Best Forex Signal Providers

Can you actually make money using forex signal providers?

There are hundreds of forex signal providers who claim that they will make you a ton of money by following their signals. But are they profitable and can you make money by following forex signal providers?

Well, we decided to put 10 of the best forex signal providers to the test and back test their performance. It took us a lot of time to gather the data and prepare the results, but we hope that this article will help people who are still considering using forex signal providers as part of their strategy.

The Best Forex Signal Providers – Performance Table

Table here

10 of the Best Forex Signal Providers – Breakdown

  1. Learn2Trade

    Learn2Trade is an educational website that provides signals as part of their offering. Their website contains lots of useful information intended to teach some of the fundamentals of trading as well as a forex trading course which we also recommend. In terms of their forex signals, they are sent via telegram but contain lots of analysis such as image mark ups and opinions on the current market. They are one of the most educational forex signal providers we have ever tested so if you would like to learn how to trade forex then this is probably the signal provider for you. In terms of their actual signals, we back tested them for 6 months and found the following results.

  2. 1000pipbuilder

    The 1000 pip builder service is a very popular forex signal provider with an impressive performance that is tracked and verified on MyFxBook. The 1000 pip builder system combines 3 trading strategies. Trend Capture is the first and main strategy it uses. This involves trading with the trend with entries determined by combining support / resistance zones, chart patterns and short-term momentum. The second strategy is what they call the Range Trap which is a short-medium term range trading strategy focuses on identifying clear support / resistance zones and the using unique chart and candle pattern analysis to trade bounces from the top and bottom of the range. The Third Strategy is called Momentum Rider and is all about finding reversals early (like the V-Power Forex Robot we recommend). In terms of the forex signals themselves, they are quite basic in terms of just giving you entries however they do seem to work. After back testing the results of 1000 pip builder, we discovered the following.

  3. M15 signals

    M15 signals has running since 2018 and has over 450 positive reviews on Trust Pilot. There is not too much information on the specific strategy they use however they do claim that they have a higher accuracy rate than their competitors. At the time of writing over 26k people are subscribed to their Telegram channel so we felt it was worth testing. We back tested M15 signals and found the following performance.

  4. FX Profit Signals

    FX Profit Signals is another popular forex signal provider that claims to have a 75-80% win rate. The website is rich in information about the strategy which is called the secret BB strategy. This strategy uses their Bollinger band indicator and provides signal alerts based on the 4-hour time frame. Because of this, the average pip win amount is higher than your typical signal provider but also the trades stay open for longer. What is particularly nice about FX Profit Signals is that you can buy a training course that teaches the strategy and indicators/EAs to help automate your trading. The Forex signals could be used to compliment your learning until you understand the system well enough to identify trades yourself. We like this approach in terms of the analysis, we analysed there free trading signals for the past 6 months and found the following results.

  5. Toolstrades

    ToolsTrades is a forex signal provider that has developed some cool technology when it comes to sharing signals. They have over 150 positive reviews on Trust Pilot and offer free signals to get started. Whilst there is a lot of information on the website about trading and their results, we could not find a clear description about their trading strategy. They state on their home page “more than 200 signals generated daily” which we imagine was supposed to impress us but if anything, it raises some concerns about the quality of the signals. So, we decided to try out some for their signals and this is what we found.

  6. Mamba FX

    We decided to test MambaFX after watching some of he is YouTube videos. It is clear that MambaFX knows he’s stuff when it comes to forex trading and offers lots of valuable lessons for traders. Knowing the trader behind the signal is important and helps subscribers understand the strategy. We tested MambaFX signals for the past 6 months and found the following results.

  7. Forex Lens

    Forex Lens is an educational platform that also offer signals via Discord. We subscribed to their Pro Trader offering which gives you a year access to their live trading sessions (they run 3 a day lasting about an hour), hours of educational videos via their Portal and forex trading signals. The best thing about Forex Lens is that they offer several trading styles. For example, the 2 traders we are following are RP Forex (Price Action) and Institute Trader (Smart Money). These 2 traders are extremely talented, and Institute Trader in particular has taught us a lot about how Smart Money moves the market and what to look out for. The whole idea behind Forex Lens is not that you just blindly follow their signals but that you use them as a way of eventually going on your own! They want you to stop using Forex Lens after about 6 months. As for the signals themselves, we could not back test, but they share their results publicly which can be found here.

  8. Profit forex signals

    Profit Forex Signals claims to have an 90%-win rate and has over 130 positive reviews on Trustpilot. They make some bold claims on their website such as 10,000 pips per month which to be honest, sounds a little too good to be true (and you know what they say about that!). But in Profit Forex Signals defence they do have verified results from MyFxBook although many of the accounts are running on demo accounts and the 2 live accounts are very small (which is worrying). Looking at their results on MyFxBook they seem to be executed using an EA and using scalping strategies. So, we decided to look at signal provider to see how that performed and this is what we found.

  9. FX premiere

    FX Premiere is quite a unique forex signal provider in that its sources signals from 50 different places and shares them. The telegram channel has over 15,300 members so it is certainly popular amongst traders. FX Premiere Signals have over 2300 positive reviews on Trustpilot and people are making profit from the signals. As they do not generate their own signals, there is little by the way of education or strategy which is one of the major downsides of this service. We decided to back test the free signals that they provide, and this is what we found.

  10. SV3 trading

    SV3 trading reports to have a 70-90% win rate and has over 1200 members subscribed to their VIP signals. Their website is very well put together but unfortunately does not contain much information about the strategy they are using or does not have much educational content. However, the signals provided do come with mark up images and descriptions so you can see how they are entering trades. We decided to test their free signals, and these are the results we found:


We wrote this article to explore whether people can make money following forex signal providers. I think the answer to that questions are certainly yes, but you should consider the value of just blindly following forex signals. Past performances do not guarantee future results so what would happen if a forex signals performance started to deteriorate? Would you just find another forex signal and hope to make money again? I think the most valuable forex signal providers are those that teach you the strategy that they are providing. This is particularly useful when things are not going so well, at least you all understand why. Personally, I believe understanding the forex signal providers strategy will give you more confidence to invest higher sums of capital which in turn will make you a more profitable copy trader.

If you would like us to test any forex signal providers that you are considering, make sure to drop us a comment below.

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