Best Free Forex Signals APP 2020 for Copy Trading - iOS and Android

Filippo Last Updated: January 2019 7 min read
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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)

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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.

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1 eToro

The broker eToro, founded in 2006, started as a web platform, and then, only later, also developed as a mobile app.

With eToro you can access the largest social trading network in the world, with a community of more than 4.5 million users.

With such a community of signal providers you have obviously an abundance of free forex signals, and all the web platform capabilities are of course available on eToro app.

But the main point of eToro is the fact it doesn’t offer Forex only, but to have a wide variety of investment instruments. Through the use of CFDs, with eToro you can copy signals on Currencies, Stocks, Indices, Commodities, ETFs, Bitcoin, Ethereum and other cryptocurrencies.

eToro indeed offers all the automated copy trading functionality needed to create a real portfolio of traders.

In addition to this, eToro also introduced some very innovative product, including in particular the CopyPortfolios, i.e. a particular type of funds of traders and instruments automatically managed by artificial intelligence.

77
Rated: Excellent
security 93
cost 64
trading 71
education 72

Platforms: Proprietary Web Platform Regulations: FCA, CFTC, MIFID-ESMA, ASIC, CYSEC Minimum Deposit:
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76.69% of retail investor accounts lose money

2 NAGA Trader

Nowadays there are a lot of companies and platforms offering copy trading services and signals, but if we talk specifically of Mobile App, then on our list we must necessarily put the NAGA Trader App.

NAGA Trader indeed was not born as a web platform for then expanding into a mobile app too, but rather the opposite. NAGA Trader (formerly SwipeStox) began and achieved success as a mobile app only.

One of the peculiarities of NAGA Trader is the ability to literally go through a list of the best trades generated by the community, observe the parameters (stop and profit), evaluate the past performance of those who have generated that signal, and finally, if desired, by swiping right you can save it in a watch list, by swiping left you can discard it, or by clicking the Copy button you can copy it immediately.

This is why SwipeStox was renamed the “Tinder of trading”. And that’s why, from the time of its launch in early 2016, NAGA Trader supported a growth of about 500% each month.

NAGA Trader, however, is not only this. It offers many features for Retail Trading, Social Trading, Automated Copy Trading, Crypto Trading, as well as various innovative tools such as CYBO, an artificial intelligence system to automatically copy the best trades in the community, and the NAGA Portfolios.

71
Rated: Excellent
security 95
cost 56
trading 53
education 79

Platforms: Proprietary Web Platform Regulations: FCA, MIFID-ESMA, CYSEC Minimum Deposit: $1

3 ZuluTrade

If you are interested particularly in Forex and Copy Trading functionalities, then ZuluTrade might be the most appropriate choice. ZuluTrade was the first Copy Trading Platform ever, and has always been focused on the forex market and the provision of free signals, both manual and automatic.

ZuluTrade, unlike eToro, is not a broker, but it’s a services platform for brokers. This means that, in order to use its services, with ZuluTrade you can choose the broker you most prefer (among those supported), or connect the one you already have.

ZuluTrade has also focused heavily on automated copy trading functionality, providing very advanced analysis and portfolio management tools, and trying to make everything available in the ZuluTrade App.

Another positive point when it comes to the ZuluTrade app is that it is very easy to get started. The minimum deposit is only $100 and it is easy to connect as long as your broker has a partnership with ZuluTrade. Accessibility is improved by the fact that you can also open an account directly through ZuluTrade but the minimum deposit may vary depending on your choice of broker.

70
Rated: Medium
security 96
cost 61
trading 49
education 69

Platforms: ZuluTrade, Proprietary Web Platform Regulations: MIFID-ESMA Minimum Deposit: $300

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

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.


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