We have been in the world of Forex and Trading for many years now, and we have really seen everything regarding Free Forex Signals or Free Trading Signals in general .
Even for those who already operate on the Forex Market independently, the possibility of taking advantage of Free Trading Signals (possibly automatic) has always been attractive, especially to be able to wisely diversify their business across multiple financial instruments.
Searching on Google, the offer of Free Forex Signals services seems really thriving.
However, for an inexperienced eye it may be difficult to understand the Pros and (especially) Cons of the various options.
And here we are with the solution.
In this post we will show you the main options you can find on the internet for safe and free Forex Signals and Free Trading Signals.
We will show you in short how they work , and what are the Pros and especially the Cons to help you make a better decision.
In addition, at the end, we will reveal to you what our preferred solution is , the reason for this choice, and the best solutions that you can use to get the most in terms of Free Forex Signals.
Trading magazine with a section dedicated to Free Forex Signals
On the internet you can find sites that deal with various topics related to forex and the world of financial investment. Many of them have a section dedicated to free forex signals . These are usually the worst sources of signals you can find on the web.
Basically you have no perception of which trader decides the market entries and above all which strategy is used. Very often basic forex trading signal systems are used, such as reaching a pivot point or crossing two moving averages to give a Long or Short entry signal.
These forex signal services are very often free, basic and unprofessional. Most of the time they indicate an entry price but they don’t give you precise take profit or stop loss references.
Websites entirely dedicated to Free Forex Signals
Usually these sites have a commercial formula for which you can get a limited number of signals for free, after which, to continue, you need to sign up for the paid forex signals service . The limit can be in terms of time or for currency changes or limited in the sense that out of 10 available signals they show you only 2.
The paid package, which commonly includes a month or more of service at a certain price, allows the complete use of the forex signal service. Clearly, this is no longer free forex signals.
The big flaw of this type of site is that very often it is not possible to understand who is behind it, if a single trader or a group of traders who perhaps operate within an operations room, and there is no transparency regarding the strategy used.
The historical data provided are only related to performance, but in fact it is not possible to quantify the extent, depth and duration of the losses (drawdowns) and often all other statistical-operational data useful for assessing whether the market approach may be compatible with your risk-return needs.
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Traders who provide a Trading Signals service
From here we start with the category of flesh and blood signal providers . Generally they can be discrete solutions, except that even in this case the forex signals are not free.
Within this category there are traders who put their face to it. They usually have a blog or a site with which they tell their vision of the market and their trading style. They take paid trading courses where they explain their investment strategy, and very often, to confirm the validity of the investment methods they use, they provide a service of forex operating signals , on stocks or on indices and commodities.
In this case the service is never free, except for a short trial period. However, the investor has the opportunity to understand the trading strategy used, and if this can be right for him in terms of risk return.
Having to replicate the signals manually, the trial period also serves to understand if the signals that are issued are at times compatible with their work activities.
Free forex signals with Social Trading
Among all those listed, this is certainly the most innovative option , born in recent years and which has risen to prominence throughout the Forex scene, but not only.
Social Trading exploits modern web 2.0 technologies to allow the creation of networks within which thousands of investors can connect and interact, just like they would in a Social Network like Facebook, only in this case the main discussion topic it’s like investing your money, or rather like trading.
Each trader can share their vision of the market, their operating strategy, studies and opinions, but above all they can share their trading signals .
The first feature that unites the vast majority of these networks is the fact that they are totally open and usable by any type of user . The second is that the investments and trading operations performed by traders are monitored and recorded, in order to create a real trader profile , complete with performance and statistical data on his real abilities.
The companies in this specific sector are different (there are various forms of Social Trading ), but among the main platforms we find TradingFloor.com , eToro and Tradeo .
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Free forex signals with Copy Trading
In addition to Social Trading, and it is the function that makes this solution most interesting for those looking for free signals for forex, it is certainly Copy Trading .
Many of the Social Trading companies, such as eToro seen above, along with other more specialized ones such as ZuluTrade , offer these services.
Basically, as in Social Trading the trader can share his trading signals, but in this case the investors who wish to follow his strategy can automatically replicate them on their investment account , without even having to monitor the platform, all absolutely automatically. .
The Copy Trading company ensures that the trades generated by the trader are then automatically replicated on the investor’s trading account, and earns by receiving a small commission of the spread generated in each trade. Same story for the trader who generated the signal. In this case, we can well say that a win-win-win situation is created .
The characteristics of automatic trading signals
Here are the features of the free trading signals with Social and Copy Trading:
- Truly free : you pay money into your trading account to be able to trade, but you don’t pay for any services, no subscription, no fee.
- Wide range of choice : the companies offering these services are many, growing, and the signal providers within them are thousands; the investment and customization possibilities are therefore endless.
- Performance analysis : the traders whose forex signals we want to copy are not chosen in a poke, but can be analyzed before starting.
- Automatic : once you have set up your account, there is no need to constantly follow it; everything is replicated automatically through the server.
- Flexible management : your platform can be managed in a hyper flexible way, and above all also monitored by smart phones and tablets.
- Risk Management : Most of these platforms are regulated and obligated to provide risk management systems that increase the safety of their capital.
- Compound interests : being a real investment portfolio, it is possible to exploit the logic and power of compound interests
Who provides the best Free Forex Trading Signals service?
Here are our choices.
First of all, however, we must specify that by now it is no longer just Forex, but today we have access to a wider range of products, which include stocks, bonds, indices, commodities, and even bitcoin and ETFs, thanks to the contribution. of CFDs (Contract For Difference) we also offer Signals for CFDs
As explained in the previous paragraph, we really like the fact (but not only this, the reasons are many) that with Copy Trading we can easily obtain a free service of automatic trading signals , directly connected with our trading account.
This is the main reason why our choices simply fall on the best Copy Trading companies out there today, namely:
How to make the most of Social Trading Free Forex Signals
Although that of Social and Copy Trading is the best option, we must not think that it is risk-free.
The activity of automatically receiving and replicating forex signals is nothing more than an advanced and innovative form of investment . In this new practice, the investor’s choices do not fall on financial products, but on other people, on other investors and traders, who will be included in what is now called a People-Based portfolio .
As we all know, there is no investment that does not incorporate a certain level of risk. Social and Copy Trading are no exception.