ForexSignals.com is a forex broker that has a large plethora of tools, education, and features for their traders. Founded by a trader, ForexSignals.com has a lot to offer. So, is ForexSignals.com right for your trading? Read our review to decide.
ForexSignals.com came into existence in 2012 when it was founded by trader Nick McDonald, who was, at that time, a relatively new trader in the Forex industry himself. Having noticed a lack of community-based support resources within the industry, ForexSignals.com was born.
The company still sticks by its original mission plan. That is essentially to create a community-based support network, filled with knowledge from other traders, both professional and otherwise, which can be provided to others in the sector. This has expanded beyond the initial trading room for sharing ideas and strategies to become one of the leading hubs for knowledge and learning in the Forex industry.
At the most basic level, ForexSignals.com markets itself as an all-encompassing community where knowledge can be learned and shared around all aspects of Forex trading (similar to ForexMentor.com). Facilitating this learning process are a number of expert professional traders. These number a total of 9 people who are operating within the services trading room and available to answer your questions.
Ultimately, ForexSignals.com commits to turning you “into a winner” by showing you exactly how to trade, identifying trends, and creating signals for you to follow. All the while, the professional traders from the platform will also be trading the very same information they are dispensing.
At signup, you are presented with two options. A monthly package, and a discounted annual package. The annual package features many of the same features as the monthly package and additional features a number of personalized benefits such as personal feedback and a 1-1 session with professional forex trader, Andrew Lockwood.
Course Breakdown and Analysis
ForexSignals.com provides an all-encompassing educational environment. This means that while there are training and educational courses and content to be viewed through the trading academy, everything centers on the trading room hub as a whole.
Within this trading room, the first stop for many traders will be the trading academy educational courses. There are two courses available which are designed for those new to trading. These courses are delivered by Andrew Lockwood, and Mark Bennell. Both are professional Forex traders with a combined experience of more than 40 years of trading Forex.
Both course are broken down into easy to divulge chunks. This makes for a total of 12 modules featuring 136 videos. Each module includes a total of about 60 minute’s video broken down into segments which are easy to follow.
Focusing on the Trading Academy of ForexSignals.com the curriculum is broken down into a total of 12 modules delivered by two professional traders. The following modules are delivered by Andrew Lockwood:
- Module 1 – Fundamentals
- Module 2 – The “Aha” Moment
- Module 3 – Naked Swing Trading
- Module 4 – Propulsion Scalping
- Module A – Workshops and Q&As
The fundamentals module covers the basics of what the Forex market is and how it is profitable, whilst the “aha” moment module goes more in depth about how to manage risk and expectancy. Getting more technical from module 3 traders learn about support and resistance trading as well as how to read candlesticks and module 4 is concluded with more indicators including Fibonacci retracements, moving averages, and backtesting.
Seven more modules are delivered by Mark Bennell as follows:
- Module 1 – Setting the Stage
- Module 2 – Treating it as a Business
- Module 3 – Business Essentials
- Module 4 – Let’s Get Technical
- Module 5 – Analysis Techniques
- Module 6 – Traders Technical Toolbox
- Module A – Workshops and Q&As
The first three modules in this segment of the course are very much focused on the principles of business and understanding how to run your Forex trading career profitably. This is vital foundation knowledge of any Forex trader in order to be successful. In the final three modules trader learn more in-depth basics related to conducting technical analysis, how to do so, and the various reasons why it is important. Again, this is very pertinent information, useful to all levels of trader in the Forex industry and a step beyond the already excellent education provided by other major forex brokers reviewed.
Learning Objectives and Outcome
The learning objectives in this area are quite clear. New traders should emerge from this trading academy with a solid basic knowledge of all Forex fundamentals. This includes the mindset of a successful Forex trader as much as how to analyze the technical information, learn about charting and professional indicators, and ultimately how to engage particular trading strategies successfully and recognize market movements with a degree of success.
These elements are all quite vital to the success of any forex trader, and therefore it can be said that they are practical, particularly for those new to the industry, and they should instill a good understanding of basic Forex trading principles.
ForexSignals.com Additional Features
In addition to the trading academy course, ForexSignals.com presents traders with a whole range of benefits when they sign-up for membership. These are all based within the Trading Room which also functions as a chat forum. From here, traders can access communication channels with many other traders and share ideas and information on a range of topics. These forums are filled with other traders and cover everything from trusted Forex Brokers to trading strategies. All useful areas for potential traders.
As a part of your membership fee, you will also be able to follow the live streamed trading sessions of the professional traders on the platform as they seek opportunities and ensure you do not miss out. All the while, as a monthly or annual member, you will have access to a number of professional trading tools provided by ForexSignals.com. Namely, these are a Risk Manager EA, Naked Trading EA, Momentum Indicator, and Profit Simulator. These are very helpful tools which should be fully within your capacity to utilize given the range of education covered in the Trading Academy videos.
Traders who opt for the annual membership package will have access to more detailed and personal feedback. This comes direct from assigned mentors who offer regular feedback which is both constructive and helpful to the trader, as well as a direct 1-1 session with expert professional trader Andrew Lockwood.
These kind of benefits are great value for the price, and offer insight which is usually unattainable for Forex traders, particularly those who are new to the industry.
ForexSignals.com offers two types of pricing package. These are the monthly package which is priced at $97 per month, and the annual package which is priced at a total of $249. It is quite clear if you intend using the service that the best value strongly lies in the annual package.
ForexSignals.com customer support is quite strong. They feature a website-based live chat which is available on a 24/5 basis, while email support is available at all times. Support team members were both polite and helpful when posed with test questions, and provided relevant answers.
In terms of a refund, the company policy is to offer this for a period of 7 days after you have paid membership. This does not include your 7-day trial period, which is free.
Is This Education a Good Fit For You?
This is an all-encompassing service which would be highly suitable to new traders who wish to learn more about the forex industry fundamentals, and benefit from the guidance of professional traders as well as a knowledgeable community of Forex traders along the way.
For more experienced traders, much of the structured education provided by the courses will be quite redundant, although they may benefit from the sharing of ideas through the forum section. This is unlikely to be beneficial enough to attract a large number of experienced traders given the membership fees.
One important point to note when discussing whether ForexSignals.com is a good fit though, is the fact that, if you make a deposit of $2,000 or more with their partner broker Blueberry Markets, the broker will cover your fee expenses. This could represent a particularly good deal for traders with Blueberry Markets.
Overall, ForexSignals.com represents a very comprehensive offering to traders. The team are extremely hand-on and provide stellar guidance to hundreds of traders on a daily basis. The trading room also functions as a social and informational hub. This is something which many traders value almost as much as the education and guidance from the professional trading team.
The strength of ForexSignals.com in the industry is clearly evidenced from its growth. In a period of just a few years, they have grown to become the leader in the forex education field, and one of the most followed and utilized resources for all levels of trader.
The service may seem expensive at first, but particularly if starting out as a Forex trader, this would be an investment well worth its cost in terms of the quality of basic education and professional trading guidance which it can deliver. Not alone that, but unlike some others in the industry, ForexSignals.com operates with almost complete transparency and with the highest levels of trust from its user base.
- A fully comprehensive offering which includes not only an in-depth educational course, but also access to professional trading tools, and continued sources of professional guidance.
- It has grown to become one of the most respected services in the industry over a relatively short period.
- Many rewards and bonuses are available through the platform depending upon your choice of broker.
- ForexSignals.com offers a generous 7-day trial and further 7-day refund period if you are not satisfied for any reason.
- Trading academy courses are only really aimed at novice or intermediate level traders.
- The monthly fee seems to be quite expensive when compared with the hugely discounted annual subscription fee.
- There is a certain amount of pressure to join up to the partner brokers in order to realize the complete benefits of ForexSignals.com