If you want to stay up-to-date on all the latest Forex news and information, then you need to join these Forex forums. A Forex forum is an online community where Forex traders can come together to discuss all things related to the market. You can get advice from experienced traders, learn about new strategies, and find out about upcoming events.
There are many different Forex forums to choose from, so it’s important to find one that suits your needs. Here are some of the top Forex forums that you should consider joining:
What is a Forum?
A forum is any situation or platform that gives a person an audience to express thoughts, ideas, etc. Internet forums are usually a section of a website.
On this webpage, users can comment on posts and engage in genuine conversations. They can be a really good resource to learn and grow in any field.
Top Forex Forums
There are forums to discuss any subject on the net, forex isn’t an exception. Forex is the largest financial market in the world, it’s no surprise that forums are in excess.
Forex forums have evolved over the years, it is now a hub for good traders to meet and have discussions about market analysis.
Lots of marked-up charts are posted, and new strategies too. So, new things can be picked up occasionally. People can express themselves openly since everyone is anonymous.
#1. Forex Factory
Forex factory is the number one forum for forex-related topics. The forum section is absolutely buzzing all day long.
The economic calendar on this site is highly detailed and arranged. It is updated all day long with zero delays. While key fundamentals can be accessed at a glance.
Furthermore, all of the latest/ hottest news around the globe is delivered too!
Myfxbook is a platform that has automated tools that examine trading habits/behaviours. A few public profiles display their trading systems too, so copy-trading them is an option.
Furthermore, my favourite thing about myfxbook is their trading journal available on their mobile app. The size of the account is set, and each trade taken is then imputed with a summary of the trade idea.
Thus, documenting information in this manner helps with tracking trading performance.
Also, before paying for any trading signal service, their trading result can be audited here. This way, you’re sure you’re getting value for money.
#3. Baby Pips
When it comes to integrating newbies into the world of forex, this website is unrivalled. This field is extremely complex and tough already as it is.
Baby pips simplify information with the use of analogies and jokes to simplify information. Interactive and engaging pictures are used to buttress points too.
The forum page is properly arranged, unlike other sites. Moreover, there’s a dedicated section for answering questions from beginners.
Underneath this, there are various other sections to this forum for other financial markets, and a lobby for non-forex discussions too.
#4. Forex Peace Army
Forex peace army is especially popular for its reviews on brokers. All services provided by brokers are analyzed and rated.
Every single detail you could think of is put under a microscope. The number of pairs offered is listed, and regulations guiding the brokers are mentioned too.
Then, there’s a live chat section for people to air their opinions on each broker, with a rating out of 5 stars. Lastly, there’s a FAQ page to answer any questions you might have.
The most used trading platform for forex is undisputedly the Meta trader 4/5. On their website, there is a forum section.
Naturally, problems are encountered while using the meta trader platforms. This is a good place to get help and feedback. Plus, if you’re a fan of developing trading bots/ strategies, this is where it’s at. On a daily basis, various trading strategy ideas are brainstormed.
Meanwhile, some traders plug in the bots for free, which can be downloaded in one click and uploaded into MT4/5.
No matter how random a google search is, there’s a high chance a search result from Quora pops up. It is a question and answer powered by users alone.
To sign up, a Twitter, Facebook, or Email account is required. Quora is a super educative website where various topics are discussed. Definitely, forex isn’t exempted either, a lot of discussions on forex-related topics are held here.
Reddit isn’t a social media that is widely used by the general public. The content here is validated by users by voting. So, it’s totally unbiased opinions of people.
There’s information on every field you can possibly think of. Even complex fields like coding, astronomy, languages, etc.
Trade2win has a properly arranged blog displaying tons of articles. The articles are subdivided into different categories which makes them easy to navigate.
All the articles can be accessed for free but they have also a paid book that goes for $19.99.
They offer a free trading course which is a great place to start while the forum section is just as organized as baby pips’.
There are various dedicated sections for forex discussions and trading platforms. There’s also a section for other languages which isn’t available in other forums. It’s good to have since not everyone’s primary language is English.
Lastly, job offers and advertisements can be gotten for free on here too which is a nice addition.
#10. Elite trader
Elite trader offers a simplistic site for forex information. Suggestions for trading software, resources, and brokers can be found on the main menu.
The stand out here is their insanely active forum which boasts a total of 100,00+ traders. With millions of posts in the forum, it is a knowledge fountain.
As the statics suggest, only a few traders are profitable, which is evident in how tough forex trading is. It’s not impossible, but it is extremely difficult.
Most traders can’t be true to their trading principles and eventually get burnt. Even if it means a solid trade will be missed stay away if all of our rules are not met.
Further, do not over leverage, use a stop loss always too as capital preservation is the primary goal. Most importantly, patience is necessary do not over-trade, consistency is rewarded in this industry.
To keep staying on top of the market, adaptability is necessary, never shy away from polishing your trading skills.
Easily, the best forex site is forexdominant.com, what they’ve achieved in a short amount of time is remarkable.
This website should be the go-to for beginners to learn aspects of forex trading. Different types of articles on trading theories, the backgrounds of indicators, etc. Of course, trading strategies and broker reviews aren’t left out!
Trading forex involves predicting the market’s direction but it can’t be categorized as gambling. Before any prediction is done, a lot of factors are considered.
Some of these factors are the economic state of a nation, inflation, interest rate, and government policies.
Also, charts plotting the value of one currency against the other are analyzed. This type of analysis is called; technical analysis.
Summary: Top 10 Forex Forums You Should Join
To sum up, a good forex forum is a good place to further your knowledge as a trader. The key to being a good trader year in and year out as a trader is adaptability.
Additionally, you should never stop learning or refining your trading skills. Forex forums give you a platform to learn and meet extremely talented traders who’d give recommendations and suggestions.
Also, the direction of any financial market is driven by sentiment. You can easily gauge this by noting the general bias in a forum.