Pointers When Looking for Forex Signal Providers
Are you looking for a forex signal provider? There are a few important things to keep in mind. Some signal providers will be better than others, and it's up to you to diligently find the best of these signal providers. Always bear in mind that no one will top you when it comes to taking care of your investment, not even the signal provider you will use.
The first order is to ensure that you are using a reputable signal providers. You can use the Zulu Ranking sytem database of signal providers to start you off. In the United States, you can verify whether or not the signals you are using are being issued by a Commodity Trading Advisor (CTA). You are paying these individuals for their expert advice on options, futures, forex and actual trading of accounts. These persons present themselves as persons who have completed numerous trading courses and examinations. So, it is important that you verify that they are registered with the U.S. Commodity Futures Trading Commission to verify their competence. Most advice you will find will point you to signal providers that source their signals from these trading advisor because they are afterall supposedly par excellence when it comes to training and liability.
Secondly, you should also look into the actual performance of these signal providers. Don't be led by advertisements. Some forex signal providers advertises only hypothetical results. These forex signal providers are merely applying their systems to previous markets, and are guilty of "curve-fitting" where a system is applied in a manner that gives them a better result, than it would normally have in real time trading. You can use the Zulu Ranking System which monitors the performance of these signal providers and rank them according to their pips and average pips.
Be on the lookout for performance as well. You might find funds posting average gains of a few percent monthly less attractive than another claiming two-figures percentage monthly. But the former is certainly more believable. Never let your greed take the better of you.You should always trust practicality over unrealistic claims.
You should also look into the physical location of the service. This is because a forex signal provider from a country that has a strong rule of law and has pertinent rules and regulations on forex trading and other forms of trading is preferable since companies from such countries can be held liable if something goes wrong. Too many forex-related companies are located in countries with less than investor-friendly business laws. There are a number of guides and reports that may help you select your preferred country, but a simple test is whether you will drink locally sourced tap water. If not, then you should think twice: a country that can't pull itself together to have safe drinking water is less likely to be concerned with regulating and rooting out scammers.
Are you ready to find a reliable forex signals provider? Check out the Zulu Ranking System and its wide database of signal providers from around the globe.