Last Updated on 17 November, 2020 by Samuelsson
Don’t be deceived — learning to trade the financial markets and making consistent profits all the time is no easy feat. The truth is, most new retail traders lose money, and a great majority lose all their capital in the first two years. But that doesn’t mean you can’t be among the successful few. What you need is to find a great trading signal service that can be your compass in the markets.
A trading signal service is a notification that provides you with trading recommendations with stop loss and take profit parameters. It could also be an automated system that replicates the trade of the signal provider in your trading account. The key thing is that it allows you to participate in the market without needing to perform the difficult process of research and analysis.
In this post, we will take a look at the best trading signals providers across the stock and forex markets, discussing their background, type of signal, and why their services are the best at the moment.
1. The Robust Trader Swing Trading Signal Service
This is a swing trading signal service that focuses on the U.S. stock market. Together with the swing trading course, the Robust Trader swing trading signal service is operated by a team of expert traders headed by a former Merrill Lynch trader with more than 20 years of trading experience.
The Robust Trader Swing Trading Service was launched in 2013 and has been offering exceptional services since then. The trading signal has a solid track record better than what you can anywhere else, and the service is very transparent, with proven results displayed on the website. Amazingly, the results are pretty good, with more than 74% winning trades and a profit factor of 2.2. Interestingly, the signals are easy to follow! Once you sign up, you will receive swing trading signals for U.S. stocks daily before the market opens!
All trades in the results have been added one by one as they occur, and all the subscribers normally act on every signal that is presented as they occurred, and nothing has been added with hindsight!
The fee is very pocket-friendly. There are two payment plans: the yearly plan at $299.4 per year and the monthly plan at $34.95 per month. There is also a special offer to try out the service at $1 for the first month, after which you renew at $34.95 per month.
The $1 initial offer for a month is to help you test the signals to see how well they perform before you subscribe to the normal plan. This is better than an outright free trial since it makes you committed to trading the signals — it has been proven that humans don’t often value free things.
To effectively benefit from this swing trading signal, you should be comfortable placing orders with your broker. You also need to understand and know how to manage risks that are involved in buying and selling stocks.
2. Forex School Online Trading Signals
Forex School Online is a UK-based forex & analysis hub that offers signal services to their VIP clients in addition to the free daily market analysis offered to every other person. The free daily analysis is offered in the free telegram group, which also gives you access to the beginner price action course.
If want, you can use this analysis with your current trading strategy, but you can also learn how price action can be used to time your trade execution in a much better way, by understanding when and where to place the trade, based on price action alone. This allows you to get into the position before the market pushes the trade to the inevitable target.
However, if you don’t have the time for market analysis, you can upgrade to the paid signal version. The paid signals are based on price action, which the provider is famously known for. The signal service is said to have about an 81% win rate, with an average monthly gain of 29-38%. The monthly cost is fair and goes down if you choose to upgrade to yearly billing. Alternatively, if you open an account with their recommended broker, you can get free lifetime access to the VIP group and trading signals.
3. Learn 2 Trade Trading Signal
Learn 2 Trade is a UK-based forex and cryptocurrency signal service provider that serves both beginners and advanced traders. The signal provider caters to intraday traders, and their signal service is based exclusively on technical analysis. They send about 3-5 signals each day, on cryptos, forex, indices, and commodities, to their subscribers via Telegram, and the signals often come with chart analysis and market trends. There is also a mobile notification on all signals.
This provider claims to have an 82 % win rate, with an average monthly gain of 30-40 %. Their fee is fair at $35 per month, and the monthly cost goes down if you choose a 3-monthly or 6-monthly plan. You can also get Learn 2 Trade VIP Forex Signals for free for one year. What you do is to register your interest with our partner, FCA regulated FX/CFD broker, LongHorn FX. Once you have done that, you will receive the VIP Forex Signals free of charge for one year.
Learn 2 Trade’s forex signals always contain six key pieces of information: the currency pair that you are to trade, the trade setup, the entry price, the stop-loss price level, and the take-profit price level. Their signals are based on technical analysis indicators and tools, such as the Fibonacci retracement and extension levels, support and resistance levels, Bollinger Bands, moving averages, RSI, and others.
As a subscriber of Learn 2 Trade, you will also get full access to closed signals performance reports.
4. ForexSignals.com Trading Signal
ForexSignals.com is one of the most widely known forex signals providers. The trading signal service was launched in 2012, offering a beginner-friendly interface with the opportunity to also make use of advanced trading features, such as copy trading, which allows you to automatically copy the trades of highly successful traders.
The signal provider has over 1,139 reviews on Trustpilot, with an average rating of 5, and they boast of belonging to the top 1% category of successfully forex traders. They strive to ensure great transparency and provide professional customer service. Also, they give their clients access to live trading forum where traders share their ideas. They have different categories: The Professional ($47.25 per month billed yearly at $567 per year), The Apprentice ($97 per month), and The Committed ($49.5 per month billed every 6 months at $297). You can start with a 7-day free trial.
With over 83,000 forex traders worldwide benefiting from their platform, ForexSignals.com offers you everything you need to be successful as a forex trader. These are some of the benefits:
- You’ll get daily signals from professional mentors
- You can join daily live streams to watch & copy our trades
- You can share your trade ideas and get pro feedback
5. Pips Alert Trading Signal
Pips Alert was established by a team of successful traders with over 98 years of combined experience in the forex market, and their trading signal service focuses on the currency market alone. There are over 3,200 traders from all over the world within the Pips Alert community. You can join the community and use their signals as tools to assist you in finding better setups
The traders on the platform have years of experience in the forex market and go through a rigorous 9 months evaluation before being certified to send signals. They’re believed to be in the top 4% elite traders in the world.
One thing about Pips Alert is that they think that charts and further analysis are not necessary for their trading services, and their signals are mainly for day trading, mostly sent during the London and New York market sessions, which are the best market sessions for day trading. Every month, there are over 4,500 pips on average in signals sent through the platform, and in some months, they may be a lot more than that.
However, the trading results they provide are not always up to date, which can be a turnoff. Hence, the signal provider needs to do a better job by providing prompt trading results and trading strategy information.
6. 8alert Trading Signal
8alert is a full trading signal service and trading robots. Hence they don’t just provide signals but also opens and closes trades for you. The service is more like that of a roboadvisor service, but here, there are more customization features. Analyses are customized according to the trading range, tradable instruments, trading volume, and hour of activity.
They have many trading strategies and follow different trading styles, such as swing trading, intraday, and long-term, and they cover a wide range of instruments and analytics. 8alert provides some risk protection features, such as an automatic stop loss function, lot size restriction that is defined by the user, and money management features. You can access all the services with a mobile app, which you can use to check the charts of the preferred instruments and also monitor active trades.
7. MQL Marketplace Trading Signals
The MT4 and MT5 trading platforms have the MQL community of traders and MQL5 marketplace where you can see experienced traders selling their trading signals. You can analyze the trading history of those traders to know the ones to subscribe to their signal services. The interesting thing is that the signals are sent within the trading platform.
There are many signal providers that you can follow in the community, and you can easily gain access to their signals on your MT4/MT5 account. All you need to do is simply go to the ‘Signals’ tab after you have signed up on the MQL5 community account. You can sign up directly from your MT4 or MT5 trading platform and have the signals delivered to you within the platform, which you can either automate or trade manually.
When you want to select an MQL signal supplier, you should focus more on parameters like maximum drawdown and profit factor than on win rate and returns. The profit factor is the best measure of the profitability of a signal system, while the maximum drawdown shows what the downside is like. If you can’t stomach that level of drawdown, avoid that signal supplier. You may even go further to check the drawdown for open trades. The equity curve can give you a lot of information at a glance.
8. eToro Copy Trading
eToro is one of the most popular copy trading platforms around. They provide experienced traders with the opportunity to sell their trading signals while offering new traders the capacity to copy the trades of those experienced traders. The platform functions as both a broker and a trading platform, and you can trade in a wide range of financial instruments, including currency pairs, indices, commodities, cryptocurrencies, stocks, and ETFs.
Over 10 million users trust eToro. There are different parameters traders can use to assess the performance of the traders they’re considering to copy. One of them is the number of followers. A trader who is doing very great is more likely to have a lot of followers. Another is how long he/she has been trading. A trader who has been consistently profitable for 7 years is better than one with just 2-3 years of experience.
After all those initial assessments, you can then assess the trading performance. Here, you take a look at the equity curve to see how the trader’s equity has been growing. It will also show you, at a glance, how risky the trader is in terms of equity drawdowns. That is, it can tell you if the trader cuts his losses short or avoids taking a loss. Next, check the win rate, loss rate, and average win and loss sizes. Then, analyze the profit factor.
9. ForexGDP Trading Signal
Forex GDP is a well-known trading signal provider that focuses on the forex market. They offer their customers a free subscription plan with up to four signals a month, which has the potential to generate between 90 and 150 pips in profit. Those free signals are delivered via WhatsApp, and they include the basic entry and exit levels.
To get additional features and higher profit potential, you will need to subscribe to the paid plans, which gives you 8-12 trading signals with a target profit of 300 to 700 pips. The plan also gives you specific entry and exit levels while offering email support for as many as 6 more trade ideas in addition to the trading signals.
The subscription price for the premium plan is $84 per month, but it goes down to $69 per month for a 3-month subscription, $59 per month for a 6- month subscription, and $49 per month for a 1-year subscription. You can also opt for the Supreme plan that gives with 16-25 signals, including signals for commodities, with a target of 700-1500 pips. The subscription fee is $147 a month, the price declines to $126 per month for 3 months, $111 per month for 6 months, and $99 per month for a whole year.
10. JKonFX Trading Signal
This trading signal service is operated by the veteran trader, Joel Kruger to cater to novice and seasoned traders alike. The signals are based on six market analysis disciplines that include technical analysis, fundamental analysis, dashboard analysis, a trade journal, trader psychology, and bank reports.
Joel refers to each one of those six factors as the fundamentals and discusses them daily via a video presentation or information published on the website. There is a daily video with technical analysis and trading strategy, and he also discusses the fundamental factors currently driving the market movement. He uses the average daily range and currency strength index for his dashboard analysis and makes daily comments about how the banks operate. Joel also teaches trading psychology and also shows reports of his trading results.
JKonFX offers two plans:
- The $30 per month plan includes 5 weekly technical and fundamental analysis reports, at least 1 weekly Market Movers Report, and at least 10 Daily Bank Reports.
- The $45 per month plan offers you all of the previous offerings plus 3 trade finder dashboards, priority customer service, an export trade journal history, and instant trade alerts.
11. GPS Forex Robot Trading Signal
GPS Forex Robot offers user-friendly signals which can be automated. As the name implies, the signal focuses on the forex market. The signal provider offers good customer support. You can easily get their contact details on their website, and they answer almost immediately, which is quite impressive.
The trading signal can be automated on the MetaTrader 4 platform, but it would be preferable to use the advanced trade copier. The number of trading signals this Forex signals provider sends is quite interesting and undoubtedly has something to offer to traders. Traders of any experience level can benefit from using these signals, and many forex traders are already using the product.
GPS Forex Robot does not offer a monthly subscription plan as other signal providers do, the signals come with a $149 one-time payment.
12. Itic Software Trading Signal
Itic Software provides is a multi-service provider, offering traders with a wide variety of services including trading signals. They base their signals on technical analysis, and they cover all the main currency pairs. Their signals show you when to buy and sell a currency pair, with the entry price, stop loss, and profit target.
The provider makes use of multiple trading strategies, and all their strategies are always tested by professional traders, and their signals do not repaint. They always provide a source code and use unique mathematical algorithms only. All their services maintain a high standard.
13. Daily Forex Signal
Dailyforex.com is a very popular website that is focused on forex trading and cryptocurrency. The site gets more than half a million visitors each month, and they publish daily forex signals for all the major currency pairs plus Bitcoin.
These signals are free, and they are well detailed, with the trade direction, entry price, stop loss level, and profit target. The provider even explains how to manage the trades as they progress, such as when to move the stop loss to breakeven and when to close 50% of the position size. In addition, the provider shows the chart with an explanation of the analysis for the trade setup.
On the Daily Forex website, each currency pair gets a dedicated page for technical analysis, identifying potential trade setups. Each major currency pair is analyzed, and there is always a chart to back it up. The analysis is mostly based on price action, with some drawing tools to show important price levels.
14. Forex Signal Factory
The Forex Signal Factory team has been operating for more than three years now, and their services are completely free. Their services are mainly to assist manual traders who are looking for quality entries. They share their knowledge, thoughts, and experience about Forex trading to help new traders understand how the market works.
Forex Signal Factory categorizes some of their services into the following sections:
- Forex Copy Trade: Here, they show how to be profitable following traders on ZuluTrade
- Forex Broker: In this section, they provide reviews of top brokerage brands
- Forex Education: This section has some educational topics that can enlighten you on many aspects of trading.
- Forex Expert Advisor: Here, they teach you a lot about the use of expert advisors.
There are also other sections, like the trading strategies and Forex VPS. Their signal service is free.
15. Asia Forex Mentor Signal Service
The Asia Forex Mentor was founded by Ezekial Chew, a very popular trader in Asia who teaches retail traders, corporations, and banks how to trade forex. He runs a popular trading course, called One Core Program, which is considered among the best forex trading courses. But he also provides forex signals.
Chew does not focus on one instrument; he covers currency pairs, equity indexes, gold, silver, oil, and other financial instruments, offering forex technical analysis, forex news, forex charts, forex signals for the upcoming weeks. However, his programs are very expensive, costing more than $100 per month.
Here you can find our archive with all our swing trading articles.