If you’re looking to actively trade forex online but in a passive manner – forex signals could be the solution. This is because your chosen signal provider will send you suggestions on which currency pair to trade and what entry and exit orders to place.
In this guide, we review the Best Forex Signals for 2022 and walk you through the process of getting started today!
In This Guide
Stuck for time and looking to get started with the best forex signals right now? Check out which providers made the cut below. You can scroll down to read a full review of each forex signal provider!
With hundreds of forex signals services online – knowing which service to sign up with can be really challenging. In fact, you will find that the vast majority of forex signal providers make really bold claims that in reality – are impossible to validate with any certainty.
This is why it’s really important to perform lots of research in your search for the best forex signal platforms to ensure you are joining a legitimate provider.
To help point you in the right direction, below we discuss some of the most popular forex trading signals for 2022.
After reviewing the credentials of dozens of providers, we found that Learn2Trade offers the best forex signals in the market. The signal platform has been offering its service for many years – and reviews in the public domain are largely very positive. In terms of how the platform works, Learn2Trade specializes in forex and cryptocurrency trading signals.
It also offers a side package that includes stock trading signals. All signals are posted to the Learn2Trade Telegram group – which at the time of writing has more than 17,000 members. Upon receiving a signal, you will be told what forex pair to trade and whether you should place a buy or sell order. You will also be told what entry price action to execute the trade at, alongside the suggested stop-loss and take-profit order.
All in all, Learn2Trade forex signals provide you with all the required information to trade in a risk-averse manner – without needing to perform any research yourself. There are two forex signal plans offered by this top-rated provider. First, you might consider the free plan – which includes three forex trading signals per week. Or, if you want to get the full trading experience, the premium plans get you 3-5 signals per day.
This will cost you just £35 per month and even less when signing up for a 3-month, 6-month, or lifetime membership. Crucially, Learn2Trade is one of the few forex signal providers that offer that all-important moneyback guarantee. That is to say, if you sign up for the premium plan and decide that it isn’t right for you – Learn2Trade will refund your purchase. This does, however, need to be requested within 30-days of signing up.
There is no guarantee that you will make money with this provider. Proceed at your own risk.
Among the many forex signal service providers in the market, PriceAction Forex Ltd. has definitely positioned itself at the top. PriceAction Ltd. provides robust trading solutions for forex traders. Since its launch, the company has been serving hundreds of thousands of global traders. PriceAction Forex Ltd. has the biggest trading community on the Telegram platform, which it uses to communicate and provide its signal service.
Operating from the UK, PriceAction Ltd. was founded by a group of professional and veteran traders in the year 2017. On its Telegram platform, it serves 260K+ global clients with the most accurate and precise trading signals. Every day, approximately 5 to 7 signals are sent. The sent signals consist of the entry position, take-profit, and stop-loss. Traders just need to copy the position and paste it on their MT4 or MT5 platform. PriceAction Forex Ltd.’s signals are so accurate that in the year 2022, it has kept its signal accuracy level above 92%, a 19.079+ pips gain already.
According to the team behind PriceAction Ltd., they are constantly monitoring and analysing the market and, based on that, have constructed their own personalised trading strategies which are suitable for scalpers, day traders, and swing traders. Based on the smart money concept and technical analysis, PriceAction Forex Ltd.’s traders are in constant profit. If new traders want to verify the signals’ accuracy, PriceAction Ltd. has a free Telegram channel for them as well. At least 2 signals are sent every day on that channel.
The company also offers signal services for indices, commodities, and others. PriceAction Forex Ltd.’s subscription fees for forex signal services start from $119/month to $499/lifetime. It has its own customised Algo and Copier bots that can assess and execute according to the most volatile hours of the market. Along with these, professionals behind the company come to light every week for the signals projection, trade analysis, and share educational content.
Your money is at risk.
MegaFX Signals is one of the most popular forex signal providers in the market due to its high accuracy and transparent team behind the firm. This highly reputed signals provider is committed to serve traders of forex, indices, commodities and others simultaneously. MegaFX Signals has 100K+ clients around the world.
After trying out the forex signals from the MegaFX Signals VIP Telegram channel, we are pleased with its services. Keeping its promises of high accuracy, we have profited within this short period of experience. MegaFX Signals provides 5 to 6 forex signals every day on their Telegram VIP Channel. For the fastest and smoothest trading experience, the company sends signals with the entry position, take profit, and stop loss.
One of the notable things we noticed about MegaFX Signals is that it constantly tries to educate traders, training them in risk management. Which is why we think MegaFX Signals is best suited for all kinds of forex traders, especially beginners. The subscription fees start at $54 a month to $349 for a lifetime service.
Moreover, unlike many signal providers in the market, MegaFX Signals has a free Telegram channel if anyone wants to verify its signals' accuracy. Along with its signals service, MegaFX Signals also has a top-rank Expert Advisor (MegaTrader EA) and Copier. Every week, professional traders behind the firm provide real-time trade projections and weekly trade analysis for their premium traders.
Your capital is at risk.
1000pip Builder is a fully-automated forex signal service that allows you to trade in a 100% passive manner. This is because the signals come in the shape of a forex EA (Expert Advisor). For those unaware, EAs are trading robot files that you install and deploy through a third-party platform like MT4.
This means that the signals offered by 1000pip Builder will be traded on your behalf via your chosen MT4 broker. As such, there is no requirement to evaluate each signal nor head over to your trading platform to place the suggested orders.
While this is super-convenient, this does mean that you need to have full confidence in the 1000pip Builder. The number of signals that the robot executes will vary. But, most users claim that this is usually in the region of 10 trades per day. Nevertheless, the 1000pip Builder typically focuses on six major forex pairs and three candlestick timeframes.
The latter covers the 15-minute, 1-hour, and 4-hour pricing feeds. When it comes to pricing, the 1000pip Builder charges a one-time fee of $97. This means that once you have bought the signal robot there is no ongoing fee. Although this will save you money, it's important to remember that the team at 1000pip Builder might not be overly motivated to regularly backtest the robot as it doesn't collect monthly subscription fees.
Direct Forex Signals is a UK-based provider that claims to have been active in this space for over 10 years. Specializing exclusively in currency trading, all signals are sent in real-time via the Telegram group.
This signal provider claims to have a win rate of between 89.54% and 93%. There are several plans to choose from at Direct Forex Signals. The lowest-priced plan will cost you £30 per month and will get you 1-5 signals per day.
The key problem with this plan is that it does not come with the suggested take-profit or stop-loss order prices. For this, You would need to opt for the £55 plan, albeit, this gets you access to the platform for three months. The other option you have is the £85 plan - which gets you access to the signal service for 6 months.
Launched in 2014, Daily Forex Signals specializes in forex. Like the other best forex signals providers discussed thus far, all suggestions are sent via Telegram. In total, Daily Forex Signals claims that it is home to more than 3,000 members and has so far generated gains of over 27,000 pips.
Daily Forex Signals offers four different packages to choose from - all of which come with 3-5 trading suggestions per day. The cheapest package costs £29.99 per month, while a 3-month package costs £74.99. Other packages include a 6-month and annual plan - which gets the fee down even further.
The provider notes that all forex signals are generated via technical market analysis - which is performed in-house. Commonly used indicators include the Resistance Levels, Moving Averages, Parabolic SAR, and Elliot Wave. Daily Forex Signals notes that it has a success rate of between 64.5% and 75%.
Forex Signals Factory is an established signal provider that has a huge Telegram channel with over 83,000 members. This makes the provider one of the largest signal service groups globally.
The provider explains that it has no conflict of interest because it is not partnered with any third-party broker. Most forex signals are sent with two take-profit prices. This allows you to trade a risk/reward level you feel comfortable with.
Algo Signals offers free forex signals in the form of an automated robot. Unlike most robot providers, you won't have access to the respective software file. Instead, the robot will trade on your behalf behind the scenes.
Algo Signals doesn't charge anything to join the platform but you will need to register with one of its partnered brokers. The minimum deposit to activate the robot is $250. Once you have funded your brokerage account, you can first test the robot out in demo mode
On top of forex, Algo Signals will also trade cryptocurrencies like Bitcoin and Ethereum. The platform allows you to set up risk-management trading strategies to ensure you do not blow through your account. For example, you can install a maximum stop-loss value - which the robot will need to follow.
FXPremiere does things differently from other forex signal platforms. In fact, it does not offer a proprietary signal service at all. Instead, by joining FXPremiere - you will have access to 50 different signal providers through a single account.
As you can imagine, this means that you will be receiving the best forex signals around the clock. You can, of course, filter your signals by the respective service - should you have a number of providers that you prefer.
When it comes to fees. the basic plan will set you back just $37 per month. All signals come with the suggested entry, exit, and stop-loss prices. If you want to reduce your monthly fee further - you can get 4 months for $97 or 1 year at $199.
ForexSignals.com has a great reputation in this industry. It offers a cutting-edge platform that is really easy on the eye - and we like the fact that the provider explains the importance of learning technical analysis yourself.
That is to say, ForexSignals.com encourages all clients to combine its trading suggestions with ongoing education. This is something provided by ForexSignals.com itself through video guides and mini-courses.
In total, more than 83,000 people are using the provider. You will pay $97 per month to gain access to its forex signal room - and you have the choice to follow individual traders. Most importantly, the platform offers a 7-day free trial - which illustrates that ForexSignals.com is confident in what it offers.
MQL5 is a premium service offered by popular third-party trading platform MetaTrader 5 (MT5). This operates more like a Copy Trading service, insofar that you will need to select an MT5 trader that you like the look of.
You can do this by browsing through the trader's profile - looking at key metrics like their historical performance, preferred forex pairs, and maximum drawdown. Once you find a professional trader that you wish to copy, all ongoing positions will be mirrored in your own account. MT5 charges a fee for its signals service - which averages $30 per month.
Take note, you will still need to have an account with an MT5 broker if you wish to use this service. After all, MQL5/MT5 are third-party platforms that sit between you and your chosen broker. In your in search for a top-rated MT5 broker, you might want to consider Libertex.
Although FXLeaders offers a premium service, it also provides lots of free forex signals throughout the trading week. There is no requirement to download a forex signals app as all suggestions are available through the provider's website.
The team behind FXLeaders relies solely on technical indicators. In particular, the platform likes to focus on Fibonacci Levels, Breakouts, and Bollinger Bands.
In total, the platform sends out between 90-100 free forex signals per month. Perhaps the main drawback with FXLeaders is that it doesn't offer the suggested entry price. Instead, you'll need to sign up for the premium service for this.
Below you will find a comparison table that outlines the fees applicable at each forex signal provider and the type of service offered.
Forex signals are trading suggests that essentially tell you what orders to place at your chosen broker. The signal provider that you sign up with will usually have a team of in-house traders that perform research throughout the trading day.
When the team finds a trading opportunity - they will then send a signal that contains all of the required information that you need to act on it. Back in the day, this would have been via SMS. But, these days, the best forex trading signals are sent via Telegram.
An example of a forex signal is outlined below:
Once you receive a signal like the above from your chosen provider, you will then need to head over to your forex trading platform and place the suggested orders.
As you can see from the above, you are told what pair to trade (EUR/USD) and what direction the signal service thinks the forex markets will go (long). In terms of risk management, you are also told what price to enter the market at (1.1808), and what stop-loss (1.1890) and take-profit (1.1702) orders to place.
This means that there is no need for you to personally perform technical analysis or fundamental research. Instead, you can actively trade forex without needing to lift a finger.
The general process when using forex signals services works like the following:
Depending on the provider, the above process will be repeated 1-5 times per day. Over the course of the month, it is therefore important that the signals generate more winning trades than losing ones.
You certainly aren't spoilt for choice when it comes to choosing a forex signal provider. After all, there are hundreds of such providers active in this space - most of which promise huge monthly returns.
To ensure you find the right forex signal provider for your needs, below we explain the most important metrics to look out for.
It goes without saying that you need to have a firm idea of how the forex signal provider has performed since it was launched. This is somewhat challenging, as it is often difficult - if not impossible to know whether the provider's claims are valid.
For example, just because a signal service claims that it generates gains of over 1,000 pips per month, doesn't mean that this is true. This is why it's crucial that the provider offers a free trial or moneyback guarantee of some sort - which we elaborate on in more detail below.
Those behind the best forex signals will always offer a free trial or moneyback guarantee to new members of its service. This shows that the provider is confident in what it offers. For example, Learn2Trade offers a 30-day moneyback guarantee - no questions asked.
This is fundamental, as it gives you enough time to test the forex signals out via a free forex demo account. All you need to do is register with a broker offering a free demo platform and place all of the orders that the signals suggest.
A few weeks later, you can tally up all of the results band and determine whether or not the signals are worthwhile. If they are not, you simply need to trigger the 30-day moneyback guarantee and the entire process will have cost you nothing.
We find that those offering the best forex signals will charge a monthly subscription - as opposed to a one-time fee. The reason for this is that it ensures the signal provider is motivated to keep its client base. After all, if the signals start to lose subscribers' money, then they will not stick around.
But, by putting in the legwork and ensuring the forex signals constantly outperform the market, subscribers will happily renew their membership each month.
At the other end of the spectrum, you have providers that charge a one-off fee to buy the signals - which usually comes via a downloadable software file that you install into MT4. Naturally, the provider has already maximized the amount of money they can get from you - so has no interest in ensuring the robot is able to continuously stay ahead of the curve!
If you're ready to get started with the best forex signals right now - we are going to walk you through the process with Learn2Trade. This top-rated provider offers a 30-day moneyback guarantee - so as long as you test the provider out first via a forex demo account - you've got nothing to lose.
You will first need to register at the Learn2Trade website. You will need to choose a premium plan, albeit, it's best to stick with the 1-month option to start with so you can test the signals out risk-free.
As soon as you have registered and paid for your plan - you will be provided information about how to join the Learn2Trade Telegram group.
Open the Telegram app and join the Learn2Trade premium forex signal channel.
It's also a good idea to set up your Telegram notifications so that you receive a unique sound every time a Learn2Trade signal arrives.
Now that you have joined the Learn2Trade Telegram group, you'll need to open a forex day trading account that offers a free demo facility. eToro is a great option as the commission-free forex broker offers demo accounts with a $100k paper balance. This is more than enough to test Learn2Trade out.
There is no requirement to deposit any funds to use the eToro demo account. Instead, you just need to go through a quick registration process - which should take you no more than a few minutes.
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
Now it's just a case of waiting for your first Learn2Trade forex signal to arrive via the Telegram group! When it does, all you need to do is head over to eToro (or your chosen forex demo account) and place the suggested orders.
This will include the forex pair, whether you should go long or short, and what entry, stop-loss, and take-profit prices to deploy.
Repeat the above process every time Learn2Trade sends a new signal and most importantly - make sure you keep track of your results!
Although Learn2Trade offers the best forex trading signals in the market - there is another option to consider if your main objective is to trade forex in an automated manner. At eToro - which is home to over 20 million clients and is regulated by three financial bodies - you can copy experienced traders like-for-like.
There are thousands of verified traders that you can choose from and no concern about the volatility of results. This is because each and every trade that the individual has placed at eToro is publicly available. As such, this presents a full range of core statistics - such as average monthly returns and maximum drawdown.
Perhaps even more attractive is the fact that eToro doesn't charge any commissions, fees, or subscriptions to use its Copy Trading service. Plus, you don't need to share any of the gains you make with the trader in question!
Live forex signals are the equivalent of trading suggestions. The signal provider will essentially send you tips throughout the day as to what forex trades you should place - based on its own research.
Once you receive a signal, you need to head over to your preferred forex broker and place the suggested orders. For example, you might be told to place a buy order on GBP/USD at an entry price of 1.3740. You might also be told to set up a stop-loss order at 1.3650 and a sell order at 1.820.
To get forex signals you will need to first choose a provider and then subscribe to the service.
If the forex signal tells you to go long, this means you need to place a buy order. If you are told to go short, you need to place a sell order.
Yes, foreign exchange trading signals are legit - but there is no guarantee that you will make money. This is why you need to perform lots of research on the provider before parting with any money. In fact, it's a no-brainer if the signal service offers a free trial or moneyback guarantee as you can test the providers out risk-free.
Most forex signal providers charge a monthly fee. This is usually in the region of $40-$100 per month.
Learn2Trade - which has over 17,000 members in its Telegram group, offers 3 free forex signals per week. If you like the free signals and wish to upgrade to the premium plan, you'll get 3-5 signals per day.
Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner.
Kane has also written for websites such as MoneyCheck, InsideBitcoins, Blockonomi, Learnbonds, Buysharesand the Malta Association of Compliance Officers.
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