ForexSignals.com is an education service with live market commentary, a trader chat room, and one of the best forex training courses. This ForexSignals.com review will guide you through the service by providing insights and in-depth information about what subscribers can expect using the forex trading service.
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Nick McDonald founded forexsignals.com in 2012 when he was already attracted to forex trading many, many years. He attended seminars, read various books and even hired a mentor to become a successful trader. He then experienced the up and downs in the trading account many of us know about.
Nick then started his journey in finding a forex trading room to interact with others and realized that such a resource did not exist at this time. This was the starting point for forexsignals.com. A community everyone could join. With his business partner and talented developer, Will Thomas, he set the foundation for his journey to build the world’s best forex trading room and website in the world.
Now, about 10 years later, forexsignals.com counted more than 500,000 registered members. The team of mentors grew to 4, and 52 people work full time to make forexsignals.com a great experience for customers.
|🏢 HQ||Hong Kong|
|🚀 Features||Education, trading signals, community|
|⭐ Traders||Andrew Lockwood, Mark Bennell, Max Norbury|
|💰 Membership||Monthly, 6 months, annual|
|👛 Discount||10% Off|
|🎮 Trial||7-day trial|
Four experienced traders help clients to beat the markets and generate positive returns by trading currencies. Clients can chat 24 hours per day on 7 days a week with the mentors, and they promise to answer any question. Andrew Lockwood, Mark Bennell, Max Norbury and Paul Vercoe have over 80 years of trading experience and help with fundamental- and technical analysis in forex, stocks, bonds, futures and commodities.
- Andrew Lockwood: Andrew traded in the London pits back in the 80s and brings in 30 years of experience trading forex markets.
- Mark Bennell: Mark is a Certified Financial Technician being focused on high-probability trading based on technical analysis.
- Max Norbury: Max started trading when he was 19 years old. He is the youngest member of the team and has 10 years of experience trading in the financial markets.
- Paul Varcoe: Paul is a trading veteran with 33+ years of experience in trading stocks, options and forex. Similar to Andrew, Paul is a former floor trader, and he likes automated and algo trading.
Forex Trading Room Insights
The ForexSignals trading room dashboard is the starting point for all trading-related activities within the service. From here, you have access to the education center, trading ideas, tools, trading lab, trading news and some additional features. Let me guide you through the most important ones.
Daily Live Streams
The six daily live streams cover the major currency regions Asia, EU, and the US with session scans complemented by the morning scan with Paul and the daily scans with Mark. Once you sign in to your dashboard, you see a little timer that shows you when the next live stream starts.
You can click on the session of your choice to set an alert. The system will remind you once the live stream starts. Forex signals are discussed within the sessions, and the moderator applies technical analysis on the markets he has on focus.
The live streams from the previous day are available if you click on previous streams next to the live stream schedule.
Forex Educational Video Courses
Forex trading education is a central part of the forexsignals.com service. The four lead-traders, Andrew, Mark, Max and Paul, teach new traders on all aspects via extensive video courses within the trading academy.
Each mentor published between 46 and 207 videos for a total of currently 410 forex education videos. New videos are published almost every week, and new educational content is added regularly. The video section is well organized, and all videos are categorized into various learning modules.
For example, if you click on Get Started with Andrew Lockwood, you will see all his modules at once:
Now, once you decide on an education module, let’s say the Forex Trading Basics, you will then see the videos in a list with details about the video title, length, total number of videos, the total length of the module:
Once you have watched a video, the video will be marked as complete, and the more videos you consume, the higher your course completion status will go. Andrew Lockwood’s academy videos have a total length of about 8 hours, which equals a typical full-time workshop about forex trading. The big plus of using an online service is that you can structure the education lessons day by day relative to your time available.
I like the way the courses are structured. All mentors act as a trading team and teach different modules. They basically cover everything related to forex trading like trading strategy basics, advanced forex trading strategies like the FX Propulsion Strategy, Trend Surfing Strategy and Naked Trading Strategy. Paul Varcoe also explains options trading and offers a stock 101.
Chat With Mentors and Traders
As lined out before, the mentors will guide you through the current market environment four times a day. On top of that, you can interact within the community by chatting with other traders within the ForexSignals.com chat room. You see how many members are online, and you can type a message right into the chat feed. With a click on the username, you can directly tag your message.
Once you click on the forex trader avatar, details about the forex trader will be revealed. You see the user name, trading experience, reputation points, and followers. There is also an activity overview and trade signals summary available. This is a great feature since you can check the previous posts of each member and see how the trade ideas were liked, and you can even read to the comments if you want.
ForexSignals.com acts as a community where forex traders can chat and publish buy and sell signals. Members have different trading skills, and the forex market offers plenty of opportunities to trade currencies. Everyone can post the trading signals within the trading rooms.
The chat is there to discuss the current market environment openly, and you can interact independently from your forex trading experience. Once a new trade idea was posted, it also appears within the navigational element called Trading Ideas. Users can rate the trade idea, leave a comment and post their own market perspective.
Here is a nice feature: You get notified with an email alert once a mentor posts a trade idea.
The trading tools section contains a currency heat map with the strongest and weakest currency pairs on the market. There is also a profit calculator and lot size calculator available.
The expert advisors are discussed within the Trading Lab. Here you also find a weekly market report and the link to the trading room mobile app.
Within the trading tool section, you find a simulator and MetaTrader expert advisors. The expert advisors are available for MetaTrader 4, and most of them also for MetaTrader 5. Here is a list of some expert advisors available to download:
- Risk Manager EA
- Naked Trading EA
- Pattern Finder EA
- Support Resistance EA
- Trend Surfing Software
- Momentum Meter
- Profit Simulator
Weekly Market Reports
Every Monday, a new weekly market forecast report is provided as a pdf file ready for download.
Trading Room Mobile App
The mobile app can be downloaded for Android and iOS. Users gain access to everything in the trading room by using the app. Even the live streams are available by using the app.
The ForexSignals.com pricing is straightforward and easy to understand. The longer the subscription period, the more features are included and the lower the price per month.
The most expensive membership costs $567 per year, which equals $47.25 per month. Alternatively, you can subscribe on a month-by-month basis for $97 per month, or you pay 6 months in advance $297.
Here is the good news, no matter what ForexSignals.com package you chose, there is always a 7-day free trial included, and you will not be charged before the 8th day. If you are not happy with what you get and cancel in the first 7 days, you get your money back.
ForexSignals.com Reviews From Clients
The ForexSignals.com reviews on Trustpilot and Forex Peace Army are excellent. Currently, Trustpilot counts 1,509 excellent ForexSginals.com reviews with an average of 4.6/5.
75% of people rate it excellent, 19% great, and 6% say that they have not been satisfied using the service. On forexpeacearmy.com, 160 client reviews rate ForexSignals.com with 4.5/5 on average.
I also checked their YouTube channel ForexSignals TV. Currently, they have 272,000 subscribers, and about 2 videos are released each week. The playlists Forex BAsics and Pro Trading Tips are a good starting point for beginners.
Forex Signals Review Summary
ForexSignals.com is a great place to start forex trading. As a beginner, you want to understand the forex markets and basic risk management concepts. That’s easily possible at forexsignals.com by watching the extensive video education material within the forex trading academy.
Forex Signals is not a pure signal provider where you receive exact entry and exit parameters all day long from the mentors. Instead, it is structured like this: The trading mentors hold live sessions with trade ideas 4 times a day. The market analysis takes place live during the video sessions, and they take positions in the market. You see the open positions a mentor has in a ticker-tape within the video.
On top of that, trading ideas are posted within the chat room on the site by community members, and you can see the signals history for each member by clicking on his avatar. In my opinion, beginners should focus on the live sessions and mentor comments at the beginning to avoid the noise. The mentors teach their strategies within the education center, and the live sessions allow you to see how they do what they teach.
The mentors clearly recommend that you should stay on a demo account for at least three months and that you may extend the demo account used if you do not become profitable within that time. They strongly point out that education is the foundation for success and that success will not come overnight. So what you really need to do is to be careful at the beginning. I like that mentors give a realistic picture and encourage users to archive their goals step by step.
The costs per month for the forexsignals.com service are within a typical range of similar services. The great thing here is that each subscription period comes with a 7-day free trial. If you are disappointed with the service for some reason, you have 7 days to cancel the subscription without paying anything.
How much does the subscription to forexsignals.com cost?
The costs per month start at $47.25 when paying for a year in advance. The month-by-month subscription costs $97 per month. During the 7-day free trial, nothing has to be paid.
Is forexsignals.com a signal provider?
No. Forexsignals.com does not purely belong to the group of signal providers with trade alerts. Instead, they teach users how to trade the forex markets and stream live-trading and market analysis four times per day, posting their positions within the stream.
Are Forex Signals Reliable?
Forex signals are as reliable as other trading service signals. Every trader has to commit to taking responsibility for his trading decisions. Mentors take trades, but no trading results history and track record are posted on the site.
What forex signals strategies do I learn?
ForexSignals.com teaches the basics of forex trading and advanced strategies like the naked trading strategy, FX propulsion strategy, and a trend surfing strategy.
What are the best forex trading platforms?
The best forex trading platforms offer MetaTrader 4 and MetaTrader 5 access and a demo account to practice trading in a simulated environment. The account minimum typically starts at $150.