5 Daily Forex Signals Groups
Daily Forex signals are booming in popularity as a means of generating additional income for many individuals around the world. The concept behind daily forex signals is simple, a group of expert traders research what forex pair to buy, and then release a trade for their members follow and hopefully generate a return for themselves.
The immediate benefit of this model is outsourcing the time and expertise required to be a profitable trader to somebody else. This can work well as long as the group you select to join is well-researched.
People tend to want to receive high-quality signals everyday. That’s why in this article, we’re going to take a look at some daily forex signals groups.
However, before we take a look at some of the top forex groups, let’s see exactly what forex signals are and how you can use them to turn a profit.
Daily Forex Signals
Daily forex signals groups predominantly operate in telegram groups with a large number of members. When the provider is ready to issue a trade, they will send out a notification that looks like this:
The call tells you, what forex pair to buy, if to go long or short, and lastly, the take profit targets plus stop loss target.
If you have a good provider that knows what they’re doing, then you should hopefully make an excellent return:
Hopefully, you now have a better idea of how these daily forex signals providers work and how if you follow a good one, how financially positive it can be. But now with that out of the way, let’s get into our list of the top daily forex signals groups.
1. MYC Forex & Commodities Signals (@MYC Signals)
MYC Signals is a top group when it comes to releasing forex signals on a daily basis. This group places a focus on generating consistent returns whilst at the same time minimizing losses. This allows joiners to understand the amount of returns they can expect to make as a result of being a member of their group.
However, they don’t just provide daily forex signals, they also provide signals for commodities such as oil and gold, something that very few other groups offer. This combination of both forex and commodity signals means that their members get a lot more value.
In addition, the group also posts daily market and technical analysis updates so their members fully understand the decision behind every trade so they themselves can become better traders. Furthermore, their signals can be followed using common brokers and platforms such as IC Markets and Oanda.
If you want to join their group and begin your journey of generating income from their forex and commodity signals, then here’s how you can get started with them:
1) If you have telegram be sure to reach out to the admin, @MYCSupportBot, as well as to join their free forex signal group, MYC Forex & Commodities. In this group, you will receive completely free forex and commodity signals so you can see the quality for yourself. Alternatively, if you don’t have Telegram, feel free to contact them via email: [email protected] and they’ll walk you through how to get started.
2) They offer their premium channel: MYC Forex & Commodities VIP for you to join. The membership can be paid via any cryptocurrency of your choice or via card over at their payments page.
3) Once you’re all signed up and you’re a premium member, they’ll work with you to make sure you can follow their signals as easily as possible, as well as to solve any problems you may have. They tout 24/7 customer service so regardless of which time zone you live in, you can be sure that you’ll get a prompt response.
PipChasers is a group that has the sole intention of chasing Pips and generate a return for their premium members on a daily basis. They’re one of the few groups offer trade management services and support so they can help those who aren’t really interested in trading on a day to day basis.
The aim to post one trade a day so members can benefit from their premium service and therefore ensure that they are getting their money’s worth. However, one of the downsides of PipChasers is that they don’t post much in the way of educational material so members are actively able to learn for themselves so that they can become better traders.
3. SSJ Forex Signals
The key word to describe SSJ Forex Signals is that they are a group who go for volume of signals. With an estimated 4 to 7 signals per day, you won’t be short of signals to choose from. However, it’s this volume that sometimes is the group’s downfall. When posting such a large number of signals on a daily basis, it’s only inevitable that the quality suffers from time to time hence why they are appearing slightly lower down on this list.
Furthermore, it means that the group spends very little time educating members by posting useful charts or trading tips because so much of the team’s time is spent looking for signals. However, some members prefer this style as they are able to decide for themselves if or not to follow the signal.
4. Pip Prophet
Through the use of detailed but simple to understand technical analysis, Pip Prophet is a seemingly reputable forex group with that releases a signal everyday. They certainly aren’t one of the larger groups, but their loyal following is an indication of the quality of the signals that the group releases.
They post ample technical analysis charts with clear and simple explanation as to why they may or may not take a certain trade. They have great customer support who are willing to answer any questions you may have regarding their pricing plan or just more generally the wider forex market.
Due to this focus on quality they could certainly release more signals, however, the few signals that they do release tends to perform well so members cannot complain.
5. The Forex Institute
Forex Institute, this group aims to present a higher standard when it comes to the provision of daily forex signals They’re one of the better providers in the space purely due to their technical analysis capability which is of very high quality.
With that being said, they’re a relatively fresh group that needs to further prove themselves when it comes to consistency and profitability. They don’t necessarily post daily which is why they are appearing lower down on this list, but they do also account management services for those interested.
This group can certainly be seen to be a reliable group for those looking for the best forex signals in the space.
The use of daily forex signals by traders to increase their potential returns is becoming more and more popular. This combined with a reliable forex signals provider can result in you being able to generate very consistent and reliable returns.
There are a wide variety of forex signal groups to choose from, and we have introduced you to some of the best forex signals groups that are currently out there. Make sure to do plenty of research before joining a group, and happy trading!