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Recommended Online Forex Trading Resources

Forex market is a type of financial trading wherein you can trade by selling or buying currencies as you do with commodities or stocks. Foreign exchange or Forex trading is a market that deals in a huge amount of money on a daily basis to the tune of more than $5 trillion. To achieve the high profits that this market can bring you need to have the right resources at your disposal. When you are armed with the right tools, forex will not look daunting and you will find the trading easy to understand as well.

About Forex

Forex, derived from Foreign Exchange, is a trading done on currency pairs. The exchange rate is denoted as one currency’s value in relationship to another. One of the currencies in the pair is a base currency and the other is called as terms currency or counter currency. In every transaction the base currency is the one that is sold or bought. Since the forex market involves trading with a great deal of money, it is a big and liquid market that most traders favor. It also functions 24 hours a day, making it easy for traders.

Trading Resources

Trading resources enable you to learn and understand the basics of forex trading methods better.  These will also equip you with the needed details. Here are some of the key resources.

  • News and technical analysis: The forex news at main forex sites give out real time and current news on the forex market and help you out with the analysis. You can trade better with the economic calendar present.
  • Webinars and educational portals: These live online sites help you gain an edge in your forex trading. The portals have potent educational courses and tools that traders find useful. From the video lessons that are done on demand to the trading signals, much useful guidance is given.
  • Other resources: Charts, market analysis, currency converter, and trading signals are other resources that help in assessing the forex information and arriving at actionable strategies.

Recommended Forex Posts:

  • How to Position Trade the Forex Market – Long-Term Strategies Explained
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  • Do Forex Traders Really Make Money?
  • Cryptocurrency Versus Forex: The Difference in Trade, Volatility, and Profit
  • The Macro and the Micro in Forex Trading

Best Forex Resources Online

Blog and news sites: A Forex Loser, Currency Secrets, and DailyFX are leading blog and news sites for forex traders that offer tips, reviews, trading perspectives, economic calendar, and trading lessons.

Charts: Sites like Free Forex Charts, Forex Market, and Live Currency chart offer some of the best choices in charts and split by type, view, time scale, and other details.

Currency converters: Currencies are quite overwhelming to deal with and normally need more expertise. Some of the sites that help you out in this aspect are ADVFN Forex Symbol Table, Exchange Rate, and Go Currency.

iForex Traderbase is a constantly updated forex site that has all information on news, commentary, and daily forex analysis and also provides various other significant tools for its visitors. It is a very vital forex source that is of great significance to both the expert traders and beginners. Arriving at an informed and wise decision is easier with the comprehensive information provided here.

While forex may look overwhelming and full of risk at the outset, when you have the right tools and resources at hand, it can be a great investment as it gives and offers you great returns.

Exclusive Bonus: Before investing in forex check out our report on 70+ forex brokers. Find out which brokers you need to avoid. Receive our exclusive report for free today.


Recommended Forex Broker:
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Learn to trade smarter! Includes personal training!

 

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Recommended Online Forex Trading Resources

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November 26, 2014 by Jeremy Biberdorf 2 Comments

Filed Under: All Recent Currencies News, All Recent Investing News Tagged With: forex

About the Author: Jeremy Biberdorf

Jeremy Biberdorf is the founder of Modest Money. After working many years in the website marketing industry, he decided to take on blogging full time and also get his finances headed in the right direction. Also check out his contributions to Equities.com and Benzinga.

Connect With Jeremy Biberdorf : FbtweetLinked


Comments

  1. mohammad Maidul says

    January 9, 2015 at 4:46 am

    Currencies are quite overwhelming to deal with and normally need more expertise. Some of the sites that help you out in this aspect are ADVFN Forex Symbol Table, Exchange Rate, and Go Currency.

    Reply
  2. Dora Bacon says

    April 15, 2015 at 9:54 pm

    Forex trading a something every trader must be aware. With respect to this there’s lot of resources information available online. Beginner can switch to Investopedia. There’s lot of information present in there.

    Reply

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