A forex signal is a trade alert for the currency market. Forex signals can be obtained from companies that specialize in this service, and also from a number of brokers who provide them for traders of standard or V.I.P accounts. The price of this service can be anywhere from free if you receive it from your broker, to a daily average of $5-10 and higher depending on the individual or company providing it. There are also some packages that offer long term access for a one time subscription fee. In this case the floor is at around $100-150, reaching up to several hundreds.
Services that you receive upon signing up with a forex signals provider differ from firm to firm. You may expect to receive anything from performance trackers, sms, email, and online alerts, to customer support via email or phone, and advanced analysis in some of the more sophisticated offers. Since signals providers must protect their strategies, trading with them involves some degree of blind trust in the company or individual behind the issued signals.
The credibility of the many choices on the web varies widely, as it is often the case with anything related to the lucrative forex market. It is perhaps a good idea to approach any claims about 80-90 percent success rates with a pinch of salt, in spite of their ubiquity in the world of online trading. But there do exist some firms that provide genuinely valuable information and alerts to clients.
Keep in mind that your ability to successfully exploit received forex signals depends greatly on the efficiency of your broker's service. Especially with forex news based trading, you must act quickly, while being sure that any issues related to misquotes and slippage shall be minimal.
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