How to Choose the Best Forex Signals App
Forex trading signals apps are ever increasing in popularity. However, it’s vital to team up with an outstanding team of traders and analysts to provide you with the best forex signals possible. This guide will help you choose the best forex signals app (and forex signals provider) to drive your investment forward and upward!
What to Consider When Choosing Your Best Forex Signal App?
An online search will show you several forex signals providers that you can choose from – each one claiming that they offer the best features and profitability. Make sure you spend some time doing your research before finalizing the app to help you trade the forex market. Profits matter, sure, but remember, no one can make guarantees for profits in the highly unpredictable and volatile world of forex trading. Don’t be disheartened though – that’s what makes forex trading so exciting and gives you the opportunity to earn profits! Choosing the right forex signals app will improve your chances of entering profitable trades and limiting losses. In this age of information overload, here are a few important factors you need to examine before making your decision on the best signals app to depend on.
1. Consistent Profits
The best forex signals provider should obviously be able to produce good, consistent trading results. To achieve this is no easy task and requires true professionalism by a team of expert analysts. These individuals need to know the markets like the back of their hand and should be able to
adapt to ever-changing market conditions. To provide daily forex signals of the highest quality requires a persistent, focused effort and should only be performed by seasoned market professionals.
An outstanding forex signals provider knows how to adapt to any market condition.
2. Limited Drawdown
A highly successful forex signals app will not only yield exceptional performance in terms of equity growth but will accomplish this with negligible drawdowns. This means that the signals app will issue few consecutive losing trades, creating a steady equity growth curve. Of course, the size of the winning and losing trades also matter and not the quantity only. A good signals app knows how to strike the right balance between drawdowns and
forex risk management – undertaking lesser risk of course means lesser drawdown but it can also reduce profitability. On the other hand, an app that takes on more risk can offer you a shot at raking in higher profits, but it also comes with the likelihood of more drawdown. The right balance is up to you – how much risk are you willing to take with your capital?
3. Sufficient Frequency of Trading Signals
When searching for the best forex signals on the market, traders need to look for a forex signals app that issues trading signals on a frequent basis.
Why does this matter? Well, an excellent
trading signals strategy with a win rate of, for example, 65%, may perform better or worse than its long-term average when only a few trades are executed. For instance, when only three trades are placed, there is a reasonable chance that all three may lose (or win). However, when 1000 trades have been opened and closed using this signals strategy, the win rate will most probably be relatively close to the long-term average of 65%.
So, with a forex signals app that issues good trade alerts on a frequent basis, traders will experience the consistent results of a ‘large sample size’ much sooner than with a signals provider who issues trading signals irregularly.
Another benefit of using frequently provided forex signals is that if you perhaps miss one or two signals, you won’t have to wait too long for the next one to appear. This will help you to achieve consistency with your trading.
Trading signals should be released frequently enough.
4. A Robust Track Record
Before using just any forex signals app, traders need to make sure it has a good track record. FX Leaders has been providing some of the best forex signals in the industry since 2011. Every year has yielded thousands of pips.
5. Instrument Diversification
A forex signals app that provides signals on a variety of financial instruments may increase your level of diversification. FX Leaders provides phenomenal trading signals on currency pairs as well as commodities, cryptocurrencies, and stock indices, giving you confident access to a variety of financial instruments across different asset classes. To find a
reliable forex broker who offers all of these instruments, simply follow this link.
6. User Friendly and Time Saving Interface
The factors we listed above help you gauge the quality of the forex signals provider. In addition to these, the overall user experience matters just as much. If you find a signals app that boasts a great track record but you find it confusing to navigate, you’ll waste precious time and energy which could otherwise have been used in placing trades. An ideal forex signals app should have a simple, easy to use UI that works for you – whether you are a casual trader or a professional one. This will help you find forex signals comfortably and let you focus your efforts on analysis towards finding exciting trading opportunities instead. The user experience should be seamless and just as smooth, irrespective of the device you use – be it an Android-powered smartphone or an iPhone. We suggest downloading the app and experimenting with it for a few days to see how comfortable you find it to use. If you cannot figure out all features of the signals app even after a few days, it’s best to move on to something simpler!
More About the FX Leaders Forex Signals App
FX Leaders goes to great lengths to provide the best forex signals possible. The analysts in our forex signals department are seasoned market professionals with abundant trading experience. The combination of our analysts’ expertise with our easy-to-use signals interface is what makes our forex signals app brilliant. Not to mention the variety of financial instruments covered by these trading stars.
The FX Leaders trading signals terminal is really easy to use.
Through the years, FX Leaders has provided consistently profitable forex signals with limited drawdown periods. The frequency of our trading signals is really good with an average of more than two signals per day.
What are you waiting for? Trade a wide range of markets with the
FX Leaders forex signals app today!