Forex Signals Snapshot
Quality
Delivers on all promises. Positive reviews across the board. One of, if not the, highest quality educational resources for aspiring Forex traders.
Support
Skilled and responsive support team. You can utilize both live chat and email. In addition to support received within the platform by the mentors and professional members.
Cost
Can become costly if you choose the monthly plan. Savings on the annual plan are significant and it's the most cost efficient option.
Forex Signals Overview
In short, Forex Signals is a trading community and service offering a range of courses, support, live streams, trading strategies, indicators, EAs and expert analysis with focus on Forex but attention is given to other markets and trading instruments as well.
Forex Signals is a rare gem in the wide array of overpriced trading services which overpromise and underdeliver. In existence since 2012, over 83,000 members and all the positive reviews and trust scores across Trustpilot and Forex Peace Army speak for themselves. I’m therefore quite excited to review a service I sincerely believe is worth way more than what they’re charging.
In the below article, I will share my experience with the platform and break down all the pros and cons. I will give you an overview of what is inside the members area. In addition to helping you decide if Forex Signals is the right service for you.
Forex Signals Pros & Cons
Pros
Cons
ConClusion
The pros outweigh the cons here. Some of the drawbacks are related to the monthly subscription being quite costly compared to the annual plan. In addition to not having access to all features. My recommendation is to take full advantage of the annual membership option.
Who is Forex Signals For?
Forex Signals is designed primarily for new Forex traders. And although as the name of the service suggests this being a signals service at its core, there is much more to it. The old saying of “teach a man to fish” comes to mind. I would never suggest to follow any signals blindly and Forex Signals does a great job of teaching and explaining the logic behind all trading strategies actively traded by the mentors in the group.
The live sessions, community interaction, regularly published analysis and training provided is really structured in a way to take you from a newbie all the way to being a self-sufficient profitable trader. You’ll be encouraged to tailor your trading approach to fit your personality. And Forex Signals will provide you with all the knowledge and insight you need in order to become an independent trader.
And although the service is aimed at new traders, more experienced and even professional full-time traders benefit tremendously. The quality and comprehensiveness of the ongoing market analysis and live streams is top notch. And in addition to the Forex Signals mentors, there is a high number of very skilled and successful traders in the community, regularly sharing their trades, setups and insights.
The user retention seems to be quite high and I have noticed quite a few active traders in the community, who were brought up by Forex Signals, went through all the training and mentoring and are now profitable traders themselves. Lots of those are very active in the community, providing support, feedback and insights.
Forex Signals Training
As a first step after you join, you’re prompted to the Elite trading series Forex Course. There are five key areas covered, with the aim to explain fundamentals and the core strategies traded in the group:
- 1How to prepare yourself for trading the world's largest market - Forex!
- 2How to think, act and trade like a pro trader and not an amateur.
- 3Understand the Naked Trading Strategy and apply it so you only have to trade for 10 minutes per day.
- 4Master the Fibonacci Counterpunch Strategy and how to build a trader's mindset.
- 5The AP Boss trading strategy and how to apply it to the markets.
There is also a bonus section covering a Forex glossary. Total course duration is 12 hours 50 minutes and it’s very comprehensive.
The Elite trading series Forex Course equips you with everything you need to take full advantage of the Forex Signals service and sets you up for success trading the Forex markets.
In addition, there is a range of modules covering everything from the basics (how to use MT4, how to backtest, Forex fundamentals, etc) all the way to more advanced subjects of technical analysis, indicators, prop trading firms, fundamental analysis, psychology, etc.
Forex Signals Tools
There is a range of tools offered within the platform, to aid you in your trading. These include:
Risk Manager EA
Compatible with both MT4 and MT5, this is currently one of the most flexible risk management tools on the market.
Naked Trading EA
Very useful for semi-automating one of the core trading strategies taught within the platform. Again, compatible with both MT4/MT5.
Momentum Indicator
This MT4/MT5 compatible indicator is based on the FX Propulsion strategy also taught within the platform. It gives you a clear picture of relative strength between currencies.
Pattern Finder EA
A very handy MT4/MT5 EA assisting you with scanning for specific patterns in price action.
Profit Simulator
This is an Excel file for simulating future performance based on metrics obtained by a backtest or prior trading.
Support Resistance EA
This one is only compatible with MT4 for now and aids you in your trading by automatically identifying support and resistance levels on your charts.
Forex Signals Trading Strategies
New traders are encouraged to learn two basic strategies. The Naked Trading Strategy and the FX Propulsion Strategy. Both are profitable and relatively easy to master.
The Naked Trading Strategy
This strategy is based on fundamental price action and key support and resistance levels. It’s a swing trading strategy that only requires analyzing your charts once per day. And as mentioned in the tools section, there is an EA giving you the option to semi-automate this strategy. Meaning you can use the tool to scan markets for potential setups. You still need to enter trades manually, but it will save you a lot of time. This is the strategy for you if you have limited time available for your chart analysis and trading. You literally only need 10 minutes per day. You won’t be entering many trades, but you will be profitable long term without much stress. My recommendation is to do your analysis either following NY close at 5pm EST or before the London session, by 2am EST.
The FX Propulsion strategy
This strategy on the other hand is a day trading strategy which utilizes selected technical indicators in order to predict intra-day moves in the markets. This is the right strategy for you if you’re looking for more action and can put aside at least 2 hours per day to keep an eye on charts.
The Fibonacci Counterpunch Strategy
This is a strategy utilizing advanced concepts of Fibonacci retracements and extensions. It can be applied across timeframes and assets.
The Sling Shot Strategy
This is a day trading strategy with the options to utilize for scalping as well.
The AP Boss Strategy
One of the latest additions to the Forex Signals trading arsenal. It’s slightly more advanced compared to the above strategies and ideally you need to have a higher level of experience to fully grasp this approach. The fact that the introductory module teaching this strategy is 3 hours and 20minutes probably tells you it’s not so basic.
My personal recommendation is to pick one of the above strategies and focus on mastering it until you record a few months of consistent profits. With the exception of the AP Boss Strategy, all can be learned and applied relatively easily by new traders.
Forex Signals Support
First of all, there is a live chat on the main site. The company utilizes Freshdesk Messaging (formerly Freshchat), which is operated by a very responsive support team in the background. Take advantage of this option for any technical questions and/or inquiries regarding your subscription. I have personally used the live chat on multiple occasions and honestly I always got a reply within minutes with the issue usually resolved over one conversation.
Of course you can also reach the support team on their dedicated email support@forexsignals.com.
Secondly, there is an active discussion in the members area. You can post any trading related questions here and you’ll get timely replies either from the mentors or from the experienced traders in the group.
In addition, if you decide to invest in the Forex Signals annual membership, you gain a direct line to the mentors. I encourage you to take advantage of this to really speed up your learning curve.
Forex Signals Mentors
Shain Vernier
Shain is based in the United States. His trading experience is over 10 years. He is present in the Forex Signals trading room as an active trader and How To Trade (HTT) Mentor. He has a degree from University of Montana, Business Finance (2002). His trading style is hybrid, using a combination of technical and fundamental analysis.
Max Norbury
Max is based in the United Kingdom, covering the London session. He has been trading for over 10 years. He is an expert in Equilibrium theory, Market state-structure, Inter-market correlation, Multi-asset class portfolio management, Macro and Global economy.
Scott Greer
Scott is trading out of the United States and his trading career spans in excess of 15 years. He has extensive knowledge in the Equities, Options, Futures and Forex markets. His simplified teaching approach makes learning fun and speeds up the learning curve. Scott has personally mentored thousands of students over the last 10 years.
Nick Quinn
Nick has been trading since 2008. He has traded most asset classes - equities, fixed income and commodities. However, his preference has always been spot market foreign exchange. His style is big picture macro position trading in CFD's and currency futures contracts.
Forex Signals Price
Before you commit to a paid membership, you can take full advantage of a free 7-day trial. After your test-drive, if you choose Forex Signals is a right fit for you, there are three membership levels to choose from.
The currency does change based on your IP location, so your fees & pricing overview might show EUR or GBP. For the sake of clarity, all prices quoted in my review here are USD.
Monthly option (The Apprentice)
The monthly option is the most expensive, at $116/month. You pay month-on-month and get access to everything with the exception of the exclusive brokerage access, direction from mentors and direct line to mentors.
Half year option (The Committed)
You can pay for a 6-month room access. This breaks down to $74/month ($444 billed every 6 months), which is a significant saving compared to the monthly option. You get full access with the exception of the direct line to mentors.
Annual option (The Professional)
This is the recommended membership option. You get access to everything and the monthly cost is $52/month ($624 billed every 12-months).
At the time of writing, Forex Signals is running a 50% off promotion for all options. When I enquired about this, there was no decision made as to the duration of promotion and if it will ever repeat in the future. If you see a discount active, I encourage you to grab it as it might disappear and never repeat.
Forex Signals Reviews
My experience with Forex Signals is positive. But how about other traders? What are they saying? I encourage you to do your own due diligence. But that said, let’s take a look at Trustpilot and Forex Peace Army as the go-to resources for quality assurance.
ForexSignals.com has an Excellent rating on Trustpilot, with over 1,700 reviews! And on Forex Peace Army, the service has an average rating of 4.5/5 with 163 reviews and over 4,400 votes.
My Final Opinion of Forex Signals
As is probably clear from my Forex Signals review, I highly recommend this service. You will find tremendous value here if you’re starting out with Forex trading. But you’ll also benefit greatly if you’re more experienced. The on-going analysis and interaction with other professional traders should not be underestimated. And if you’re a pro and prove yourself in the community, there is the option for you to become a paid Forex Signals mentor.
Forex Signals Snapshot
Quality
Delivers on all promises. Positive reviews across the board. One of, if not the, highest quality educational resources for aspiring Forex traders.
Support
Skilled and responsive support team. You can utilize both live chat and email. In addition to support received within the platform by the mentors and professional members.
Cost
Can become costly if you choose the monthly plan. Savings on the annual plan are significant and it's the most cost efficient option.
I’ve always been curious about all the various ways to make money besides a traditional nine to five job. However, I was always a little skeptical about trading, after hearing so many different horror stories of how people lost money doing it. This course, though, seems like it was actually made to help people succeed at trading, which we could use more of.
Hi Riak,
Thank you for your comment! Trading is a business and like in any other business…there are those who succeed and those who don’t. Forex Signals is an amazing platform for new traders, because you get a clear roadmap and also access to professional traders to help you along the way 🙂
Looking at your review on Forex Signals it looks perfect for beginners who need to learn more about trading, although if one doesn’t have money to invest then I am sure there are cheaper options out there.
What attracts me most is the risk management tool, as I am a nervous trader and looking at the risks before investing is a less riskier method of doing things in my eyes.
Hi Michel, thank you for your comment!
Regarding cheaper options…I listed some free resources in my post here 😉
And yes, the risk management tool is very handy 🙂
Hi Ronny
I actually have a friend who joined Forex Signals and he swears by this program. Although he is a beginner and is half way through a yearly membership. He has gained so much knowledge, well far more than he knew before! I personally use FXStreet Premium but I have been considering switching my membership to Forex Signals. Which is why I am here! I thoroughly enjoyed your review. No doubt I will make my mind up in the near future. Fantastic read, thank you kindly Ronny.
Shelley
Hi Shelley, thank you so much for your kind words!
Glad to hear your friend is enjoying his experience with Forex Signals. Honestly, their reviews are great wherever you look 🙂 If you would have any questions to make up your mind whether to join or not, feel free to reach out 😉
Hie Ronny. I did not know about forex signals. What a way to make extra money in your pockets. Forex Signals is a trading community and service offering a range of courses,what i like about this definition it tells us that you do not need to go at it alone. You just reminded me of the song by late late Micheal Jackson called you are not alone.
Sometimes people should know that they are not alone. The fact that Forex signals has been there since 2012 say a lot about how they have changed lives for the better. This is evidence that it is never too late.
Hey Dominic, thank you for your comment! I agree completely…the community aspect if very valuable. It’s such a positive influence on your trading if you can discuss setups and review trades with other traders. And at Forex Signals, it truly feels like a mastermind group because there are so many professional traders active in the community. The company has done an amazing job creating this platform 🙂
Forex trading can be a very complex field and many investors would not try it because they regard forex trading as being too difficult for most to learn. So to find a course like Forex Signals, that will teach you the fundamentals and core strategies, is very helpful.
Having ongoing support and access to the live chat, will certainly help beginners and more advanced traders. If I understand correctly one only has access to the mentors if you take out an annual membership? Or do you also have access to the mentors on the 6-month plan? Thank you.
Hi Line, thanks for your comment!
Definitely agree on the value of this service especially for new traders. And yes, the live chat and support aspects are very helpful. The whole community they built is such a great resource to tap into and engage with other traders within the platform.
Regarding the access to mentors…on the annual plan, you have access to a “direct line to mentors”. What this means in practice is that you get a priority pass with any questions and/or queries and you can expect a response very fast. But you will still get mentor access on the other plans as well 😉
For a beginner, Forex Signals sounds like the best option to learn how to trade efficiently, and indeed, the yearly plan sounds like the best option. But the number of mentors is incredibly low for the number of active members. They should definitely try adding more mentors.
I would go for Forex Signals immediately when I have enough for the yearly subscription.
Hi Valentin, thank you for your comment!
I do agree regarding mentors, although to be fair it’s more about quality over quantity. And the current mentors are amazing traders and very active and helpful in the community.
Looking forward to having you on board once you save up for the yearly subscription 😉
As a beginner I think for myself I would like as much information on trading as possible to minimise any loss. Having the Forex Signals available is really great for newbies like me and will help me understand more of what’s a good trade or not. I’m also glad that there is a free trial available and that you have displayed the pros and cons in a very concise way. Thank you for the review on this trading site as it helps to know that they are trustworthy and deliver on their promises.
Thank you, Ruth! Really glad you found my review valuable. Forex Signals is definitely a great resource, especially for new traders who need some guidance and mentoring. And the free trial is a no brainer in my opinion…you can test drive the platform and decide if it’s a good fit for you 🙂
Hi Ronny,
This is a brilliant review that you have put for Forex Signal.
It is a top-notch, highly active platform completely legit for trading knowledge for success. It is for beginners as well as for pros. The platform has a high review score and successful money-making reviews.
The cost can be attractive if you are a yearly member, monthly membership could be high comparatively.
The opportunity for a free 1-week long trial before you commit to paying members is an awesome advantage.
If this is your interest, you could start as early as you can check out and compare what is available elsewhere and the pricing scenarios.
If you do well, you can be paid mentor! What is more rewarding than that.
What are the personal identification requirements for the platform and how do they pay you? I am not sure if I have skipped it during my reading or not there. I am seriously considering taking a look around and starting the trial as soon as possible.
Hi Anusuya, thank you for your kind words!
I’m not sure I fully understand your question. Are you asking what personal details you need to provide for registration and what payment options you have?
Upon registering, you need to enter your full name, email and phone number. During the trial, you also choose the preferred membership that will go into effect after the 7-day trial ends, unless you cancel. You also enter your payment details during registration and can use either PayPal or Credit Card.
Once you’re registered, you can customize you personal profile in the members area.
I hope this answers your question. If not, let me know 😉
Forex trading is the same as the stock market?
Do forex trading and the stock market make the same money or which one makes more?
Can it be another income stream?
I learned something new from reading this post. I never understood what forex trading was until I looked it up. It makes a lot of sense now and I am honestly interested in it. I didn’t know it was about stocks around the globe and people being able to invest in them to see what other people are doing in other countries and how we can profit from them.
Forex trading is new to me and everything and I would like to learn more about it. It has something to do with stocks and I only heard of big gains and losses within the stock market. A scarier game to gamble but this is a safer way to gamble because not only do you lose everything at least you get to keep a little bit of the profits.
This program seems very promising in helping beginners in the forex trading world. Thank you for the details, also the pros and cons to it as well. As long as there are mentors there to help you to coach you one-on-one then that would be great for me. I am a slow learner so it would take a while for me to get there like everyone else!
A great informative article it covered everything you needed to know, and it sure did for me! The pros and cons really made me my choices, I was pleased to see about the mentors and them helping you to every inch in the journey ahead of you. I am going to bookmark this website because I would lose the memory of the program called and don’t want to lose it!
Hi Caleb, thank you for your comprehensive comment! Forex trading actually has some great advantages over the stock market and I provided an overview in my post here.
Regarding Forex Signals service…yes, definitely a great resource for beginning traders. If you go through the training, learn the provided strategies, take advantage of the mentoring and group interactions…you will succeed 😉
This is a really great post. Because I am very interested in forex. Also this forex signal tool is very valuable. Because this one has a lot of real horns. Because of things like profit simulator we can get trade profit very easily. I agree with you .It’s very beneficial to have an annual plan. Thanks so much for this post. I will definitely share this.
Hi Pasindu, thank you for your kind words! And yes, the annual plan is definitely worthwhile, providing the most value for money 🙂