In this post I will be reviewing the Dux Forex Signals. The providers of these forex trading signals do indeed make some very bold claims such as: “an established forex signals service provider with over 50 of the best forex analyst/traders in the world today. Some of the traders on our team are former trading champions of eToro and more. The forex signals you will receive are signals that have been carefully analysed by the best of the best.”
Well, I would personally take these claims with a huge pinch of salt in my humble opinion. Primarily because there is no real live verified account that shows the latest results of this forex signal service. Read on to find out more about Dux Forex Signals including what they are and how to use them.
What are Dux Forex Signals?
The Dux Forex Signals are 100% web based and are provided as entries, stop loss and 3 take profit points. You receive constant updates in real time and can use the signals on any forex broker and trading platform that you wish.
When you purchase you are provided with login detail to access the members are and receive the Dux Forex Signals. It is very easy to use and there is even a mobile phone app to receive the signals as well as receiving them via email, alerts and notifications. This is good because it means you do not need to constantly look at charts all day long whilst waiting for signals to appear.
The examples of trades shown on the Dux Forex Signals website do not give much away but suggest that they are using support and resistance for price action analysis without cluttering the charts with a ton of indicators. We know how powerful support and resistance levels can be when used correctly, it is just not all traders can do a great job of spotting them. It can take years of experience and practice to identify which levels are the most well established.
How to use Dux Forex Trading Signals?
In order to use these forex signals, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers which you can find via the top menu to help you quickly and easily choose a broker that meets your needs.
I would personally only take signals on the major currency pairs such as the EURUSD & GBPUSD due to the high liquidity and lower spreads. Also, I would make sure that I am using an ECN forex broker for the best possible trading conditions. I find that they tend to have plenty of liquidity which can mean you get access to tighter spreads and superior trade execution speeds at the best available market prices.
You may also choose to take signals on all currency pairs or only those that you prefer. You can even add extra additional technical analysis and/or fundamental analysis should you wish. For sure, I would certainly not be taking any of the Dux Forex Trading Signals without first confirming each possible buy and sell entry with my own market analysis.
I think that this is very important as it can help you to understand why the signals appear and can help you to become a better forex trader in the long run. You do not know if a forex signal provider will always be around, so I do not think it is a good idea to rely on them personally. I feel it is better to learn how to trade with a manual forex trading system that matches up with your own trading style.
How will I receive the Dux Signals?
You can receive E-mail Alerts, Facebook Alerts, and Mobile App Alerts. Then, you can log into the members-only section of the Dux Forex Trading Signals website and on the signals page, you will see the signals.
How often will I get Dux Forex signals?
Whenever conditions are met, signals will be posted. The developers claim to always be analyzing the market to find the best entries. As soon as their experts determine entries, they get posted right away. Remember, you do not need to act on every trading signal, you may want to choose those that fit within your own forex trading plan and have a risk to reward ratio that you feel comfortable with.
Do I need to install or download anything?
No. The Dux Signal service is totally web-based. You log into the site and see the signals from there. This way you can have access to them anywhere on almost any device with internet.
Which currency pairs will there be signals for?
There will be signals for EUR/USD, USD/CHF, GBP/USD, USD/JPY, AUD/USD, GBP/JPY, and USD/CAD. Each pair has a unique way of moving, this giving a diverse range of options. I would be looking at trading the major currency pairs such as the EUR/USD as I find them to have decent trading volumes which means that you can get in on some good moves if you time your entry well.
Dux Forex Signals Conclusion
The Dux Forex Signals sales page makes some bold claims that I would like to see backed up with verified accounts using a third party such as MyFxBook or FXBlue. I would personally look for another signals service or test these forex signals on a demo account.
There is a money back guarantee if you want to trial the signals but in my opinion there are more established alternative forex signal options such as eToro and ZuluTrade, where you can copy the trades of established traders with a verified track record.
It is very important that you are aware of the significant risks involved with trading online and make sure that you never risk more than you can afford to lose. The historical performance of any forex signal service is by no means any guarantee of future performance.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.