Editor’s Verdict
Overview
Review
Headquarters | United Kingdom |
|---|---|
Year Established | 2011 |
Run by a team of professional traders, ForexSignalz consistently delivers Forex SMS signals on a variety of currency pairs.
With the understanding that viewing a service’s ratings is essential for anyone interested in a Forex signal service and to ensure that traders are entirely comfortable when choosing a Forex signals provider, ForexSignalz lists its monthly ratings prominently on its website. And its performance speaks for itself.
ForexSignalz keeps its signals clear and easy to understand, because they understand that time is often of the essence in profitable trading and profiting is the primary goal of any signal service. They keep their signals as short as possible.
ForexSignalz Performance as featured in ForexSignalz.com
Currently, ForexSignalz offers you the opportunity to test out its Forex trading signals for as low as $1 for 14 days.
ForexSignalz gives conservative signals. They aim to end every month in profit and generally, approximately 65% of their trades are winning trades. They work in a manner that helps newer traders and nervous traders feel more comfortable with their service, because they do not expect them to be patient or to sit through big losing streaks. ForexSignalz admits that this comes at the expense of maximizing profit but capital protection is paramount.
Forex Signals
Sample of SMS signal alert by ForexSignalz.com |
Each Forex trading signal is defined as a directional trade in one currency pair, but there may be several trades within the one. For example, if the price is at 101 they may indicate buying at 100 and at 99 and then after that buy again at 102. It’s really all one trade, just divided up into pieces.
The Forex signals given by ForexSignalz are derived primarily from high-probability events such as buying pull backs within major trends or trading shortly after an important news release that has caused a directional move in the market. These are both time-tested methodologies that require skill and experience to execute but generate solid entry points.
ForexSignalz makes no guarantee as to the minimum amount of signals they will send. It depends on whether or not the required conservative set-ups arrive. If not, they will not send out inferior signals just to make up a gap in the action. On average, they give about 2 signals per week, but there can be periods of 2 or even 3 weeks during which there are no signals at all.
Forex signals are sent out by both SMS and email. Most signals are sent at around Midnight GMT and during London business hours. However signals may be given at any time of the day or night. ForexSignalz may cancel signals before entry is triggered when market conditions change or there is no momentum in the required direction, so users need to stay tuned.
User Participation
ForexSignalz does not offer trade copying as the signals are given for educational purposes and not as investment advice. Users that choose to use the signals in their own Forex trading accounts therefore have to enter and exit trades manually themselves.
ForexSignalz sometimes sends a signal detailing buying or selling a currency pair at a particular price differing from the current market price. These may be Limit Orders (where the entry price is better than the market price) or Stop Orders (where the entry price is worse than the market price), but this distinction is not mentioned in the SMS.
Some signals will detail buying or selling immediately at the market price. In a very fast-moving market, the message may include a maximum price beyond which an entry is no longer practical. When a trade has been entered, traders receive a message with the stop loss and take profit targets. As market conditions change, it sometimes becomes necessary to alter either or both levels. In addition, open trades may need to be closed fully or partially post haste and traders will be notified of this action. Cancellation messages will be sent as market conditions change.
The Traders
The ForexSignalz team is led by Adam Lemon, a Forex trader with over twelve years of financial experience including 6 years at Merrill Lynch. Adam is certified in Fund Management and Investment Management from the U.K. Chartered Institute for Securities and Investment, and he currently serves as the Chief Instructor at FXAcademy.com, a leading website providing a comprehensive Forex trading education. Adam’s certifications are not given as a claim to provide any investment advice, licensed or otherwise.
All in all, Forexsignalz seem truly committed to providing profitable, educational signals with a high win rate, in a timely and easy-to-understand way.
