Looking for a way to get forex trading signals right on your phone?
Maybe an App for free forex signals in particular?
And maybe with the ability to copy them with a single click, just some or even all automatically?
Then you have found the right post.
Indeed, we have brought you the Top 3 absolute best Apps 2020 (available for both iOS and Android) that will let you get free forex signals, and with which you can take advantage of copy trading functions.
These suggestions can work perfectly even as live daily signals apps.
So, here’s the Top 3 of the best Free Forex Signals App for Copy Trading.
(This post is part of the best forex broker in the world series)
Table of contents
Top 3 Best Forex Signals app 2020
Looking for the best forex signals app to receive reliable trading signals? Or more generally, free trading signals on various markets?
Here is our top 3 app for receiving the best forex signals and more.
Free live forex signals: 2 more apps for receiving the best forex signals
Here are two more top choices when it comes to services where you can recieve live forex signals for free.
MQL5 is considered to be one of the most popular apps when it comes to forex signals, and free forex signals for that matter. MQL or MetaQuotes Language is connected to MetaQuotes software who of course are behind the MetaTrader trading platforms offered by almost every top forex broker.
The MQL app has the backing of a hugely active community of traders and is supported by both iOS and Android. The app itself along with all other MetaQuotes software is very light and capable of running on almost any device. Through the app itself you can access bothe free, and paid forex signals from a range of markets. The average price of the signals sold here remains very reasonable at around $30 and the MQL app and community covers almost every trading technique with something for everyone.
If the forex signals are not enough, you can of course download EAs for automated trading through MT4 and MT5 that have been made available by the MQL5 community of traders.
Signal Factory (Telegram forex signals)
Signal Factory is another great source when it comes to free forex trading signals. In fact, they are a community within the Telegram app which is of course famous around the world and available on any smart device.
The forex signals coming from this service are very much trusted and the service relies on connecting retail and professional traders in real time to gain access to the best and most profitable signals provided by these professional traders.
With a huge community of traders involved numbering more than 45,000 and growing all the time, there is certainly going to be something to suit all types and levels of trader with Signal Factory.
How to copy forex signals: Easy short guide
Copying forex signals is actually a very easy process. Of course if you are using a dedicated copy trading service, this is just the click of a button. This guide is aimed at you if you are a trader using forex trading apps such as MetaTrader in combination with third-party signals services.
- The first step is you will get your signal from the likes of MQL or Signal Factory as mentioned above. This will usually come along with some key data.
- The key data will typically include an entry price, the direction of the signal if it is long/short, buy/sell. They may also include a suggested stop loss or take profit area, though the amount of data will depend on the signal and the provider.
- All you have to do is literally copy these values within the app you’re using for trading with.
- Select the asset of the signal
- Select the direction of the trade (buy/sell)
- Open the panel for setting an order
- Copy the entry price
- Set the stop loss and take profit data (which is usually within the same panel)
- Set the order
- Once the asset you have chosen meets the entry price you have selected, it should open as usual. Then, if you have set a stop loss, or take profit point, it will automatically close at this point and your trade will be completed from using your forex signal.
How to maximize these Copy Trading App
Using a free forex signals app, or using a Copy Trading App, are two very similar activities, basically identical.
The main factors to consider are the same for both.
Before you begin to copy the signals, you have to be able to figure out some of the following information using your judgement about the signal:
- Is the person creating them a professional?
- Are you happy to trust that this signal provider knows what they are doing?
- Does the signal fit your risk profile – Is it too risky, or too conservative?
If you can’t analyze these factors, then, by copying them, you also replicate automatically all the problems and risks.
InvestinGoal was created precisely for this, to provide all the necessary knowledge for those who want to exploit the potential and the convenience of copy trading and automatic forex signals.