The Forex market is one of the most competitive and dynamic markets globally. It is open 24 hours a day, five days a week, and trades as many as 400 billion dollars daily. There are many ways to get essential information about this market, but what sites should you pay attention to?
When starting in the Forex market, it is essential to learn how to read the various available charts to see the different trends and prices.
Trading with a reputable forex broker is critical to success in the global currency markets. In addition, you may have special needs such as a contract for difference (CFD) trader or forex investors, such as platform, trading tools, or research requirements.
A simple chart that can help you spot these trends is the Daily Bar Chart. It gives you a general idea of the price movement direction for each currency pair by displaying their highs and lows for each trading day.
This article will look at sites, events, and blogs to follow for forex rates. Here are some of the most popular sites to follow:
FX Street
The Top trading product is mainly focused on Forex trading. As a result, traders can use the FxStreet website to learn more about Forex trading, market events, and relevant brokers. In addition, FxStreet.com makes a large percentage of its material available for free, allowing consumers to obtain information and consume content without incurring any expenditures.
FxStreet’s free bundle contains tools, news, and general information.
Forex pairs may also be examined and assessed more thoroughly utilizing indicators and news. Finally, it should be emphasized that the chart form is completely customizable. There are 11 distinct chart versions to choose from. Two examples are the candlelight chart and the bar chart. Other unique charts, such as the Heikin-Ashi chart, are also available.
Market Insider
Market Insider is a platform for professional investors and non-professionals to track the trillion-dollar global financial market. From stocks and sectors, performance and earnings, to currencies and commodities – Market Insider provides up-to-date information and analysis for all things finance. Market Insiders’ mission is to provide objective news, commentary, and analysis for the financial sector.
A group of ambitious entrepreneurs founded MarketInsider.com to provide reliable, transparent, and unbiased news and data to the financial community. Today Market Insider has grown into one of the leading online financial portals globally, with a network of more than 50 contributors, including professors, portfolio managers, and industry experts on finance.
Over its lifetime so far, Market Insider has reached over 40 million unique visitors a year globally (of which 80% are located outside North America).
You get instant access to real-time charts, data, and coverage of stocks trading on national exchanges. In addition, the stock screener allows you to compare the performance of companies side by side, view financial statements and market statistics, and track a company’s price history.
Furthermore, Market Insider is supported by its sister site Morningstar.com (NYSE: MORN), which offers unbiased ratings and analysis on stocks, mutual funds, exchange-traded funds, and other investment products. You can read about forex trading for beginners in Nigeria
Myfxbooks
Myfxbook is a popular social trading platform that allows users to discuss, analyze, track, and compare their trading results.
In addition to putting yourself up as the principal trader in an auto trading network, you can use Myfxbook to set up auto-trading to follow your chosen traders. The Myfxbook interface’s usability and intuitive nature make it simple to use and provide direct inputs and outputs.
Myfxbooks is an excellent website that can help traders track their profits in real-time. It is an excellent tool to help traders increase their success.
Myfxbooks enables users to track their accounts over time, keeping them in the loop with their portfolio and its value. It is also an excellent way to get more involved with a trading strategy by letting you know when you have entered a trade within your account, allowing you to monitor potential trades and make any necessary changes to your portfolio.
Also, it keeps track of your profit/loss ratio for each trade, so as you gain experience with trading, you can compare your strategy to see if it is working or needs some amends.
Myfxbooks is an award-winning financial platform that conveniently allows users to save and compete with their peers on various trading platforms. In addition, they can help you with the following:
- Comprehensive statistics and examination of your Forex Trading account.
- Stay on top of the Forex market with our advanced dashboard.
- Make a record of your trading expertise by using your trade analysis page.
- Forex Forum, where you may learn, compare, and improve your trading skills.
- Trading Analysis and Portfolio Tracking.
Dailyfx
Dailyfx is the best place to learn forex trading today. There are thousands of currencies, more than 32 currency pairs, and a complex currency market. If you want to trade these currencies on the Forex market, then Dailyfx is your first stop.
You will be able to find everything you need in one place: news, charts, graphs from around the world, and trading tools. You will also view live quotes and get up-to-date information about what’s happening in the markets on this website.
Abokifx
AbokiFX Limited is a website that offers daily updates and information on Naira’s parallel market (black market). The platform is designed to provide you with updated rates on the parallel market of the Nigerian Naira and its value in US dollars.
AbokiFX has been designed for traders, foreign exchange dealers, companies, government agencies, and people involved in import-export trade. It seeks to provide traders with a highly organized and accurate tool for calculating their profit margins when converting currency values.
AbokiFX Limited also offers a comprehensive database and analysis of Africa’s foreign exchange trading, the Naira’s slippage in the parallel market, and the effect of oil prices on foreign exchange markets across Africa.
Finally, it provides Nigerian investors with a free service to track the value of the Naira today in parallel with daily updates on currency rates.
Investing Fx
This site is dedicated to the financial world of stocks, bonds, and investments. Everything you need to know on this topic can be found here, including but not limited to: investing strategies and techniques, risk management, basic finance concepts, and math formulas, and expert opinions on the latest in the financial world.
Forex factory
Forex Factory is a social trading community, the world’s largest forex trading discussion forum by several daily visitors, and one of the most active forums in the world. You can read the latest news and developments in forex, discuss trading-related topics with other traders, and share your views. Plus, it’s 100% free!
Forex Factory also has Forex News from leading financial publications such as Reuters, CNBC, and our FxStreet.
XE
XE is the world’s leading foreign exchange (FX) data, news, and analysis provider. Our mission is to give customers a complete view of FX markets to improve their trading and investing decisions.
The best part about using XE? You can get personalized forecasts for your account before deciding whether or not you want to execute a trade. Want to know which currencies you need to buy or sell today? Just sign up for free and use our automated trading service.
Oanda
Oanda is an American and Singaporean global online financial services company founded in 1999. It is headquartered in Chicago, Illinois.
Oanda provides pricing data and trading tools to over one million registered users across 180 countries and regions through its platform OANDA fxTrade®. The company’s customers are businesses and retail traders who trade forex, commodities, metals, and other financial instruments on www.oanda.com.
BabyPips
This website provides a daily analysis of the Forex market from their Barchart system. They provide you with live quotes and analysis for the entire market, so it is good to follow along. They also offer trading strategies and weekly and daily analysis reports. This site is great to get ideas from and follow the trends.
BabyPips provides education and learning content to individual traders on currency trading to become profitable traders. Forex trading is not just about technical analysis. Forex traders should be updated on the economic data, market news, and global financial events that impact the Forex market.
The daily forecasts and trade ideas are provided to individual traders to make better trading decisions using their technical analysis tools. The ideas provided by the expert analysts at BabyPips help Forex traders make their trading strategies by providing price action confirmation.
After deciding which currency pair to trade, traders can then use technical analysis to forecast future price movements in that currency pair.
BabyPips provides a forum where every trader can discuss and share information with other traders.
In conclusion, It is essential to ensure that you are confident with your trading skills before venturing into Forex trading. When you realize that you are not a professional trader, do not worry. You can leverage different sites and blogs we’ve discussed to learn from professional analysts’ views and opinions with your spare time and resources.
Furthermore, learning about the ways of other traders in the Forex trading industry will make it easier for you to have a successful trading career in this fast-paced market. You can read about top forex trading platforms in Nigeria and forex scams in Nigeria
