When you are interested in Forex trading, but not sure who to go with, a trusted source for information on currency exchange trading is nice to have. What makes this review unique is that Forex Factory is not a broker, but yet a company that is highly regarded as one of the fastest and accurate informative sources in Forex trading.
Forex Factory was established in 2004, and since then, has done nothing but cement itself as a leading aggregate for Forex trading information. The Forex Factory website is rated by Alexa as one of the best Forex company sites today within the top 3000 in the world overall.
This review will show everything you need to know about the company as far as, the positives, the negatives, standout features, policies, and much more.
Forex Factory isn’t a broker, but if you are looking for one, consider them a hub for your broker needs. In fact, if you are looking for a trusted and regulated broker to do your trading with, the chances are that, Forex Factory, will have them listed on their broker list.
Established in 2004 and located at 100 North Tampa Street, in Tampa Florida, United States, Forex Factory is a registered trademark in the U.S, South Korea, and Australia. They have trademarks pending in Israel, China, Japan, and Russia. They are a leader in aggregate Forex news.
Forex Factory has the largest Forex forum in the world, and only advertises Forex brokers who are regulated. This will help make our decision much easier when it comes to trust.
Forum: Foreign Exchange Intelligence Worldwide
A recent review of broker, Oanda, can be seen advertised on the site of Forex Factory. This is because, Oanda, has a great reputation in the industry, and that Forex Factory does its best to appeal and share the most reputable and trusted companies in the Forex industry.
The bread and butter of Forex Factory is by far their forums. This is a chance for you to talk about your trades, investments, and ideas with other traders and users. You can do this in peace, and without haste, because Forex Factory keeps their forums clean of hogwash negativity and bad mouthing.
Some topics you can expect to see, but not limited to are, “Broker Discussions, Rookie Talk (for beginners or people looking to give advice to beginners), Platform Tech, Commodities and Stocks, and Commercial Content. Again, there are more discussions being had and most likely you’ll find something that appeals to you.
These forums are always active, and they show how many users are online. At any time, you can be discussing a current news release with thousands of traders like yourself. There’s a great variety of subjective discussion in their forums, which is highly beneficial for you to seek information on certain topics.
It should be noted, again, that Forex Factory is not an introductory broker or has any monetary partnerships.
Forex Factory Calendar
The Forex Factory Economic Calendar may be one of the most comprehensive and sought after calendars of its kind. With 1.4 million users in May of 2017 with around 20 million page views during that time.
The unique calendar is broken up for you to consume as much Forex information possible. This includes:
l Impact Ratings
l Adjustable Time Zone
l Real Time Links To Event Sources
l Real Time Data Release
l Economic Charts
Forex Factory makes their calendar super easy to read, navigate, and comprehend.
Here you will find the most recent and important Forex news at your fingertips. The news section is 24/7 for your viewing anytime you like. You’ll get “New as it breaks,” which is beneficial in the Forex industry, because it could be news that possibly impacts a trade.
This is a great section, where you can check out the live account and trade feeds of positions, filter by currency pairs, pips (detailed explanation about pips), and also the leaderboard of different traders like yourself. It can be used as a reference or as a competitive and fun way of Forex trading.
The trade feed allows investors to keep track of the progress of others and yourself. You can make your account private or you can make it public like the other trader, whichever you prefer.
Membership is free, but Forex Factory does have a stringent and no nonsense policy. For instance, if you badmouth or disrespect a broker or another trader, you can be banned or revoked from using their site.
This may be the single reason, Forex Factory has emerged as one of the most prominent players in the Forex intelligence world.
You have three sections at your disposal. The scanner, chart, and sessions. All three are powered by their own patented creation, Market Data App. This app aggregates brokers data and real live rates, while keeping you as close to the real deal as possible.
The Market section was created for experienced traders to help them analyze information and minimize weaknesses. This app, or feature, will allow you to capitalize on your strengths, while keeping you informed at the same time.
You can even create up to 8 trade explorers of your own, if you prefer.
This is my favorite section, for it allows you, the user, to check up on different brokers. Think of it as a way for different companies to compete for your business. Forex Factory lists different brokers, their founded dates, their regulated bodies, leverage rates, currency base, location, and what platform they use.
This broker menu is a great guide for investors like yourself or newcomer to find a broker that makes the most sense to their trading needs.
l Free membership.
l Very detailed market information
l Resourceful broker list.
l Trust reputation and only lists broker’s who are regulated.
l 24/7 news at your convenience.
l Great place to discuss the happenings of Forex trade.
l The most utilized forum, which is very informative.
l Forex Factory isn’t a broker or an introductory broker.
l They do not have a mobile friendly app as of this review writing.
l They could use more transparency with regards to their “About us” section. All we can see is where they are located, but no information on who owns them. You shouldn’t have to dig deep to find out who owns a company.
The Final Words
While they could be more frank and open about who owns the Forex Factory, as well as create a platform for people who like to trade on the go, Forex Factory is a hit for what it is. And what it is–is a great place to get all the information on different brokers in the Forex industry, while gaining insight on the latest activity in the Forex trade world.
One of the more important factors that makes Forex Factory stand out is, they only list brokers, who are regulated. While they do make their money with their lucrative advertisement abilities from different brokers, it is nice to know that Forex Factory will recommend and advertise companies based on their ability to be trusted.
If you are feeling a little low on information, and need a good starting point to break into the Forex trade world, Forex Factory is a highly recommended place to start with to interact with other traders, access comprehensive charts, and to get all the information you could ask for in the Forex trade world.