A free forex signals is a suggestion for entering a currency pair, usually at a specific price and time. The signal is generated either by a human analyst or automated Forex robot supplied to a subscriber of the forex signal service. They are usually communicated via email, website, SMS, RSS, tweet or other relatively immediate method.
Types of services
Services provided fall into four categories:
Unpaid / free signals
aggregated from multiple signal sources or algorithmic analysis Paid signals aggregated from multiple signal sources or 'systems'
Signals supplied by trading software located on the trader's computer, also known as a forex robot or EA (Expert Advisor)
Typical features offered by Forex signal service providers
Typical forex signals as provided by a renown provider.
Exact or approximate entry, exit and stop loss figures for trades on one or will more currency pairs
Supporting graphs and / or analysis for the signals
A trading history showing the number of pips profit / loss per month and / or the risk / reward ratio and actual trades. Sometimes (especially in the case of forex robots) this may be shown as back-tested results
One-on-one coaching, or additional interaction with the signal providers such as comments, forums, etc.
Account management whereby a subscriber's account can be traded by the signal providers
Educational resources either via the internet or phone
A trial period for a lesser price
Although These Are the main features of a signal supplier, not all of them offer the complete list of services.