However, some of the best forex signal groups in the UK are now on Telegram, the ultra-secure and ultra-fast messaging app which for real. Perhaps, finding the best forex Telegram group in the UK can be tricky that is if you don’t know where to start. Which is why in today's article, we’ll cover everything you need to know about how to find the best forex signal Telegram group in the UK.
Before we move to our main priority in this article let's try to see what actually is Forex. Not rushing too fast because this is for the benefit of doubt. Why? well that is to eliminate doubt from those actually reading this post because many in the world today do not know yet about Forex.
What is Forex?
Forex, also known as Foreign Exchange Market. The foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
In other terms, Forex trading is the process of speculating on currency prices to potentially make a profit. Currencies are traded in pairs, so by exchanging one currency for another, a trader is speculating on whether one currency will rise or fall in value against the other.
The value of a currency pair is influenced by trade flows, economic, political and geopolitical events which affect the supply and demand of forex. This creates daily volatility that may offer a forex trader new opportunities.
Online trading platforms provided by global brokers like FXTM mean you can buy and sell currencies from your phone, laptop, tablet or PC.
Top Forex Signals Telegram Groups
There are many varieties of Forex signals on Telegram which may be some times overwhelming for new forex traders. So, to be of help here are some picks for the top 5 forex Telegram groups in 2021:
- Learn2Trade – Overall Best Forex Signal Telegram Group
- FX PROfit Signals – High-quality Signals with Detailed Charts
- Wall Street Forex Signals – Great Free Forex Signals Telegram Group
- Ten Times Profit FX – Technical Telegram Forex Signals Trading
- 1000Pip Builder – Strong, Verifiable Track Record
Learn2Trade - Overall Best Forex Signal Telegram Group with Free Forex Signals
Learn2Trade is a UK-based forex trading service with a very active forex trading signals group on Telegram. The group typically posts between 8 and 10 forex signals a day, which is more than enough to keep even full-time expert traders busy.
Most of the daily forex signals are based on a combination of technical indicators, including moving averages, Bollinger Bands, and Fibonacci retracements. However, Learn2Trade does keep an eye on macroeconomic events, which is important to make sure you’re not trading against the grain of the global economy.
One thing that’s nice about Learn2Trade, especially if you’re new to the world of forex signals, is that you can get a preview of the signals for free on Telegram. The free Telegram forex signals group doesn’t include an entry price or notifications, but you can see Learn2Trade’s charts and get the explanation behind different trading setups. A Premium subscription, which includes access to all of Learn2Trade’s signals data, costs £35 per month or £95 per 6 months.
FX PROfit Signals - High-quality Signals with Detailed Charts
FX PROfit Signals is another high-volume, high-quality forex signals provider operating over Telegram. This forex signals group offers 5-7 trading signals per day and has a track record of returning up to 2,000 pips per month.
Every signal comes with detailed analysis in the form of an annotated chart and in-depth discussion of the signal. You won’t get much in the way of dedicated educational resources with this signals group. However, we found that you can learn quite a bit about the trading strategy just by following the charts.
Another interesting thing about FX PROfit Signals is that the group takes risk management seriously. You don’t only get an entry point and a single exit point, but rather three take profit levels for every trade and a stop-loss that’s increased over time to protect your profits.
FXPROfit Signals covers forex as well as popular commodities like gold, silver, platinum, and crude oil. You can join for €69 per month or €359 per year. That’s not cheap, but it’s not especially pricey either considering the number of signals you receive every day. Your account also comes with 24/7 customer service, which is a major benefit.
Wall Street Forex Signals - Extremely Impressive Returns
Wall Street Forex Signals is one of the most profitable forex Telegram groups we’ve come across. In 2020, this service pulled in over 98,000 pips in profit for its Premium subscribers. That corresponds to an average monthly profit of more than 15% and a win rate of over 85%. Clearly, the traders behind this group are doing something right.
With Wall Street Forex Signals, you get 5-6 trading signals daily. Every signal comes with an entry point, three take profit levels, and a trailing stop-loss recommendation. The group requires you to have the MetaTrader 4 trading platform to follow along with the trades, which means you also get hands-on experience with charting and analysis. Wall Street Forex Signals covers trading for all major and minor currency pairs, plus gold trading.
What is nice Wall Street Forex Signals is that it supports copy trading so that you can leave your trades fully in the group’s hands when you’re too busy to monitor your notifications. This comes with 24/7 customer support and includes access to a demo account, so you can test out how well copy trading works for you.
Wall Street Forex Signals costs $14.95 per month (around £11 per month). If you want to enable copy trading, this service costs an additional $45 per month (£33 per month) or $189 per year (£140 per year). Wall Street Forex Signals also has a free forex signals Telegram group that includes 2-3 signals per day.
Ten Times Profit FX - Technical Forex Trading
Ten Times Profit FX is one of the smaller forex signal Telegram channels you’ll find. It only has 15,000 members receiving its free Telegram forex signals and 3,000 Premium subscribers. However, we think this group’s consistently profitable trading signals and high-quality technical analysis make it a great choice for new forex traders.
What’s unique about Ten Times Profit FX is that the group appears to base its analysis almost exclusively on technical analysis. There’s very little discussion of macroeconomic trends, and trading signals are released with annotated charts with almost no further explanation. We found that this approach does sometimes result in losses when the market reacts to political news, but on the whole Ten Times Profit FX has done a nice job honing its forex trading system.
The annotated charts that Ten Times Profit FX releases on its Telegram forex signals channel are a huge asset for this service. There’s enough detail included that you can study the chart to decide for yourself whether you want to follow the signal. Of course, each signal also includes a stop-loss level and three take profit levels.
Overall, Ten Times Profit FX boasts 15-40% monthly returns. From March to June 2020, the latest period for which Ten Times Profit FX has released its performance data, the broker notched an average performance of 39% per month.
1000Pip Builder - Strong, Verifiable Track Record
1000Pip Builder takes a slow and steady approach to generating profits from the forex market. This forex signal provider has been around for over 10 years and aims for a modest, but attractive monthly return of around 10%. The broker tracks its performance with MyFXBook, so you can go back in time to see exactly how well 1000Pip Builder has fared in the market.
One thing that sets this forex signals group apart is that it has a narrow focus on 15 major and minor currency pairs. 1000Pip Builder doesn’t trade cryptocurrencies or commodities, instead focusing on assets that are generally less volatile. The result is less impressive returns than other forex signals services when the market is going up, but also more stability when the market is going through a downturn.
1000Pip Builder is designed specifically for novice forex traders, and we found that the signals were very easy to follow. You get a clear entry point and take profit levels, plus an explanation of exactly how the technical indicators on a chart indicate the conditions for a trade. In fact, this approach makes 1000Pip Builder one of the best forex signal Telegram groups in the UK if you’re trying to learn how to trade on your own.
It’s worth noting that 1000Pip Builder doesn’t offer copy trading. So, you will need to pay close attention to your Telegram notifications in order to keep up with the service.
1000Pip Builder costs $97 per month (£71 per month) or $497 per year (£366 per year)
How to Choose the Best Forex Telegram Group for You
Picking the best forex signal Telegram group to help you trade is a big decision. Your group will play a huge role in determining your trading style, how frequently you trade, and even what you trade. Let’s take a closer look at some of the key aspects to consider when choosing the best forex Telegram group for you:
Fees
How much a forex Telegram group charges for membership shouldn’t be the main factor driving your choice of group – that should come down to things like quality and performance. However, price is certainly important.
Many forex groups charge between £25 and £100 per month, although you can certainly find more expensive services. When you’re vetting Telegram groups, look for platforms that offer a free Telegram channel or a one-month subscription option so that you can try out the service. Some platforms, including Learn2Trade, also offer a discounted trial of their premium memberships.
Associated Brokers and Copy Trading
While not all forex Telegram groups require you to use a specific forex broker, some do. It’s important to know this in advance, especially if you already have a brokerage account. Be sure to do your research into the partner broker to find out if it is regulated, whether it offers forex CFD trading, what degree of leverage you can trade with, and what trading platform it includes.
Even if a specific forex broker isn’t required to apply forex signals on your own, it may be required if you want to take advantage of copy trading. With copy trading, you can automatically trade on all of the signals that your forex Telegram group identifies. This type of trading is great if you have limited time to trade on your own, but keep in mind that you won’t learn much about trading if you’re not paying attention to the signals.
Some software solutions even let you copy signals from telegram to MT4.
Currency Pairs, Commodities, and Cryptocurrencies
Forex Telegram groups differ in what types of assets they issue signals for. Some groups focus only on a small handful of major and minor currency pairs. Others cover dozens of currency pairs as well as commodities like gold, silver, and oil. Cryptocurrency trading is also increasingly included with many of these services.
Having more assets to trade isn’t necessarily better. Commodities and cryptocurrencies may offer more trading signals, but these assets are also riskier to trade than most major or minor forex pairs.
Number of Signals
Some forex Telegram signal groups offer only 1-2 signals per day, while others offer as many as 10 per day. While most services focus on delivering only high-quality signals, it’s not uncommon for quality to slip slightly as the number of daily signals increases.
How many daily trading signals you need depends in part on how much time you plan to spend trading. Full-time forex traders may benefit from having more signals available, since this creates more opportunities for profit every day. Even if not every signal is perfect, full-time traders can analyze the setups on their own to decide which ones to act on.
Part-time traders, on the other hand, may prefer fewer signals that are higher in quality.
Past Performance
One of the most important things to look for when choosing the best forex Telegram group is how the signals have performed in the past. At the end of the day, a service is only as good as its signals – and past performance offers the best indication of whether the signals are consistently profitable.
Many Telegram groups track their performance with MyFXBook, a popular trade analysis service. Avoid being lured by claims of extremely high returns in one week or one month. What matters is whether a service has generated strong returns for its traders over a longer period of months to years.
Training and Support
Many forex traders join Telegram forex groups in order to improve their own trading, not just to get profitable signals. If education is important to you, make sure to check what resources a trading group includes.
For example, some forex signal groups issue annotated charts along with detailed explanations of the indicators underlying a trade. This type of information can help you develop your own forex trading strategies over time.
Also be sure to see what direct support your membership comes with. You should have the opportunity to ask questions about signals or about the service’s trading strategy in general. Many forex Telegram groups offer 24/5 or 24/7 support for traders.
Conclusion
Joining the best forex signal Telegram group in UK is a fast way to become a more profitable forex trader. With forex signals, you can take advantage of the expertise of professional forex traders and be notified of new trading opportunities in real-time. In addition, by using Telegram, you can get alerts on your smartphone or desktop throughout the trading day.
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