Information is power, and this statement is very true in the Forex industry where information literally changes the markets. One area you might want to be kept abreast of has to do with Forex brokers – which ones are good, bad, fraudulent; basically all you need to choose a reliable Forex broker. For this, you will need a reliable source with real active traders who have experience with the brokers, and here are the top 10 we ourselves rely upon:
MyFxBook
Also quite popular, this website also has a variety of useful information about Forex trading, including the Forex brokers themselves. The most unique aspect of MyFxBook is the forums section, where many traders contribute their personal opinions. This can be a great resource, although you should always confirm the source of the information. After all, you can’t trust everyone’s opinion.
Babypips
This website is best known for offering Forex trading training for all levels of experience, I taught myself by graduating through the various levels. If you are completely new to Forex trading or would like to sharpen your skills, this is definitely the website to visit. In addition, they also run a forum for discussions, but the training bit remains to be their standout offering.
Investopedia
You have probably landed on an Investopedia page at some point in your trading career, and that’s because they are literally an encyclopaedia on Forex, just like the name suggests. They have other services, too, including a section on analysis of market trends and even trading signals, but we consider Investopedia as the Wikipedia of everything finance.
Daily FX
This is another mixed-bag kind of website, with a variety of content on the Forex industry. The crucial part of the website, though, is the currency pair analyses, which are done regularly, just as the name suggests. On the website, you will always find several experts analyse various currency pairs, giving you trading tips for the day, every day. Since the website is owned by FXCM, the broker, you can believe the experts’ opinions.
Forex Factory
You may recognize Forex Factory from their economic calendar, but if you take a look around the website, you will find they have plenty more. For one, it has one of the largest Forex forums worldwide, which means you get plenty of responses from the members. Once you join, you can join one of the existing forums or create one of your own and request information about any subject on your mind.
FX Street
It is similar to Daily FX in their structure in that they have several experts who provide regular updates about the various currency pairs, giving you tips on how to trade. They also offer Forex training through webinars and downloadable documents, a Forex calendar and broker reviews based on the experts’ opinion. You will find independent opinions in the comments sections if you want to see what other people are saying.
TopBrokers.com
This website is very active on social media and is always kept up-to-date with general information about the Forex industry. You can find the website by clicking on the link above so that you can see what we’re talking about. There are articles published regularly about various Forex tips and trading strategies, but we particularly like their Forex broker reviews.
There, you will be able to easily and efficiently sort the Forex brokers based on their services when you need to locate one particular broker to trade with. All these features make for an all-rounded website providing information about the brokers and the knowledge to keep you trading successfully.
Forex Live
Here, you will find regular updates about the Forex market published by various experts, and their analysis will be released very often throughout the day. This is where this website shines the most, the analysis and predictions about market movements, but they also have a pretty decent section for Forex brokers. There, you will find the top Forex brokers picked by the experts and select one whom you feel is right for you. They also notify you about any special offers by the brokers so that you can get great deals.
Unfortunately, I didn’t find a Forums section, which I like to peruse in order to find out if there are others who share my opinions. It may seem petty to think like that, but in this industry you need to know if you’re flowing with or against the tide.
EarnForex
I like EarnForex because they welcome different ideas, and don’t stick to just the same experts. This is not to say that experts don’t know their stuff, but it’s refreshing to hear from a different perspective, which is what this website provides. There is also a Forex brokers’ section where brokers are ranked according to their standout features, helping you choose one more easily. Finally, head to the blogs section and ask whatever is on your mind as you learn from fellow traders around the world.
PipSpread
PipSpread also allows for contributions from different authors, and you will find information about various Forex-related topics from that. Then, to help you pick a Forex broker, the top Forex brokers are reviewed by the website’s staff and ranked, allowing for contributions and responses in the forums section. It is very important to have this because it keeps any expert’s favouritism to cloud the truth.
