Types Of Forex Signal Service

There are generally three types of forex signal services – SMS signals, Human automated signals, and EA automated signals. 

Three Common Types Of Forex Signal Services

Although SMS signals have been outdated and not many professional forex signal services are offering now, they are still some good services who are providing SMS as a form of delivering their forex signals. SMS signals are mostly tailored for middle aged men that are not familiar with technologies in the modern world. A major disadvantage of SMS Forex signals is that there's always a lag time in Forex signals delivery and between the process when you receive and execute the Forex signals. In the fast moving market of the currency exchange, a minute of delay would mean a difference in thousand of dollars. 

Secondly, we have human automated signals. Among the 3 general categories of forex signals, Human Automated Forex signals are said to be the most reliable of all. To further illustrate, human automated Forex signals are Forex signals that's delivered directly to your MetaTrader Trading platform – automatically. In contrast to the EA Automated Forex signals, it is being monitored and traded by real Forex traders. The only disadvantages of this type of Forex signal service is that it is always expensive to subscribe to one.

Finally, EA automated Forex signals was once the trend for many Forex traders. These Forex signals are being generated and traded by Forex Software – also known as Forex Robots. In essence, they are a set of rules that are being programmed into algorithms. When the market reaches certain predetermined conditions, a trade will be trigerred accordingly. In comparison to the Human automated signals, this particular Forex signals category is the least influenced by psychological hindrances. 

However, EA automated Forex signals are highly risky because they do not think like humans do and in many cases, your accounts may be blown even without knowing it. Furthermore, the market conditions keep changing and these EA will need to be constantly updated by their developer in order to produce long term profits. 

The Most Popular Type Of Forex Signal Service

The above are the 3 of the most common Forex signal services that you will find on the market, and while each of them may possess their respective pros and cons, I'm highly leaning towards Human Automated Forex Signals because the delivery process is faster and much more effiecient. Furthermore, we have to realized that we are buying on the experts opinions and experiences, and not a set of programming rules found in the EA Forex signals. I hope I have made my point here, and I wish you find in useful in your respective Forex trading adventures!