Top 10 Forex News Sites to Increase Your Profits
One of the most common characteristics of successful forex traders is that they are always in tune with market events. This involves following the latest updates from central banks and economic bodies and any geopolitical events that could affect exchange rates.
There are several ways of keeping tabs on such information. You can stay glued to a forex news channel on a streaming platform like YouTube, watch a business news channel on television, or use the most reliable platforms, forex news sites.
The best forex news sites have common characteristics, which are defined by the categories of information they provide and the tools and features available for users.
Basic Tools and Features That the Best Forex News Sites Have
Some websites could still rank among the forex news sites without having all the tools available on other leading news sites for forex trading. However, these tools and features are the first signals of a quality forex news website.
An Economic Calendar
An economic calendar outlines all the upcoming major economic events including the currencies they are likely to have an impact on and the level of impact, which ranges from none, low, medium, and high. Some platforms present the impact ratings on stars.
Some news platforms also allow users to activate specific news alerts so that whenever an event affecting a selected item takes place you are alerted via their news app or web pop-ups. Some of the items you can choose to receive alerts on include US FOMC minutes, Federal Reserve interest rate decisions, as well as, specifically updates on currencies and crypto.
Currency Converter and Margin Calculators
You can use currency converters to assess the potential cost you are likely to incur from a single trade. On the other hand, margin calculators can help you to calculate the required margin for your position based on your account currency, the pair you wish to trade, and your leverage.
And if you have different account types, then using a pip calculator can also come in handy when assessing the cost implications on micro, mini, and standard accounts.
Advanced platforms also provide access to a Fibonacci calculator, position size calculator, and pivot point calculator among others.
Technical Charts and Indicators
Another feature that you will find on top forex news sites is access to charting tools and indicators. Top news sites have their proprietary charting tools and indicators. However, others use premium charting tools and indicators service providers via an API interface allowing their users to analyze forex trades on their platforms.
An important feature that you will find in most of the top 10 forex news sites is a forum. Forums give the best sites for forex news an opportunity to build an engaging community. Here you can interact with fellow traders to gain insights or to cool off after a bad trading day.
The Best Forex News Sites To Follow Every Day:
The list below takes into account several aspects, with priority placed on the quality of forex trading news provided, trading tools offered, and features, over the website traffic rank. To put things into perspective, investing.com is ranked higher than FXStreet in terms of traffic, but it is not better when it comes to providing forex news.
Without a doubt, FXStreet is one of the most important websites for forex traders. With over a dozen articles published daily, often within minutes of one another, FXStreet keeps the page updated whenever there is something new, so you won’t need to refresh it frequently.
On FXStreet, user experience is enhanced by providing access to charting tools via an API linked to TradingView, a leading platform for forex traders. The platform also provides access to various forex trading calculators, the option to activate alerts on specific topics, and one of the best economic calendars you will find in the industry.
FXStreet also boasts a strong team of writers and contributors including bankers and brokers, widening the scope of content available on the platform.
You can also filter articles and analyses by currency pair on FXStreet, as on many other forex news websites on this list.
2. Forex Factory
Forex Factory is one of the top-rated forex news sites. Unlike FXStreet, Forex Factory aggregates news from multiple sources. Since you can pick from many news sources, you don’t have to rely solely on one to keep up with what’s going on with the forex market.
The news stories are also rated according to how much impact they are expected to have on relevant currencies. There are three levels: high (red), medium (orange), and low (yellow). There are several forex-related posts on the Forex Factory’s forum, and it’s an excellent source of information. On the Forex Factory website, you can also see how well people are doing against the market by looking at the trades they are making. The platform also offers an intuitive economic calendar to guide users on upcoming events.
The DailyFX forex news site is one of the best and most popular forex news sources. A team of excellent market analysts reports regularly on forex trading news for this website. DailyFX writes short and informative articles backed up with technical analysis, just like many of the other forex news sites on this list. With a whole page dedicated to technical analysis, DailyFX is also great for trading strategies.
A useful feature of DailyFX is that it shows you how bullish or bearish traders are at the moment. To put it another way, this is where you can find out what percentage of traders are buying or selling different currency pairs. There are also articles on cryptocurrencies, commodities, and indices available for traders to read.
There is a wide range of markets covered by investing.com, including stocks, commodities, and cryptocurrencies. They also divide their articles into sections like economics and politics.
A key feature of Investing.com is its live charts which highlight specific events that likely impacted movements as well as key candlestick patterns that you should be aware of. A variety of technical tools and summaries are available at Investing.com that can help traders make informed decisions.
Most of their focus is on moving averages and pivot points, but they do have a page that summarizes major pairs based on different indicators. There is also a section dedicated to personal finance titled ‘Money’.
There are hundreds of articles published every day on Forexlive, one of the largest forex news websites today. Their news stories are often short, sometimes around 100 words, but they cover a wide range of topics. As a result, you can do your analysis based on what you see in the news. It’s just a matter of showing you which direction to look.
The site also has a technical analysis section that’s useful for technical traders. As with the previous posts, the technical posts are quite short, but they contain a lot of information and charts, and they post several times daily. There is also a cryptocurrency section on Forexlive that can be of use to cryptocurrency traders.
Among all forex educators, BabyPips is certainly the best known. Their material is known to be entertaining, educational, and sometimes even humorous. Aside from being a popular place to look up forex-related terms, they also publish news articles on forex trading.
There is a strong focus on the US dollar. On Mondays, they publish weekly forecasts, while on Fridays, they publish a weekly review of various currencies. For technical insights, readers are advised to check other sites other than this one since most of the articles focus on fundamental analysis.
It can also be useful if you just want forex news and don’t care about other types of trading, such as cryptocurrency and stocks.
7. Top Brokers
Top Brokers is a forex news site focused on providing broker information including reviews and regulations. The platform also provides trading news and analysis about specific currency pairs and live charts.
However, one of the main reasons why you will find Top Brokers useful for forex trading news is the ability to provide everything you need to know about your broker from spreads, swaps, and account types.
You can also compare different forex brokers to decide if you want to change. You can choose region-specific brokers or brokers with operations in multiple countries.
Another important feature you will find on TopBrokers.com is access to educational webinars and the ability to copy the trades of others by following instructions on a dedicated page on the website.
8. Fx Empire
One of the most popular forex news sites today is Fx Empire. There is usually an article published every day in their news section. The section on forecasts, however, is the most useful for traders. It is common for the forecast section to publish several articles in a few hours. Topics can also be filtered so you only see what you’re interested in.
Along with insightful articles on forex trading, Fx Empire publishes articles on commodities, indices, equities, and stock exchanges.
9. Action Forex
If you are looking for the latest news on major and minor forex pairs, Action Forex is a great forex news site to follow. The weekly outlook report should be part of the traders’ Monday reading schedule. It is a great place for those seeking both a technical and fundamental look at how the markets are moving since the weekly outlook largely focuses on technical analysis.
Many of Action Forex’s articles are not written by the company itself. They publish many articles written by banks and brokers. Besides offering informative articles on trading psychology and strategies, Action Forex’s in-depth reports provide readers with insight into the fundamentals of forex trading.
Finance Magnates has a specific section dedicated to retail forex news published by its in-house team of authors.
The EARNFOREX website releases up to seven articles a day, usually about specific currencies. The site allows you to filter news by currency and browse old stories in its archives.
They provide plenty of information, including links, quotes, and statistics, in short, to-the-point articles. Their publications cover a wider range of topics than just major and minor pairs. Generally, they will publish articles throughout the day, usually focusing on potential market changes in the morning and reflecting on the day’s events in the evening.
Learning everything you can about the current Forex market with the help of many of these forex news sites is a key factor to a successful forex trading experience.
However, if you find it too much for you to keep tabs on what is happening in the market, you can always use a signal service provider and a trade copier system.
A copy trading system such as Telegram. Forex allows you to replicate the trades of expert traders and achieve success together.
The Telegram.Forex app also provides access to multiple services allowing you to choose the best that suits you depending on the verifiable success rate of the service provider.