Forex Factory Is Such a Helpful Site for the Forex Traders, but If You Are a Forex Trader, There Are a Few Things That You Have to Note, Otherwise You Will Get Scammed by the Scam Forex Brokers.
If you are investing in the Forex markets, one of the best opportunities to book maximum profit is trading via Forex Factory.
A website dedicated to traders, the ForexFactory.com boasts of many unique features that truly make your trading experience a lot more fulfilling.
One of the biggest factors that can impact your Forex market trades is decidedly timing.
This is exactly why features like Forex Factory calendar and Forex Factory news help investors get better value for their investment and book significantly sustainable gains.
Whether you are an amateur small-time investor or a professional Forex trader, Forex Factory is a popular choice for most serious players in the money market.
Launched in 2004, this is one of the top-rated Forex trade websites globally as per Alexa ratings.
One of most striking features of ForexFactory.com is that it provides exclusive market intelligence to its members.
The regular inflow of information and news keeps them ahead of the competition and helps them to peg a profitable trade constructively.
If you refer to traders’ reviews of ForexFactory.com, they often consider it one of the fastest and accurate sources of information that can materially alter the course of their trading.
The insightful details coupled with timely updates make sure that the investor is always ahead of peers in terms of investment strategy as well as the profitability and that makes for assured gains.
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User-Friendly Interface Helps Forex Factory Users
The jury is out on what makes a great website.
While the design of some websites appeals users, the content of others might provide them with greater information.
The idea is, whatever the content might be, it should be available to users in a simple and uncomplicated manner.
This is exactly why the Forex Factory website is such a big hit amongst its users.
It is pretty much a one-stop shop that provides you unflinching quality without compromising on the design elements.
Focused essentially on the needs of Forex traders, this website helps you access the most relevant details in the shortest possible time.
It is, in many ways, the most accessible and easy to navigate website on money market dealings.
It enables relatively error free access to a minefield of information that can enhance your trading abilities and offer better prospects of gains.
The most important element of the website is the interface.
The tabs, the operation procedure is rather uncomplicated, and anyone can master it rather simply.
Whether you want to undertake a trade or validate the authenticity of news to base your trade upon, you will get a rather clear and constructive idea on the way forward.
The navigation tool enables you to move from one tab to another without any hassle easily.
The quick hyperlinks make sure that you can get the most relevant information first.
15 Years of Business
Moreover, the fact that Forex Factory has been in business for nearly 15 years now is pretty well borne out in the content and presentation.
The designers of the website are extremely mindful of demands of Forex traders globally.
They’ve been rather fast in introducing the elements that enhance the trading experience.
You don’t have to be a website designer to understand that ForexFactory.com is all about easy navigation.
Most importantly the home page has a user-friendly manner.
It provides a host of information and data without even the click of a mouse. From the latest rates of different currencies to the latest news updates, you get it all on the home page.
So, in just one glance, you know the trade triggers and how to move forward.
Key Product Features On Forex Factory
When you are looking at different Forex trading platforms on the internet, what is the base on which you can differentiate between a great site and a mediocre site?
One of the simplest ways would be by comparing the various features that are available and the way all of that can help expand the scope of your profit.
So, let’s analyze the different product offerings from ForexFactory.com and how you can better your profit prospects using these alternatives:
1. Forex Factory Forums:
The forums is one of the best offerings and most notable products from Forex Factory.
What makes this forum rather special is the buzz of activity surrounding it.
It is one of the most active forums in the financial world.
Not only by sheer numbers but the variety of topics and kind of in-depth discussions that happen make these forums a great platform to expand your knowledge base.
According to estimates, these forums on ForexFactory.com attract participants from almost every corner of the world.
You have brokers from across the world interacting on a variety of financial issues and trading trends.
In many ways, it is not just an interactive hub but will offer you some direct life lessons on trading Forex.
– Get a Solution on Any Trading Issue
Another big advantage of the forum is that you can quickly get a solution on any trading issue that you might be facing.
Even if you do not interact actively, most of the discussions thread on this forum are buzzing with activity 24×7.
Sometimes just by reading them, you can get access to a lot of information.
The trader who is looking for potential options can easily refer to any of these forums and get some simple and easy to apply solutions.
The topics discussed on these forums is particularly interesting.
If you are just starting with Forex trade, it can help you sharpen your trading skills.
Moreover, the forums are in a way that they help in accessing information a lot more actively.
They have neatly arranged the forums under different headers like Interactive Trading, Trading Systems, Broker Discussion, Rookie Talk and the like.
Just one look at them and you can easily understand the issue.
Depending on the kind of information that you are looking for, you can easily join the necessary forum and connect with the people who could help you.
2. Forex Factory Calendar:
If you are trading in Forex, it is unlikely that you have not heard about the Forex Factory calendar.
As many money market traders have mentioned, this is that key catalyst that helps you make the most of your investment.
Most reviews posted by regular Forex Factory users indicate that often getting access to the Forex Factory calendar is the single biggest motivation to sign up for this online Forex trading platform.
Well, you might wonder, why do you need to a Forex Factory user to access a calendar.
This is because it is not your regular date calendar.
This is undeniably one of the most comprehensive economic calendars that you could lay your hands on.
According to a review, the Forex Factory calendar was so innovative that it has actually changed the economic and financial calendars.
The Forex Factory calendar has several unique and useful elements that no doubt help you undertake profitable trades.
Apart from the dates of key economic data, the calendar contains
- Impact ratings
- Adjustable time zone
- Real-time links to event sources
- Real-time data release
- Economic charts
– Comprehensive Viewing Chart and Relevant Filters
Along with it, they have a comprehensive viewing chart and relevant filters that make sure you are able to access the most relevant news to aid their trade.
This kind of financial information is extremely useful for undertaking Forex trade.
They impact money market movements quite pointedly.
In fact, just by deciding to enter a trade before or after a certain data release, you can clock in gains or losses.
You can be a first timer in the market or an investor in the Forex market.
In both cases, you will know exactly how to position your trade in sync with these data releases.
But the Forex Factory calendar is unique not just because of the huge treasure trove of data.
It is also because of the battery of highly trained experts who are constantly keeping a watch and updating details at regular intervals.
The financial economists who are working day and night with Forex Factory are working overnight to keep the data list updated and also make changes wherever necessary.
The calendar is known for its accuracy and is, in fact, legendary for its reliability.
There are many other Forex trade sites that use the Forex Factory calendar as a primary source to create their own calendar.
3. Forex Factory News:
If you are trading in Forex instruments, you already understand the importance of new elements.
Be it the PMI data or the PM of the United Kingdom making an announcement on Libor rates, all of these triggers swift money market moves.
Depending on the kind of news, it can bring in rather swift and sudden changes in the market.
In fact, your entire trade can be reversed as a result of many of these news triggers.
Therefore, the best way to deal with these is to be aware of the various news developments and adjust your trade accordingly.
Moreover, the Forex Factory news was instrumental in completely changing the presentation of Forex news to traders and money market dealers.
It was for the first time a unique forum was created where news was submitted from a variety of sources.
However, the tight control by the Forex Factory editorial team makes sure that false news or falsely reported news does not make it to the readers.
However, at the same time, many news buzzes or even presumptions that are moving Forex market is made available to the readers.
But Forex Factory makes sure that the relevant caveats are still in place.
This means the reader gets access to the trigger, but at the same time, they are able to make an informed choice based on the authenticity of the news.
– The Quality of the News
The Forex Factory News team employs very experienced editors to make sure that the quality of the news is not compromised with and the users can remain updated about the most important developments.
What is really interesting is that the Forex Factory News team remains alerted and on duty 24×7 and if there is a news break, they are always amongst the first to report it.
The result is that most Forex Factory users get to know the news as it breaks.
It is particularly relevant in money market trades.
Money markets are operational 24×7 and are very deeply linked with the global developments.
Knowing the news first hand always gives you the first mover’s advantage.
You can position your trade well in advance, even before your local markets respond to. In fact, you can also take advantage of the movement or gains that might be seen in some market that is operational when the news breaks.
Therefore by using Forex Factory, you can stay assured about your gains.
4. Forex Factory Market:
This is another extremely useful and a very innovative product offering from Forex Factory.
There are three main elements of the Market product. These are:
All these three parts are powered by the Forex Factory’s Market Data Application.
In common terms, this is a platform that aggregates data from multiple brokers.
This makes sure that you get the best possible real time rates in a most comprehensive manner.
It is a rather state of the art sophisticated and innovative infrastructure that has been developed by the Forex Factory technical team.
To make sure that the users get the most relevant and real time rates, they source the information from multiple brokers, and then they collate it.
This then makes sure, that user always gets the best rate that is closest to the actual numbers.
That also makes sure that the relative lag in rates is as minimum as possible.
In fact, the MDA or the Market Data Application is often known as the True Pricer.
It can be used to benchmark prices from many separate operators and bring in a more centralized rate for money market dealings.
This makes sure that an otherwise OTC market gets a relatively better and a fairer deal to execute their trades.
The scanners and charts are freely accessible to all the users, and they can use it at any point of time to undertake their trade effortlessly and without any glitch.
Moreover, to make it even simpler for the users, Forex Factory has even incorporated a series of user guides that help users to take advantage of these facilities rather seamlessly.
These user guides also help address any doubt that Forex Factory members might have about the potential of the chart and the relevant usages.
5. Forex Factory Trade Explorer:
The next most important feature that you must know about the Forex Factory is undoubtedly the Trade Explorer.
In fact, the reason why this website is so popular is that the ease of trade that it portrays through the various trading elements that it incorporates.
One of the most popular alternatives in this context is Trade Explorer.
Forex Factory launched this feature in 2011, and this is essentially a web-based interface for easy trade.
It facilitates potentially a seamless trade that can be analyzed in a rather intelligent fashion.
But that is not all.
The Trade Explorer doesn’t just allow analysis of trades that you had undertaken earlier but also any trade that you might take up now.
Moreover, the trade explorer is automated in a way that it synchronizes with the brokerage account connected with it.
Though there are some areas where there is scope for further development, the Trade Explorer is rather dynamic.
Forex Factory has been continually bringing in a whole gamut of innovation that will help improve the trading experience even further.
Features like the graphing capabilities that is quite powerful, time-zone synchronization and control on equity balance make trade execution quite seamless.
Forex Factory keeps adding new features depending on the various demands of changing trade dynamics.
This makes the deal even sweeter for users, and they can easily take advantage of these in a comprehensive fashion.
The graphing capabilities of the Trade Explorer are particularly commendable.
It helps traders understand the patterns real-time and undertake a constructive fundamental analysis of the different parameters that go on to complete their trade properly.
Therefore, it is almost needless to add that the equity balance control also improves the relative focus in trade.
The automated systems cut down the relative margin of error significantly.
Live Trade on Forex Factory
When you compare the Forex Factory with several other websites that enable live trade, you will obviously compare the features and the ease of execution.
We have already understood that one of the biggest advantages of using Forex Factory is the relatively real time rate that they offer.
It is not just extremely close to fair price levels, it also helps the traders take up trade as close to market price as possible.
In the Forex market dealings, this is rather useful.
Even a difference of few cents each unit can make a huge difference.
Remember the huge profits that George Soros made by shorting pound.
While on an individual basis, it was just a few cents, in the end, he could add many millions to his profit.
Therefore, the importance of this innovative offering from Forex Factory is pretty well borne out.
It was available on ForexFactory.com from December 2011 and providing live brokerage facility to thousand of traders.
Often the hub of many experience and astute traders, this live trading window can often be your best training ground for Forex market dealings.
– A Unique Trade Feed
The product also has a unique Trade Feed application.
It reflects real-time trades to users.
Essentially these trades are also made by other Forex Factory users who had opted to make their account public.
That is another great feature of this product. The ForexFactory.com website does not misuse your personal data.
You have the option to make your data public if you choose to.
However, if you are more comfortable keeping it private, you can do so.
The automated analysis by the Forex Factory website enables a real-time analysis of the trades that can be seen.
There is also a readymade Leaderboard that keeps scores of the returns that each account is getting.
Based on this it computes the top returns made by specific accounts.
You can always try and replicate the trade that they are undertaking and take advantage of the big returns.
Brokers Can Take Advantage of Forex Factory Features
However, if you think that the Forex Factory features are only created to help seasoned investors, then you are mistaking.
There is a special ‘Brokers’ product to help first timers glide through the Forex market and access brokers without a huge problem.
In many ways, this product is an advanced guide that is targeted to understand the various elements and challenges of being Forex market brokers.
In fact, this broker guide boasts of several state of art features coupled with a variety of information that enables users to assess and understand the market challenges in a far more succinct and comprehensive manner.
Moreover, Forex Factory also brings in latest information and real-time spreads to helps them create better trade and enable greater profit.
All of these features are beautifully packaged within a beautiful interface.
The Broker interface is, in fact, both versatile and extremely dynamic.
That makes sure that you are able to get the maximum possible advantage as a broker using this platform.
You can compare and make an informed choice about the broker that you want to select.
Moreover, there is no manipulation of data here.
All the information is right in front of you, and you can easily decide on the basis of several parameters.
You can check the returns, the rates and then make an informed call on the final choice.
In many ways, this also helps bring in more transparency in the money market.
Investors are more or less clear about the term and rates they are dealing with.
Some of the Unique Facts about Forex Factory
But that is not all.
There are some unique features about this online platform that completely set it apart from most other online Forex trading platforms:
One of the reasons why Forex Factory comes across as a rather reliable platform to undertake complex Forex trade also is because of the huge traffic it attracts.
At any given point of time, ForexFactory.com has thousands of traders online at any given point of time.
It means it invests a significant amount of money in not just creating these hosting resources but also monitoring and patrolling them.
The Forex trade platform also invests in manpower to continuously weed out spams and issue warnings to users.
2. Reasonably Huge Profit:
Well, we do understand that ForexFactory.com is no Google.
But even then, they command a reasonable amount of profitability.
One look at the company’s headquarters and the plus setting will make you gauge that.
For a single website to generate that kind of funds, Forex Factory has to really generate very high profit.
3. Revenue Sources:
Therefore, the reasonable question is how is Forex Factory driving this kind of revenue.
Well, estimates indicate that it is probably earning millions just by ads.
For a website that has over 10,000 traders online at any given point and over 100,000 visitors a day, imagine the money that brokers would pay to place an ad on their site?
Well, the popular guess is simply huge.
There are also estimates that they are probably charging brokers separately to get listed on the ForexFactory.com website as well.
4. No Mobile Version:
On an average, ForexFactory.com is extremely in sync with the changing demands of time.
Be it the Forex Factory News or Forex Factory calendar; it is quite clear that they are taking advantage of the best possible technological advancement to help its users stay on top of every development in the financial world.
However, this website does not have a mobile version.
If you speak to the company, you would realize, Forex Factory is not even planning to create one.
They feel it is working just as fine and they are not interested in working on a mobile version just yet.
5. Founder’s Identity Not Known:
However, one fact about Forex Factory is rather curious.
Though you can easily ascertain that it is a company based in the United States, the whereabouts of real owners is still a mystery.
There is no clear understanding or precise information about who owns it or who is the founder of this mega online Forex trade platform.
Of course, if you are very interested you can undertake a detailed probe to get closer to the truth.
ForexFactory.Com Can Be a Great Option
Therefore, all in all, we can conclude that if you are looking at an advanced and state of the art online Forex trading platform, ForexFactory.com can be a great option.
From starting with 100,000+ visitors every day, to providing you with best possible features of the online trading platform, there are many reasons why you could choose Forex Factory to further your investment plans.
The various product offerings also address the investor concerns.
In fact, the Forex Factory calendar and the Forex Factory News are undeniably the show stoppers for the website.
Regular users consider these as indispensable for their investment success in the Forex market over the long-term.
The real-time rates on ForexFactory.com is another key positive.
In many ways, Forex Factory is the ultimate true market player in the world of finances.
Be Careful about the Forex Factory Scam Brokers
No need to say that maybe 99% of these companies are retail Forex brokers.
Therefore, retail Forex brokers are the most important source of income for Forex Factory.
Forex Factory doesn’t have any responsibility about the performance of the brokers that advertise on this site.
Therefore, any broker can advertise on Forex Factory.
Forex Factory clearly mentions that only the brokers that are regulated by one of the regulatory organizations like CFTC/NFA, can advertise on their site.
However, experience has proven that regulation almost means nothing when it comes to cheating the retail traders.
I mean when a brokers wants to cheap the traders, it does it anyway, whether it is regulated or not.
Unfortunately, sometimes I have seen that the brokers that are strongly regulated, cheat their clients more than the others.
So, the fact that a broker advertises on Forex Factory, doesn’t mean that it is a good broker.
This is something that you have to consider.
You can easily use the services that Forex Factory offers.
But be careful about the companies that advertise on this invaluable site.
On the other hand, it seems Forex Factory doesn’t like the users to talk against the brokers.
Brokers are the most important sources of income for them after all.
If you talk against a broker, chances are they revoke your account.
The same thing will happen if you try to open the people’s eye on some bitter facts about retail Forex trading.