Then, there are forex trading signal providers which provide signals that translate directly as orders for those forex investors who choose to employ their services. Simply put, itís like having a forex robot trading your account for you. But the major difference is that the signals, where the orders are based upon, are given out by human forex experts. These human experts, who serve as the forex trading signal providers, base the signals that they give out on their own technical and fundamental analysis. Depending on how you view purely mechanical trading robots, there are some forex investors who still prefer the human factor in evaluating trading decisions.
When the signal providers send out their trading signals, these are translated into trading orders directly by the forex investorís forex broker. So, it becomes automatic. The order is entered in behalf of the investor and shall be closed once another signal is sent out by the signal provider. All the forex investor has to do is to monitor the trades and evaluate is he is being profitable with the signals sent out by his provider.
This is a fairly new innovation in the forex investment industry. And the best thing about this is that the services are free. The forex trading signal providers give out their signals for free. And the fore brokers convert those signals into trades also for free.
But the way it works is beneficial for everyone involved. The forex broker gets more business with every trade taken. The Forex trading signal provider gets commission from the broker for every signal that he sends out. And the forex investor, at no extra cost, gets the advice of a forex expert to improve his forex trading and hopefully, accumulate profits for his forex trading account.