The presence of forex signals always attracts traders who want to carry out forex trading easily. Even though they are only positioned as recommendations, trading signals can provide the insight you may need when confused about interpreting market conditions. In other words, trading signals can provide additional confirmation that you may need, both before opening a position and in determining a close position. Currently, free forex signals are available on Telegram Channels.
Then, one of the most prominent advantages that cannot be ruled out is: that you can get forex trading signals for free. Yes, you don’t have to spend a penny to get valuable recommendations from expert traders and trusted signal providers on Telegram Channels. This is certainly quite tempting, considering that many trading signals are currently offered for a fee. Also, find out how to get and use Forex Signals Telegram here!
Free Trading Signals From Forex Brokers
Instead of struggling with these difficulties, you can take advantage of the free trading signal services provided by forex brokers through Telegram Channels as well. This facility is usually not provided on a limited basis, because it is included in the extra service for traders who open accounts and make deposits at the related broker.
In addition, you no longer need to wonder about the clarity of providers who provide free trading signals at forex brokers. Since the reliability of these free trading signals is tied to the reputation of the broker, it is unlikely that the broker will cooperate with an unreliable provider.
How Forex Brokers Provide Free Trading Signals
In general, forex brokers can provide free trading signals in 2 ways.First, they recruit analysts or trading experts who can provide free trading signals exclusively and regularly for traders on Telegram Channels. Second, forex brokers can work with trading signal providers, which usually have special technology to get signals automatically through certain methods.
Well, of the many automatic signal providers currently circulating, Autochartist and Trading Central are the two most familiar names found in forex brokers. Therefore, the explanation below will divide the brokers that provide free trading signals into 3 categories, namely exclusive signals, Autochartist, and Trading Central.
1. Exclusive Free Trading Signals From Broker
This service is quite rare because trading experts usually work with brokers as analysts on Telegram Channels. In this case, the broker will provide a special rubric managed by an expert to present exclusive analysis regularly.
In addition, this collaboration can also extend to educational rubrics and produce various kinds of content, either in the form of articles, video tutorials, or even webinars and seminars.
Autochartist is a trading signal provider that has worked with dozens of brokers and initially focused on recognizing Chart Pattern signals to look for entry opportunities.
But as time goes on, Autochartist’s free trading signals can scan price charts to identify Fibonacci patterns, potential Support Resistance, and candlestick patterns, and find Stop Loss and Take Profit recommendations based on price volatility.
Autochartist also provides a Risk Calculator tool and market news updates to further complete the preparation of traders before entering the market.
3. Trading Central
Besides Autochartist, a free trading signal provider that collaborates with several brokers is Trading Central. Unlike Autochartist whose main function is to scan the market to identify price patterns, Trading Central uses a combination of technical analysis that can identify trading opportunities automatically and in real-time. The signal is generally based on the identification of Support Resistance, while the choice of indicators used includes MA and RSI in various periods, as well as MACD and Bollinger Bands.
Descriptions of trading signals can be obtained directly on the Trading Central platform. Not only working in the forex market, but Trading Central is also able to reach analysis on commodity markets and stock indices. Trading Central signals are offered with simple and ready-to-use technical analysis principles so that the explanation of the signals does not break down in detail.
One of the features of Trading Central that other trading signal providers rarely have is the Backtest strategy feature. This facility is important for traders who want to develop their trading strategy.