Signal providers have become increasingly popular in recent years as more and more traders are seeking to improve their investment performance by leveraging trading signals. The increased complexity of the markets, rise in popularity of online trading, increased information traffic and growing awareness of the benefit of trading signals have contributed to increasing players in the field. With more and more options, it becomes increasingly difficult to find the best trading signal provider for your needs.
In this blog, we have put together a list of the top considerations to bear in mind when choosing your trading signals provider.
Top considerations when choosing the best trading signal provider
Here are eight of the top considerations to keep in mind when comparing trading signal providers. With these factors in mind, you should be able to select the best trading signal provider to meet your needs.
Performance is the first and most evident thing to consider. Finding a trading signal provider that provides high returns is vital, but those returns need to not only occur quickly; they should also occur consistently. When comparing the performance of trading signals, it is important to consider whether the returns are unlevered or not.
As an example, One-Signal, a trading signal provider with 30 years of investment experience, has returned 77.9% for traders since 2000, and 28.2% since 2015, compared to its reference index of 5.3% and 8.9% respectively, demonstrating outstanding performance for over 20 years.
When it comes to fees, trading signal providers often charge fees for their services, so it’s important to think about how much you’re willing to pay for their service. The best trading signal provider should offer a reasonable price for their services, but keep in mind that you need to get what you pay for.
One-Signal offers users a subscription service with various tiers that charge different amounts for different lengths of time, as well as the option to cancel at any moment without incurring any fees. With our two distinct solutions available at various pricing points, One-Signal really does offer something for everyone.
Different trading signal providers use different strategies to generate their trading signals. Some providers focus on technical analysis, while others use fundamental analysis or a combination of both. Considering a provider’s strategy is an important part of deciding whether they’re the best provider for you. Additionally, you must also think about your own trading style and whether their strategic approach aligns with your own. It’s also important to note that some signals are valid for only one minute, some for a few hours, or some for one day – this can influence your own timings and schedule, so find out the validity duration of the signals your potential provider offers.
One-Signal relies purely on sentiment indicators and follows the contrarian investing strategy. Our algorithm is not based on any fundamental analysis, so as to avoid valuation inaccuracies, nor any technical analysis, so as to avoid self-fulfilling prophecies. Additionally, it does not use common indicators, so as to also avoid unreliable trend following.
It’s important to choose a signal provider that is transparent about their methods, processes, and strategies so that you can be confident that they’re operating above board and providing you with accurate information for trading activity. When considering providers, make sure that they are open about their strategies and results and avoid those that are secretive or make unrealistic promises.
For us at One-Signal, transparency is a must and the strategy behind our algorithm is publicly available. Additionally, our team is available and ready to answer any and all questions prospective clients might have.
Experience and trust
As with all professional partnerships between clients and service providers, experience and trust are vital, and the same is true for trading signal providers. When considering whether a trading signal provider is the best option for you, consider who is behind the trading signals and who is servicing the algorithm. Are there historical signals? Who is using the trading signals?
One-Signal was developed over 15 years ago by the CEO and Founder Ara Yalmanian. He has been trading based on One-Signal’s principles since the development of the algorithm. As such, our clients get the full benefit of our experience in our trade signals, which can be trusted because of our historical – and ongoing – trading expertise.
Another key consideration when looking for the best trading signals provider for your needs is customer support. You never want to be stranded in a position where you need help with your trading signal account, but no support is available. Consider the level of customer support provided by the potential signal provider, looking specifically at the frequency of availability of support, and over which channels you can access the support. The top trading signal providers offer multiple channels of communication and are responsive to questions and concerns.
One-Signal is a family-owned business, meaning that our success depends on our clients’ success. The company, therefore, puts a lot of importance on customer support and has a dedicated customer support team available to answer any queries over email, Facebook Messenger, or phone.
Reputation is a key priority for any service provider looking to grow their business and a useful indicator of suitability for any potential client looking to partner with them. When considering a trading signal provider, it’s important to take the time to do some research on the signal provider’s reputation in the market. Look for reviews and testimonials online from other users and consider the provider’s overall credibility and trustworthiness. This may just help you separate the best trading signal providers from the rest.
One-Signal not only has clients in over 10 countries, but we also collaborate with a wealth manager to provide effective trade execution services to time-constrained or inexperienced individuals. This approach means that we are able to support both seasoned and new traders in achieving trade return success.
It’s often worth trying a service out for an initial time period before committing to a longer-term agreement with the service provider. When comparing trading signal providers, it is recommended that you try out their service on a trial basis first before committing to a long-term subscription. This will allow you to see how the service performs and whether the trading signal provider is the best fit for your needs.
One-Signal offers a free six-week trial, however, you’ll need to reach out to us should you be interested. Simply fill out the contact us form and let us know you’re interested in a free trial. No data, except for your name and email address, is collected, meaning that once the trial expires, you won’t be charged.
Conclusion: Start leveraging trading signals effectively with the best trading signals provider
Trading signals are incredibly powerful tools for trading effectively, and with the right provider, any trader, experienced or not, should be able to start leveraging them for maximum trade returns. However, choosing the best trading signals provider is the first step to achieving this. When considering partners, keep the above-mentioned considerations in mind, as these will be useful in guiding your decision and helping you ensure you pick the top trading signals provider for your needs.
At One-Signal, we pride ourselves on providing timely indicators that enable you to place smarter trades. Our stock market sentiment indicators provide daily trading signals for better trading returns, and our trading signals are automated for simplified trade decisions making.