Top 10 Forex Resources
The average daily forex trading volume currently exceeds $1.9 trillion. With so much on the line, we’ve put together a list of our favorite 100 forex resources to help you become a knowledgeable forex trader. The following resources were chosen for the quality of information and training tools offered. Although some of these tools are located on commercial sites, you’ll find value in materials produced by professionals. Other sites were chosen for the resources that they offered for a price (like books), but they’re all geared specifically toward the forex trader. The chosen sites are written in the English language, but some individuals, businesses, and organizations are located in areas other than the United States. All sites are listed in alphabetical order within the following categories:
Topics Covered in this Article
Beginner’s Paradise | Blogs & News | Charts | Currency & Currency Converters | Directories & Portals | Economic Calendars & Indicators | Fibonacci & Candlesticks | Forecasts and Signals | Forums and Communities | Glossaries | Market Reports | Nonprofit Associations | Practice | Real-Time Quotes | Technical Indicators | X-Tras
Beginner’s Paradise
If you’re a forex newbie, the following sites will help you get a grip on the similarities and differences between forex trading and stock exchange trading. Take advantage of free resources before you dedicate any serious cha-ching to training.
1. Tip’d: Investing and Finance Social Media / News — Get the latest forex, commodities, and market news from the largest investing social media site.
2. Currency College
— Currency College delivers a variety of course offerings with classes that are held at the student’s convenience. Each class is followed by homework and tests; each course lasts about six weeks; and each class contains about ten students. Emphasis is given to risk management. This is not free education, but if you bring referrals to Currency College you could earn a scholarship toward your tuition. This site has plenty of free resources, however, like a comparative chart for various trading platforms so you can make an educated choice about trading platforms.
3. CyberTrading University — This site offers free forex training through a two-hour video that includes a brief history, PIP spreads, majors and crosses, economic indicators, fundamental analysis, technical analysis, short-term long-term fundamentals, trading rules, leverage and margin, trading psychology, Fibonacci Retracement Levels, moving averages, oscillators, Candlestick Charts, Bollinger Bands, and more.
4. Forex Charting 101 — A brief and basic overview of forex charts from Pip Trader. You’ll discover that the charts are very similar to those that you might use for securities trading. But, some of the charts may seem more complicated if you’re not a seasoned trader.
5. Forex Realm —
Possibly the most comprehensive and thorough forex education online. Learn about everything from currency codes to exotic trading strategies through articles, graphics, and concise examples.
6. Forex-Training.com
— Fairly comprehensive training with a free demo account. The highlight to this site is their explanations about various charts.
7. FX Home Trader
— Focus on the information about technical analysis, where you can learn more about Fibonacci Trading, Pivot Points, and more. Their Forex Facts also contain some valuable information.
8. FX Power Trading Course — Offered by FXCM, this paid course is one step up from free at the current price. Learn how to time the market, recognize trends, and basics in fundamental and technical analysis through this eight-day course.
9. Investopedia on Forex — An extensive 10-part article on forex investing, from an introduction to a recap that covers everything from benefits and risks to technical analysis. If you can’t get enough of Investopedia’s information, head to a list of their Forex articles, where you can learn more and download their free e-Book entitled, "High Probability Trading Setups for the Currency Market."
10. Law of Charts
— Joe Ross offers advice for traders across the board, but the information contained in his "Law of Charts" offer speaks to forex as well as any other trading strategy. He identifies chart patterns that result from human behaviors and points to entry and exit targets on those charts. You can take advantage of Ross’s other tools as well, including the forum.
