Forex traders make decisions in a tremendous financial market whose fundamental forces are beyond their control. Nobody can affect the ever-changing exchange rates, but the best free forex signals provide clues. They complement technical and fundamental analysis. Both methodologies require intense focus, knowledge, and sharp foresight, so reliable hints are prized.

What’s more, suggestions known as Forex trading signals can be found for free. This is another fascinating phenomenon, along with opportunities for trading without deposit. Note that the accuracy of Forex signals varies depending on the provider. This is why we have compiled this list of 10 top performers in 2022!

What are forex signals?

To put it simply, forex market signals are free or paid tips telling us when we should buy or sell our instruments. They can be generated manually (by an expert) or automatically (by software). 

Every signal recommends the execution of a specific transaction with a specific asset at a specific price and time. Some free forex trading signals concern only entry or exit, others are combined. One-sided signals are typical for long-term trading scenarios. 

In theory, traders may use these suggestions instead of performing their own laborious research. No matter your level of skill and experience, the best free forex signals can help you enhance your trading results. In addition, experienced traders have the chance to widen the scope of their profitability and experience.

TOP 10 Free Forex Signals Providers

Members who do not pay have access to a very limited number of free Forex signals per week. However, offers may vary. Here are the most noteworthy top forex signal providers of free and low-cost services.

1. FOREX.com

This US-based broker provides free access to the tools of the Advanced Trading Platform, including free Forex signals like Pivot Points for entry and exit. The company’s proprietary feature called Autochartist scans the market for trade opportunities that may serve as Forex live signals and performs technical analysis to make a forecast. The brand’s Recognia technical analysis portal is also free. It facilitates planning. 

The company uses the SMART acronym to describe the competitive advantages of its trading tips. It stands for “statistical, measurable, algorithmic, ready-to-trade, and time-framed”. Users can also see the past performance of the signals, although it does not predict the future. 

The system analyzes a stunning number of data points for free forex signals daily — 100,000s! It seeks out over 800 price-action patterns. Like other signal providers, Forex.com has done the coding for you — even beginners can leverage the power of its algorithms. 

Finally, every signal comes with a recommended strategy and an exact expiry time. Users do not have to calculate the optimal Stop Loss or Take Profit points. Forex.com signals remove most of the guesswork out of trading. 

2. ForexSignals.com

This is a colossal community made up of over 500,000 traders. The company was founded in 2012 by Nick McDonald, who was later joined by Will Thomas. Nick describes his original vision as building “a completely transparent and inclusive site that anyone could join”. Today, the founder is a seasoned trader and world-famous mentor. 

The platform is managed by 52 full-time employees who help 3 mentors to educate users from around 20 countries in real-time. This team is serious about its mission. Every day, it shares hundreds of signals inside the trading room. 

Users are notified when new signals become available. They can also copy signals used by the mentors and get feedback on their own ideas. However, automatic copy trading is not supported. 

The platform is highly rated thanks to its attractive features. First, users may connect to mentors with decades of collective experience. Secondly, it gives access to hundreds of instructional videos (over 350 as of this writing) and private one-on-ones with experts. Go to ForexSignals.

3. 1000pipbuilder.com

This platform has a long history of providing high-quality free Forex signals. The clues are based on independently verified historical data. They have shown impressive performance in challenging conditions. 

The company is highly rated by users and experts. It has strong confidence in the accuracy of its data, and the sentiment is shared by its following. Members may also improve their Forex trading skills thanks to one-to-one support from the company’s star, Bob James. 

The company promises to help users make impressive progress, gaining 600-1000 pips. A monthly growth rate of 350 pips is guaranteed, and many clients have reported positive results. These figures are not far-fetched due to the risk inherent in Forex trading. 

The services are quite straightforward: after signing up, you will receive emails with guidelines for using the trading insights and the service program. Every day, the team will provide from 2 to 7 signals. Its 24-hour signals are accessible from anywhere in the world, and support is provided 5 days a week.  

*Price may not be accurate.

4. Daily Forex

This signal provider’s website is visited by over half a million traders every month, and it is a one-stop shop for their needs. It includes in-depth broker reviews, market updates, and comprehensive educational materials. 

On Daily Forex, you can get fresh daily Forex signals for Bitcoin and all Majors. There is a dedicated page for every instrument. It features its risk score, recommended trading times, and Forex signals. The latter include instructions for bulls and bears, such as optimal entry, exit, and Stop Loss.

Every signal follows the same structure: risk level, best buy entry points, best-selling entry points, and a detailed review of the recent dynamics with an analysis of technical indicators and fundamental factors. 

The biggest downside is that free forex signal providers do not usually provide enough data for daily use, and their range is limited. The provider recommends them to beginners and traders who need basic tips a few times per week. 

Subscribers to the company’s premium service have “more sophisticated” signals sent to their smartphones. The company also offers a list of recommended providers to those who need more signals. 

5. Forex Signals Factory

This global signal-focused community connects over 45,000 traders. All trading ideas are provided free of charge, as the company provides “a bridge between professional Forex traders and retail traders that are looking for real-time advice”. The signals will come straight from the experts’ accounts to your trading platform. 

Therefore, any retail trader can benefit from the experience of professionals. On average, the company supplies 10-20 signals daily on both buy and sell positions, and they are suitable for all levels of experience. Each signal includes entry price, optimal trading time, and suggested Stop Loss and Take Profit. In terms of assets, the tips are limited to all types of forex pairs — Majors, Minors, and Exotics. 

Unlike providers like Forex.com, the company is not a broker — it merely sends signals to existing accounts. This eliminates the risk of spread expansion. However, it does sell some products — for example, The Telegram News Package for $49.99 a month and the Algobot Gold Trade Copier for $199.99.

6. Zero to Hero

This company prides itself on its extensive experience (10+ years) and verified results. It provides 4-10 forex signals per day with a monthly target of 300 pips. Its trend-matching strategy has demonstrated consistently impressive results. All signals are derived from the interplay between short-term momentum and support and long-term trading support and resistance. 

The Zero to Hero team analyzes technical and fundamental factors influencing all Major Forex pairs. Registered members are notified of all trades taken by the staff in real-time.  Every signal includes such details as an entry point, Stop Loss and Take Profit. The insights are delivered via Telegram, email, and text messages. 

The company does not offer any free tips, but its pricing is quite flexible. Users can choose between 4 plans, from monthly to annual. The price ranges from $95 (1 month) to $395 (1 year).

The most salient difference from other providers in the absence of Forex education materials. That said, Zero to Hero has a positive reputation in the eyes of beginners and pros. 

7. Learn2Trade

Learn2Trade is an educational platform used by over 25,000 traders around the world. It includes news, brokers’ reviews and ratings, educational content, and more. The signals come from seasoned experts with over 15 years of experience. There are free and premium tips. 

The company claims to bring subscribers thousands of pips per month. Anyone can receive real-time signals via Telegram through the company’s channel — typically, 3 ideas per week. The premium plan includes 3-5 signals daily. 

All tips are verified by experts. The channel also provides news and insights into all major global markets. This service is great for beginners, and its accuracy is high.  

Premium services cost 35 pounds per month, but users can save money with a lifetime subscription for 250 pounds. If they register with any of the brokers the company recommends, the VIP signal service is free forever. 

The company takes pride in its transparency. The signal service is based on AI and machine learning, and the algorithms do a great job. Users can see how each signal was generated (e.g., using Fibonacci retracement, support, resistance, etc.). All Majors are covered, including the best entry, Stop Loss and Take Profit values. 

8. MQL5

MQL5 is the name of the programming language used by MetaQuotes Software Corp. This company’s page is one of the primary sources of information for traders who use MetaTrader 4 or 5. It features a lengthy list of signal providers — other retail traders who may be copied via the terminals. You can use the signals without registration.

The MetaTrader software is used by thousands of brokers around the world, so this website is useful for millions of traders. The company’s platforms are user-friendly and widely customizable. They also support copy trading, which this service is for. 

A downside is that signals can be suggested by almost anyone. However, the performance of every contributor is assessed and rated in terms of ROI.  The search interface facilitates decision-making.  

Users can filter results by multiple criteria, including maximum profit, reliability, profitability within a month, for under 50 USD, and having reviews. You can also check how often each contributor trades and their highest drawdown (the deepest fall after a peak before recovery).

9. Forex GDP

Every registered customer of Forex GDP can get up to four signals monthly as part of a free subscription. The generated profits usually fall between the 90-150 pip range. The company will also send you trading ideas. Its website includes news analysis, broker ratings, and guidelines for choosing one. 

Every signal includes the entry price, Take Profit and Stop Loss. Long-term signals are sent by email, others are provided via WhatsApp. 

The company has over 100 positive reviews on Trustpilot confirming high accuracy — over 80%. The company is also very responsive to customer feedback. Users can trade its signals with any broker around the world. 

Additional features require a paid subscription, and the plans are reasonably priced ($20 – $37 per month with an annual subscription). Premium members get between 8 and 14 signals with a profit of 300-700 pips. The most advanced Supreme subscription unlocks 15-25 signals with a profit of 700-1500 pips. It also adds signals for commodities, news trading, jackpot entry, and trend reversal.

10. FXPremiere.com

This company established in 2010 has already helped over 100,000 traders. It boasts an accuracy rate of 90% and over 2,600 positive Trustpilot reviews. This signal service, which uses manual analysis and algorithms of software trackers, is used by individual and institutional traders. 

FX Premiere employs over 20 professional traders with Wall Street experience who gather tips from as many as 50 sources. All insights are sent via Telegram.  In addition to daily signals (up to 15), users also receive trading algorithms. The service caters to traders with any level of experience. 

The tips include full details of every trade, including entry point, Stop Loss, and Take Profit. As a VIP user, you only need to copy these parameters and paste them into your mobile trading terminal. You won’t miss lucrative opportunities thanks to push notifications. 

The channel is live 24/7, and the range of assets is relatively broad. FX Premiere will help you trade Forex Majors, Minors, & Exotics, Gold & Oil. 

Components of Forex Signals 

A Forex signal includes five essential metrics. It guarantees you have a sufficient range of data to act on with regard to personal risk tolerance. Here is how this may look:

1. Pair: EUR/USD
2. Order: Sell Order
3. Entry: 1.2231
4. Stop-Loss: 1.2271
5. Take-Profit: 1.2131

Pair (Your Instrument)

This is the asset the signal pertains to (in this case, the Euro against the US dollar). Most free Forex signal providers limit their range to Major and Minor currency pairs, as these are the most liquid and therefore popular for trading. The combinations are fairly stable — unlikely to experience high volatility. Besides, most brokers provide tight spreads for these two categories.

Entry (When to Open)

This value is the recommended price for execution. Without it, any signal is useless. Some signal providers with free and premium subscription plans blackout the entry price. This is a trick designed to prompt traders to sign up.

Please note that users of Forex signals should only place limit orders. Market orders will not allow you to act on the suggestions, as they are executed instantly at the best available price. Limit orders can be executed at an exact price level recommended by the signal source.

Suppose the EUR/USD pair is currently valued at 1.2221, and the signal suggests setting entry at 1.2231. If you act on this clue, execution will be triggered once the price hits this target. Until then, the order has a pending status. 

If the price is not reached, the order may be terminated. Cancellation is a common case, partly because not all sources of Forex trading signals are trustworthy. Reliable companies make sure entry conditions are favorable.

Stop-Loss (Protect Your Balance)

This element is vital for any risk-conscious trader, which means anyone who is serious about Forex trading. A feature of popular trading systems, it allows you to exit a trade automatically if the predetermined price is reached. It essentially cuts your losses.

Suppose you have set your entry at 1.2231 for EUR/USD based on the abovementioned signal. You have opened a short position, as you expect the price to drop. Unexpectedly, the market changes direction, and it begins to rise. 

This is contrary to your prediction. Now, every pip a pair gains your potential profits. Meanwhile, if the stop-loss order is set at 1.2271, execution will inevitably be triggered when this price is reached. 

Therefore, Stop Loss is your best protection against excessive risk. You will never lose more than you can accept. Remember that the market is beyond your control. It is driven by multiple factors, and present market trends may reverse at any moment.

Take Profit (Secure Gains)

Like Stop Loss, setting Take Profit allows you to have the order executed automatically at a particular price. However, rather than hedging losses, it allows you to secure profits. The logic is the same — you set a desirable value and wait for the market to reach it.

Importantly, the Forex trading signal may contain not one, but two alternative Take-Profit suggestions. For instance, for EUR/USD, these may be:

• Take Profit 1: 1.2131
• Take Profit 2: 1.2101

As you can see, the difference between the two clues is 30 pips. Why is this necessary? Traders have an opportunity to define the target with regard to their risk-to-reward ratio. For sellers, the conservative Take Profit option is the first one. Their peers who are willing to take higher risks for the sake of large margins would opt for the second suggestion.

How Do Forex Signals Work?

You may wonder where signal providers get their data. It may come from humans or automated systems. The analysis is the hardest part of Forex for beginners, so many traders are interested in getting prompts. Signals are rarely generated by humans, this is labor-intensive and accuracy may suffer. A handful of companies have seasoned traders with a wealth of experience. You can read more about trading strategies in our article.

These experts research the markets manually using fundamental and technical analysis. Once they spot a promising opportunity, they share this knowledge with subscribers. Naturally, it is much easier for a company to task an algorithm with the same job. 

Algorithms use technical indicators. The technology may be based on some kind of AI, machine learning, or both. Automated systems have an edge for several reasons listed below.

• An ability to analyze an unlimited number of Forex trading pairs concurrently.
• An ability to perform analysis 24/7 (mental fatigue or exhaustion are irrelevant).
• The rational analysis is made on predefined conditions only. Automated systems do not experience emotions, so their suggestions are more reliable than tips from humans.
• Responsible signal providers keep improving their signal generators all the time. This means their systems stay ahead of the curve in this colossal changeable market.

How to Use Forex Trading Signals?

Forex signals contain details of promising trading opportunities. They are calculated for a particular currency pair. For both bullish and bearish positions, you can see the entry price, Stop Loss, and Take Profit. You can copy these signals and paste them into your trading terminal. Pay attention to any comments to the signal. 

How to Choose the Best Forex Signals Provider?

Do not focus on the number of signals you will receive per week or per month. What matters is quality, not the number of ideas. Here are the key criteria to consider in your research:

1. The reputation of the source

Consider the background of the company offering trading signals. Check reviews and customer feedback to make sure it really delivers on its promises. Anyone can advertise accurate Forex signals. 

2. Manual and automatic

The most reputable sources use both fundamental factors and technical analysis to generate their signals. They have a comprehensive view of the market, so their suggestions are more reliable.

3. Free or paid

Not all free signals are bad by default. However, they are usually limited, as providers use them to advertise paid packages. Again, look at the background of the company to understand if its signals are worth trusting.

4. Range of instruments

Some providers are focused on Forex, so they will not supply you with hints for CFDs. Make sure the signals are relevant for the assets you are interested in. 

Free Forex Signals Vs. Paid Signals

Who wouldn’t like to get accurate Forex signals for free? Few companies share their insights free of charge — after all, their advice can help you make real money. In many cases, there is a free plan and a premium package.

FAQ 

– How to get accurate forex signals?

The accuracy of trading ideas varies dramatically. Primarily, it depends on the experience and reputation of the provider. Hence, use signals from trusted sources only. To check the accuracy, you may compare customer feedback on sites like Trustpilot. 

– How to read forex signals?

Every Forex signal contains the details you need to open and close a position. Typically, the structure includes the instrument, buy and sell levels, Stop Loss and Take Profit, as well as a review of the reasons. You can copy the figures into your trading terminal. Use signals along with insights from our recommended TOP YouTube channels.

– Where to buy trustworthy forex signals?

Indonesian traders often use paid signals for smart financial traffic. Our rating of trusted providers will help you find a reliable source. Trading signals are sold on countless websites, as Forex is a gigantic industry. Do not take any marketing claims at face value. We have researched the background, past performance, and reputation of every provider in our top 10.  

– Can forex signals make you rich?

Even the most accurate forex signals can improve your trading performance, but they do not guarantee results. Forex is a financial market driven by a plethora of factors, both political and economic. Even the best forex signals cannot account for force majeure events. They represent analysis conducted by reliable algorithms and professional traders, but it is up to you to implement these insights properly.

Conclusion 

Paid or free trading signals pinpoint opportunities for profit in financial markets. They are based on state-of-the-art algorithms and the experience of renowned experts.  Tips from reputable sources will help you improve performance in any trading terminal, but remember to check your sources. Forex signals are trading alerts suitable for all investors. Protect your trading account against excessive loss and leverage the power of algorithms to increase profit. Today, it is possible to find accurate signals that are also free!