How to Identify a Good Forex Signal Service free essay sample

There are more services listed online than one could ever have the time to look at or try out, but it is still important to visit a service’s website to see what the provider has to say for itself. If the provider makes outrageous claims, especially promises that the subscriber’s cost will be small, keep looking. Studying reviews of providers provided by forex trading clearinghouses might be helpful. One feature to look for in reviews is a record of good service. A potential subscriber should put a forex signal provider’s customer service to the test. This can be done by calling, emailing or sending a letter to the firm and monitoring how long it takes for the provider to respond. The quality of the response and the subscriber’s interaction with the provider should be evaluated as well. Is the service prompt, courteous and helpful? If these basic qualities are present then the provider should stay on the list of potentials. We will write a custom essay sample on How to Identify a Good Forex Signal Service or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Another item to look at in a forex signal service is profit record. Obviously if the provider is not making money, then it will not be able to help anyone else make place trades to make money either! Providers may disclose or offer their records as proof, but it would be better if a subscriber could locate profit records generated by other sources such as past subscribers or income reports on his or her own, and then decide accordingly. Subscribers must note the pattern and timing of a signal service provider’s trades and calls. Signals should be useful for a longer period (i. e. a day) than not (i. e. minutes). More time-enduring signals are an indication of more sound information, and information is the primary reason a subscriber utilizes a forex signal service in the first place! The frequency of trade signals and calls from the provider to subscriber should not be too high. Frequent signals are an indication of less sound information and decisions, and also show that the provider is not as profitable as it should be. It is essential to identify a forex signal service which calls infrequently with good signals and a record of profits, no matter the method of signal alerts. Forex and ii level trading assistance is another item which must be evaluated. Highly specific types of tools are required for reading level ii quotes. A good service includes such assistance Some final points to consider when looking at different forex signal providers: The provider should indicate spread in its recommendations and how it will affect the trading system. There should be a record of average positions of all currencies for each month. Less scrupulous service providers might â€Å"alter† their records to highlight only positive results. If a subscriber keeps all of the above factors in mind when selecting a forex signal service, he or she should be able to feel confident about which provider is eventually chosen for trading alerts.