What Should You Expect From A Forex Signal Service Provider

1. What Should You Expect From A Forex Signal Service Provider A Forex signal is a proposal to enter a trade on a currency pair at a specific time, price, and opportunity. Since the signal is time-bound, it is usually communicated via email, website, SMS, Tweet, or any other method that ensures a quick receipt. The signal is generated either by a Forex robot provided to a subscriber of the Forex signal service or a human analyst. 

2. Services provided by Forex signal service providerscan be categorized into four sections though these are not all-inclusive. They are Unpaid/free signals, paid signals from a provider either by algorithmic analysis or personal analysis, paid signals compiled from several signal sources and systems, and signals supplied by trading software on the trader’s computer. This is also known as Forex robot or EA (Expert Advisor).

3. Breaking down these broad categories further, the services offered by Forex signal service providers are –   • For one or more currency pairs, the precise or estimated entry, exit and stop loss figures for trades. • Supporting graphs and/or analysis for the signals • A run-down of past trading figures with the monthly pips, profit/loss along with the risk/reward ratio and actual trades. Often these may be shown as back-tested results, especially in cases where Forex robots are used. • Personal interaction with reputed traders and the signal provider through comments, forums, and more

4. Though these are general services that should be given by Forex signal service providers,not all offer the complete list. Their methodologies and trading strategies differ too with most focusing on supplying signals based on technical analysis while others bank on fundamental analysis or price action.