Compare the best forex signals providers in 2024

Forex signals are tips that tell you when and how to trade the world’s most popular currency pairs. Use this page to learn all about how these signals providers work and compare the best platforms.
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Updated: Mar 7, 2024
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Having access to accurate and reliable forex signals can be the difference between success and failure. This comprehensive guide includes a list of the best forex signal services available, carefully reviewed and ranked by our team of expert forex traders.

Through an extensive evaluation process, we have analysed each signal service, investigating factors such as the quality and consistency of the signals, the success rate, risk management strategies, and the overall performance track record. 

We’ve taken an in-depth look at the signal providers’ trading methodologies, strategies, and the level of transparency they offer, ensuring that you have access to the most trustworthy and profitable forex signal services on the market. We’ve also considered price, so you’ll find the most reliable trading signals for a reasonable fee.

Best forex signals providers 2024

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  1. 1000pip Builder: Best forex signals provider
  2. Trade Ideas: Best for AI inspired trade setups
  3. Benzinga Pro: Best signals package for all markets

Where can I find the best forex signal providers?

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To dive in and start getting forex trading signals right away, you can use any one of the platforms below. Head to their website using the links in the table or keep reading to learn more about how to use signals first.

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1
Min. Deposit
$ 25
Best offer
User Score
9.3
Trusted Forex Signals
Your Success Starts Here
High performance signals verified by MyFXBook
Start Trading
Payment Methods:
Full Regulations:
Stocks, Options, Binary options, Forex and Future trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the stock, binary options or futures markets. Don't trade with money you can't afford to lose especially with leveraged instruments such as binary options trading, futures trading or forex trading.
2
Min. Deposit
-
Best offer
User Score
9.9
Trade Ideas AI gives real-time symbol entry and exit ideas
Picture-In-Picture Charting allows subscribers to see multiple trends at the same time
Streaming alerts that notify you the moment the event triggers; fully customizable
Start Trading
Payment Methods:
Credit Card, Debit Card
Full Regulations:
3
Min. Deposit
$ 1
Best offer
User Score
9.8
Informs of sharp price movements in under five minutes.
Alerts to when a stock is halted, and when a trading is resumed.
Large and aggressive option trades, including large blocks or options sweeps at or near bid/ask.
Start Trading
Payment Methods:
Full Regulations:

The best forex trading signals, reviewed

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1. 1000pip Builder. Best forex signals provider

1000pipbuilder logo

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Fees

...

Minimum deposit

20

No. assets

No

Demo/virtual account

Pros & Cons

Proven track record verified on MyFXbook Hundreds of 5-star reviews 1-5 trades sent per day Minimum monthly target of 350 pips
Just 15 currency pairs available

Overview

We love 1000pip Builder because it’s a pure Forex signal provider offering daily signals on a range of currency pairs. They have built a very strong reputation over the years and are widely considered to be one of the best FX signals providers available.

1000pip Builder are one of the few FX signals providers that have fully verified MYFXBook historical results. This means that you can have confidence in the accuracy of the signals. The overall performance of the signals have been very impressive over the years and the service has made consistently strong gains.

The fees: A one-month subscription costs $97 but there are discounts available if you commit to a longer period. A 3-month package costs $197, or $65.66 per month. 12-month subs are often on sale for less than the RRP of $1164.

Highlights

Visit 1000pip Builder 1000pip Builder Review

2. Trade Ideas: Best for AI inspired trade setups

Trade Ideas_logo

Broker dependent

Fees

$80

Minimum deposit

10,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Use advanced tools to analyse markets Lots of features and fully customisable Extensive educational content and videos
Fees are higher than similar platforms Not suitable for beginners

Overview

We love Trade Ideas because it’s one of the best tools for finding stock market trading opportunities. Using AI to scan the market in real time, Trade Ideas allows you to spot trade signals early, giving you the best chance of turning a profit.

With Trade Ideas, you can set up trade alerts for more than 10,000 stocks, using a range of criteria to create your own workflow based on your preferred trading strategies.

The fees: Trade Ideas charges a flat subscription fee. A standard account is $84 per month, or $999 per year. A premium account is $167 per month, or $1,999 per year. The TI basic plan, which you can use for a free trial, doesn’t cost anything.

Highlights

Visit Trade Ideas Trade Ideas Review
Stocks, Options, Binary options, Forex and Future trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the stock, binary options or futures markets. Don't trade with money you can't afford to lose especially with leveraged instruments such as binary options trading, futures trading or forex trading.

3. Best signals package for all markets

benzinga pro logo

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Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Affordable pricing Informative and intuitive dashboard. Active traders will find this data essential Real-time news tool works fairly well for time-sensitive trades Audio alerts come handy Highly customizable
Not suitable for institutional investors that need a dedicated service Advertisement: Benzinga is cheaper, but gets revenue from ads that might be annoying To get the most out of it, you need to take some time to customize it

Overview

We love Benzinga because it is more than just a signal service. Benzinga Pro is a cutting-edge actionable research tool that makes it easy to find the latest information impacting the market. Within the Benzinga Pro application, you will have access to its signals and cryptocurrency news. 

There are lots of customisable features within the Benzinga Pro app and you can filter depending on what asset you want to trade. You can also set alerts for various price events such as large trades, price spikes, and highs or lows. This makes it a top tool for not only signals, but keeping an eye on the wider market. 

The fees. A Benzinga Pro subscription starts at just $37 per month, although this has limited features. The ‘essential’ plan is the best value at $197 per month and gives access to all of Benzinga Pro’s features. If you’re interested in options trading, there’s a package at $457 per month.

Highlights

Visit Benzinga Pro Benzinga Pro Review

What are forex signal providers?

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Forex signals are suggestions that advise you when is the best time to buy or sell a currency pair (like GBP/EUR) based on a defined set of factors. Forex trading signals can be either automated, where the advice comes from a piece of software that analyses currencies, or be provided by professional traders.

The most popular forex signals providers are based on technical indicators, often as a result of price chart analysis. The software or trader identifies particular signs that suggest the price is about to move and then relays a forex signal to anyone who is signed up for the service. Usually, that’s made up of an entry and exit price as well as recommendations about where to set further stop limits. It’s then up to you whether you follow through on the advice or not.

The best forex signals remove a lot of the complexity, time, and risk from forex trading. You don’t have to do all the research yourself and they can help you minimise any losses by setting limit orders in advance. Forex traditionally has a steep learning curve, but by using signals you can quickly begin to understand how to craft a successful trading strategy.

How do forex trading signals work?

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Most forex trading signal providers work by simply sending you a text message or some form of alert with the information. If the system is automated then it tracks whichever factors you have chosen to pay attention to for a particular currency pair and sends you a message every time it indicates a buy or sell opportunity.

Some all-round platforms act as both a forex signal provider and a trading robot that can place trades for you. Others only send you the advice and then it’s up to you to copy the trade over to your forex broker and execute it that way. 

There are pros and cons to both approaches. With the former, there’s no chance of missing out on any advice but with the latter, you have more freedom to use your own expertise to decide whether or not to act on it. The best choice might depend on how active a trader you want to be and if you’re able to monitor the signals throughout the day.

Get started with forex signals providers – a step by step guide

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It’s a simple process to start using a signal provider to influence your trades. Below is a straightforward guide to take you through every step of the process.

  1. Register with a FX broker. Unless your signals provider can automatically place your trades, you need to sign up for a reliable forex broker in order to make them yourself. You should compare the best forex platforms and find one that suits your trading style.
  2. Sign up for a forex signals service. Most signal providers charge a subscription fee that you have to pay before you start receiving signals. The fee is usually a recurring monthly payment but might also be a weekly or annual charge, or a one-off up-front cost.
  3. Download any apps you need to receive the forex signals. Some trading signal providers send their signals over text or email while others require you to download specific forex apps, such as WhatsApp or Telegram, to be able to access them.
  4. Place trades based on the signals. Use the information provided by your forex signal provider to place a trade. The trading signal should include basic information such as the trade size and whether you should buy or sell a particular currency. All you need to do is search for the pair, such as GBP/USD, and then use that information to execute the trade.
  5. Set order limits (optional). The best forex signal providers also include details on where you should set your stop-loss or take-profit orders. These are trades that you place in advance to only execute when the price hits a certain level. It’s a good idea to use these so that you can lock in returns or minimise losses if the market moves a lot in one direction.
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What should I look for in a forex signal provider?

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You should find a forex signal service with a good reputation that’s easy to use and relays its information clearly. Along with those universal features there are a few more factors you should consider when dealing with forex in particular, and we’ve gone through each in more detail below.

Depth of information

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You should prioritise the quality and detail of forex signals over the number you receive. Look for platforms that include lots of supporting information and market analysis along with the signal to buy or sell.

At the very least your forex trading signal should include the currency pair to trade, the direction of the trade, the entry price, and advice on where to set stop-loss and take-profit limits.

Ideally you want to see price charts that explain the decision as well, and the best platforms send you signals well-ahead of time in the form of ‘get ready’ advice that indicates a buy or sell signal is coming soon.

Currency pairs available

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Most signal providers will let you trade the major pairs but if you want to trade less popular currencies then it’s very important to check they’re available before you sign up. The majors are the US Dollar paired with six other leading currencies (GBP, EUR, JPY, CHF, CAD, AUD, NZD) and make up 85% of forex trading volume.

The other combinations of currency pairs are divided up between the minors, which are combinations of all the major currencies excluding the US Dollar, and exotics, made up of currencies from emerging markets, such as the Mexican Peso and Thai Baht. It’s a lot more difficult to find signals providers for these pairs.

Free trials

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Find a platform that offers a trial period that you can use to see if using forex signals is for you. A monthly subscription is likely to cost in the region of $50 at a minimum so ideally you want to be able to test out the quality of the information first.

Plus you can get used to the practicalities of receiving alerts and using them to make trades.

Time zones

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The forex markets are open at almost all hours but you might not be. Choose a service that sends you alerts while you’re awake, otherwise the opportunity might have passed before you can act on it.

History of good performance

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It pays to take time to examine the returns that a forex signal service has provided in the past. This is where a free trial can be useful, as you can get an idea of how successful the signals are.

Good, reputable signal providers should show you their historical performance themselves as proof you can trust their work. You should be sceptical if that isn’t available, while there are also third-party websites you can use to verify performance.

Additional features

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Lots of forex trading platforms have extra perks that can tip the balance in their favour. If you’re interested in other markets, then you might want to look for a platform that offers stock or Bitcoin trading signals as well. Or it could be that you want some more educational material to help you learn as you go.

Quick answers to key questions

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How reliable are trading signals?

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No forex signal service is 100% reliable or can guarantee a profit on every trade. However, the best forex signals providers have a good track record of returning profits to their subscribers.

You can reduce the risk of falling victim to the unscrupulous providers out there by doing your due diligence: take time to verify its track record and use your own broker to make the trades yourself.

What’s the difference between a signals provider and copy trading?

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The main difference is that when you use forex trading signals you see the reasoning behind a trade and decide whether or not to act on it. You might be sent an alert that tells you that USD/JPY has hit a resistance level and it’s a good time to buy. Copy trading is simply the act of replicating someone else’s trades blindly.

Can I get free forex trading signals?

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Yes, some signal providers are free but most charge a subscription fee for access. Unless there’s a very good reason to pay for signals straight away it’s best to start with a free option or at least a trial.

The alternative to paid subscription services is often platforms like eToro, which offers a ‘copy trading’ feature that is free to use and where you can follow the work of professional traders.

Can forex signals make you rich?

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As with any form of trading, there is no get rich quick scheme and you should be wary of signal providers that promise that. Forex traders can and do make money this way but it’s a gradual process.

You should think of signals as more like an experienced traders assistant that does a lot of the dirty work for you. Instead of spending time on detailed analysis you can use them to see the results at a glance and as just one part of your wider forex analysis. 

What’s the difference between a trading alert and a trading signal?

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An alert tends to mean a notification of a piece of news, such as economic data or a price change. Signals, meanwhile, are direct advice to make a trade based on a set of defined factors.

How much should I risk on each forex signal?

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The amount of risk you should take on each forex signal depends on several factors, including your risk tolerance, trading account size, and the proven track record of the signal provider. 

As a general rule, successful traders recommend risking no more than 1-2% of your trading account balance on any single trade. This risk management strategy helps to mitigate potential losses and ensure longevity in the foreign exchange market.

It’s vital to remember that even the best forex trading signals and accurate signals from reputable providers cannot guarantee profitable outcomes for every single trade.

So, it’s advisable to start with a smaller risk allocation. As you gain more experience and confidence in the signal provider’s performance, you can gradually increase your risk exposure while maintaining proper risk management practices.

What is a forex signals Telegram group?

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A forex signals Telegram group is a community-based platform where signal providers share their trading opportunities and recommendations with subscribers in real-time.

These groups have become increasingly popular due to the convenience of the Telegram messaging app, allowing traders to receive signals directly on their mobile devices or desktops.

Within these groups, members can access live account updates, trading history, and past signals from the signal provider. The best forex signals Telegram groups typically have active moderation and offer additional resources, such as educational materials, market analysis, and opportunities for interaction with the signal provider and other traders.

Free vs paid signals

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Free forex signals can be an attractive option for beginners or those with limited funds. These signals are readily available through various online sources, including social media groups, forums, and dedicated websites. 

However, it’s important to proceed with caution and thoroughly vet the signal provider’s credibility, as free signals may not always be as reliable or consistent as those from a paid service.

Paid forex signals typically come from professional traders or established signal providers with a proven track record and a strong emphasis on risk management.

While they require a subscription fee or a percentage of profits, paid signal services often offer a higher success rate, more accurate signals, and additional resources such as detailed analysis, educational materials, and customer support.

OK, I’m ready to choose a broker

Should I use signals to trade forex?

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If you want to use advanced technical analysis to shape your trading decisions but don’t have the time or expertise to do it yourself, then forex signals are an ideal solution. Just remember that you shouldn’t put all your eggs in one basket and it pays to do your own research as well before you begin your trading journey.

Still undecided?

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To help you make a final decision over whether using signals is for you, here is a quick summary of their pros and cons. After that, there are two more answers to help set you up for a successful trading career.

Pros

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  • Forex signals are ideal for beginners who want to learn about what influences the forex market
  • You get real time notifications about when to make trades
  • Signals can reduce your risk and minimise losses
  • There are different options available, offered by software algorithms or professional traders

Cons

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Where can I learn more?

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Here on Invezz we have all the information you need. You can find out more about how to trade forex, get the latest foreign exchange news, or use our education section to learn how to trade forex sell signals.

Methodology: how we chose the best forex signal providers

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Our expert panel consists of forex traders who have spent many years involved in the currency markets. They signed up and tested each platform by performing a series of actions to examine how the service performed. These included signing up to a signals service, choosing a trading strategy, and using it to make a trade.

Each expert returned a list of their best performing forex signals services and we combined them into a final ranking. We also performed some additional consumer research to test various features of the platform, like their customer service policy, and to identify other forex signal providers that might merit inclusion.

No signal provider had any influence over the final ranking. However, we may make a small commission if you sign up via any of the links on this page.

FAQs

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Are forex signals worth it?
Are forex signals profitable?
Can I create my own forex signal?
What are the best free forex signals?
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Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.