Is ForexSignals.com Signals Service Safe? – A Scam Assessment

Forex Fraud Analyst Team

is forexsignals.com signal service safe?

If you’re an online trader, you may already be aware that signal service scams are all too common, but not all signals services are scams, and many traders find that subscribing to a signals service can be helpful. Legitimate signals providers can help traders make more successful trades, but some are better than others. So is ForexSignals.com legit, or is it one of the many scam signals providers out there?

What is ForexSignals.com Signals Service?

ForexSignals.com is a signals service provider that serves more than 83,000 forex traders worldwide. The organisation has been operating since 2012 and offers a paid subscription alongside a 7-day free trial that new customers can access directly from the website. That, at least, is a very good sign. Many signals providers do not offer free trials, so you will often need to sign up (and pay) for at least a month to try them out. One week may not be much to get an idea of how good the service is or how well suited it is to your trading needs, but it is better than nothing.

It is also worth noting that the ForexSignals.com website is more than just a signals provider. The site offers an education portal, advice on trading strategies and free trading tools, such as a forex economic calendar, a profit calculator, and a currency heat map. Several different pricing plans exist for those wishing to access the education portal and signals service.

What does ForexSignals.com Signals Service Offer?

There is quite a lot on offer at ForexSignals.com. They are definitely more than just a signals provider. The focus is on providing traders with an active community and a range of forex trading tools and education to allow them to become a successful trader in their own right. The site aims to help traders learn how to read and forecast the international forex markets, discover how to find good trade opportunities, effectively manage risk, and make smarter day-to-day trading decisions.

As a member of the site, you’ll receive access to education, trading strategies and various trading tools, along with the guidance of experienced market analysts. You’ll also have the opportunity to access a plan that allows you to trade with the company’s own capital and keep 70% of any profits you make. Members can join daily live streams, review forex pairs in real-time, and chat with other traders in the community inside the members-only “Trading Room” section of the website. You’ll gain access to the Trading Room once you have completed the sign-up.

There are a few different membership levels offered at ForexSignals.com. The apprentice level is billed monthly and gives traders a range of benefits, including:

  • Trading room access
  • A pro trading video academy
  • Daily live trading sessions
  • Trade sentiment analysis
  • Weekly hot-pick analysis
  • Real-time global news stream
  • Live interactive workshops
  • Access to pro trading tools

The next level is known as “Committed” and is billed every six months. It offers all of the above plus exclusive brokerage access and direction from top market analysts. The top tier of membership is “The Professional”, which includes everything included in the other memberships plus a direct line to market analysts. It is billed every 12 months. You can try out any one of the membership tiers on a free 7-day trial to see if it will work for you.

Perhaps the most important thing to assess when choosing a signals provider is whether other customers are happy with the service, and that certainly seems to be the case with ForexSignals.com. While it is impossible to please all of your customers, all of the time, the site has a high overall rating on Trustpilot, with a total of more than 1800 reviews, and 76% of those reviews rate the site as excellent. Customers seem particularly impressed with the level of education offered and the active community of traders.

Is ForexSignals.com Signals Service Regulated?

As most forex traders will be aware, forex advice sites and signal service providers are not subject to regulation like forex brokers and other financial services providers. This is one of the reasons why there are so many scams out there. It is not hard for any trader to claim that they are successful and sell their signals and education products to other traders.

This is why ForexSignals.com is not regulated in the same way a registered financial professional or brokerage would be. That doesn’t mean ForexSignals.com is a scam or in any way disreputable, however. It simply means it is not subject to regulatory oversight, which means that if you have a problem with the company, your only course of action is to take it up with them directly. There is no regulatory body to which you can complain.

Is ForexSignals.com Signals Service Safe?

ForexSignals.com certainly appears to be a safe and reliable site with plenty of happy customers. It is never possible to guarantee that a signals provider or forex education site is 100% secure, and you should always be aware that trading forex is a risky business. It is always possible to lose money, even when following the advice and signals provided by other successful traders.

This site has been around since 2012 and has many positive customer reviews on Trustpilot, the majority of which rate the service as excellent. However, as with any provider, there are a few negative reviews. The free trial adds an extra level of safety by allowing you to try out the service before you commit to a subscription. Even if the site is legitimate, that doesn’t mean it will fit your needs, trading aims or budget, so it is always important to be cautious.

As an online trader, it’s also essential to recognise that no one service, tool or technique can guarantee your trading success. Trading is a complicated, high-risk form of investing. There is a lot to learn, so it’s always advisable to do plenty of research, access as much trading education as possible, and learn to develop your own strategies that fit your trading aims and suit your appetite for risk and your forex trading budget.

Safe Forex Brokers

Broker Features Min Deposit EURUSD Spread  
Number One Broker BlackBull Markets LogoYour capital is at risk US Clients: No Regulated : Yes

– Flexible leverage up to 500:1
– Multi award-winning New Zealand broker
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$200From 0.1
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$100from 0.0 pips
Sign Up 75 % of retail ...
AvaTrade LogoYour capital is at risk US Clients: No Regulated : Yes

40% New Member Bonus
– MIFID, ASIC, FSA & FSCA regulated
– Free Online Trading Coach

 

$100Fixed
Sign Up Europe* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Plus500 Forex broker logo72 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. US Clients: No Regulated : Yes

– FCA, ASIC, CySEC Regulated.
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100GBP/AUD/EUR/USDFrom 0.0 pips
Sign Up 72 % of retail ...
Moneta Markets LogoYour capital is at risk US Clients: No Regulated : Yes $50from 0
vantageYour capital is at risk US Clients: No Regulated : Yes
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$200From 0.1 pips
LegacyFX LogoYour capital is at risk US Clients: No Regulated : Yes
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  • Good for beginners with excellent trading academy.
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  • 24 Hour Support
  • Negative Balance Protection
$200NDD 0.09 / Standard 0.69
Sign Up Between 74-89 % of retail investor accounts lose money when trading CFDs
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Forex Broker eToro Logo67% of CFD traders lose US Clients: Yes (eToro USA) Regulated : Yes
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$200from 1
Sign Up 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Skilling forex broker logoYour capital is at risk US Clients: Regulated : Yes $100
Sign Up 69% of retail investor accounts lose money when trading CFDs with this provider.
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Pros: Cons:
Market-leading regulatory framework Minimum balance requirements
Trader focused site design Not available in some countries
Track record of over 20 years
Reliable and cost-effective trading platform
Extensive range of markets on offer

 

 

1000 EURBank: 1.1 EU traders: 1
VT markets logoYour capital is at risk US Clients: No Regulated : Yes
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  • Place trading alerts.
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No minimum deposit From 0.0 pips
Trade360 LogoYour capital is at risk US Clients: No Regulated : Yes
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Oanda Logo77% of retail CFD accounts lose money US Clients: Yes Regulated : Yes
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Nonefrom 1.2
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– Regulated broker
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$50 From 1 pips
HYCM LogoYour capital is at risk US Clients: No Regulated : Yes

– Regulatory compliance is under the auspices of the FCA in the UK, the SFC in Hong Kong, the DFSA in Dubai, and by way of the MiFID for the European Union.
Up to $5,000 Welcome Bonus (T&C apply) Applicable only for HYCM Limited

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Exness logoYour capital is at risk US Clients: No Regulated : Yes
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iq option71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money US Clients: No Regulated : Yes

– 50 Euros minimum deposit
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20 EurosVaries
Sign Up 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
CCI Traders logoYour capital is at risk US Clients: No Regulated : Yes
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BDSwiss trader logoYour capital is at risk US Clients: No Regulated : Yes
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Sign Up Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.

    Our ForexSignals.com review has demonstrated that this is a legitimate site with a good range of offerings for forex traders, including education, training, free trading tools, signals, analysis and advice. It also comes with a large and active community of other traders at various levels, which will appeal to some traders more than others. While no one site or service can guarantee consistent success, you may find that ForexSignals.com helps you to increase your number of profitable trades slowly. As always, check out customer reviews for yourself, and try the service out for free, to see how well it suits you and whether you think it is worth the investment.