We frequently see posts on different social media platforms from novice traders asking about forex news sources and relevant economic data. As forex market veterans, we understand why this is the case. After all, a clear cause-and-effect connection exists between a piece of forex news or an economic data release, especially on shorter time frames. Some traders try to capitalize on these events by trading them directly, while others incorporate them into their medium-to-long-term strategies. Whatever the case, it is hard to overestimate the importance of this type of data. With this in mind, we compiled a list of useful—and, more importantly, free—resources that provide crucial forex-related data, news, and other relevant information. Enjoy!
The Best Resources For Forex News
Wondering where to get economic news for the week or looking for trading ideas? Look no further—we’ve compiled a list of resources where you can access everything from high-impact news to fundamental analysis and trading ideas. Some of these resources have been our go-to’s for years, and they’ve proven to be extremely useful. Our personal favorites are Forex Peace Army and Myfxbook. The former is indispensable for conducting due diligence when selecting a reliable forex broker. The latter allows you to share your trading performance publicly, which is especially handy when vetting signal providers and money managers.
Forex Factory is The Leader and Number One Source of Forex News for Millions of Traders
On Forex Factory‘s forum pages, you’ll find a wealth of information. Some threads have millions of posts, providing a comprehensive view of the market and a platform for traders to share their insights and discuss recent forex news and their impact on the market. The forum pages discuss the current situation and trading ideas for all popular currency pairs.
This resource is also popular because of its Economic Calendar. Many brokers use this calendar and post it on their websites. It’s convenient because, when data is released, the value in the “Actual” column updates without refreshing the entire page—only the cell with the published number changes. This is very handy for trading based on news.
You’ll find a mini calendar on the left side of the page. Its cells and rows allow you to select data for the day or period you need quickly. The chart icon on the right provides a quick view of the indicator’s historical changes. The folders in the center contain detailed reference information about the event. You can access a decent news feed in the main menu under the “News” section.
Myfxbook
Myfxbook is a popular forex tool that helps traders track, analyze, and share their trading performance. It offers real-time forex news, updates, detailed analytics, and a community where traders can discuss strategies and forex news. Whether you’re a newbie or a pro, Myfxbook makes staying on top of the forex market easier.
- It contains reviews of brokers, traders, and trading conditions.
- It allows for independent monitoring of traders’ performance.
- Before the COVID-19 pandemic, this site frequently hosted trading competitions, offering impressive cash prizes. They might resume these competitions someday.
Finviz is A Comprehensive Tool for Traders to Analyze Markets and Stay Updated on Forex News
Finviz is a powerful online tool designed for traders and investors. It offers a wide range of features to help analyze financial markets. It provides real-time data, advanced charting, stock screeners, and detailed visualizations, making it easier to identify trading opportunities. Finviz is particularly popular for its heat maps and news feeds, which give users a quick overview of market movements and trends. Finviz offers a comprehensive platform to support your trading decisions, whether you’re into stocks, Forex, or futures.
Autochartist
Autochartist is an automated technical analysis tool that helps identify potential trading opportunities in financial markets. Specifically, it uses pattern recognition algorithms to scan charts for chart patterns, Fibonacci patterns, and key levels. Moreover, Autochartist is famous for its comprehensive user manual, which helps traders understand its features and functionalities and makes it accessible to users with varying experience levels.
TradingView
TradingView is a popular online platform and social network for traders and investors. It allows users to share and discuss trading ideas, publish chart analysis, and create custom indicators. TradingView’s community aspect fosters collaboration and learning among traders, making it a valuable resource for novice and experienced market participants. It also offers a range of charting tools and data for technical analysis.
Yahoo Finance
Yahoo Finance is a popular financial news and data platform, not just a search engine. It provides a wealth of real-time market data, stock quotes, news, portfolio management tools, and analysis resources. Furthermore, Yahoo Finance is popular among investors and traders seeking up-to-date financial information and insights.
Investopedia
Investopedia is an online financial education platform, often called the “Wikipedia of finance”. It offers a vast library of articles, tutorials, and guides covering various financial topics, ranging from basic concepts to advanced investment strategies. Additionally, Investopedia aims to make financial knowledge accessible to a broad audience, including beginners and experienced investors. While its structure shares similarities with Wikipedia’s, Investopedia’s content is focused solely on financial education and is curated by financial experts and professionals.
Forex Peace Army
Forex Peace Army is a website that ranks forex brokers. This resource used to be similar to Myfxbook, conducting independent testing of various trading systems and advisors. However, it gained popularity for its “Scam” section, making it a go-to source for broker rating information. It’s like Michelin stars for brokers.
FXWirePro
FXWirePro is a premium financial news service that provides real-time updates and analysis on global markets, focusing strongly on forex news. It delivers market-moving information to traders and financial professionals, including economic data releases, geopolitical events, and technical analysis. With its timely and accurate coverage, FXWirePro helps users stay ahead of market trends and make informed trading decisions. Institutional and retail traders highly value the service for its reliability and depth of coverage.
Check out the sections they offer:
Clicking the hyperlinks in the central field reveals the full text of the event, including statistics, analysis, and reviews. It’s a very comprehensive source of information. We highly recommend it.
We hope the information provided was helpful to you.
DISCLAIMER! The contracts for difference (CFDs) we discuss come with high risks, and you could lose all the money you put in. Make sure you understand all the risks involved before you dive in.
