5 Paid Forex Signals Groups
Forex signals and how to follow them have become a fundamental way for individuals to add more to their monthly income on a regular basis. The thinking behind paid forex signals is straightforward. In return for a small fee, a group of professional traders will send you exactly what forex pair to buy, which you can then follow to generate a nice return.
The clear and obvious advantage is the time saved and investment required to be a profitable trader. Outsourcing trading to a group of professionals can be incredibly lucrative so long as you choose a good group to work with.
That’s why in this article, we’ll do a walk through of the best paid forex signals groups that you should consider following so you can start generating meaningful and consistent returns for yourself.
However, before we take a look at those groups, what exactly are paid forex signals and how can you use them to turn a profit?
Paid Forex Signals
Paid forex signals groups are nearly always based in Telegram. In these groups, the provider will issue all trades and send out a notification similar to the below:
The signal notification 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 paid forex signals provider, you should then hopefully come out with a profit like below:
Now that you have a more comprehensive idea of what forex signals are and how they work, it’s paramount to select a good one so that you can truly generate consistent profits. We’ll now get into the list of the top 5 paid forex groups.
1. MYC Forex & Commodities Signals (@MYC Signals)
MYC Signals is a premier paid forex signal group. They place their focus on generating profitable returns on a day to day basis whilst at the same time minimizing on 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.
Furthermore, in addition to forex signals, they also provide signals for commodities such as gold and oil, something that very few other groups offer. This combination of both forex and commodity signals means that their members get a lot more value and receive significantly more signals.
Lastly, 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. Lastly, 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 aims to generate consistent profits for their members hence the name. They’re one of the few groups offering trade management services and support so they can help those who aren’t really interested in trading on a day to day basis.
They 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 that values quantity of signals above all else. With an estimated 4 to 7 signals per day, you certainly won’t be demanding for more. 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
This is a group that heavily uses technical analysis in order to provide their signals. Pip Prophet is a group that wants to release signals on a day to day basis. 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 have several technical analysis charts with 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
The Institute is a paid forex group that endeavors to bring a higher quality when it comes to the provisioning of signals. They’re one of the better providers in the space purely due to their technical analysis capability which is of very high quality.
On the other hand, they can be seen as a relatively new group that needs to prove themselves further still in order to fully cement themselves as a top provider. They don’t necessarily post daily which is why they are appearing lower down on this list, but they do provide account management services for those interested.
Forex signals can be an incredibly profitable way for regular traders to increase their potential returns. However, most groups require a fee in order to receive their signals and are therefore known as paid forex signals groups.
It’s incredibly important to select a high-quality signal group to pay and join which is why the above list will hopefully aid you in making that decision!