Forex trading can be a rewarding venture if done right; however, it can also be very risky if you aren’t equipped with the right tools. One such essential tool is Forex signals. Forex signals provide key insights into market trends, which can guide you when making trade decisions. They are indicators generated by analysis of market trends and foreign exchange data. These signals can be enormously beneficial to both newbie traders who seek expert insights and to veteran traders seeking second opinions. The year 2020 has seen the emergence of a number of free and reliable Forex signal platforms. Here, we’ll dissect the top free Forex Signals of 2020 and how they can enhance your trading experience.
IQ Option: A Blend of Simplicity and Advanced Features
IQ Option is one of the most prominent players in the Forex trading signal arena. The platform is known for its simplicity, user-friendly interface, and a wide range of features.
- Unique Features: IQ Option provides users with a multitude of charts, data analytics tools, and a built-in news feed. These features provide traders with a balanced insight into the market trends.
- Flexibility: With minimum deposit of only $10, the platform is accessible to beginners. Moreover, it supports various financial instruments including forex, options, stocks, commodities and cryptocurrencies.
- Security: IQ Option is registered with the Cyprus Securities and Exchange Commission, providing an additional layer of security for user’s data and finances.
Plus500: A Secure Portal for Varied Assets
Another reputable Forex signal provider is Plus500. Its uncluttered interface, robust security features, and the freedom to trade multiple assets make it one of the best trading signal platforms of 2020.
- Multi-Asset Trading: Alongside Forex, Plus500 lets you trade commodities, indices, options, shares, and cryptocurrencies.
- Advanced Tools: Plus500 equips users with advanced graphical and analytic tools to help track market trends effectively.
- Online Security: Plus500 prioritizes user security, ensuring personal data and funds are safe.
eToro: Perfect for Social Trading
eToro stands out for its unique approach to Forex trading. The platform fosters social trading by allowing users to copy trades of successful Forex traders.
- Social Trading: Users can increase their chances of success by following, learning, and copying trades of professional traders.
- Versatility: eToro supports stocks, commodities, currencies, ETFs, indices, and crypto assets.
- Security Measures: eToro is regulated by several authorities globally, guaranteeing an adequate level of user protection.
CM Trading: Emphasizing Learning and Knowledge Sharing
CM Trading is revered for its educational resources, making it a great platform for newbie traders seeking knowledge on strategies to succeed in Forex trading.
- Educational Resources: CM Trading has an extensively curated library of eBooks, tutorials, webinars, and daily market reviews.
- Flexibility and Ease: CM Trading offers a seamless trading experience and allows users to control leverage, stop losses, and take profits.
- Guaranteed Security: CM Trading is fully regulated by the Financial Services Conduct Authority in South Africa.
Here, is a compiled table summarizing the key features of these platforms to guide you in making an informed choice.
| Platform | Unique Features | Asset Types | Regulatory Body | Security Measures |
|---|---|---|---|---|
| IQ Option | Multitude of charts; Data analytics tools; Built-in news feed | Forex, options, stocks, cryptocurrencies, commodities | Cyprus Securities and Exchange Commission | User’s data and finance protection |
| Plus500 | Advanced graphical and analytic tools | Forex, commodities, indices, options, shares, cryptocurrencies | Financial Conduct Authority in the UK | SSL Security and Funds Protection |
| eToro | Social Trading | Stocks, commodities, currencies, ETFs, indices, cryptocurrencies | Financial Conduct Authority in the UK, CySEC, ASIC | Data and transaction protection |
| CM Trading | Educational Resources | Forex | Financial Services Conduct Authority in South Africa | Financial and personal data protection |
Choosing the right Forex signal platform entirely depends on your trading goals, strategies, and level of experience. Given the diversity in offering of these platforms, it is advisable to take time to understand how they work and figure out which one aligns best to your needs before embarking on Forex trading journey.
Summary
- The article discusses the top free Forex signals of 2020.
- Forex signals are trading alerts that provide real-time market trends, forecasts, and investment opportunities. They can significantly enhance trading experiences through their reliable platforms.
Top Free Forex Signals of 2020
- Learn 2 Trade: An extensive Forex signal provider that also covers cryptocurrencies and commodities. It offers up to 10 free signals per week.
- Pips Alert: Delivers around 2 to 10 signals daily, focusing mainly on the Forex market. Users can upgrade for unlimited signals.
- MQL5: A community-based platform where traders can select among professional signal providers. It covers various asset sectors.
- Forex Signal Factory: Provides daily trading signals for free, aiming at both beginner and experienced traders.
- 1000pip Builder: Known for its high accuracy rate in predictions. It offers both free and paid service packages to cater to various trader requirements.
- JKonFX: Combines the benefits of both an automated algorithm and the market insights of a professional trader. Includes daily streaming and analysis.
These platforms help traders make effective and timely decisions in the Forex market. Selection often depends on individual trading styles, risk tolerance, and investment goals.