REX Trading Signal Telegram Channel Review: Is It a Reliable Source of Trading Signals or Scam?
Finding a legit Telegram channel with crypto and forex trading signals is essential for any trader who wants to get some reliable advice. In today's review, we are going to look at the REX Trading Signal Telegram channel to evaluate whether this is a reliable trading signal service or another scam aiming to make money from inexperienced traders. Our analysis revealed several reasons why REX Trading Signal can be classified as a scam, so please be careful.
Channel Overview
Telegram Channel Link - https://t.me/REXTradingSignal
Criteria | Details |
Channel Name | REX Trading Signal |
Operating Since | February 20, 2024 |
Subscribers | ~13,015 (medium-sized channel) |
Posts Per Day | 20+ (very active) |
Average Views Per Post | ~1,600 (suggesting mostly real subscribers) |
Social Networks/Website | None |
Main Content | Free signals, trading results, trade updates, paid channel promotion |
Free Signals/Forecasts | Yes |
Primary Market | Gold (XAUUSD) |
Free Signals Daily | 2-4 on average |
Trading Style | Scalping |
Winning Rate (Free Signals) | 35% (based on 6-month backtest) |
Trading Sessions | London and New York |
Free Education | No |
Paid Services | Premium channel |
VIP Subscription Bot | No |
Real Face/Person Behind | Yes, owner often shares pictures |
Content and Activity
REX Trading Signal has been active since February 20, 2024 and has already gained over 13,000 subscribers. The channel posts 20+ times per day, meaning that it is rather active. On average, there are 1,600 views for each post that shows that the subscribers are most likely real active users.
The content of the channel consists of free signals, trading results, updates of trading activity and promotion of their paid channel. They do not provide any education for free, but give 2-4 gold signals for free on daily basis. These are scalping trades on the London and New York sessions.
The Format of Signal and Its Accuracy
The signals in REX Trading Signal are provided in a certain format. Let's have a look at an example:
🟢 XAUUSD SELL ZONE: 4192 - 4195
❌ Stoploss: 4200
✅ Take Profit: 4187 - 4182 - 4177 - OPEN
The peculiar feature of this channel is that it uses pending orders, which is rather unusual in comparison with other popular gold signals channels on Telegram. Another peculiarity is that buy and sell limit orders can be put simultaneously and this may mislead the subscribers.
The entries are provided as zones. Usually, the zone is 30-40 pips wide with 3-4 take profit levels and 1 stop loss.
We made a sophisticated testing of free signals in the REX Trading Signal with the help of AI and discovered that this group always lies, providing profits on the trades that were never made. The trades that became active showed just 35% of accuracy. Such a percentage is too low to cover losing trades. On average, winning signals bring just 0.7% reward with 1% risk per trade.
Suspicious Activity and Red Flags
One more Telegram channel that started appearing quite often in Telegram ads is Rex Trading Signal. Our subscribers joined the group and asked us to do the review.
The content of the group is very diverse. As the member, you will receive educational articles about XAUUSD trading, posts about market analysis with technical and fundamental outlook, and of course, free Gold signals.
Articles are informative and interesting. News posts are actual and helpful. The technical outlook publications are based on scenarios. They are not precise and clear, but can be helpful for Gold traders.
The biggest problem, as always, is in the signals itself. Please see how the free signals are provided.
In comparison to the majority of Popular Gold Signal Channels on Telegram, this group uses pending orders. Moreover, buy and sell limit orders can be made simultaneously, misleading the subscribers.
As the entries, the zones are used. Typically, they are 30-40 pips wide. 3-4 take-profit levels and 1 stop loss.
We did a sophisticated test of free signals with the help of AI and noticed that the group consistently lies, providing wins for the trades that never were activated.
The trades that became active achieved only 35% accuracy. Such a win rate is not enough to cover losing trades. On average, winning signals provide 0.7% reward with 1% risk per trade.
The screenshots with the running profits, trading articles, news and motivational posts aim to cover the very low trading performance.
Conclusion
We can say that REX Trading Signal is rather suspicious and has many characteristics of a scam group. The combination of misleading, bad performance (35% win rate), confusing format of signals and distractive content is rather suspicious. We would recommend you not to use this group as a source of free signals.
0/10 TRUST SCORE
