Compare the best forex signals providers in 2023

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: Jan 5, 2023
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In this forex guide we explore everything you need to know about forex signals. Learn what they are, how to find the best signals providers, and get your key questions answered.

Best forex signals providers 2023

Where can I find the best forex signal providers?

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.

Min. Deposit
$ 97
User Score
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.
Min. Deposit
$ 100
User Score
Over $15 mlllion in assets
3,200 traders within our community
Join a growing family/community of traders from around the world
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Payment Methods:
Credit Card, Debit Card, Mastercard, PayPal
Full Regulations:
Pips Alert is neither a subsidiary of, affiliates with, not otherwise associated with any broker
Min. Deposit
$ 0
User Score
Trade stocks, options and futures using a back-tested statistical edge
Long-Term Wealth Potential
Data Driven Stock Picks
Start Trading
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Full Regulations:

1. 3Commas – best forex signal provider overall

Subscription fees: $0-$99 per month

3Commas is a forex signals service that sends you trade ideas and suggestions. You can sign up and use a limited service at no cost, allowing you to access free forex signals for a short time, or subscribe to one of its monthly payment plans in order to get full access to the trading signals.

The starter pack allows you try out the forex signals platform with basic functionality before you sign up to one of the more expensive options. There is a huge amount of flexibility between packages, that allows you to tweak the signals exactly to your specifications.

We found 3Commas to offer the best overall service, in terms of helping you get started and the freedom it gives you to choose and adapt a trading strategy to suit your needs. The most expensive, $99 per month, option is only suited to professional traders, but all the other price points might suit more casual traders.


  • Free forex signals starter account
  • Lots of flexibility in setting up the signals
  • Can be used for other assets as well as forex


2. PipsAlert – best forex signals for beginners

Subscription fees: $49.99-$59.99 per month

PipsAlert is a great way to learn about forex while being sent forex signals. It offers plenty of educational material, including a free training course, to help you get started. Signals are an excellent way to learn different trading strategies and the courses are an added bonus.

When you sign up to the PipsAlert forex signal provider, you gain access to its trading dashboard, where you can see and receive signals. These are all delivered in a format that you can just copy over to your trading software, so if you’re using MetaTrader4, you can simply copy them into there and place the trade.

Each trade comes with entry and exit points, along with other information that you can use to learn. The only drawback is the cost, since even the cheapest signals platform is $40 per month, but it’s worth it if you’re serious about learning and trading forex.


  • Free demo account
  • Free training course
  • Ideal for long term trading


3. Mindful Trader – best forex signal provider with professional expertise

Subscription fees: $47 per month

Mindful Trader is a a trading signals service where the research and trade ideas come from a genuine forex trading professional. Eric – the man behind the platform – created the code and tested all the trading strategies that the code is based on.

This human touch sets it apart from many other signals services, which can feel a little remote and automatic. Mindful Trader is a reassuring presence that provides a lot of data on past results that you can use to backtest the service before you use it.

This helps to make up for the lack of a demo account, because you can see enough to trust the platform without having to test it. However, there is only one subscription plan that’s fixed at $47 per month, which means there isn’t the flexibility that you can see with other signals services.


  • Human touch behind the platform
  • Verifiable past results
  • Can cancel at any time, no fixed contract


4. Zen Trading Strategies – forex signal provider with widest range of currency pairs

Subscription fees: $67 monthly or $599 annually

Zen Trading Strategies is an incredibly comprehensive forex signals provider. It can supply signals and trading alerts for more than 100 currencies according to a huge range of different strategies.

While the website and platform can be a little confusing at first, we found Zen to be one of the best forex trading signals providers around in terms of the service it offers. For forex enthusiasts who want to trade exotic currency pairs as well as the mainstream options, it’s almost unmatched.

The annual cost of subscribing is expensive but there is the option of a two week free trial to test out the service before you commit. The annual plan does work out as a significant saving on the monthly subscription too, so it’s worth thinking about if you want to be an active trader.


  • Comprehensive forex signals service that works for 100s of currency pairs
  • Lots of educational material
  • Choose signals from lots of different strategies


5. Trade Santa – best forex signal provider for automated trading

Subscription fees: $15-$35 per month

Trade Santa is an automated trading signals service that acts like a forex robot. You set the parameters and then the signals service goes away to find trading opportunities. As soon as it does, you’re sent a forex signal and Trade Santa places a trade on your behalf.

The platform was designed to work with crypto signals, but it can be used to identify forex trading signals as well. It’s easy to sign up and set your first signals going and then most of the rest of the work can be left to the Trade Santa algorithm.

Trade Santa offers three subscription plans, so you can start with a basic package at a very competitive $15 per month. Even the most expensive package, at $35 per month, is excellent value compared to the competition.


  • Very affordable price point
  • Automates trading so you don’t have to be online to act on the signals
  • Can set up the forex signal to suggest long and short trades


What are forex signal providers?

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 relay 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?

Most forex signals 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

It’s a simple process to start using a signal provider to influence your trades. Below is 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.

What should I look for in a forex signal provider?

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

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

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

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

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

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

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

How reliable are trading signals?

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?

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?

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?

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 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?

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.

Should I use signals to trade forex?

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.

Still undecided?

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.


  • 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


Where can I learn more?

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

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.


Are forex signals worth it?
Are forex signals profitable?
Can I create my own forex signal?
What are the best free forex signals?
How do I follow a forex trading signal?

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James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.