Free Forex Signals: Are They Reliable or Not?

Kat Irving
6 Min Read

Forex Signals

Many sites offer them. Here’s where to find free trading signals and how to tell if they are reliable or a scam every trader would like to have safe tips when investing in the financial markets. Finding free and reliable signals is not easy, however, and you cannot expect to receive 100% valid information. If it were possible we would all be rich. However, it is not necessary to go too far to find good sources of forecast, and we will try to help you by telling you which brokers offer trading signal INCLUDED IN YOUR ACCOUNT.

But first you need to make a picture of the situation.

The 3 signal sources

To deal with the question of trading indications, we must firstly say that the sources of operational trading Free Forex Signals are basically of 3 types:

1) Brokers

2) Private sites and software

3) Other traders

We will talk about the advice of other traders at the end of the article. Those proposed by private sites and software, on the other hand, are categorically not recommended.

WHY DO NOT TRUST PRIVATE SITES AND SOFTWARE? Think about it: if you had a reliable and guaranteed recipe for profit, would you waste time putting it up for sale or would you take advantage of it to make YOU big bucks?

In reality these “wizards” only try to trim their paid products. The software in fact cost enough and there is no “satisfied or refunded” guarantee, while the service offered by the sites is almost always by subscription or conditional on the opening of a trading account with dubious brokers. In short, in one way or another, instead of making you earn you want to earn them. And when they are put in the pillory from the web, just change the name of the site or the software and the carousel starts with other chickens to pluck. For heaven’s sake, maybe there are also good services around. But if they are, they cost and so far we have not met anyone who has enriched themselves with these services. Would we have been unlucky?

Because Broker Signals are Preferred

We say it clearly: if you are looking for signals, contact brokers. There is a logical reason: brokers do not earn on our defeats but on our victories. If we win, we continue to trade and therefore their profit – which derives from the volume of our operations – continues to grow. The broker therefore has every interest in providing you with the best possible services, including signals, because if it were not so, in a short time you would tell him bye. Let’s add another thing: you will never see a broker (unlike private sites and software) promise you something like the one we see below. Just talking about “insured earnings” makes we shiver. Stay away from those who offer you magic recipes, because in trading they don’t exist!


This service has been offered for quite some time and is very comprehensive. You can see an example of signals that are provided daily by the XM group broker. As you can see the trading tips are enriched with information. You are told how to act, but often also why you should do it. There are levels of entry, stop loss, exit, supports, resistances and even a comment on different time horizons. In short, it is a complete signal (here you can find the complete PDF) that gives you all the information to decide whether to follow this suggestion or not.


Since mid-2017, a big news has made BD Swiss customers happy, which has in fact introduced a TRADING SIGNALS service reserved for its own customers. Before examining it let’s see how it looks on the platform: Again the service is complete. The asset, the action to be taken, if the signal is active or you have to wait again; the stop loss and take profit levels are indicated. Another service of this type are the FxORO trading signals (here you can find an exhaustive FxORO review). To provide it, it relies on an external supplier, which operates by monitoring the assets and analyzing the performance of the main technical indicators and the various drivers that lead the market to fluctuate. The signals are sent to the customer in various ways, including text messages. This broker also grants an important possibility to its customers, given that you can choose between the FxORO accounts with fixed, variable or ECN spreads.

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Kat Irving is a reporter for Diving Daily. After graduating from NYU with a master degree in history, Kat got an internship at WABC-TV New York and worked on profiling local businesses. Kat was also was a columnist for the NPR. Kat mostly covers business and community events here at Diving Daily