Forex trading is a topic that attracts a lot of debate and discussion from traders, journalists, and other talking heads. As a beginner, it can be extremely confusing and challenging to sift through all the noise and find what you need.
Here are the top 5 websites that will change your life as a trader in 2020:
- Forex Factory
Forex Factory has been around for ages. On the website, you will find daily news updates on all things to do with Forex trading and other industry insights. Forex Factory’s mission is to provide informational support to traders across the world. Don’t let the somewhat antiquated fronted design fool you; this is by far one of the best Forex news websites you can find today.
In addition to news, this website has a robust discussion forum where new traders can ask questions, read what the experts are saying and discuss their challenges. The blog section contains informative and up to date articles on Forex-related topics. Forex Factory also features free Forex indicators, live data and chats. The company behind this website is dedicated to democratizing financial information.
- Daily FX
This website has been around for over a decade. Daily FX is one of the best news and research websites frequently accessed by traders around the world. The site provides beginner-friendly economic analysis, news breakdowns, live indicators and an active blog section. Unlike the millions of websites out there, Daily FX does not operate a trading platform so you can be assured that the information you read there is unbiased.
This website also doubles up as a learning platform for those who want to learn how to trade Forex. There is a comprehensive learning section called Forex University. Use the platform if you are a beginner looking for a structured point A to point B learning platform. That said, there is a wealth of freely accessible learning assets for beginner traders, including explanations of common trading strategies and terminology.
- Baby Pips
Every trader understands the importance of managing their enthusiasm when it comes to their pips spread. The inspiration behind Baby pips is to teach new traders how not to blow up their entire trading account. Baby pips is by far one of the best news, research, and education websites out there.
Beginner traders will definitely love the fun approach taken by the owners of Baby Pips. There is a good use of simple, fun language and cartoonish illustrations across the websites. Baby Pips even comes with a full-fledged “School of Pipsology” for beginners who want to learn about pips and Forex trading.
Some of the things you find on Baby Pips include but are not limited to the following:
- Up to date forex news including breaking news
- Live and freely accessible Forex indicators on major currency pairs
- Lots of tutorials on beginner topics like pips, strategy, and how to trade
- A frequently updated blog section with opinion, trader testimonials, and tips
- One of the most active forex discussion forums out there
- Perhaps the only existing “Forexpedia”- Contains detailed definitions and explanations of Forex jargon and Forex lingo in use today.
Baby Pips is an excellent resource for beginner traders that you cannot afford to miss.
- FX Street
FX street makes it to this list as a great news and research source to follow in 2020. FX Street provides free Forex data, news updates, and tons of educational content for learners. The website is run by a team of 30 experienced traders in Barcelona but has contributors from other parts of the world. FX Street is also available in 16 different languages.
For a Forex trader, up to date news and information is extremely important. The difference between making a big profit or wiping out your entire account could be found in a single newsflash. These websites provide unbiased news and educational content for Forex traders around the world.