What are forex trading signals?
Forex trading signals are a component of an overall system of analysis that traders can leverage to generate indicators of whether to buy or sell a particular currency pair at a particular time. Many forex trading signals are based on technical analysis – chiefly technical charts – but can also be based on new events relating to that currency pair, such as a change in a nation’s economic policy.
Multiple trading signals are often used in a forex trading system and many excellent trading signals are available for free. At its core, a forex trading signal is a trigger for a particular action – to buy or to sell. A forex trading signal can be as simple or as complex as a trader chooses it to be. Although simple is usually best.
One of the most popular ways to generate forex trading signals is through the use of automated trading programs called trading robots. They are scripted to conduct research and conduct trades in accordance with trader given parameters.
Forex trade signal example
Forex trading signals are easier to understand than you might think. Just take a look at this example:
Sell GBP/USD at CMP 1.6402 – SL 1.6414 – TP 1.6378
This forex trading signal is simply a call to sell the GBP/USD currency pair which is currently listed at 1.6402 and take profit when the price action reaches 1.6378. A stop loss has been put in place at 1.6414 to mitigate any large losses. At FXgrowth, experts can train new traders to use their trading signals that look just like this one above. You can also find plenty of forex trading lessons at TradersBest too.
Getting free forex trading signals
The best way to obtain free forex trading signals is by researching different trading signals providers at TradersBest. We at TradersBest are dedicated to advising budding traders on obtaining only the highest quality free trading signals possible.
What is Telegram?
Launched back in 2013, Telegram is an online messaging app much like WhatsApp or the Facebook Messenger app. Like those apps, Telegram lets users send instant messages while connected to the internet via WiFi or mobile data. Telegram is renowned for being highly secure and is a modern, cloud-based application. With more than 400 million users from around the world, it’s little wonder that the service is being used to connect traders and trading signal providers.
While telegram has all the same features as the other major competitors such as encryption, chat groups, primate messaging and multimedia functions, its most unique and game-changing feature can be seen in the embeddable bots. Bots are embeddable programs that can service many functions of public Telegram channels such as accepting payments, customizing keyboards, or acting as an entire shopfront from marketing to point-of-sale!
There are even Telegram bots for trading. Some bots allow you to input a trade and then you’ll be beamed the latest updates about that asset from any Telegram channel that publishes such data.
How to get Telegram
You’re probably thinking an application with so many features is probably difficult to install – you’d be wrong! If you want to nab free forex trading signals for Telegram, you can download and sign up in minutes. To begin, you’ll need to choose your preferred platform, which for most will be their phone but can also extend to Windows devices, Linux, macOS, a Chrome browser extension, and even just the signing into the browser-based version.
The setup is basically the same across all devices, but we’ll talk you through an iOS Telegram set up.
- Head to the App Store to download Telegram. It is easily searchable.
- Open the app and select “Start Messaging” to begin. You’ll need to provide your mobile number to receive a Telegram code via SMS.
- Input the code to finalise the set-up. That’s it! You’re all set and ready to receive free forex trading signals on Telegram.
How to get free signals using Telegram
While signing up to a top trading signals service provider like FXGrowth is the best way to obtain the highest quality signals online, it is not the only way. Many service providers post free trading signals on Telegram as a means of promoting their services. The success rate of those free trading signals may not be as good as those from FXgrowth but there are certainly some useful offerings. Other providers will block out certain components of the signal – such as the stop loss limit – so you’ll need to pay for the full signal.
The other way to get free trading signals for forex on Telegram is to join the multitude of trading groups on Telegram. These groups are filled with talented traders, growing service providers, and new traders seeking advice or signals. In these groups you’ll regularly see free trading signals offered to the masses – put a few through your free demo trading account and you’ll find that many can actually be of high quality.
Why use telegram
So, why should you use telegram to receive your forex trading signals over any other platform? Well, to begin, Telegram is so accessible. Regardless of your technical skills or what device you prefer, Telegram is available on just about everything and anyone can locate an app on a digital store.
Secondly, there are no fees or charges for using Telegram. Nothing to pay when you install the app and nothing for using it. That means it costs you nothing to connect with over 500 million people from around the world – millions of them traders or purveyors of trading signals. Telegram will connect a trader on a truly global scale.
Not only can you use the Telegram app to connect to forex trading signal services and providers but also join plenty of groups dedicated to providing other traders with signals. There is nothing stopping you from promoting your own trading signals if they are good enough.
What to look out for with free trading signals on Telegram
There are few things to consider when nabbing some free trading signals on Telegram. Firstly, you’ll want to see some signs of experience and genuine knowledge of the industry from within the Telegram group or of whomever provided the trading signal; it could be an individual or service provider. You’ll also want to look for Telegram groups or providers of trading signals that are specialists. Find a group that is exclusively forex signals if that is what you are trading – you’ve a better chance of finding free forex trading signals by those who really know the markets. There are Telegram groups filled with legitimate experienced experts in a specific market.
Finally, you’ll want to look for groups that are posting trading signals in great numbers. You’ll be seeking fast delivery, and regularly, especially with forex trading where you’ll more often than not be making many short-to-medium term trades with forex brokers.
Half a forex trading signal
This is one major factor of seeking a Telegram group that you really want to avoid. While some services are reputable and offer a full free trading signal, some only give you some of the milk, so you’ll have to buy the cow. What this means is, you’ll want to avoid free trading signal providers that blackout key information such as exit strategies and stop losses. These forex trading signals are designed to entice you to buy the premium signal and you’ll want to make sure you are aware of that before using that signal.
Telegram isn’t the only way traders can obtain premium or free forex trading signals. We, at TradersBest, do highly recommend using Telegram but if the app isn’t quite your cup of tea, then we have carefully selected some excellent alternatives. These 3 types of forex trading signal platforms are the best alternatives to using telegram for receiving the latest free and paid forex trading signals.
In what is almost a precursor to Telegram, there are still WhatsApp groups dedicated to offering free trading signals. Most will only offer a single trading signal per day and it’s typically a good one as it is used to prove how accurate the trading signal services products are. You’ll have no problem finding groups dedicated to certain markets, especially cryptocurrencies and like any signal it is always best to test them out on a free demo trading account first.
One of the best ways to receive both free trading signals and premium ones is through a dedicated trading signals app such as FXgrowth. TradersBest are always on the lookout for the latest and best forex trading signals apps and post updates regularly. With a dedicated app, you can receive forex trading signals in a single convenient location, dedicated to trading signals.
Dedicated apps are also built with that particular device type in mind. That means an android version of your favourite trading signal app will be designed to work perfectly on your device. Essentially, a forex signals app for iOS will be perfect for iPhones and a forex signals app for android will be perfect for most other devices.
Traditional platforms – by traditional we mean email and text messages. When trading signals were first being delivered in the modern digital age, this is how it was done. Email and text messaging is still very reliable albeit not always as fast. Text messages can obviously be delayed too if your mobile happens to lose signal.
There are also many email clients that are highly secure such as Protonmail that provides end-to-end encryption. If you are a trader that values privacy and security, then email is still a viable option in 2021.
Best trading signal provider
We at TradersBest feel our platform is the ideal solution for all your trading signals queries and solutions. Our experts have decades of experience covering a range of financial sectors. We are the ultimate seal of approval for quality trading signal service providers. We rigorously test the quality of each service provider we review and only give the nod to the very best. With that being said, we feel that FXGrowth is the best trading signal provider available online for both new and experienced traders alike.
FXGrowth is globally recognised for forex trading services and specialise in trading signals. New customers can receive free forex trading signals while premium subscribers will have access to some of the most advanced trading signals in the world. Telegram users can rejoice as FXGrowth can send your trading signals directly to your Telegram account. Telegram users can receive up to 15 trading signals a day.
The FXGrowth app is a dedicated trading signals platform and new traders can even receive automated copy trading signals for ease of use. The FXGrowth auto trading algorithm is custom built for forex trading and considers so many important unique variables such as market volatility. Our tests at TradersBest confirms FXgrowth does indeed possess a 70% win percentage on its algorithm trading signals.
FXgrowth even offers forex trading lessons and can teach new traders how to analyse the markets. With the Telegram app and FXgrowth, you can receive a trading education and advanced trading signals.
Trading signals are one of the easiest and fastest performing tools for successful forex trading. Whether you are an experienced trader looking to confirm what you already suspect about the markets or a new trader looking to simplify a challenging industry, trading signals are handy for all trader types.
In 2021, there has never been a better time, or easier time, to receive paid and free trading signals. There are so many methods and one of the best is the Telegram messaging app. Using Telegram, traders can access dedicated trading groups and receive free forex trading signals from providers like FXgrowth.
Free forex trading signals telegram FAQ
What is Telegram? 📱
In 2021, there are a near-endless number of apps with messaging capabilities. Messaging apps can connect traders from around the world to exchange ideas, lessons, insights, and thoughts on financial markets of all kinds. Trading signals are presented in a format that can be delivered on a myriad of formats and that extends to the popular Telegram app.
Is Telegram the only way to get trading signals? 📴
Trading signals are presented in a fashion that can be delivered on many different platforms, services and apps in 2021. Signal service providers can choose to deliver their signals to these varied methods of delivery. If a trader owns a smartphone or computer, they will be able to obtain trading signals in some way.
Are there alternatives to using Telegram? 😶
There is a load of different messaging apps in the world that cater to many different types of people in 2021. Some apps have more features than others and there is more than one messaging app that can cater to trading signal users. Any app that can receive multimedia files or text data could be used as a delivery method for trading signals in 2021.
Is paid better than free when it comes to trading signals? 💹
When it comes to trading signals on offer to the masses of the world, there are two distinct types: paid and free. Some signal providers deal exclusively in free signals whilst others only deal in paid signals. Ideally, you’ll want signal providers that deal in both. However, it really is entirely up to the trader to determine if paid is better than free since it is up to them to decide which signal works best for their needs.
What is the best Telegram trading signal provider? 📳
Thanks to the massive popularity of Telegram and the overwhelming demand for both paid and free trading signals online, Telegram has emerged as a key player in the delivery of trading signals. This means there are a truly massive number of firms, groups and organisations that deal in free and paid trading signals online. The best telegram signal provider can be found at TradersBest – the number 1 platform for trading news and advice.