TradeFred Free Trading Signals – Is the Broker being Too Generous?
When you compare many online brokers, you find out that each broker has a way to offer something great to its traders. Some brokers are focused on offering discounts and promotions whereas some pay more attention to creating the best trading conditions. TradeFred has emerged as one of the newest brokers with great understanding of its traders. It offers great promotions, amazing trading conditions, and everything that a trader expects. Among many other things that this broker offers, you get access to free trading signals as well. If you are new to trading, you might not be very surprised to know that.
Let’s get to know about this amazing offer from TradeFred and see why this is a big generosity from any online broker.
Understanding Trading Signals
Once you know about trading signals, you will soon agree that they are some of the most important things for anyone in trading. You can tell from the name that they are some sort of signals. Yes, these are signals that tell you what position you should be taking on a particular trade at a given time. That’s more like a blessing for any new trader in the trading world. When you look at the price charts of the financial assets, they are moving up and down quickly. You are never too sure whether you should go long or short on a trade because in your mind, things might just change in the opposite direction.
Trade signals are the perfect tools to ease your nervousness. These signals are generated after proper analysis of the market. A lot of technical and fundamental analyses of the market are done to find out whether it will be beneficial to go long on a trade or short. Once a particular position has been determined, the trade signal is delivered to the traders on their trading platforms. You can now enter the trade based on the signal. They are not always right but you can expect them to be right for most of the times. You can tell from this explanation that trading signals deliver quite a value.
Why TradeFred Free Trading Signals Are a Generosity
Now, let’s find out if the free trading signals from TradeFred are really something big. To know that, you will first have to go and visit a lot of the online broker websites. This will give you an idea how other brokers treat trading signals. One of the common trends you will notice is that trading signals are not easily accessible by the traders. In most cases, you have to sign up with some advanced account to get access to the trading signals. If you are with a basic account with a small initial deposit, you might not get to see any trading signals at all.
The problem with this approach is that the new traders feel left out. You will see other traders making profitable trades but there will be no one to help you. Another thing is that the broker has not given you any way to get the trading signals you want. If you want to see the trading signals, you will have to change the type of account you have signed up with. Doing so will change everything for you. Changing the account means that you will now have to maintain a bigger minimum deposit in your account.
It starts to make sense once you know all of that. TradeFred is definitely offering something generous here. Once you have signed up with an account, you gain accesss to the trading signals for free. You will know whether you should buy a particular asset or sell it based on the signal you receive. The more important thing is that you get these signals for free no matter how many you want. On the other hand, some brokers limit the number of signals you can receive per day based on the type of account you have chosen. For small accounts, you might just receive one trading signal in a day. That’s not very appreciating for new traders and can make them completely quit the idea of starting a trading career.
Use Trading Signals Wisely
A lot of the things in trading can be confusing for new traders. Take the example of leverage. Many traders believe that leverage is something that only benefits the trader. They have to realize that leverage can amplify losses and profits in the same exact manner. In a similar way, they have to use trading signals realistically. The fact that you are getting free trading signals once you sign up with TradeFred can be a bit tempting and cause you to use them excessively. However, relying completely on trading signals is not the best thing for you to do.
In fact, you will notice on TradeFred’s website that the broker wants you to use signals only realistically. It prevents you from using signals and basing all your trading strategies around them. You must not forget the fact that trading signals are still just predictions created from various analyses. They are not prophecies that are bound to come true at any cost. Sometimes, signals can go completely wrong as well. It is also important to know at this point that TradeFred is not the entity that does the analytical work to create the trading signals for you. The broker uses the trading signals from a third party only to help its traders with successful trades.
The way many online brokers create various account types based only on the number of trading signals accessible in a day, you can say for sure that TradeFred is being quite generous with its offer. It does not want its new traders to open accounts with big initial deposits to gain access to the trading signals. Not to mention, there is no limit on how many trading signals you can receive in a day based on your account type. The broker only wants you to use the trading signals wisely and the way they are supposed to be used. They should only help you with successful trades. You must not stop your personal analyses of price charts and the financial markets before taking a particular position in a trade.