Forex signal service gives the trading persons the suggestion whether it will be profitable to make a trade on a specific pair of currencies at a specific time. These suggestions are generally generated by the human analyst or a robot. As profit and loss in trading depends on a specific time of trading these suggestions should be passed on to the subscribers within seconds. So the common method of communication here is the SMS, Tweets, E-mails, etc.
There are various companies that offer the forex signal service. This happens during the time of installation. Some offer this for free of cost from the time of joining the trading. These people keep marking a good trade and the other traders under them can copy their trade. This tells people to buy a trade or to sell it or when to close the trade.
These markings are generally done by the team of experts who are in this field for many years. There are different types of forex trade services. They are OB/OS which is the basic one; this says whether the currency is over bought or oversold, SL/TP which means stop loss and take profit, partial buy/sell- this says the trader to sell or buy few shares of him to retain the profit, volatility-which gives the security of certain market shares.
One of the best ways for a person starting out is to use the expertise of a reliable forex signal service to increase the chance of success. It is always not recommended for a beginner to subscribe for such services. In most of the real time trading in fraction of seconds the strategy may change which may lead to either profit or even loss. Some proven experts may give out best suggestions. But this is the costly service, so one should carefully choose the best forex signal services.