Is there any true Forex signal provider out there?

There are a lot of Forex signal providers in the market. You would need to check for the performances of the traders so that you can choose a fair and reliable trader for better profits.

 I will start a forex signal myself to understand what’s going on in this segment of forex trading. Here’s what I’ve learned running a signal service recently.

1. Whatever signal service you find needs to be automated. Receiving text alerts to new trades, tweets, email, etc. just isn’t scaleable. You want someone trading for you, not someone sending you trade parameters so you can enter them manually.
   
   How are you going to place trades in the middle of the night when you’re sleeping? What about while at work, at dinner with your family, etc.? If it’s not automated it’s just not going to work for your lifestyle.
2. Stay away from independent providers. This generally means standalone websites that claim to send forex signals.
   
   One reason to stay away from these guys is they generally aren’t automated (see my first point). They don’t have the technology to automatically place trades for you.
   
   The perhaps larger reason to stay away form independent providers is that they’re almost impossible to verify their reputation. Fake testimonials on their website hopefully don’t fool you, so unless you know someone you trust that has been using an independent signal provider (with success) for a long time, don’t trust them.
3. It’s easy to cheat.
   
   I personally don’t know how, but there are several ways to fake your forex trading stats. Here’s one of the top signals on SignalStart right now:

See anything fishy? A massive 2,500% return with zero drawdown? Please believe me when I tell you that’s not possible. Anyone signing up for this system is kissing their money goodbye to a scam.

Sadly, SignalStart is polluted with providers like these. You’d think a reputable site would do more to weed these sorts of offerings out. Instead, it buries any good signals, making it almost impossible to find something worth subscribing to.

Is it possible to find a signal service that does work and is reputable? Yes.

My advice is to actually sift through SignalStart and MQL5.com. In fact, I’d likely start with MQL5 because it at least has a review section where current subscribers are able to review the signal service.

Still, it’s tough evaluating these signals. So if you want to shoot me a message with a few you’re looking at I’m happy to give you my input.