There are many benefits of forex trading. For one, it is an activity that anyone with a bit of know-how and drive can do from the comfort of home. What’s more, the market is vibrant; global currencies are always changing, and these fluctuations can sometimes tell both a national and global story.
But what some people are not prepared for is the sheer loneliness of the work. This afflicts all freelancing sorts in one way or another, but forex trading, with its constant monitoring of graphs and charts, its obsession with numbers and values, is especially sterile. But it doesn’t have to be – there are many others out there trading foreign currencies.
This scattered community is exactly what ForexSignals taps into. Boasting more than 40,000 active members, this is the place where forex trading enthusiasts come together and grow stronger. Like other social networking software that focuses on investments, ForexSignals gathers, but is careful not to exploit, the likeminded.
Started back in 2012 by forex guru Nick McDonald, it’s since become the hub of choice for those active in the trade. Though based in the UK, ForexSignals is hardly exclusive; those from all over the world, and from all walks of life are welcome – for ForexSignals is really a glorified chat room.
Sounds simple, right? Or even maybe a bit outdated. A chat room?, you may say. But ForexSignals is much more. ForexSignals is a full-fledged community, brimming with educational tools and sporting connections to exceptionally qualified mentors.
Forex trading, while not an odd business, is on the rather obscure side; one has to be a little different, even special, to participate in its waters. And this makes getting into the scene initially a bit daunting.
But ForexSignals gets one immediately up to speed. With a mixed bag of newbie and veteran users, you will come across all sorts of interesting discourses and conversations in the ForexSignals chat rooms. Additionally, a subscription to ForexSignals grants one access to the advice of genuine professionals with the resumes to prove it.
Forex Signals – a powerful suite of tools for forex trading – invaluable perhaps, as Modest Money’s review of ForexSignals states. Any trader, rather novice or grizzled vet, will find something practically useful amid this bustling community.
Let’s take a look at ForexSignal’s notable features.
Main Features of ForexSignals
- Social Media Network: paying customers gain access to a social media network designed for people serious about forex trading, or even those on the hunt for a lucrative side hustle. Being heavily moderated, ForexSignal’s social network excludes any pesky trolls – chat and learn from only those who are serious about forex trading. With more than 40,000 members, and many of those highly active, you will truly feel part of a bona fide, living inner-circle.
- Pedagogy: there is no one size fits all strategy to forex trading, and ForexSignals acknowledges this by offering three “main strategies” which can then be tailored to fit the tastes of individual users. The “Naked Trading Strategy”, “Trend Surfing Strategy”, and “FX Propulsion Strategy” all cover different ways into the forex market and disclose ways to turn profits.
- Live Streams: ForexSignals’ live streams are a great way to keep up-to-date in the ever changing landscape of forex trading. With a rotating cast of forex experts, these live streams will give you valuable insights and takes on how to trade successfully. Not only theoretical in nature, the professionals at ForexSignals take pains to present hands-on, practical knowledge which anyone can take up and immediately put to use.
- Daily Signals: perhaps ForexSignals’ defining feature, this gives you live, instantaneous updates on what the fields’ experts are doing. As a subscriber of ForexSignals, you receive “signals” directly to your email inbox the moment they are published – this allows for a kind of bird’s-eye view of the forex market, and can even extend to the financial market at large.
Drawbacks of ForexSignals
We think that ForexSignals surpasses its competitors, considering the wealth of educational materials and social opportunities placed at the user’s disposal. That being said, it is not without its negatives. Not only is ForexSignals significantly pricey, but their “signals” do not always pay off.
- ForexSignals Pricing: compared to many similar services, ForexSignals’ price line is pretty low. Entry-level membership runs $47/month, and the “apprentice” membership, which unlocks the entirety of the ForexSignals platform, costs $97/month. This is a significant amount of money, but we feel that the insights and knowledge gained from ForexSignals’ brand of “insider access” will far outweigh the costs.
- Defunct Signals: not all signals are insights, nor are they always relevant. That being said, every signal shows signs of the effort behind ForexSignals’ expert advice.
The Bottom Line – Is It Worth the Time?
Unlike a robo-advisor or automated stock picking service, ForexSignals’ game is not passive, hands-off investment. One must commit the time and effort if they are to glean all the benefits of a platform like ForexSignals.
If one has the time to devote to the complex world of forex trading, ForexSignals can be a great educational tool; combined with grassroots intuition and action, there are real profits to be made in these markets.
To boot, the mentors are genuine and completely transparent about their qualifications. Think of ForexSignals as a kind of community college for budding traders.
ForexSignals is a foot in: what happens next is up to you.