With so many traders online offering guidance and live trade updates, it can be a potentially amazing opportunity to see what trades these professional traders are in so you can learn from their analysis and even profit on the back of it. The issue with trying to keep up with these trading calls is the fact that normal life gets in the way, the majority of budding traders can’t be sat at their laptop all day long, watching calls coming in… This is where Telegram Fx Copier comes in.
In this article we are going to be reviewing Telegram Fx Copier, a revolutionary tool that allows traders to automatically copy signals from Telegram, directly to their MT4 and MT5 accounts so they never miss their favourite traders signals, ever again! We will look at the pros, cons and everything you need to know…
What Is Telegram Fx Copier?
Telegram Fx Copier does exactly what it says on the tin – it will automatically copy trading signals from Telegram, to your trading accounts on either MT4 or MT5. The tool allows over 8500 traders around the world to utilise these trade calls whilst still going about their day to day life, without being glued to their mobiles all day waiting for the next signals!
Now we know what the software actually is, let’s take a look at the features that set it apart from the competition…
Telegram Fx Copier Features
Telegram Fx Copier has a range of interesting features that makes it better than a fair few of the competitors on our Top Forex Copiers List. These features include:
1. Copying Trades No Matter What Language
The software can copy all trades from your Telegram, onto your chosen MT4/MT5 account – no matter what language the signal is sent in. It can even be sent in images, the solution will still read the trade and get it copied perfectly onto your account, in less time than a human could! It actually takes the tool just less than 5 seconds to read the message and get your order placed in the markets meaning this is completely viable for those signal channels that send intraday plays.
2. Risk Management Tool
The tool comes with a huge amount of risk management options, allowing you to fully customise stop losses, take profits, risk, lot sizes and much more. Alongside the risk management trading options, there is also an analytics panel that allows you to see which of your Telegram channels are profitable over the long term and which ones are detrimental to your account balance. This is something that competitors certainly aren’t offering and personally I think having access to these analytics is extremely valuable as you can cut out the losing channels when needed.
3. Supports All Telegram Chats And Channels
Telegram Fx Copier is compatible with all of the Telegram channels and chats you could be joining. With some of the other providers, they are only able to work with certain types of channels – that doesn’t apply to Telegram Fx Copier and you’ll be able to copy trades from wherever you fancy!
This isn’t directly a feature that the software comes with, but it’s very much worth knowing about if you’re someone that likes to try lots of signal providers in the hopes of finding someone profitable over the long term. The same developers have created a sister tool called TelegramFxBacktest. This tool is used to evaluate the profitability of signals by joining a signal channel, then it will study all of the previous trades to see the outcomes and formulate analysis based upon the results.
This is an essential add-on for traders that are frequently copying forex trades from Telegram. They have a lot of videos published on their YouTube channel where they are backtesting popular signal services, so please do have a watch to understand their offering.
Why Use Telegram Fx Copier?
There are two main reasons you’d want to be using Telegram Fx Copier to copy your forex trades...
1. To Save Yourself Time
Being able to automatically copy trades from multiple forex channels at once is a huge time saver. The average person, working a 9-5 whilst trying to get to grips with trading, simply doesn’t have the time to keep checking their phone for trades. Let alone managing the trades, checking for updates, closing at the exact right time and keeping an eye on 10+ trading channels, it’s just not possible.
By utilising Telegram Fx Copier you’re able to do all of that, without ever having to put a finger on your phone – potentially saving you hours per day.
2. Trade Prop Firm Capital
If you’ve read our Best Forex Prop Firms List, you’ll know there are a range of companies like MyForexFunds and Lux Trading Firm offering huge amounts of capital to traders. If you manage to find a profitable forex signal channel on Telegram, you could copy those trades onto a funded account.
Let’s say for instance you’re copying the trades from a channel that’s averaging a monthly return of 8%. This is a huge return if you let it compound and it’ll certainly grow nicely. However, imagine that return on $100,000 of trading capital. You could have a $50,000 MyForexFunds account (instant funding) and a $50,000 BluFx account and be making yourself $8000 monthly, instead of trading just your own account balance.
This is by far the best use of Telegram Fx Copier, to vastly scale your trading capital using prop firms and taking advantage of their funding options.
Telegram FX Copier Plans & Pricing
Compared to some of the other forex trade copiers on our Best Trade Copiers list, the price of Telegram Fx Copier is fairly competitive and certainly not too far on the high end. For instance with MT4 Copier you’re going to be paying maybe £20 per month for unlimited copier accounts. Whereas for 1 MetaTrader account with Telegram Fx Copier, you’re looking at $179 for a lifetime subscription to the software. When you think about how much money you stand to make from your favourite traders signals, this is fairly minimal over the course of a few years.
The price scales up to $799 for 10 accounts copying the forex trades but in all honesty this is going to be overkill for the majority of traders just doing this as a bit of a hobby. I would recommend the most popular 2 MetaTrader accounts license for $249 as this allows you to experiment with multiple traders and multiple risk parameters. If this is again too expensive for you, I would recommend looking at some of the offerings from other trade copiers in the industry, like Forex Copier 3.
Telegram Fx Copier Reviews – What Are Traders Saying?
With 8500 users worldwide, you’d expect the company to have a lot of reviews online, right? Well, TelegramFx Copier has a good amount of reviews on Trustpilot and clocks in at an Excellent rating! With nearly 100 reviews, 88% of them are sitting in the excellent bracket, which is great to see and really shows that people are happy with the tool being offered. On their website, they quote a review on ForexPeaceArmy so I have tried to look for further opinions from traders on FPA but there only appeared to be the one!
Anton here is praising the software, claiming it works perfectly. I’ve noticed a fair few traders saying they initially had a little bit of trouble with the setup but the support team were on hand to help them get sorted.
In Conclusion – Is Telegram Fx Copier Any Good?
In summary, Telegram Fx Copier is a great tool for copying forex trades from Telegram, to your MT4 and MT5 accounts. It’s of course much more limited than the other tools on our Best Forex Trade Copiers List, as it just focuses on Telegram, but it does this better than any other solution in the industry.
If you’re looking for more of a comprehensive trade copier then something like Forex Copier may be a better option for you!
If you have any experience with this software I’d love to hear your opinions in the comments down below.