Lately, more and more traders have started to show interest in trading signals. In this article we are going to discuss different types of such signals and give you an overview of the companies that provide them (the so-called ‘providers’). We will give you the most objective evaluations of each type of trading signals, based on many years of our own experience, as well as the experience of some successful traders.

What are trading signals?

Lots of traders in financial markets dream of creating a system, or even a robot for trading, which will process a great variety of factors that influence the potential behavior of the asset price. The main reasoning behind the creation of such system is to automatize the trading process, or, in other words, to make the system work on its own.

Automatized trading will leave the trader with a more free time that she can spend travelling, doing sports, and spending more time with the family and the loved ones. Sounds good, doesn’t it? Unfortunately, this, at least for now, is nothing but a dream. Let’s have a look.

It may look too simple to be worth a mention, but still, never fall for the ‘magical’ automatized trading signal systems which promise you a steady income. Unfortunately, such irresponsible promises are the reason why lots of traders are really sceptical about the credibility of trading signals. Let’s be sensible – if trading signals are indeed such a great tool, why would anyone share them with the whole world? Clearly, the more people use one and the same strategy, the less effective it is going to be. However, if we ‘filter out’ all irresponsible providers and focus on the ones who really offer signals of value, we will be left with only a few names.

Best trading signals: whom should I trust?

Below are the most popular providers of trading signals, all developed by leading brokers:

Olymp Trade signals: being one of the leading BO brokers, 24Option offers free trading signals to all of their clients. Having conducted a number of tests, we have to say that the signals are not bad indeed, and were on average successful in three cases out of four. The company has been on the market for a long time and is constantly working on improving their platform, which, at the moment, can be considered to be one of the best ones in the industry. They also invest a lot of time into developing the quality of their trading signals to ensure their continued market leadership. In order to start using the signals you need to open an account with the company and add a minimum deposit.

IQ Broker signals, in turn, are a more recent product. This means that their algorithm is less commonly used, which, of course, works great for those traders that do use them. In order to access the signals, all that you need is to open an account with the broker.

We are often asked which free trading signals are worth your attention. Well, we hope that each trader understands that the quality of most of such services is far from being high. One always receives their money’s worth of quality. At the same time, even free signals can be useful as an additional trading tool if they are made using the basic principles of technical analysis and taking into account the economic logic behind the movement in market prices.