Before deciding on a provider of trading signals, we must know what type of leverage they use or is recommended. Since a recommended leverage or the batches that we should use, they should not be less than 0.01 lots for every $ 500 in the account.

If in any group of Forex signals we are recommended to overestimate or use too high margins, it means that this trader runs many risks. That his signals can make us lose all the capital quickly and with a couple of operations played against, so we should start discarding it.

We must also take into account, what kind of strategy it uses, and if it is profitable. We should request or at least study your history of trades and see if it facilitates winning operations and what average profitability is what you get.

The following are the points you need to take into consideration while hiring any Forex Signals Providers.

Type of operation: Before launching to hire a Forex Signals Australia, we must know the type of operation used by the trader:

scalping, intraday or swing. Since a scalping operator is not convenient for the simple fact that we should be permanently aware of your alerts since in minutes we can lose that entry or be a late entry and lose most of the profitability.

An intraday trader is a similar case since its signals should be previously studied. It should provide us with a technical analysis of its Forex signals trial before the entrances explaining what the technical reason for making that market entry is.

Another point to consider is spread, since if we work with a broker without commissions. But with high spreads and we look for short operations of 50-70 pips. But the broker charges us 20 points for opening the operation, we are losing 40% of the profitability of that trade, so It becomes a sign of unprofitable.

And finally, the Swing type trader is the most convenient to follow a group of signals. It allows us not to depend on being aware of their inputs and the technical analysis should be carried out with days sometimes even weeks beforehand, waiting for the better opportunity to enter the market and be able to place our entrance and not worry about it until reaching the objectives.

A tip: Before starting to follow any channel of Forex signals and analysis by Telegram or Whatsapp, we must study the trader or traders in question that carry that channel. We must learn what kind of strategy they follow and if it fits our idea of operating system.