If you are interested in a forex signals app that costs no money, then this ZForex Signals Review is for you.
ZForex is a popular mobile app that offers users forex signals..
Unfamiliar with what forex signals are?
Forex signals are suggestions (provided by the signals provider) of what currency pair to enter or exit at a given time.
Typically, these are provided by either:
- An automated forex robot
- A human analyst (or team of analysts)
The signals may be sent out to email or text (SMS), among other mediums.
You will find that these signal services are usually paid for via a monthly subscription.
However, some signals services (such as ZForex.net) are free.
The question usually comes down to this:
If a signals service is free, is it any good?
I wondered that myself, so I decided to take a closer look at the ZForex app and determine whether it is worth following or not.
Let’s dive in.
ZForex Signals Review – UPDATED 2020
ZForex Signals Review – UPDATED 2020 – Best Forex Alerts App
Despite way too many advertisements, the ZForex Signals App is a solid forex signals provider, especially considering it's free.
Operating System: iOS, Android
Application Category: Forex Signals
The best part about ZForex is that it is a mobile app.
This means you can get push notifications on-the-go… this means you can go about your day and will be automatically alerted when a great trade opportunity appears.
(This is why I like forex signals so much – I don’t have to spend my day sitting in front of my desk).
As long as you are able to act quickly then you can benefit from forex signals.
This means if you have a mobile trading app, then you can instantly make a trade from your phone while you’re out for the day.
If you don’t already have a forex trading app for your mobile phone, you should.
(Go read our guide on the best forex trading apps).
Now, the question is whether ZForex Signals are worth following or not.
If you go to the App Store, it has some pretty good reviews:
BUT, App Store reviews don’t always mean much.
So I actually followed the ZForex signals for a while to see how they perform.
Before I show you how well they did, let’s first go over how to set up ZForex Signals in the first place.
ZForex.net – Getting Started
ZForex is available on the Apple App Store and Google Play.
This is good!
It means if you have either an Android or an iPhone, you can download ZForex for free.
Simply search “ZForex” on your app store and it should pop up.
After you install it, go ahead and open it.
It should look something like this:
As you’ll see, the layout is pretty self-explanatory.
The homepage tells you:
- The currency pair to trade
- Whether to buy/sell
It also tells you whether a specific trade is ‘active’ or not – as in, whether you should still get in on the trade or not.
The app also tells you whether to buy or sell the currency pair.
It’s important to click on an active signal to learn more.
When you click on a signal, the next page (if the trade is active) will tell you:
- The action (buy/sell)
- The value to open at
- The value to close at
- The pips
And that’s all you really need.
It will look like this:
It’s pretty simple.
One more thing:
It’s very important that you turn on notifications if you hope to get the most out of this signals app.
To do this, click the ‘note’ button on the top left of the app, and you will be brought to a page that looks like this:
Make sure the ‘Enable Notifications’ toggle is switched to ON.
If it isn’t, then you will miss out on the alerts you get when a new signal is posted.
(This is the main benefit of the signals coming from an app, and forex signals in general!)
This is all you really need to get started.
Like I said, it is very simple and straightforward.
Now let’s look at what really matters… how the ZForex Signals perform.
ZForex Signals Performance & Tracksheet
There are no publically-available track records or performance reports to analyze how the ZForex.net signals have performed over the past year or so.
BUT, that said, we are able to see how the signals have done in recent time by simply following each and every signal and seeing how it performs.
I did just that.
Over the last few days, I traded (with a low amount of capital) following the ZForex Signals.
A 3% increase in capital.
Nothing crazy, but still, not bad!
Now, obviously, this is such a small sample that I cannot personally endorse this signals service.
From everything available online about these signals, it seems that they can be trusted.
I recommend trading these signals on a demo account for a while to test the accuracy of these signals.
The longer you trade demo, then the more sure you can be in investing your real forex-trading money and follow these signals.
ZForex is a great option for beginner forex traders who want some help choosing their trades.
As determined from the performance record, the signals are quite accurate – while you may not necessarily get as much out this app as you would from a paid signals app, I am impressed by these free forex signals.
That said, there are some downsides:
For one, the amount of advertisements you get while using this app is insane.
Seriously – the ads really get in the way when you are trying to navigate the interface.
Ultimately, this is excusable considering the app is free.
But, it is a minor complaint and is especially annoying when you are in a rush, trying to get the info you need to make a trade very quickly.
All in all, the ZForex Signals App is very good and reliable, and I recommend it to anyone looking for help with trading but aren’t prepared to pay for a signals provider.
Learn to Trade Forex
While forex signals services (such as ZForex) are excellent for beginner to intermediate traders who want to ‘trade like a pro’, it won’t actually teach you how to trade forex.
If you are new to the game and want to learn how you can consistently and accurately make profitable trades, then go ahead and read our Forex Mentor Pro Review.
This is a program that educates you on everything you need to know and more on how to earn a great living solely from trading forex.
Also, if you haven’t already, make sure to grab our Free Forex Trading Fortunes PDF – simply enter your email address below to get it sent straight to your inbox.