 24/5 basis. This covers the US, European, and Asian trading sessions. Signals are sent via Telegram and email.

1000pip Builder review

You can also receive signals via SMS for a small fee. In terms of performance, 1000pip Builder aims for monthly gains of 350 pips. As such, your personal gains or losses will be determined by how much you stake on each signal. Most importantly, 1000pip Builder has integrated its trading signals with MyFXBook. This means its trading results can be independently verified.

We also like that 1000pip Builder offers competitive prices. The flexible monthly plan – which can be canceled at any time, costs £44 per month. If you sign up for six months, the monthly cost will come down to $24.

Moreovere, the 12-month plan offers the best value. At £228, this will bring your monthly fees down to just £19. The main drawback of 1000pip Builder is that it doesn’t offer free forex signals.

No. Premium Signals No. Free Signals Prices Top Features
1-5/day Does not offer any free forex signals Flexible plans start from £44 per month. six and 12-month plans cost £144 and £228, respectively
  • Established for over 10 years
  • Monthly target of 350 pips
  • Covers 15 currency pairs
  • Signals sent via Telegram, email, or SMS

Pros pros

  • Established forex signals provider specializing in 15 currency pairs
  • Historical trading results can be viewed on MyFXBook
  • Aims for monthly gains of at least 350 pips
  • Operates 24/5 – so covers all major trading sessions

Cons cons

  • Does not offer any free forex signals

2. Learn2Trade – Emerging Forex Signal With A Trading Bot

We found that Learn2Trade offers an unrivaled trading robot called L2T Algo. This established provider has been operating for many years and has a historical win rate of 76%. So, for every 1,000 signals sent, Learn2Trade aims for 760 profitable trades. Learn2Trade is suitable for beginners and experienced traders alike, as it provides all trading order requirements.

For example, each signal displays the currency pair being traded, such as GBP/USD. It will also show whether the trade is a buy or sell, and what entry and exit prices to set. The latter includes a suggested stop-loss and take-profit order price. You can then place the suggested orders at your chosen forex broker. All signals are sent via the Learn2Trade Telegram group, which has over 40,000 members.

Learn2.trade review

However, Learn2Trade actually has a community of over 70,000 members in total. This includes members from its cryptocurrency signals and algo trading products – more on this shortly. By receiving forex signals via Telegram, you’ll be notified in real-time. Moreover, Telegram allows Learn2Trade to provide background data on each signal, such as what readings they’re based on. This allows you to understand Learn2Trade’s methodology.

Learn2Trade offers two different forex signal services. First, if you’re new to Learn2Trade, you might begin with its free forex signals. You’ll receive three signals per week on the free plan. Second, if you want the full Learn2Trade experience, you’ll need a premium plan. This will get you five forex signals per day. Learn2Trade is a global provider, so signals come through at various timeframes. This ensures that all regions are supported.

Learn2.trade review

Premium signals are priced depending on the length of the plan.  If you want to start with a flexible monthly plan, it’s just £40 per month. You can reduce this to £30 or £21 per month by paying for three or six months. All three plans come with a 30-day money-back guarantee for new customers. There’s also a lifetime plan at £399. Alternatively, you can get Learn2Trade premium signals for free when you sign up with one of its partnered brokers.

This includes some of the best forex brokers around, including  AvaTrade. In addition to forex, Learn2Trade also offers cryptocurrency signals. It covers the best cryptocurrencies to trade, such as Bitcoin, Ethereum, and XRP. Additionally, Learn2Trade recently launched a new product – L2T Algo.

Learn2.trade prices

In a nutshell, these are similar to cryptocurrency signals; but you can automate the trading process. So, as soon as a signal arrives via Telegram, the required entry and exit orders will be placed on your behalf. Irrespective of what signals package you sign up for, Learn2Trade offers top-rated customer support via live chat and email. Moreover, the Learn2Trade website is packed with free educational content, including trading and technical analysis guides.

No. Premium Signals No. Free Signals Prices Top Features
5/day 3/week Flexible plans start from £40 per month. Lower fees available on three and six-month plans
  • 76% win rate since inception
  • Community of over 70,000 members
  • Get 5 premium signals per day or 3 free signals per week
  • Signals include the pair, buy/sell, limit, stop-loss, and take-profit
  • 30-day money-back guarantee on all premium plans

Pros pros

  • Huge win rate of 76% since inception
  • Five premium signals are sent via Telegram every day
  • All required order prices are included – including limits, stop-losses, and take-profits
  • Prices start from just £40 per month

Cons cons

  • Customer support isn’t available 24/7

3. PriceAction Ltd – Forex Signal Accuracy Rate of Over 90%  

With over 700,000 members, PriceAction Ltd is also a popular forex signals provider. It claims to have a historical accuracy rate of over 90%, which is huge. Moreover, it offers 3-8 forex signals every day. This means that you’ll need to be active, as PriceAction Ltd signals need to be placed as soon as they’re received.

Like most signal providers, you’ll receive trading suggestions via Telegram. Each signal comes with a detailed explanation of the setup, plus the suggested entry, stop-loss, and take-profit prices. In some cases, PriceAction Ltd suggests trailing stop-losses to minimize risk and maximize profitable trades. That said, signals always come with a minimum risk-reward ratio of 1:2.

PriceAction Ltd

In terms of its strategy, PriceAction Ltd specializes in intraday and swing trading. As such, some trades are kept in place for minutes or hours, and others for days or weeks. PriceAction focuses on the London and New York trading sessions, so you’ll need to ensure you’re available during these hours. When it comes to pricing, you’ll have three plans to choose from.

Flexible monthly plans cost $119 per month. You can save 40% by signing up for three months, which costs $240. There’s also a lifetime plan at $499. However, you’d want to test PriceAction Ltd out before considering this option. PriceAction Ltd also has a separate Telegram channel that offers free forex signals. This currently has over 86,000 members.

No. Premium Signals No. Free Signals Prices Top Features
3-8/day Offers free forex signals but doesn’t state the frequency Flexible plans start from $119 per month. Three-month plans cost $240. A lifetime plan costs $499.
  • Accuracy rate of over 90%
  • 3-8 forex signals every day
  • Trades the London and New York trading sessions
  • Covers intraday and swing trading strategies

Pros pros

  • Best forex signals for trading the London and New York sessions
  • Get 3-8 premium signals per day
  • Its free Telegram signal channel has over 86,000 members
  • Signals cover intraday and swing trading strategies

Cons cons

  • Doesn’t cover the Asian trading session

4. ForeSignal.com – Daily Free Forex Signals Without Blacked-Out Metrics 

ForeSignal.com is one of the best options if you want free forex signals. The platform posts free signals for forex on its website every day. It covers a broad range of currency pairs, including GBP/USD, USD/CHF, and EUR/USD. Unlike other providers, its free signals do not come with blacked-out metrics – such as the suggested entry price.

On the contrary, you’ll receive the limit, stop-loss, and take-profit prices on all free signals. However, there is a catch; if you’re not signed up for the premium plan, there’s a delay on when you can view the signal information. Plus, you won’t receive a notification. To remove these limitations, the premium plan costs just $29 per month.

ForexSignal.com review

If you sign up for a three or six-month plan, you’ll pay just $59 and $89, respectively. Premium plans get instant notifications via the Telegram group. ForeSignal.com doesn’t have a set frequency for the number of signals it sends. That said, it published 21 signals in the prior 24 hours.

Of these 21 signals, 17 returned a profit. This included a 34 pip profit on EUR/JPY and 31 pips on EUR/USD. Over the course of August 2023, ForeSignal.com sent 3,683 signals. While in the previous month, 5,582 signals were sent.

No. Premium Signals No. Free Signals Prices Top Features
All signals are free No set frequency, but 3,683 signals in August 2023 To remove delays and receive instant Telegram notification, you’ll pay $29 per month. Three and six-month plans cost $59 and $89, respectively
  • All forex signals are free
  • Sends thousands of free signals every month
  • Does not black-out any data points like other free signal providers

Pros pros

  • Best free forex signals in the market
  • All data points are shown – including limit, stop-loss, and take-profit prices
  • Publishes thousands of free forex signals every month
  • Suitable for all global time zones

Cons cons

  • You’ll need a premium plan to avoid delays and receive signal notifications via Telegram

5. MQL5 – Forex Signal Marketplace Backed by MetaTrader 4 and 5

MQL5 is an online marketplace backed by MetaTrader 5 (MT5). This is a great option if you want access to thousands of signal providers and are happy to do your own research. For instance, when you click on a provider, you’ll be inundated with useful data. This includes the past performance of the signals and a breakdown of each individual trade.

You’ll also be able to view the maximum drawback, risk level, and a full description of how the signals work. This includes information on the underlying strategy and how it identifies suitable trading suggestions. Crucially, all of the data shown on MQL5 can be trusted. This is because the data is extracted directly from MT5. Therefore, it can’t be manipulated by the signal provider.

MLQ5 forex signals

Once you’ve purchased a signal strategy, you can upload it into the MT5 desktop software. You can then test it out in demo mode or activate it straight away. Either way, the signals will be traded automatically on your behalf. This means that you don’t need to manually place the suggested limit, stop-loss, or take-profit orders.

In terms of pricing, this varies depending on the signal provider. In most cases, you’ll pay between $30-$50 per month and you can cancel at any time. One of the best-performing signals on MQL5 is called ‘Supply and Demand’. It costs $30 per month and has made 1,093% since its inception in 2021.

If you like the sound of MQL5 signals, check out our guide on the best MT5 brokers for 2024.

No. Premium Signals No. Free Signals Prices Top Features
Depends on the purchased forex signal provider N/A Varies depending on the forex signal provider, but averages $30-$50 per month
  • Choose from thousands of forex signal providers
  • Transparent and real-time data on each signal, such as the past performance
  • Automatically trade each signal suggestion via MT5

Pros pros

  • Forex signals marketplace backed by MetaTrader
  • Thousands of signals to choose from
  • Average price of $30-$50 per month
  • Connect your signals to MT5 to automate the trading process

Cons cons

  • It can be time-consuming to manually evaluate each signal provider

6. Pips Alert – Monthly Target of 1,750-2,500 Pips and a 30-Day Free Trial

Pips Alert is a popular forex signals provider that also trades commodities. It has a huge monthly target of 1,750 to 2,500 pips each month. That said, it hasn’t connected its brokerage platform to MyFXBook, so its results cannot be verified. On the flip side, Pips Alert offers a 30-day free trial.

This should give you enough time to assess whether the signals are worth following long-term. Plus, you can test the signals out via a brokerage demo account. On average, Pips Alert sends out 3-7 signals every day. This comes with the suggested entry and exit order prices.

Pips Alert review

All forex and commodity signals are sent in real-time via the Pips Alert Telegram channel. In terms of premium prices, you’ll pay $74.95 per month. This is reduced to $58.28 and $49.95 on a six or 12-month plan, respectively. If you opt for the 30-day trial, no debit/credit card details are required.

No. Premium Signals No. Free Signals Prices Top Features
3-7/day Does not offer free signals. However, you can sign up for a 30-day free trial without any payment details Monthly plans cost $74.95. Six and 12-month plans reduce this to $58.28 and $49.95 per month, respectively
  • Claims to target up to 2,500 pips per month
  • 30-day free trial without payment details
  • Signals sent in real-time via Telegram

Pros pros

  • Get 3-7 live forex signals every day
  • Also covers commodity spot markets like gold
  • Access premium signals on a 30-day free trial
  • Targets 1,500 to 2,500 pips each month

Cons cons

  • Has not connected its brokerage account to MyFXBook
  • No information about historical returns or win rates

7. Forex GDP – Get up to 25 Monthly Signals With an Average Win Rate of 80-90%

Forex GDP is a forex signals provider that offers three plans. First, the free plan comes with 2-4 signals every month. However, this likely won’t be enough to test Forex GDP effectively. Second, the premium plan comes with up to 14 signals per month.

This costs $74 per month and comes with comprehensive setup instructions. This plan targets 300 to 700 pips per month. You’ll receive the signals via a private WhatsApp message in real-time. If you want the full 360-degree service, consider the supreme plan. While this costs $147 per month, you’ll get up to 25 monthly signals.

Forex GDP review

This plan comes with monthly targets of 700 to 1,500 pips per month. Moreover, the supreme plan also comes with long-term trading suggestions and commodity signals. Both the premium and supreme plans come with email customer support. The free plan doesn’t offer any support at all.

No. Premium Signals No. Free Signals Prices Top Features
Up to 25 signals per month, but depends on the plan 2-4/month Premium plan costs $74 per month. Supreme plan costs $147 per month. Discounts are available on three, six, and 12-month plans.
  • Get 2-4 free signals per month
  • Huge discounts when signing up for a longer premium plan
  • Targets up to 1,500 pips per month

Pros pros

  • Offers a free plan that comes with 2-4 signals per month
  • Get up to 25 signals per month with the supreme plan
  • Signals are sent via private WhatsApp messages
  • Targets up to 1,500 pips per month

Cons cons

  • Average win rate of 80-95% cannot be independently verified

8. WOLFX Signals – Combine Forex and Cryptocurrency Signals Under the Same Plan

WOLFX Signals specializes in the forex and cryptocurrency markets. So, if you’re interested in both asset classes, you can receive signals under the same plan. WOLFX Signals charges $139 per month, which includes 1-4 signals per day across both forex and cryptocurrencies. The latter covers some of the best altcoins, such as Ethereum and Chainlink. If you’re happy with the signals received, there’s also a lifetime plan for $399.

Alternatively, you can pay just $89 per month if you only want to receive forex signals. Either way, all signals are sent via the WOLFX Signals Telegram channel. This ensures that you receive the signals as soon as they’re posted. Moreover, WOLFX Signals covers the Asian, European, and US markets, so most time zones are supported.

WOLFX Signals reivew

If you want to test WOLFX Signals before paying for a monthly subscription, you can join its free Telegram group. This comes with two forex and cryptocurrency signals per week. Moreover, you’ll also receive updates on how the VIP groups are performing across both assets. WOLFX Signals’ free Telegram group has over 84,000 members, so it’s clearly popular.

No. Premium Signals No. Free Signals Prices Top Features
1-4/day 2/week $139 per month for the forex and cryptocurrency signals package. $89 for just forex or cryptocurrency signals. Discounts are available on lifetime plans.
  • Specializes in both forex and cryptocurrencies
  • Receive up to four signals per day

Pros pros

  • Receive signals for both forex and cryptocurrencies
  • Free plan offers two free signals every week
  • Free Telegram group has over 84,000 members
  • Huge discounts available on lifetime plans

Cons cons

  • Does not publish its historical returns

9. Signal Skyline – Up to 20 Daily Forex Signals – Plus Commodities, Indices, and Stocks

If you’re looking to trade a broad range of markets, Signal Skyline could be the best signal provider for you. Not only does it specialize in the forex market, but also commodities, indices, and stocks. However, the asset classes you have access to will depend on your chosen plan.

If you opt for the standard plan at $49 per month, you’ll receive up to 20 signals for forex and commodities. If you upgrade to the platinum plan, you’ll also receive scalping, intraday, and forex swing trading signals. This plan also covers commodities and costs $230 for a three-month plan.

Signal Skyline review

If you want the full package, then you’ll need the enterprise plan. This is expensive at $757 per month. however, you’ll also receive eight indices signals per day. Plus 10 daily stock market signals. Alternatively, you can start with the seven-day trial, which costs just $7. This comes with 6-8 daily forex signals and if you’re not satisfied, a 100% money-back guarantee.

No. Premium Signals No. Free Signals Prices Top Features
Up to 20/day Does not offer free signals, but the seven-day free trial offers 6-8 signals per day. The standard plan costs $49 per month, which comes with up to 20 forex and commodity signals per day. The platinum plan costs $230 for three months. The enterprise plan costs $757 per month.
  • Offers signals for multiple assets, including forex, indices, commodities, and stocks
  • Seven-day trial costs just $7

Pros pros

  • Receive signals across four asset classes – forex, indices, commodities, and stocks
  • The standard plan comes with up to 20 daily signals
  • Seven-day trial costs just $7 and is fully refundable
  • One of the best options for forex scalping signals

Cons cons

  • You’ll need to pay $757 per month for stock and indices signals

10. AltSignals – Established Forex Signals Provider Operating Since 2017

AltSignals is a forex signals provider that’s been in business since 2017. Its signals not only come with the suggested entry and stop-loss prices but multiple take-profits. This allows you to enter trades based on your own risk tolerance. Moreover, AltSignals suggests how much should be staked on each signal, in relation to your bankroll.

Every month, AltSignals aims to make at least 1,000 pips. That said, in August 2023, AltSignals fell short of its targets, making 810 pips. In the previous month. AltSignals generated gains of 2,321 pips. It charges $124 per month and there are no discounts for longer plans. What’s more, there are no free signals, nor any trial periods.

AltSignals review

In addition to forex, AltSignals also offers cryptocurrency signals. These specialize in Binance futures and will also cost you $124 per month. In August 2023, its Binance futures signals secured a win rate of 52%. This was across 31 signals. AltSignals sends the majority of its signals between 9 am and 5 pm (GMT).

No. Premium Signals No. Free Signals Prices Top Features
Not stated Does not offer free forex signals $124 per month
  • Established forex signals provider that was launched  in 2017
  • Also offers Bitcoin futures signals

Pros pros

  • Reputable forex signals provider that was launched in 2017
  • Aims to make at least 1,000 pips per month
  • Forex signals come with multiple take-profit suggestions
  • Offers monthly reports showcasing its results

Cons cons

  • Does not offer discounts for longer plans

What are Forex Signals?

Forex signals are trading suggestions that tell you exactly what positions to enter with your broker. You’ll be told what currency pair to trade and whether you should go long or short. You’ll also be told what entry, stop-loss, and take-profit orders to place.

For example:

  • Pair: GBP/USD
  • Trade: Buy
  • Limit: 1.2289
  • Stop-Loss: 1.2178
  • Take-Profit: 1.2356

Forex signals are a passive way of trading, as you aren’t required to perform any research. Instead, analysis is performed by your chosen forex signals provider. In most cases, signals are generated from a human trader. This means they’ll analyze the markets for you, usually via technical analysis. When they discover a potential trade, they’ll send out a signal. This will provide all of the information you need to profit from the trading suggestion.

That said, some forex signals are generated from automated systems. For example, the provider might have an algorithm that scans the markets around the clock. When it finds a potential opportunity, it will distribute the information to members. Either way, forex trade signals are ideal for beginners who don’t know how to perform technical analysis.

How do Forex Signals Work?

In this section, we’ll take a much closer look at how forex signals work.

Breaking Forex Signals Down

Let’s start with a real-world forex signal, before breaking each data point down.

  • Pair: AUD/USD
  • Trade: Sell
  • Limit: 0.6402
  • Stop-Loss: 0.6490
  • Take-Profit: 0.6301

The above signal tells us everything we need to know to place the suggested orders.

For example, the signal suggests placing a ‘Sell’ order on AUD/USD. This means that the signal provider believes that the Australian dollar will lose value against the US dollar. In other words, it believes the AUD/USD exchange rate will decline.

In addition, we’re told to place a limit order at 0.6402. This means that our position will not be executed by our broker unless AUD/USD hits this price.

To ensure we’re trading without taking too much risk, the signal also provides a stop-loss order suggestion. So, if AUD/USD increases to 0.6490, the stop-loss order will close the position. While it means we make a loss, our losses are capped.

The forex signal also suggests placing a take-profit order at 0.6301. If AUD/USD declines to this price, the trade will be closed automatically. And thus, our profits are locked in. Stop-loss and take-profit orders also ensure that we can trade passively. If we didn’t have these orders, we’d need to watch the markets and close positions manually.

What’s the Best Trading Platform for Forex Signals?

  • It’s important that you choose a suitable trading platform when using forex signals. After all, you won’t be able to act on the signals without a verified brokerage account.

How Forex Signals are Sent

The forex markets move at a rapid pace, so most signal providers use Telegram. This means that you’ll receive a real-time notification as soon as the signal is posted. You can place the suggested orders with your forex broker.

Telegram is also ideal for forex signals, as providers can post information related to the suggestion. For example, 1000pip Builder provides a full analysis of each signal. This explains why it believes the respective currency pair will rise or fall. This also allows you to improve your forex trading knowledge.

Some providers email their trading signals. This is less convenient when compared to Telegram, as you might not receive a notification in real-time. Moreover, you won’t be able to set a custom alert that’s unique to the signal provider. You also won’t be able to speak with other members of the signal group.

How to Pick the Best Forex Signals Providers for You

In this section, we cover the most important metrics to assess when choosing a forex signals provider.

Win Rate and Average Monthly Returns

The best forex signals have a proven track record of making consistent gains. After all, that’s why it charges fees for its services. There are two figures to look for when assessing past performance.

First, you’ll need to look at the win rate. This is the percentage of forex signals that return a profit.

Second, you should also look for the average monthly returns generated by the provider. This highlights the return on investment over a particular month. Some forex signal providers display this at a percentage. While others show their monthly gains in pips.

What are PIPs in Forex?

  • Forex traders often calculate their gains and losses in PIPs. This stands for percentage in points.
  • The reason for this is that forex exchange rates move in very small amounts – especially major currencies.
  • For example, suppose EUR/USD is priced at 1.0758. If EUR/USD moves to 1.0760, that’s an increase of 2 pips.

Regardless of how forex signals providers display their win rate and historical returns, it’s important that you can verify this. This is only possible if the provider has linked their trading account to a reputable platform like MyFXBook. In doing so, you can verify all of the trades that the signals provider has placed.

Unfortunately, most forex signal providers aren’t connected to MyFXBook. As such, you’ll need to trust that their stated returns are honest.

Free Trial or Money-Back Guarantee

As mentioned above, it’s difficult to know if a forex signals provider is truly profitable. That said, the best forex signals come with a free trial. Failing that, they’ll offer a money-back guarantee. Either way, this allows you to test its signals before committing to a paid plan.

The most effective way of doing this is through a forex demo account.

  • For example, you can open a free demo account with a broker, which comes with $100,000 in virtual funds.
  • When you receive a forex signal, you can then place the suggested orders risk-free.
  • Repeat this process for each signal – the longer the better.
  • After your testing phase is over, you can assess whether the forex signals are worth paying for.

Prices and Return-on-Investment

Forex signal providers charge for their services. You’ll usually need to pay a monthly subscription, which will vary from one provider to the next. Nonetheless, you need to ensure that the monthly fee offers a suitable return-on-investment. This will be determined by the win rate of the forex signals, plus the amount that you stake.

Learn2Trade review

In other words, you’ll need to make enough money to cover the cost of the subscription.

That said, just remember that past performance does not guarantee future results. Plus, you’ll need to ensure you’re using a low-cost broker. Otherwise, your signal profits will be eaten away by trading fees.

How Much Should I Risk on Each Forex Signal?

  • The rule of thumb when trading forex is to never risk more than 1% of your bankroll on a single trade. This is known as bankroll management.
  • For example, suppose you have $1,000 in your forex broker account. When you receive a signal, you should risk no more than 1%, or $10.
  • As you build your bankroll, your stakes will increase. For instance, suppose you’ve built your bankroll to $1,500. Based on the 1% rule, you can now stake $15 per trade.

Analysis and Education 

We found that the best forex signals come with a full analysis. For example, 1000pip Builder explains why the signal is being sent. This might be because a key support line is about to be broken or there’s a strong reading on the indicator.

Either way, this helps you understand the reasoning behind the signal, rather than just placing the orders blindly. This also allows you to improve your forex trading knowledge.

Signal Frequency   

You also check how frequently the provider sends out signals. If you receive too many signals throughout the day, you might find it challenging to keep up. After all, you’ll need to manually place each order that the signals suggest.

Conversely, if you don’t receive enough signals, you might not be getting value for money.

At both 1000pip Builder and Learn2Trade, you’ll receive up to five signals per day. This is a manageable amount for most traders and makes the monthly subscription worthwhile.

Time Zones  

It’s crucial you know what time zones the forex signal provider covers.

For example, if you’re based in the US but the signals cover the Asian trading session, this likely won’t be suitable. After all, the signals will arrive during the night.

Customer Service 

It’s important you have access to customer support when paying for forex signals.

For example, you might notice that there’s an error with one of the suggested order prices. In this instance, you’ll want to speak with a support agent as quickly as possible. This will ensure that you place the correct order and that you don’t miss the trading opportunity.

Learn2Trade review

The best forex signal providers offer live chat support. This is usually on their website. Alternatively, support might be offered via the provider’s Telegram channel. Both options are acceptable. However, if support is offered via email only, you likely won’t receive a speedy response.

Free Forex Signals

Read on to learn more about free forex signals and whether or not they’re worth following.

Free vs Paid Signals

In most cases, free forex signals come with drawbacks. For example, if the provider doesn’t charge for its signals, they likely aren’t profitable. It wouldn’t make sense for the provider to analyze the markets all day just to give their findings away for free.

Additionally, we found that many providers offer free signals with blacked-out information. For example, the signal might provide the forex pair and take-profit prices but not the entry and stop-loss. To reveal these metrics, you’d likely need to pay.

Ultimately, to access the best forex signals, you’ll need to pay a monthly fee. This is a win-win situation for both you and the provider. From your perspective, you’ll be getting premium signals based on expert analysis. And from the provider’s perspective, they’re financially motivated to produce profitable forex signals. In doing so, they’ll retain their clients long-term.

Best Free Signals

While you’ll need to pay to access the best forex signals, there’s a slight exception. We found that some providers offer a limited number of free signals every week. This allows potential customers to test the signals without needing to pay anything. This highlights that the provider is confident in their signals.

Best Forex Signals Telegram Groups

You won’t need a forex signals app to receive trading suggestions. Instead, the best forex signals are sent via Telegram. You’ll receive your signals in real-time and be notified via an alert. We like that Telegram supports custom alerts too, so you’ll know that a new signal has just been posted. This ensures that you can place the suggested orders without delay.

Are Forex Trading Signals Profitable?

There are many forex signal providers that make consistent profits.

  • For example, 1000pip Builder has been in the forex signals industry for many years.
  • Since its inception, it has produced a historical win rate of 76%.
  • In order to align with its win rate, you would need to follow all of its signals. After all, not all 1000pip Builder signals will be profitable.
  • But by following all of its trading suggestions, you’ll give yourself the best chance of making money.

However, there are also providers that lose money. It’s important to remember that you’ll be replicating their losses like-for-like. This is why the backtesting process is so important. Irrespective of the claims made by the signals provider, you should test it out via a brokerage demo account.

This means placing the suggested orders with virtual funds. You won’t need to keep a manual log, as all trades will be recorded on your demo account.

After several weeks, you can assess whether the forex signals are profitable. If not, you can cancel your plan with the signals provider and look for another option. Ultimately, there’s no guarantee that you will make money from forex signals. So make sure you avoid risking more than you can afford to lose.

How to Use Forex Signals

We’ve covered everything there is to know about forex signals in 2024. Now, we’re going to show you how to get started with 1000pip Builder – which offers the best forex signals in the market.

Step 1: Sign up for the Flexible Monthly Plan

First, you’ll need to visit the 1000pip Builder website and sign up for a premium plan. You can sign up for a longer plan to reduce your monthly fees.

1000pip Builder Plans

Step 2: Join the 1000pip Builder Premium Telegram Group

The 1000pip Builder premium Telegram group is only available to paid members. After paying for your subscription, you’ll receive instructions via email on how to join.

When 1000pip Builder sends a signal, it will appear in this Telegram group. It’s worth setting a custom alert so you know to check as soon as you hear it.

Step 3: Set up a Forex Demo Account 

We would suggest that you backtest 1000pip Builder’s signals before risking real money. To do this, you’ll need a brokerage demo account that tracks the live forex markets. There are plenty of options to choose from. After all, the forex market attracts trillions of dollars in volume every day.

Step 4: Place Suggested Signals on Your Demo Account  

Now that you’ve got a demo account set up, you’re ready to begin the backtesting process. When you receive an alert from the 1000pip Builder Telegram group, this means you’ve received a signal.

For example, suppose 1000pip Builder suggests the following:

  • Pair: AUD/CHF
  • Trade: Buy
  • Limit: 0.57400
  • Stop-Loss: 0.57290
  • Take-Profit: 0.58200

This means that you’ll need to place a buy order on AUD/CHF. You’ll need to ensure you select a ‘limit order’ and enter the suggested price, which is 0.57400. You’ll also need to place a stop-loss and take-profit at 0.57290 and 0.58200, respectively.

You also need to enter your stake. It’s a good idea to keep this consistent through the backtesting phase. Finally, place the order. It will only be executed if 1000pip Builder’s suggested limit order price is triggered (0.57400).

Step 5: Review Signal Performance   

The above steps should be repeated for each signal that you receive from 1000pip Builder. We would suggest keeping the backtesting phase going for at least 2-3 weeks.

This will give you enough time to assess 1000pip Builder’s profitability. After all, you’ll receive up to five signals per day. If you’re happy with 1000pip Builder’s service, you might consider signing up for a longer plan. This will save you money each month.

Conclusion

We’ve ranked and reviewed the best forex signals for 2024. 1000pip Builder is our top pick. This established provider offers multiple premium signals every day – delivered in real-time via Telegram. 1000pip Builder has had an impressive historical win rate since its inception. You can sign up for a premium plan for just £19 per month.

References

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Kane Pepi
Editor

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…