Live Forex signals are orders for opening/closing trades that are copied to your brokerage account automatically from another trader’s account. You get them in real-time. With their help, any trader can use the strategy of a more professional investor. Forex signals differ from trading robots primarily in that the decision to enter and exit the market is made by the person, not the machine. The advantages of such a system in front of advisers are obvious: the robot cannot analyze fundamental factors and relies only on technical analysis. Experienced traders often combine both approaches. FinanceWorld experts are sure that the benefits of live Forex signals online are evident.
Paid Forex Signals VS Free Forex Signals
Today, you can find both paid and free live Forex signals on the Internet. Moreover, both those and others can vary greatly in quality. The profit you can make using live Forex signals often does not depend on the price of the signal. Both on paid and free platforms you can find strategies of good and bad quality. The best signals are those that are most stable, so when choosing which of them to follow, pay attention to the duration of the strategy, the level of volatility, and the degree of risk. There are three main models of platforms that offer these services:
- Subscription signals (in this case, both followers and strategy vendors pay a fixed monthly fee to use the platform, plus followers pay a monthly subscription to the signal, regardless of whether the strategy is profitable);
- Free live Forex signals tied to a specific broker;
- Free Forex signals that are not tied to a broker (the service makes a profit by returning part of broker spreads from partner brokers —the principle of cooperation is similar to standard affiliate programs).
At first glance, it is more profitable for an experienced trader to offer their services through a monthly subscription to paid signals and receive a fixed amount for this, but in practice, it is a bit different.
- Firstly, many experienced traders try themselves in the role of providers of Forex signals online rather out of curiosity and are not willing to pay for registration. Later, when they find enough followers, it’s more profitable for them to stay on free platforms.
- Secondly, not all followers are willing to pay for live Forex signals and therefore there are often many more potential followers on free platforms than paid ones — users do not want to share part of the profits and prefer these signals online for free. As a result, the provider of the best signals can quickly build up a circle of followers and get more revenue than by subscription. However, the latter depends on the model of cooperation that the platform offers to suppliers of trading signals.
Forex trading requires precise entries and exits for every trade transaction. Today there are already many analytical informers, programs, and online platforms for a thorough analysis of various patterns, with an assessment of signal strength and statistical probabilities of signal processing.
Earnings using signals
After registration, you will be available to many tools for analyzing the market, as well as, signal quality analysis, time symmetry, clarity, and coefficient symmetry. When choosing the best signals, the number of profitable transactions may exceed 90%, and if management is properly followed, these signals will be able to withdraw a trading deposit to a significant plus in weeks. After training and getting little experience, any beginning trader will be able to earn good money.
