This services are run by forex trading experts who possess a high level of market analysis experience where they can combine several indicators who possess a high level of market analysis experience where they can combine several indicators such as moving averages, trend lines, MACD, stochastic…etc. in order to generate an entry and exit signals which implies a high winning probability.
Most forex signal providers offer their signals only for the popular currency pairs such as: EUR/USD, USD/JPY, GBP/USD and USD/CHF. These currency pairs constitute about %80 of the market volume and are traded extensively by the majority of forex traders everywhere.
The live forex signals providers offer their services for the public traders on a monthly subscription basis, where they send their signals out to their members through emails, SMS, or cell phone. The trader may be charged a subscription fee which ranges between $50 and $150 per month based on the service quality and the numbers of currency pairs they provide trading signals for.
The forex signal providers just send the entry price, stop loss price and take profit price. They do not offer any additional technical information about the method they used to generate their entry and exit signals. This makes the trader blindly follow their signals without being able to make a proper judgment on their signals quality unless he or she has a high degree of technical analysis experience.