Forex is an extremely attractive method of trading, in part because so many entrepreneurs and influencers online are talking about how they’ve tried it and made big money. Of course, while some of these people are legitimate, there are also a lot of scammers simply looking for ways to make some extra cash from people looking for genuine help.
With stories of so many people being scammed out of money they handed over to traders to manage, it’s no wonder that Forex Signals often gets tarnished with the same brush. Fortunately, they are not the same thing, and any good Forex Signals app won’t try to manage your cash for you.
What are Forex Signals?
Forex signals are simply trading recommendations and suggestions. They’re “signals” more experienced traders have spotted and share with their audience for a fee. You can find free Forex signals, but any good trader isn’t going to offer up their secrets for free – not forever, anyway.
Forex signals can be passed around in any format, from emails to text messages and notifications on your phone, but there are now a number of dedicated apps coming onto the market to make it much easier to manage your Forex trades.
Will Forex Signals Always Make Me Money?
Of course, we all want to make big money when we get into Forex trading. If we didn’t, it wouldn’t be worth the risk and we’d be better off simply putting the money in a savings account or mutual fund. But while we want that big reward, we have to understand that the market is volatile by nature, and cannot be predicted every single time. If a trader or Forex signals platform makes promises like that to you, walk away. Even Warren Buffet can’t get every trade right.
What Should You Look for in a Legitimate Forex Signals App?
There are a few different things you need to be looking out for:
- Experienced traders behind the app
- Traders behind the app who are happy to put their name and face to it
- They’re in the same time zone as you or when you’re happy to be awake (no sense paying for signals if you can’t act on them until it’s too late!)
- Fee-free Forex signals aren’t worth the money you didn’t pay for them. Why would any good trader give away their signals for any longer than a free trial? They won’t, and so you should be skeptical if you’re being promised otherwise
Maksim Konstantinov and Nina Konstantinova (Max and Ninel) are professional traders with a combined experience of over 15 years in finance and are joining forces to create FXBro, a signals app that’s accessible enough for beginners, but doesn’t cut corners.
FXBro is currently in development and is expected to release in October 2020. FXBro is set to meet all our requirements for a legitimate signals app. Max and Ninel are experienced traders with results and are more than happy to put their names and faces on this new project. (Check them out on Instagram @forex and @my_fx_journey)
They’ll be sharing their expertise through the app’s membership, and through their course, FXBro Academy. The Academy is going to be one of the best resources available to new traders because they’ll combine their signals with training that will show you exactly how to trade, without ever touching your money. If you want to learn to trade and make money, you’ve got to be the one to do it. No one is going to look after your money like you are!
The monthly subscription fee is serious money because the app isn’t for dabblers. The subscription fee to see their signals is $150, and if you’re all-in and want to join the academy you’ll need $800. It’s worth noting, however, that if these prices sound steep to you, you may not be ready for trading Forex.
Will Joining FXBro Make Trading Risk-Free?
No, of course not, and any app that claims it can do so is lying. Trading is inherently high-risk. You’ve got to have the capital to play with and be willing to lose as you learn before you start seeing the results you’re dreaming of. A course like FXBro Academy will speed up this process significantly, but it can’t put you on a winning streak.
If you’re not comfortable with risk or you are thinking of using your rent money to make a quick buck, you’re in the wrong place. Forex trading is for serious traders only, and while the Academy will help beginners get a great start, you must have the right mindset going in.
FXBro is launching in October, and so if you’re looking to take your trading to the next step or finally make a start with legitimate, experienced traders behind you, you need to join at launch. To be notified about the launch of FXBro, simply head to FXBro.com to sign up.