Unique Features of Good Forex Signal Providers

Quite a new entrant to theforex signal provider market and also a lesser known forex signal provider, Forex Signal Factory has been one of our best picks ever. However, it is natural to question a forex signal provider to give these signal services for free, especially if not always the most superior services around. But then again, this is just an opinion. So what's it all about? Is there really a catch?

First of all, Forex Signal Factory has the distinct advantage of providing its services to the traders at no cost. The forex signals are sent through an auto-responder which forwards them to the trader as SMS messages or email attachments. The subscribers get the forex signals via email or SMS as soon as they are available. So the subscriber gets the alerts even faster than the trader. 

It works for both beginner traders and advanced forex trading professionals. Secondly, Forex Signal Factory proffers two unique features that set it apart from other signal providers. Firstly, it gives free email notification when you receive any of its forex signals. 

This is particularly helpful if the signal was generated by a tool such as Metatrader or TradeStation. In that case, manually analyzing the technical analysis of the pips would require spending time, which may be counterproductive. Secondly, it does not require the trader to have a minimum capital size. So far, so good. However, here is where the real value of Forex Signal Provider lies:copy trading forex signals should only be sent by professional traders with substantial experience in trading. 

This can be checked by looking at their signatures at the bottom of each message. If
these people are professional forex signal providers, they will most certainly put a stop to any and all sending of unsolicited automated trading signals to new traders. These professionals know what they are talking about.

As far as I am concerned, the second unique feature of Forex Signal Provider is the fact that it provides a free 30-day trial period. During this period, it allows the subscribers to test the forex signal services without having to pay anything. The software will allow the traders to generate the necessary pips and the strategies adopted for trading by analyzing the forex signals. 

However, the signals won't be able to provide the required exit and entry points nor will they be able to ensure that the pips generated are consistent. This means that the trader must also make sure to choose a reliable source to send him or her's
forex signals. Some traders find it useful to subscribe to a service which offers them free trials because then they can test the system free of cost before making a final decision on the platform. 

Once the trial period is over, it is advisable to cancel the subscription. Signals are sent by individuals or groups which have the responsibility to maintain the integrity of the system. Therefore, forex signals providers need to ensure that the signals they transmit are consistent with the strategies adopted by the subscribers. Therefore, the third unique feature of a good forex signal provider is the ability to automate the
generation of the requisite signals. 

Automation means that the strategy adopted by the subscriber should be able to run on a demo account. When this account is successfully connected to a real trading account, the forex signal provider should be able to make use of the built in features of the trading platform such as the demo account connection facility. This will enable the trader to generate accurate pips irrespective of whether he is trading in the real time or not. 

It will also help the trader in adjusting the risk level associated with his trading transactions. The most important factor that determines the success or failure of a forex signal provider lies in its strategy adopted. Most of the providers who have gained maximum reputation and have gained a substantial market share are those which adopt a scalping trading strategy. 

This means that they trade with reduced risks and are best suited for small investment activities. However, forex trading platforms, which have higher levels of functionality to offer more robust services so
that they can be used for trading larger amounts of money.