If you do not have time and dedication to learn forex trading by yourself,it is highly recommended you follow traders signals who have at least verifiable trading records. It is always desirable to check for 3 years trading history but given the scarcity of finding good traders,I would suggest at least 18 months history.
When looking for signals do NOT compare if it is $49/mo or $99/mo. If your trading capital is so small that,$100 monthly charges may take away the majority of profit,here are the few free signals options I suggest below. If you have risk capital more than 5000$,I would suggest to look for managed forex rather than signals. Check my managed forex guide for further details.
Zulutrade : Here you can follow other signal providers account in your account for “almost” free.(Signal providers get compensated from brokerages rather than directly from you).
A word of caution. It takes skill to choose good traders from Zulu as their ranking mechanism has severe limitation. I will cover how exactly to choose a provider from Zulu in either a video or post soon. Just keep in mind look for traders (Keep in mind good trader does NOT mean he does not lose/no losing month,it means he has the edge to beat market over time)
- Who have at least 12 months of smooth equity curve
- Does not open more than 5-6 positions at a time.
- Does not have 10+ other accounts which are bombed.
- Have a strategy description which must not describe it as 100% automatic.
Here are the few traders who meet such such criteria now.(Jan 15)
You can find more traders,if you relax around my criteria listed above or go beyond top 100 rankings.
I do send monthly/weekly update about zulu traders from time to time. You can keep up with those by subscribing my newsletter.