Don't buy Forex, Gold signals on Telegram before you read this!
There are thousands of free trading channels on Telegram.
Believe it or not, but the majority are scam.
In this article, I will teach you how to find the best free signals group and a trusted signal provider you can rely on.
I will share with you a simple 5-steps checklist and guide that can help you verify forex, gold or any other trading channel and find the best signals providers.
For the sake of the example, we will check my free forex trading telegram channel VasilyTrader.
1. Period of Activity
Make sure that the channel is operating for at least 2 years.
Moreover, the channel should not be just created 2 years ago.
The group should provide daily publications consistently for that entire period.
To check that, simply open a Telegram channel that you are verifying from your cellphone and click on any date in between the posts.
A calendar with posts will appear. Scroll back to the publications of 2 years ago and make sure that the channel stayed active since then.
Scrolling back to October 2022, you can see that my channel regularly posted various publications.
Telegram Channel Assessment | Activity Period |
Best Channel | 5 years+ |
Good Channel | 2 years + |
Bad Channel | Less than 2 years |
2. Free Signals
There are a lot of Telegram channels that do not offer any free signals, analysis, forecasts to prove the efficiency of its signal providers.
They only give promises of profits in their VIP groups.
I highly recommend choosing only free channels that are brave enough to provide free trades, the more, the better.
In my channel, you can get at least 2 free trades for Forex, Gold, Silver, Oil, Indexes daily from Monday to Friday.
Telegram Channel Assessment | Daily Free Signals |
Best Channel | 4+ free signals daily |
Good Channel | 2+ free signals daily |
Bad Channel | Less than 2 years |
3. Back Testing Free Signals
Just free signals are not enough. These signals should be accurate and have positive reward to risk ratio.
I recommend back testing at least 30 free signals to confirm its profitability.
If a signal provider has a linked TradingView page, it will make the process much simpler, because the platform is very convenient for backtesting.
For example, all the signals that I share in my free Telegram group are also publicized on TradingView.
Opening each and every trading setup, you can see its end result.
On the left side above, you can see a free Forex signal for CADCHF that I posted.
On the right, you can find the outcome of this trade on Tradingview.
Telegram Channel Assessment | Free Signals Win Rate |
Best Channel | 50%+ |
Good Channel | 40%+ |
Bad Channel | Less than 40% |
4. Website, Other Social Networks
Assess the presence of a signal provider on the Internet.
A respected telegram channel should have a website.
In addition to that, the more active social networks one has, the more trustworthy he is.
I have a website, YouTube channel, Instagram page, Twitter.
I am trying to be active in all these social networks.
Channel Assessment | Social Networks |
Excellent Channel | 3+ |
Good Channel | 2+ |
Bad Channel | Less than 2 |
5. Feedbacks, Reviews
Try to find independent reviews about a trading Telegram Group that you're checking.
For example, you may google it or check video reviews on YouTube.
Make sure that the channel has a high user score.
My Telegram channel has a high trust score on ScamAdvisor website and has a 4-star rating on TrustPilot.
Telegram Channel Assessment | Online Reviews |
Excellent Channel | 60%+ positive reviews |
Good Channel | 50%+ positive reviews |
Bad Channel | Less than 50% of positive reviews |
Final Review
Assessing 5 criteria in our checklist, we can see that VasilyTrader channel:
Is active for more than 5 years
Provides 2+ free signals daily
Is easily back testable and has high accuracy of free signals
Has 3+ other social networks
Has great reviews
It makes that group on of the best free forex signals channel on telegram.
We strongly recommend conduct a similar examination of any Telegram channel that you join.
Of course, this check list does not guarantee full protection from scammers BUT it will help you to sort out the obvious scams.
With experience and proper backtesting you will be able to find the best Forex, Gold signals providers on Telegram.
Be very careful, spend at least a month in a channel before you buy any paid service. Be vigilant and remember that safe unrealistic gains do not exist.
