Top 5 Forex Signals Services
Forex signals services are offered by a group of professional traders to retails traders who don’t know as much about the markets. The basic idea is that the retail traders are able to follow the signals released by the professional traders with the intention of returning a profit.
These sorts of forex signals services are popping up everywhere and actively being used by regular traders because they recognise that they do stand a chance to make serious returns so long as they are able to select the correct signal service. That’s why in this article, we will walk you through the best signal services currently operating so you can maximise the amount of money you’re able to earn.
However, before listing out the top forex signals services, let’s quickly explain exactly what forex signals are and how people all over the world are using them to make a profit.
Forex Signals Services
The best forex signals services predominantly operate in telegram groups with several hundred members. When a professional trader is ready to release a trade, they will send out a notification that looks like this:
The call tells you, what forex pair to buy, whether to go short or long, along with the take profit targets and stop loss target.
If you’ve chosen a solid forex signals service then you should hopefully make a nice return that looks like the image below:
Now that you have a better understanding of what forex signals are and how using them can be profitable, we’ll now get into a list of the top forex signal services in the space.
1. MYC Forex & Commodities Signals (@MYC Signals)
MYC Signals is a top signal service that have been in operation for quite some time. Their aim is to really help each of their members make consistent and sustainable income as a result of following their forex signals. Because of this, you can somewhat predict the returns you can expect make with them on a month to month basis.
In addition, MYC Signals doesn't only provide forex signals, they also provide signal services for commodities such as oil and gold, something that very few other groups offer. This combination of both forex and commodity signals mean that their members get a lot more value from being a member.
In addition, MYC also post 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.
2. Royal Forex Signals
Royal Forex Signals mostly offer premium forex signals. This is unusual when compared to the vast majority of other groups who do combination of both free and paid forex signals. Instead, Royal Forex post high quality charts and trade setups that they think is good.
These published charts are very simple to understand and highlight common patterns to look out for such as: head and shoulders and double tops. Each chart comes with a summary of the key themes that traders should have in mind when trading the forex markets themselves. These charts are of great value such that a trader may well initiate a trade after looking at one.
3. Tugas FX Signals
Tugas is smaller when compared to a lot of other forex signals services, but they’re also one of the best well run. The group collates a week’s worth of performance into a single post so members are able to easily see for themselves the performance of their premium signals.
Although with that being said, Tugas does not post any free signals at all and are more than content to post the result of trades from their premium service in order to encourage members to sign up. Furthermore, they also post no charts or educational content in the free channel.
Usually you like to see free signals from a group so you’re able to figure out what the performance will be like in the premium group. Unfortunately this is something Tugas does not do.
4. Wall Street Forex Signals
Wall Street FX is one of the large signals services groups out there that release both free and premium signals. Although, the performance of this group isn’t necessarily always stellar, however, the team is always quick to own up to it which is reassuring to see.
Furthermore, the group does do a lot of advertising for their paid service in their free group in order to get people to move over. However, they could just as easily post educational technical analysis content. To summarise, they are a good group to receive both free and premium signals, however, they could do more in terms of educational content.
PipChasers chase pips in order ensure their premium members are seeing a suitable return. They offer active trade management support to advise their members on the correct actions to take during a trade’s life cycle. They’re a very supportive group and so is a great choice for those new to the space.
PipChasers post a trade a day, so members are getting the full value of their premium service. However, one of the downsides of PipChasers is that there is a distinct lack of educational content posted by the team. This prevents members from learning and becoming better traders on their own.
To conclude, this list has walked you through the very best forex signals services currently operating. The key concept behind these services is that professional traders release signals that retail traders who know less about the markets are able to follow. Signal services are exploding in popularity due to the very real possibility of being able to make a serious return so long as the correct service is selected.
We hope now that you’re a little more aware of what these forex signal services are and what you should be looking for before joining one. Good luck!