(MENAFN - Daily Forex) Are you a trader looking to minimize losses and gain reliable returns? If so, it can be a good idea to communicate with other traders around the world and also follow top analysts using social media platforms such as Forex Facebook groups, Telegram channels, or forums.
Your choice will depend on your needs; if it is instant messages, you could go for Telegram. If you are not in a hurry and can go for long answers, it might be a good idea to try a Facebook group or Forex forums.
The Internet offers us so many options that sometimes we do not know which websites are reliable, especially when it has to do with Forex. This is why we have narrowed it down and made our top picks. Check out the best Forex forums and groups below.
5 Best Forex Forums
Forex Factory is one of the most popular Forex forums on the internet. They have over seven thousand members. On the left side of the page, you can see how many of these members are currently active on the forum.
The forum is well organized so that you can find the information you need, open a thread, or reply to one with only a few clicks. If you scroll down the main page, you will see eight sub-topics: trading systems, broker discussion, rookie talk, platform tech, interactive trading, trading discussion, trading journals, and commercial talk.
2.Forex Peace Army
The Forex Peace Army has been around for over five years. Their forums are divided into two: ''companies discussion” and ''beginners bootcamp,” which are subdivided into more groups. This Forex forum has a very active folder named ''Scam Alerts,” where scam victims alert other users. You can also write down any questions on brokers or websites that could possibly be guilty of fraud to see if anyone has had any experience before.
Other than that, you can look for specific forums using the search button and adding information such as keywords, author, question status, prefixes, or a date. This website also offers books that can be useful for beginners who would like to interiorize themselves a bit more before participating in the Forex Peace Army.
3.Trade to Win
Trade to Win (T2W) is a forum aimed for active Forex traders who want to connect their ideas, communicate their perspective, or ask questions. The T2W forum offers an advanced search in order to avoid thread repetition. You can also easily find forums of your personal interest thanks to their structure, where they divide their discussions into six categories: reception, markets, methods, trading career, commercial, and off the grid.
Baby Pips Forex forum is another well-known website which can be useful for both beginners and experienced traders. The information found under the categories ''brokers,” ''trading language and indicators,” and ''trading technology and tools” could be useful for new traders. On the other hand, there are also sections that analyze trading techniques such as automated, copy, or mirror trading for those who already know the basics. Also, Baby Pips offers an educational area to complement the forum threads as well as four different calculators that can come to handy as a Forex tool.
Forex Forum is another website dedicated to helping its members trade profitably by communicating with others around the world about Forex basics and specifics. It is a very intuitive website where you can read and comment on indicators, tools, brokers, and trading software. There are also threads on strategies and trading systems such as scalping or hedging.
Just like in the Forex Peace Army forum, you can find a 'scam alert” section in case you are doubting a broker.
10 Best Forex Telegram Groups
1.Forex Signal Factory
This Telegram group has over twelve thousand members who read the information sent through the app. This channel sends messages about account opening and Forex pair variations. With this, they recommend if it is a good moment to buy or sell specific pairs in the Forex market. All of the messages are short and precise without much explanation, which makes it better for those who already understand trading basics and language. This Forex Telegram group is active from Monday through Friday, days during which the Forex market is open.
2.Wall Street Forex Signals
With over fifteen thousand members, Wall Street Forex Signals sends updates on profitable pairs or the daily briefing when markets close. Although they send over ten messages in a single day, some of these are promotions about their paid or premium version of Telegram, which can be a distraction for those seeking only real time information about Forex.
With almost five thousand subscribers, Tugas FX offers excellent summaries on specific Forex pairs and their stop loss, take profit, continuation patterns, and lots. They also publish the day’s closed trades. However, it is all written in technical language with the corresponding abbreviations.
On the other hand, they do not offer any educational content, which could be a let-down for beginners. Tugas FX also likes to post about their premium signal service to get more subscribers.
Forex AMG is one of the largest Forex Telegram groups with over 40 thousand members. Unlike the other signals, they write complete sentences that have a friendly approach. They often write 'shaya,” which means ''gift of god,” seeking to create loyalty within the users. Forex AMG posts various times during Forex trading hours about the GBP/USD currency pair. They also send charts and breaking news through their Telegram channel.
Forex GDP is almost at ten thousand subscribers. They do not post every day, but they share essential news that could affect the market, such as presidential elections, political encounters, and significant market updates such as gold and the U.S. dollar. This group published analyzed charts with an explanation below the image and educational content. They have a premium Forex Telegram group, but they do not advertise it on their free Telegram channel.
Forex Reapers has forty-five thousand members. They provide information about pips and a range of Forex pairs. Some of them are GBP/NZD, CHF/JPY, USD/CHF, CAD/JPY, AUD/JPY, and more.
This Telegram channel does not have educational information, and they do not post news or charts. Although they share important information, it might be an annoyance to some that every signal they send has a paragraph below that tries to convince non-paying members to join their paid VIP channels.
This Telegram group has few subscribers, just over a thousand, but they are constantly sharing charts and chart analysis with their members. Members are even allowed to leave comments on their signals if you have any doubts or observations, which they are quick to respond to. It is important to note that this Forex Telegram group shares Nasdaq market information only as at the time of writing.
AltSignals has over eighty-three thousand members who read their daily posts. Every day they have different information, sometimes memes, daily price charts, and breaking news. However, they mostly show forwarded messages from their VIP Telegram group that will talk about pips, profit, and periods of a certain pair.
This Forex Telegram channel offers educational information on social trading as well. They add links so you can continue reading if you are interested in their content.
9.Sure Shot Forex
Sure Shot Forex has over nineteen thousand subscribers to their Forex channel. They send out messages that vary in their content. Some days they post about a broker they recommend with an attached link. You will also find charts that are analyzed and drawn on for a better understanding.
Sure Shot Forex invites you to try out their premium or VIP channel, but it is not daily spam. You can read last week's briefing to catch up if necessary and stay posted on market updates even from the free group.
10.Forex Technical Analysis and Signal
This Forex telegram channel posts charts every day for their over 4 thousand members. Some of these are not profoundly analyzed, which could complicate the understanding of beginners. However, most charts are explained in a short paragraph below and have colored markers on them for a better recognition.
It is important to mention that this Forex channel does not provide any educational services. Forex Technical Analysis and Signal offers a premium account for those who understand price charts and would like to receive even more updates.
10 Best Forex Facebook Groups
1.Profit Forex Signals
This Facebook page offers Forex signals for traders who work online. You can find two groups from this page: the first is Profit Forex Signals, and it has over 3.500 members. The suggestions and information posted on this group are for traders who already understand the basics.
The second Facebook group, initiated in 2013, is Learn Forex with Profit Signals that, as the name may suggest, offers social Forex learning through daily posts. This group has over four thousand members. If you like what they offer in their free groups, you can also become a member to access more information and Forex charts.
2.Forex Trading for Beginners -
As the name says, this group is aimed for Forex traders who are just beginning and need to learn the technical language, the types of charts, indicators, tools, and more. The group was created in 2018 and has thirty-nine thousand members today.
Forex Trading for Beginners offers free courses that are mostly focused on what they believe is critical for profitable Forex trading: chart formations. The training program is sent to you in an easy to understand format through videos with organized and clear information. You can also learn about mastering emotions, setting stop losses, and understanding trading techniques.
3.Forex Traders U.S.A
Forex Traders U.S.A is an excellent group if you want to communicate with other traders. You can ask questions and respond to posts about advanced trading subjects or topics for beginners. Their over two hundred and thirty-seven thousand members have access to files that have been uploaded. These include free courses, books on how to trade, PDFs about Forex myths, and more.
It is a safe group since every post and file uploaded must be approved by the admins in order to appear on the timeline. There is a section for events. Some of the past events are Forex 101:Beginner Intro, Scalping Event, and Scalping Challenge.
4.Forex Trading Factory
In this Facebook Forex group, the admin uploads around three posts a day for the almost twelve thousand members. In the discussion section, you are allowed to post or comment so as to read, share, or ask about Forex information. Other members promote their courses, ask questions, and talk about market movements.
Although members and admins upload media such as charts, there is no section available for files such as Forex PDFs or eBooks. If you choose to enter the group, you must answer three questions in order to be approved. In this way, the admins try to control bots or people who are not genuinely interested in Forex trading.
This Facebook group specializes in free Forex suggestions and trading ideas for both beginners and advanced traders. They believe communication is critical and offer their Whatsapp number, Telegram channel, and email address for you to contact them in a more private manner.
In this group, with over one hundred and forty-seven thousand members, you will find links to important news that can change market sentiment so as to be aware of any changes. Forex Trading has a media and a files section where you can find chart photos with their analysis and eBooks such as ''Trading Psychology.”
6.Forex Traders Latinoamerica
Forex Traders Latinoamerica is a Facebook Forex group created over a year ago with almost five thousand members. This group has only one admin, James Hook, which lets you join without asking any questions once you send a request.
In the media section, you can find images, videos, and albums. The admin has uploaded videos where he explains chart movements in less than five minutes. These videos have been recorded from his computer screen, and he works on charts as he talks to the viewer. They are aimed at Forex traders who understand basic technical language.
7.Learn How to Trade Forex & Make Money
This Facebook group is more of a training group for Forex traders who are just starting. The admin opened this group less than a year ago and already has forty-eight thousand members. Although you may not post, you are free to comment, like, or share what the admin uploads making it an excellent way to communicate with other traders.
There are also pinned announcements with information on future courses or downloadable Forex videos through a link. This group has a file section with no uploads and a media folder with photos and videos about charts. Some of these are not explained, which leaves new traders without helpful information.
8.Forex Traders Australia
Forex Traders Australia is a private group that first began in 2017. Their fifteen thousand members can interact with each other on the discussion tab. You are allowed to upload pictures and videos as long as they are a positive element for the group since a post must be approved beforehand before it gets published.
In this Forex group, you can find inquiries of people who need suggestions, information on specific brokers, insight on currency pairs, and even simple definitions like what a broker is and does. Although they have an event and files section, none of these are currently active. However, the media tab has uploads from both the admin and members.
9.Forex Trading, ECN Brokers
Since 2014, this Forex group has been posting about , short for Electronic Communication Network. There are frequent uploads to the file section where you can find Forex guides and books.
You can see the upcoming and past events such as webinars or live trading streams available for the over 20 thousand members on the events tab. You can see posts by the admin or other members on the discussion section, where you can read and comment on ECN Forex brokers and trading.
10. Forex Trading International Group
The Forex Trading International Group is aimed for beginners and experienced traders. You will find posts about trading tactics, chart movements, tips, and Forex programs that can interest all levels of Forex traders.
The ten thousand members can access the free eBooks that have been uploaded or read posts about technical analysis, risk management, or the best Forex trading platforms. Some of the events that have been posted are free online sessions, signals, and trading camps.
What Groups are Best for Forex Trading?
As a Forex trader, either new or experienced, knowledge is the key to adding gains to your balance. Forex is a fast-moving market that can give you great returns or losses. It will all depend on how you understand the market sentiment and how you read it and react to it. A great way to learn or be on top of Forex trades is communication. Facebook, Telegram, and Forums are great ways to exchange ideas with other traders, learn from them, or share knowledge to broaden your trading journey.