Information about currency of the world…
Anyone that has ever travelled has likely found it interesting how their country’s currency converts to the currency in the country that are visiting. What many do not realize is that there are investors that spend their time converting currencies in the hopes of making a profit. They do not spend their time at the bank or at a currency exchange office because these types of trades can be done online just like stock and bond trades.
The research is somewhat different for this type of trader because timing is extremely important. The forex market moves rapidly and an investor needs a good place to keep up with news and trends that affect currency. The following ten websites are the highest rated websites that these investors turn to on a daily basis. Even those that do not do forex trading can gain insight into this unique world and perhaps spot things that will also affect their other investments.
Global Alexa Rating: 1,675
The moment you open this website you can see how it has become the most popular website for forex traders. The home page begins with all the news that impacts world currencies. It is colour coded so you can see just how severe an impact the news is. The time of the news, the currency affected and the pertinent detailed information are all easy to see at a glance. Equally beneficial is the vigorous forum which encompasses all aspects of trading. The home page even lists the most recent forum discussion posts. Other relevant information includes positions, trade feed, composite quotes, sessions, and the hottest and latest news.
Global Alexa Rating: 5,094
It is easy to see why this site is so popular globally – right on the first page you can select one of nine languages and the page immediately converts to your language of choice. There is a ton of useful information right on the home page. Live rates on eight currency pairs continually flash their changes giving high, low and latest. The next section includes real time forex trading news. The company presents five different tools: Forex market news, technical analysis, trading education, and latest analyst picks by two professional currency strategists. Add in the popular trading forums and you have a very comprehensive site with something for everyone – the expert trader and the beginner.
Global Alexa Rating: 17,327
For those that want to really delve into all the numbers that factor into currency trading, this site is going to do it all for you. The amount of up to the minute statistics on this site are incredible if not a tad overwhelming. Every statistic you could ever want to know can be found, although it is listed in rather small print with no graph lines making it difficult to read. This site might not be very useful to the beginner, but it is interesting to see how the countries of the world rank in terms of inflation rate, the jobless rate, GDP, population, interest rate and debt.
Global Alexa Rating: 36,082
Although currently in Beta, this is an extremely user-friendly website for those that enjoy a highly visual representation. The calendar with impact coding is much like other sites with the addition of words within the colour coding. It is easy to check past dates for information which is a nice feature. A popular feature is forex trading contests in which cash prizes are awarded. There is a unique social feature to this site which might just bump this site up in ranking before long since people enjoy bouncing ideas off one another. Additional features include a test lab, editorials, economic impact analysis, free forex education, software repository, trading account analyzer and live charts.
Global Alexa Rating: 81,252
The layout of this website is done well and has useful features right on the main page. The first three areas are forex analysis (both weekly and daily), forex trading tools, and world interest rates. Below that is a section devoted to upcoming market-moving events and another for the latest forex updates. One feature that is nice on this site is the ability to sign up for trading alerts to be sent to your email address. Another feature that is useful is a world clock banner giving you the time where you are as well as in New York, London, Tokyo, Frankfurt, Sydney and GMT. The trading tools mentioned include the various correlation tools, pivot point tools, Pip value and a position size calculator.
Global Alexa Rating: 161,435
This is a plan based system in which you can get some features as a free member or sign up for a monthly or quarterly plan for more features. The basic free plan includes trader forums, a public profile, access to special deals, news and market commentary and an email alert when new free EU signal is out. They comically call this plan the “best for lurkers” which is a great way to get a feel for the site before investing any money into it. The monthly plan is dubbed “best for trials” as it gives you a month to see if it is for you while gaining access to 5 pairs of daily analysis, SwingPro swing signals, CandlePro candlestick signals, CandlePro journal and email and SMS alerts. The quarterly plan is “best for serious traders” and does all that the monthly plan does but at a savings. In a nutshell, this plan is an online swing trading software that gives the subscriber high-probability setups. With over 12,000 daily readers, they seem to be doing pretty well.
Global Alexa Rating: 295,493
Another site that is easy to navigate with the most important information right on the main page and with pertinent tabs for getting to a host of tools and technical information. Breaking news, analysis & opinion, real time commodities and forex charts, an economic calendar, real time stock market world indices, central bank rates and live quotes on indices futures, commodities, financial futures and leading stocks are all on the main page.
Global Alexa Rating: 409,955
Their mobile alert system is great for the investor on-the-go. Receive mobile news alerts and mobile price alerts that you customize. Signing up is free which is a huge benefit. One of the best features of this website is their SpikeCharts which give you charts for any of the economic indicators which are very useful for the serious forex investor as well as those investing in stocks and bonds. It is easy to access exactly the chart you need by clicking on the economic indicators tab and then on the particular statistic you desire such as CPI, GDP, employment change, consumer confidence or retail sales.
Global Alexa Rating: 286,600
Because foreign exchange rates are ever changing, it is important to have this website for data gathering. The site lists the foreign exchange rate of all currency pairs traded. A no-frills website, the main page is simply exchange rates, predictions and volatility, summaries, visualizations, news, resources and site information. The site clearly states what sources are used for the raw data and when the last update was posted.
Global Alexa Rating: 449,914
This website has more of a blog feel than the other websites which may be preferable to some investors. On the main page there are links to two forex brokers that you can open an account with to get started in forex trading. A real time currency, index and commodities window is also on the main page. There is a weekly analysis of the most common currency pairs. For the new investor there are two areas – a trading psychology area and forex trading tutorials.
Since most of the websites have the same real-time information the choice comes down to the format used for viewing it. Investors will also find that certain sites have features that they find particularly useful for the trading they are doing. It is not uncommon for a full-time investor to have multiple computer screens with multiple websites going at once. For those just getting into forex trading, be sure to read the risk warning that is found on every website as there is a high degree of risk in this type of trading. Information gathering and learning the markets thoroughly is highly advised for improving the odds of success.