Daily Forex Signals review
General information
Daily Forex Signals claims to offer the best Forex signals with a team of experts consisting of more than 7 professional traders with years of experience in the financial markets.
Website
The provider's website doesn't work.
http://www.dailyforexsignals27.com/
Social network
The provider has an Instagram account with 3,511 subscribers. The main channel publishes already closed successful trades and results for the month, as well as educational posts.
https://www.instagram.com/dailyforexsignals_27/
There is also a page with about 4,900 followers on facebook. Posts from Instagram are duplicated there.
https://www.facebook.com/DailyForexSignals27
Telegram
The main source of signals is the Telegram channel. It has 12,055 subscribers. The average number of views is 1173. The involvement of the audience is not on a high level and is equal to 9.72%.
During the year, the provider lost -46% of the audience from 22,900 to 12,000. This suggests that the provider may have fake subscribers to their channel.
In the channel description, the provider writes that the signals are 90% to 95% accurate, but they have not provided any evidence of their success.
Signals
Let's analyze one of the last signals from the provider's telegram channel on October 7, 2022 at 3:17 pm. The signals were to sell USDJPY at 144.850. Stop loss at 145.150 and take profit was at 144.400. After opening of the trade the price went straight against the forecast and the trade was closed on the stop loss. The provider did not notify about it.
Another example. The signal was to buy the asset EURCHF at 0.96980. Stop loss was at 0.96600. And the take profit was at the level of 0.97400. The risk to profit ratio is equal to one. After the trade was opened, the price reversed and went against. The position closed with a loss.
Reviews
There are no reviews on major platforms about this signal provider, including on the provider's Telegram channel. With such a win rate there should have been many reviews of this provider, but there are none.
Conclusion
Provider Daily Forex Signals has a large number of subscribers in the Telegram channel, but the audience engagement rate is quite low. This suggests there is high probability that it has many fake subscribers. The provider actively runs social media, talking about their profitable trades, but the quality of forecasts, to put it mildly, leaves much to be desired.
It targets 1,000 pips, which is 4,000 pips per month, which is quite high. The daily signals do not provide any verified results, instead they show screenshots and videos. And providing a history of results as well as screenshots will not prove that the results are verified. The provider hides some of the most useful information that traders deserve to know before using the signals. Who is giving these signals, who is behind them? What is their trading strategy, etc.?
