Why Forex Signal is Important?

It is a known fact within the forex trading world that only 5% of traders are consistently profitable while the other 95% either lose money or only breaking even after 2-3 years of trading. Due to the increased popularity of retail traders entering this market, there is a huge demand to provide proper forex education so that new participants can make informed trade. One of the best tools that beginning trader can use to enhance their trading decisions is forex signal.

Here are the 3 best places that trader can go to find trustworthy top performing forex signals.

Best place to find top performing forex signal #1: forum

If you go on google and type forex trading + forum, you will find tons of forum out there where traders gather to discuss their latest strategy and ways to place a trade. In most cases, forum is free to use and to ensure you are getting quality forex signals, you need to focus on finding discussion post with high # of users and make sure traders providing signal has a proven record of sound trading advice.

This can be confirmed by either going through past post within the forum or use a demo-account to test the trader’s signal if you don’t want to risk your money to ensure their advice is trustworthy.

Best place to find top performing forex signal #2: Forex Magazine and Periodicals

If you go to your local bookstore, you will find forex/commodity magazine catering to daytraders and flipping through the pages, you will find advertisements of forex signal providers available that you can subscribe to in order to enhance your trading decisions. Of course, before deciding to take the subscription, you must do your research and cross-checked their reliability. Often times, magazine and periodicals are the better place to start finding top performing forex signal providers instead of the internet because chances are if they appear to be scam or fraud, the publisher won’t allow them to ruin their publication by providing bad information to their readers.

Best place to find top performing forex signal #3: Online Forex Brokerage

Forex brokerage is essentially a company that faciliate forex transaction for their client through online trading platform. Often times, these brokerage also offer forex signal services for their client to help their client make profitable trades. These offer usually involves a monthly subscription fee anywhere between $50 and upward. When you subscribe to them, they will send their forex signal in a timely manner through various telecommunication methods such as email, SMS, smartphone, or mobile phone.

Currently, one of the most trusted Forex brokerage, FXCM, is offering free, top performing forex signal services through a division called “zulutrade.” How this works is professional traders who work thru FXCM with proven trade records are enlisted to a database system within zulutrade. Traders can then select which traders they would like to work with and forex signals are sent to the client free of charge. The database system is constantly updated and the signal providers are checked periodically to ensure quality forex signals.