The best free Forex signals app for copy trading are NAGA, and ZuluTrade.
To choose the best free Forex signals app for copy trading to trade, the possibility of getting signals on Forex and on other markets, the possibility to use copy trading, the quality of the service offered, trading costs (spread and commissions), platform and tools, and customer support are the most important criteria.
Naga is the free Forex signals app for copy trading overall, it provides access to top trades from the community. Users set forex signal parameters and engage in retail, social, copy, and crypto trading. The app requires a $50 deposit for use. It offers trading costs for spreads (1.7 pips on EUR/USD), comprehensive platforms (Proprietary Platform), and active customer support (24/5 availability).
ZuluTrade follows NAGA as the best free Forex signals app for copy trading with platform and tools (MT4, and Proprietary Platform), and customer support (24/5 availability via phone, email, and chat). ZuluTrade is a services platform that can be connected to a trading account with a broker. It is possible to find a wide selection of forex signal providers, together with the broker they are using and their main strategy. The app requires a $100 deposit for use and it offers trading costs with spreads starting from 0.3 pips on EUR/USD.
Round-up
| Apps | Min. Deposit | Social Trading | Copy Trading |
|---|---|---|---|
| NAGA App | $50 | Yes | Yes |
| ZuluTrade App | $100 | Yes | Yes |
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
What are the best free forex signals app for copy trading?
Here are our top 3 apps for receiving the best forex signals and more.
NAGA
The NAGA app provides access to top trades from the community. Users set forex signal parameters and engage in retail, social, copy, and crypto trading. The app requires a $50 deposit for use.
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Regulations:
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Avg. EUR/USD Spread:
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Platforms:
About NAGA
NAGA is a German fintech company founded in 2015, offering social trading and investing services across forex, stocks, cryptocurrencies, commodities, and indices. NAGA provides a proprietary trading platform alongside MT4 and MT5. NAGA is regulated by CySEC and listed on the Frankfurt Stock Exchange. NAGA is known for its social trading features and copy trading functionality. The NAGA CEO is Michael Milonas since 2024.
NAGA Features
The features of NAGA are listed below.
- On the NAGA app is possible to go through a list of the best trades generated by the community.
- You can choose the best forex signals by observing and setting your own parameters (stop and profit).
- NAGA offers many features for retail trading, social trading, automated copy trading, and crypto trading.
- NAGA requires a minimum deposit of $50 to get started.
NAGA Pros and Cons
Advantages of NAGA
The advantages of NAGA are listed below.
- User-Friendly Platform
- Social and Copy Trading Features
- Diverse Asset Selection
Disadvantages of NAGA
The disadvantages of NAGA are listed below.
- High Spreads
- Limited Account Types
- No US Clients
ZuluTrade
The ZuluTrade app connects to trading accounts. The app focuses on automated copy trading. Users access advanced tools and forex signal providers. A $100 balance is required for broker connections within the app.
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Regulations:
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Avg. EUR/USD Spread:
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Platforms:
About ZuluTrade
ZuluTrade is a global social wealth management platform founded in 2007, offering copy trading services across multiple asset classes including forex, stocks, commodities, and cryptocurrencies. ZuluTrade provides a broker-agnostic platform, allowing users to connect with various integrated brokers. ZuluTrade features advanced tools like ZuluGuard for risk management and a social feed for community interaction. ZuluTrade is regulated by multiple authorities including CySEC and FSC. The ZuluTrade CEO is Tajinder Virk.
ZuluTrade Features
The features of ZuluTrade are listed below.
- ZuluTrade is a services platform that can be connected to a trading account with a broker of your choice.
- The ZuluTrade app is heavily focused on automated copy trading functionality, providing very advanced analysis and portfolio management tools.
- Within the ZuluTrade app is possible to find a wide selection of forex signal providers, together with the broker they are using and their main strategy.
- To keep your forex broker of choice connected to the ZuluTrade app, you must keep a balance of at least $100 into ZuluTrade.
ZuluTrade Pros and Cons
Advantages of ZuluTrade
The advantages of ZuluTrade are listed below.
- Transparent Costs
- User-Friendly Interface
- Diverse Trading Options
Disadvantages of ZuluTrade
The disadvantages of ZuluTrade are listed below.
- Limited Market Options
- Dependence on Broker Fees
- Less Customization in Strategy Filtering
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 receive live forex signals for free.
MQL5
MQL5 is considered to be one of the most popular apps when it comes to forex signals. MQL or MetaQuotes Language is connected to MetaQuotes software, also the developer of 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 you can access both 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 cover almost every trading technique with something for everyone.
If the forex signals are not enough, you can 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 within the Telegram app.
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.
How to copy forex signals: Easy short guide
Copying forex signals is actually a straightforward 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, and 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 using your forex signal.
How to maximize these Copy Trading Apps
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 judgment 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.