Even if you don’t have any experience trading on Forex, you probably heard of Forex Factory somewhere along the way.
This makes sense because it is probably the best, free website for Forex traders.
Whether you’re a new broker and wish to learn more about the market or a seasoned professional looking for some online help, this is a very good place to start your work day.
Site was created by a group of traders in 2004. It was initially based on web forum and as time went by and its popularity grew, company introduced some additional features such as:
Forex Factory Calendar
When it comes to advanced trading tools, this one probably has the biggest impact. It allows you to configure time zone, set event filters, view real-time price changes, set a time frame during which you wish to monitor changes, check economic charts and other data. You can easily plan strategies for the whole month by using this calendar.
News section will help you make daily decision. Forex Factory site has open-submission policy where anyone can contribute. A lot of brokers are participating in its comment section daily which can always help a trader make a better decision and observe things from a different perspective.
As the name implies, this section helps you monitor currency prices. It is based on a MDA (market data application) system which is able to monitor trades as they occur in real-time. In other words, it is a great indicator of any market change and is able to provide quick and reliable information.
Before you can use trade explore, you need to create an account. It is a great way to perform analysis, how much profit you’ve made historically analyzing high and low points. It can also help you in real-time as it synchronizes with ongoing trades.
Next on the list is trades screen. This is sort of a live feed where you can get insights into latest trades. You can use it to check top performers, who made money off trades, how many traders are investing in which currency and so on. Have in mind that this is a voluntary option; in fact, you need to create an account and login in order for your results to be shown.
This is basically an advanced guide that is meant to provide some additional information for traders. You can find a lot of data about brokers here such as platforms which they’re using, minimum trade, spreads, minimum deposit and so on. Section is maintained by Forex Factory so you can be certain that you will get the most relevant information.
Before you make any trade on Forex, I suggest you go and visit Forex Factory.
This is one of the best interactive sources of information. To top it all off, it doesn’t only provide news reports and stuff which you can find on other blogs. It provides a real-time feedback from people who are trading.