Best Forex Signals UK in 2020

Forex signals are becoming more and more popular in the online trading space. After all, they allow you to place buy and sell orders without needing to perform any independent research.  Instead, a trading suggestion will be sent to you in real-time containing the required entry and exit prices.

This is ideal if you have little to no experience of trading currencies, or you simply don’t have the time.  Although at first glance forex trading signals might sound like that Secret Sauce you have been waiting for, it is important to note that most providers active in the space are nothing more than a scam. As such, you need to tread with extreme caution.

In this guide, we explore the best forex signals in the UK. On top of discussing the best providers in 2020, we also give you some tips on what to look out for before parting with your money.

Top 5 Forex Signals in the UK

You can read all about the best forex signals providers further down this guide, but if you’re just looking for a quick summary, check out the list below.

  1. Learn 2 Trade – Best All Round Forex Signals 2020
  2. Direct Forex Signals – 89% Claimed Success Rate
  3. Daily Forex Signals – Excellent Forex Signals App
  4. FXPremiere – Signals From Over 50 Sources
  5. ForexSignals.com – Live 24/7 Chat Room

What are Forex Signals?

Forex signals are trading ‘suggestions’ that will be sent to your phone or email address in real-time. The signal will contain a range of information that will allow you to act on the suggestion at the click of a button. For example, the signal might tell you to buy GBP/USD when the price hits 1.2778, or sell EUR/USD if a key support level of 1.1400 is broken.

Additionally, the best forex signal providers will send you the required stop-loss and take-profit prices. This will ensure that you are able to act on the forex signal in a risk-averse manner. In terms of how the forex signal provider gets hold of its information, this typically comes in one of two forms.

  • The provider might be an experienced human forex trader that performs manual research.
  • The provider will utilize automated systems that are based on cutting-edge technologies like AI and machine learning. The algorithm will scan the markets and look for trading opportunities in an autonomous manner.

Either way, when the provider discovers a potential trading opportunity, the signal will be sent out to all members of the subscription service. In the vast majority of cases, you will need to pay a monthly fee to obtain the signal. The best providers also offer a ‘social community’ feel to forex signals, insofar that you can discuss trading ideas with your fellow members.

Best Forex Signals 2020

Forex signals allow you to access the global forex markets with ease. There is no requirement to have an understanding of technical analysis, nor do you need to spend countless hours reading and analyzing charts. Instead, once the signal is sent to you and you act on it, there is nothing more to do.

But, the key challenge here is finding a legitimate forex signal provider, not least because most are unable to meet the bold ‘win rate’ claims that they make. With this in mind, below you will find a selection of the best UK forex signal providers currently active in the space.

1. Learn 2 Trade – Best All-Round UK Forex Signals 2020

Learn 2 Trade

Learn 2 Trade has been active in the UK forex scene for several years. It offers a highly comprehensive educational platform – with heaps of forex guides, courses, and explainers. Its team of expert currency traders have since moved into the forex signal scene – with results consistently outperforming the wider market.

At the forefront of this is the underlying technology. That is to say, Learn 2 Trade has been an algorithm from the ground up that has the capacity to scan the forex markets on a 24/7 basis. It combines the technical advancements of AI and machine learning – alongside dozens of technical indicator. The algorithm scans dozens of major, minor, and exotic currency pairs – constantly looking for breakouts.

Learn 2 Trade forex signals

If and when the Learn 2 Trade technology identifies an opportunity, it will send a forex signal directly to its membership base. The platform recently made the transition to Telegram as this allows users to receive trading suggestions in real-time. This also allows members to discuss trading opportunities – as well as the signals themselves. What we like about Learn 2 Trade is that it is one of the few UK forex signal providers to offer a legitimate free service.

Learn 2 Trade telegram group

This offers 3 signals per week – and no data points are blacked out. As such, you will receive the required entry point, stop-loss and take-profit prices, and the reason behind the signal. If you are satisfied with the free signal service, you can upgrade to the premium plan from less than £15 per month. This will increase the number of suggestions to 3-5 signals per day (Monday to Friday). Best of all, the premium plan comes with a 30-day money-back guarantee, which is crucial.

Learn 2 Trade forex signals

Alternatively, the team at Learn 2 Trade will give you free access to the premium plan for 12 months when you open a brokerage account with one of its partnered platforms. Additionally, we should also note that the premium plans come with full access to close signal performance reports. In the near future, the plan will also include real-time alerts on key economic events.

Premium Plan Subscription  Effective Price Per Month
1 Month @ £25 £25
3 Months @ £55 £18.33
6 Months @ £85 £14.16

 

Pros:

  • 3 x free forex signals per week
  • The premium plan offers 3-5 forex signals per day
  • 30-day money-back guarantee
  • The underlying technology scans the forex markets 24/7
  • Receive signals in real-time via Telegram
  • Trade forex without needing to perform any research
  • Great reputation in the UK forex signal space

Cons:

  • You will need to act on the forex signal as soon as it arrives to ensure you do not miss the opportunity

There are no guarantees that you will make money with this forex signal provider

2. Direct Forex Signals – Claimed Signal Success Rate of 89% 

Direct Forex Signals

Direct Forex Signals is an established UK-based signal provider. The platform is home to over 12,200+ active members, which is testament to the provider’s reputation in the online signal space. Even more impressively, our Direct Forex Signals review found that this provider claims to have a signal success rate of 89%.

Although at first glance these claims might sound somewhat ambitious, the provider is so confident in what it offers that it has a 30-day money-back guarantee in place. Crucially, this allows you to test the forex trading signals out via a brokerage demo account without risking your own funds. Then, if you find that the signal service does not meet your expectations, you can simply ask Direct Forex Signals for a no-questions-asked refund.

In terms of how the signals are sent, the provider offers a mobile application. As and when a trading opportunity is discovered, you will receive a notification on the mobile app. You can also opt to receive your signals via email. When it comes to pricing, Direct Forex Signals offers three different packages. If you want to sign up on a month-by-month basis, this will cost you £25 per month. If you want to benefit from a more favourable monthly price, it might be worth considering a 3 or 6-month plan.

At £55 and £85, this works out at just over £14 and £18 per month, respectively. Across all three plans, you will receive an impressive 15 signals per day. This ensures that you never miss a trading opportunity. It takes just 30 seconds to sign up and choose a plan, and you do not need to have any prior trading experience to benefit from the provider’s suggestions. In terms of customer support, Direct Forex Signals offer 1-1 live messaging.

Pros:

  • Claimed win rate of 89%
  • Dedicated mobile app
  • Well-established in the forex signal scene
  • 1-1 support via messenger
  • Multiple plans to choose from
  • 30-day money-back guarantee

Cons:

  • Somewhat hyperbole with its claims

There are no guarantees that you will make money with this forex signal provider

3. Daily Forex Signals – Receive Signals via a Mobile App

Daily Forex Signal

Daily Forex Signals offers its signal service via a native mobile application. The provider offers several forex signals throughout the day, and everything is based on the technicals. That is to say, Daily Forex Signals will research charts on your behalf, and let you know when a potential money-making opportunity is in the making.

One of the most utilized indicators that the provider focuses on is the daily pivot breakout. Once the mobile app sends out a notification to your phone, you will be given all of the required information to act on the suggestion. Of course, this includes the respective currency pair, entry price, and stop-loss price. Crucially, Daily Forex Signals offers multiple take-profit prices. We like this, as it allows you to set your own risk vs reward ratio.

For example, if you want to take a conservative approach to forex signals, you can opt for the smaller profit target. On the other hand, if you are confident on the trading suggestion you might opt for the higher target. In terms of trading results, the team at Daily Forex Signals notes that it aims to make a minimum of 100 pips per month.

With this in mind, the amount that you can make in pounds and pence will ultimately depend on your stakes. Finally, it is worth mentioning that Daily Forex Signals advises all of its subscribers to regularly check fundamental news. This is because its technical indicators will not be aware of key market developments that can impact the value of a currency. Instead – the technology exclusively studies the technicals.

Pros:

  • Receive forex signals via a mobile app
  • Focuses on technical indicators like the daily pivot breakpoint
  • Targets 100+ pips per month
  • Multiple take-profit targets

Cons:

  • You will need to be aware of fundamental analysis

There are no guarantees that you will make money with this forex signal provider

4. FXPremiere – Receive Signals From 50+ Sources 

FXPremier

FX Premier is an interesting forex signal provider to consider, not least because it gives you access to multiple platforms via a single hub. More specifically, by signing up to the platform you are essentially joining 50+ signal providers. As a result, you will be accustomed to up to 15 signals each and every day.

This particular option is good if you are unable to choose a single provider that meets your needs. The signals at FXPremiere each come with entry, exit, and stop-loss levels. Some signals will come with up to 3 take-profit targets, which allows you to choose one that meets your appetite for risk. You can elect to receive the forex signals via Telegram or WhatsApp.

Either way, you will receive them in real-time as soon as the respective provider distributes them. FXPremiere offers 24/7 support, alongside handy money and risk management tips. The provider is also cost-effective. Its basic package will cost you just $37 per month, which you cancel at any time.

If you want to benefit from a lower price, a 4-month package costs $97, while an annual package costs $199. By signing up to the yearly plan, this will ensure that you receive a minimum of 8 signals per day. Paying for your subscription is also straight forward, as FXPremiere accepts debit/credit cards, Paypal, and both Google/Apple Pay.

Pros:

  • Plans start from just $37
  • Receive signals from 50+ providers
  • Signals sent via Telegram or WhatsApp
  • All entry, exit, and stop-loss levels provided
  • Up to 3 take-profit targets

Cons:

  • Refund policy is somewhat complex

There are no guarantees that you will make money with this forex signal provider

5. ForexSignals.com – Best Forex Signals Platform to Learn Technical Analysis

ForexSignals.com

ForexSignals.com offers one of the most comprehensive forex signal services in the space. It is highly established and now boasts a loyal following with traders of all skill levels. In particular, the platform is super-popular with newbies. This is because ForexSignals.com takes a slightly different approach to the other providers on our list.

That is to say, the provider aims to teach you everything you need to know so that one day – you won’t need to rely on forex signals. As such, you will be accustomed to a full range of educational resources. This includes regularly updated videos, guides, and even webinars. There is a live chat room that functions 24 hours per day. This allows you to discuss trading signals and market insights with your fellow subscribers.

In terms of its signals, you will first need to find which expert traders you wish to follow. Once you do, you will then receive each and every trading idea that the respective expert comes up with. We also like the daily live streams that the platform runs. This is where an in-house trader will discuss current market conditions, and run you through a number of potential trading strategies. This also allows you to ask questions directly to the trader, which again, is perfect for improving your forex trading knowledge.

Customer support is also highly rated, with email replies often coming back within the hour. When it comes to pricing, ForexSignals.com is somewhat expensive. You will pay $97 per month if you want to use the platform on a month-by-month basis. If you are happy to commit to a longer plan, you will pay $297 for 6 months. This will save you $285. The Professional Plan costs $567 for the year, and will save you $597 in comparison to the monthly plan.

Pros:

  • Choose which expert trader you wish to receive signals from
  • Great for learning how to trade
  • Multiple live streams and webinars
  • 24/7 live trading room to discuss ideas and market insights

Cons:

  • Pirces start at $97 per month

There are no guarantees that you will make money with this forex signal provider

How do Forex Signals Work?

Although forex signals are suitable for traders of all skill levels, it is important to understand how the end-to-end process works. After all, you will be risking your own capital upon acting on a suggestion.

Here’s what you need to know.

Automated Technology

Forex signalsFirst and foremost, let us explain how forex signal providers actually get their information. Although a number of platforms rely exclusively on human analysis, the best forex signal providers utilize automated technologies.

That is to say, the provider will create and deploy an algorithm that is able to scan the currency markets 24/7. The underlying technology will be supported by a range of technical indicators that are tasked with analysing historical pricing trends, and how these trends relate to current price action.

To ensure that the algorithm is able to operate in an automated manner, the technology is usually backed by AI. This means that the signal provider is able to find trading opportunities throughout the day and night without human intervention. Then, when the technology spots a potential market-move, it will distribute its findings to subscribers of the signal service.

Signals Sent in Real-Time

The currency trading arena operates 24 hours per day, 7 days per week. Market sentiment can change at the drop of a hat, so acting on forex signals quickly is crucial. As such, the best forex signal providers will send you a notification in real-time as soon as a trading opportunity has been identified.

Top-rated providers such as Learn 2 Trade have opted for Telegram, as this ensures that you receive a notification on your phone. Additionally, Telegram is a great way for signal providers to discuss key ideas with subscribers. It also adds a community feel to the signal service, as you can talk directly with your fellow members.

Alternatively, some forex signal providers in the UK will opt for email. Although this also comes in real-time, it is not as reliable as a Telegram notification. This also removes the ability to discuss important ideas and market insights with other subscribers.

What do Forex Trading Signals Look Like?

In terms of what forex trading signals look like, there is a set of minimum requirements that the provider must meet. Crucially, you must receive both entry and exit order prices – and make sure that this includes stop-loss and take-profit targets.

Below you will find an example of what a forex signal looks like with Learn 2 Trade.

  • Pair: USD/JPY
  • Order: Buy
  • Entry: 106.25
  • Stop-Loss: 105.50
  • Take-Profit: 108.05

As you can see from the above, there are 5 important data points that you have at your disposal. You know the pair that you will be trading alongside whether it’s a buy or sell order. You also know the price at which you should enter the market. Most importantly, you also have a stop-loss and take-profit price.

Once you have acted on the signal, you are not required to do anything else. Instead, your position will be closed automatically when either the take-profit or stop-loss price has been triggered.

How to Pick the Best Forex Signals For You

Make no mistake about it – there are literally hundreds (if not thousands) of forex signal providers active in the space. Most will promote super-bold claims about making you rich, but rarely do these claims ever to come to fruition. This is why you need to be extra vigilant when choosing a forex signal provider.

Crucially, if you decide to use a provider that we have not discussed on this page, be sure to make the following considerations before parting with your money.

Success Win Rate

The first metric that you will likely come across when choosing a forex signal provider is that of its win rate. For those unaware, this refers to the average percentage of signals that have returned a profit. For example, if the win rate is 89%, this means that 89 out of every 100 signals are successful, while 11 are not.

Forex signal win rate

It goes without saying that the higher the win rate, the more successful the forex signal provider is. However, you also need to explore the legitimacy of the platform’s claims.

After all, just because a provider claims to have a win rate of 99%, this doesn’t mean that its claims are truthful. As we cover shortly, this is why you should only use a forex signal service that offers a free trial or money-back guarantee of some sort.

Fees

Although they often say the best things in life are free, this isn’t the case in the world of forex signals. After all, the provider is in the business of making money. Otherwise, they wouldn’t dedicate their time and efforts into building an automated algorithm from the ground up. As such, in order to get the most out of a forex signal provider, you will likely need to sign up for a monthly subscription.

Although it is notable if the provider offers competitive prices, this shouldn’t be your main priority. In other words, it is all good and well finding a forex signal platform that offers its services at just £5 per month, but you need to ask yourself how successful its suggestions are going to be at such a low price. At the other end of the spectrum, although at £100 per month you might view the provider as expensive, if its signals are highly accurate you stand the chance to make much more than this.

With that being said, it is still important that the provider has a clear and transparent pricing structure, and that you have the option of cancelling your membership at any given time. This will ensure that you are not locked into a long-term subscription that you no longer want.

Free Trial or Money-Back Guarantee

As we briefly mentioned earlier, it is crucial that you are somehow able to verify the credibility of the provider’s win rate. The best way to do this is by testing the signals out via a forex broker demo account facility. In doing so, you will not lose any trading capital if it turns out that the provider’s signals are below-par.

However, you might still need to pay a fee to gain access to the forex signals. This is why you are best off using a provider that offers a free trial. Alternatively, if the provider offers a money-back guarantee, this is just as useful. Learn 2 Trade, for example, offers a 30-day ‘no questions asked’ refund policy if you are unhappy with its services.

Time-Zone

Although the currency trading arena operates 24 hours per day, some forex signal providers will only send out suggestions during standard hours. That is to say, if a provider is based in the UK, then you might receive signals between the hours of 8 am and 6 pm local time.

Forex trading hours

However, if you sign up to a provider in the US, this might be problematic. After all, the signals will likely come during US trading hours. As such, you need to check what time the signal provider typically sends it suggestions and thus – whether it is conducive for those of you based in the UK.

Free Forex Signals

As noted earlier, the vast majority of forex signal providers charge for their services. With that said, there are a select number of signal platforms out there that claim to offer free suggestions.

Here’s what you need to know about free trading forex signals in the UK.

Free Forex Signals vs Paid Signals 

We often find that ‘free’ forex signal providers are not really free at all. By this, we mean that you might well receive a signal without needing to pay for it. But, the provider will likely blackout the entry or exit price that you need to act on the suggestion.

For example, you might receive the required stop-loss and take-profit targets, but not the entry price. In order to obtain this information, you will then need to sign up to the provider’s subscription service. If you don’t, the ‘free’ signal is virtually worthless as you need to know what price to execute the order at!

In other cases, the free signal provider might send you all of the required information that you need without blacking anything out. However, rarely are such providers worth considering. After all, why would a forex signal provider invest vast amounts of time into building their product, only to then give it away free of charge?

Best Free Forex Signals

If you are super-keen to find a reliable free signal service, the best option that you have at your disposal is Learn 2 Trade. This is because the provider offers a free signal service that includes 3 suggestions per week. Although this is a bit thin on the ground, the key point here is that the provider does not black any information out.

In other words, you will receive all of the same information as you would in the premium plan. This at the very least allows you to test the provider out before making a financial commitment. Once you are happy with the free signal service, you might then consider upgrading. In doing so, Learn 2 Trade will send you 3-5 signals per day.

Forex Signals Telegram

Although there are multiple channels in which you can receive forex signals, we find that Telegram is most conducive for distributing real-time suggestions. This is because the mobile application will send a notification directly to your phone the very second a signal goes live.

Forex signals Telegram

When it does, you simply need to open the app and review the entry and exit parameters. Furthermore, Telegram also allows you to communicate with your fellow subscribers, so you can discuss key trading ideas and market insights.

You can also contact the customer service department of your respective forex signal provider. Taking all of this into account, this is why Learn 2 Trade offers its forex signals via Telegram.

Best Forex Signals App

Some forex signal providers will offer a dedicated mobile app. If this is the case, then you will likely be able to download it via the Google Play or Apple Stores. In terms of who wins the award for the best forex signals app of 2020, we would need to point you in the direction of Direct Forex Signals.

As we covered in our provider review further up, the Direct Forex Signals app has an excellent reputation in the space. It has a claimed signal success rate of 89% and prices start from just £25 per month.

Conclusion

In summary, forex signals are getting super-popular with investors, not least because they allow you to trade in a passive manner. That is to say, there is no requirement to perform technical analysis. This is something that can take many months to truly master, so you stand the chance of profiting from currency movements overnight.

After all, the best forex signal providers will send you everything you need to act on their trading suggestions. In fact, once an order goes live, you don’t need to do anything else. This is because the position will be closed automatically once the respective stop-loss or take-profit price is triggered.

If you’re keen to get started with a forex signal provider today, it might be worth considering Learn 2 Trade. The established UK signal provider has been active in the space for many years. If you want to try them out before making a longer-term commitment, the platform offers both a free signal service and 30-day money-back guarantee on its premium plan.

You can get started right now by clicking on the link below!

Learn 2 Trade – Best All-Round UK Forex Signals Provider

 

Learn 2 Trade

 

There is no guarantee that you will make money with this provider.

FAQs

Do forex signals work?

Forex trading signals do work, but your chances of making money are entirely down to your chosen provider. In other words, while some providers have an excellent record-record of making consistent gains, others are less successful. This is why you need to spend ample time researching a forex signal provider before parting with your money.

Should I pay for forex signals?

The best forex signal providers active in the space will charge for their services. After all, they wouldn't build an algorithm from the ground-up just to give it away for free! In most cases, you get what you pay for in the forex signal scene.

What is the best forex signal service in the UK?

This is a difficult question to answer. If we forced to choose a single provider, we would have to go with Learn 2 Trade. The UK-based provider has an excellent reputation in the forex signal arena, and you will receiver your suggestions in real-time via Telegram.

What does a forex signal look like?

Forex signals should contain a minimum of 5 data points. This should be the entry price, stop-loss, take-profit, trading pair, and order type.

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Kane Pepi

About Kane Pepi

Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Academically, Kane holds a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and he is currently engaged in a Doctorate Degree researching the money laundering threats of the blockchain economy. Kane is also behind peer-reviewed publications - which includes an in-depth study into the relationship between money laundering and UK bookmakers. You will also find Kane’s material at websites such as MoneyCheck, the Motley Fool, InsideBitcoins, Blockonomi, Learnbonds, and the Malta Association of Compliance Officers.