Forex Factory is one of the biggest interaction sites for foreign exchange traders in the world. The onset of online trading for many years diluted the sense of community of traders.
The earlier years before online trading became widespread and accepted many traders would trade from the trading floors and from their desks at prop firms. This gave them a persona of a secret community of the people who knew the secrets of the world, especially the traders who specialized with foreign exchange trading.
Forex Factory com Review
When forex, as it is popularly known, was opened up to the public via brokerage firms, it created the largest and most liquid financial market on earth.
There was a need for traders who were especially retail or discretionary traders to feel as though they were part of a community and Forex Factory came through and created a platform that was specifically meant for forex traders across the world.
This website was meant to be a platform for traders to get quality news and information that would help them make proper and informed trading decisions.
They went even further and created the Forex Factory forum where traders share their trading ideas on various currency pairs and other assets like indices and commodities like gold which have popular forums.
Forex Factory was established back in 2004 for information purposes only, to this day the website is the number one viewed foreign exchange website in the world, and number 2,825 most viewed website in the world according to a rating agency called Alexa.
One of the advantages of Forex Factory is that they have the member at heart and they understand their demographic, and that is why they have an adjustable time zone feature that allows each member to access the economic news releases as per their time zone.
This makes trading quite easy especially for the fundamentally based traders who utilize the news to make their trading decisions.
They also have this ranking system that helps ranking members as per their opinions on the foreign exchange market. This context-based ranking helps other members find those skilled traders and forums that share what relates top their trading styles.
Forex Factory Locations
Forex Factory has its headquarters in Tampa, Florida in the United States. They have sought to trademarks to the name Forex Factory in several countries in the world so that other people who may want to use it to advance their sites viewership can be held accountable as criminals.
The trademark is pending approval in Australia, China, Turkey, Switzerland, China, Vietnam, Russia, Ukraine, European Union, Israel, Japan, and Singapore.
All the above countries have a massive number of retail traders, and that is why they have a need to have their trademark approved in those countries and most of their members are from those countries as well, so it is not a big surprise.
Forex Factory is an independent organization, and they do not have any affiliations with any brokerage firm. All the brokers listed on the site pay a fee to be listed, and all the banners on their website are only meant for advertising, and they are also paid for by the ad holder.
Those are the two ways they make their money, but they do not do that by charging their members anything. This goes to show that websites can use the sheer number of views to create revenue without having to impose a charge on their viewers.
Forex Factory Products
Forex Factory has a number of products that are symbiotic in nature; that is, they rely on each other to foster a complete system that works.
Forex Factory Forums is the best forum section in the world especially on material that relates to the foreign exchange markets. The Forex Factory Forum is divided in such a way that all relevant topics that are related to trading have been covered.
The following are some of those sections; they are nine sections that are further magnified by the different topics under them. Interactive trading, trading systems, commercial content, rookie talk, trading journals, trading discussions, trading systems, platform technology, broker discussions, and commodities and stocks.
These are the major forums, and under each forum, there are threads that discuss different issues on those forums.
The Forex Factory Forum page is divided well for easier navigation; it has the hottest thread section, the last replied thread section, latest thread section, latest replied thread section. This makes it easier for a member to carry on from where they had last left to the thread discussion.
Forex Factory Trades Section
Forex Factory also has the following product; the trades section. This section of the website covers all trades opened by traders who have linked their trading accounts with a feature called Trade Explorer.
This helps the traders keep track of their trades and their performance on a daily basis. This is an important feature, and for many traders, one of the most features because it helps you journal all your trades taken and it creates your performance track using a graph and bar charts as per your specified settings.
The page also has a list of the top ten best performing traders and traders who have open positions and the performance of all those trades is listed real time. This Trade Explorer feature works both for real and demo accounts, and you can link as many trading accounts as you want. Most members use it for this very reason.
Forex Factory: News & Economic Calendar
Forex Factory has two products that are closely linked together, the news and calendar. The news section is one of the very best in the internet space.
They share real-time news from all over the world that is related to the markets. This website is always improving their news delivery because they know how important it is for a trader to stay updated and in the know to better their edge with each opportunity that arises.
The calendar section covers all economic news releases in the world; they are categorized in such a way that you will know which news is important and the news you should overlook. They are categorized as from low impact to medium impact to high impact, that way you cannot confuse either.
They also have the market product that is a charting platform for the member to follow on the market moves real time, and the last product is brokers guide. It covers the brokers recommended and some extra information about them.