For those who have traded on the forex market, you have probably heard of Forex Factory - a place that not only serves single individuals but is also the playground of many exchanges. This is really a huge library of information that any trader in forex, stocks, and crypto should not ignore.

Then what exactly is Forex Factory? A site that is an all-powerful location like rumors or just a place that updates news daily? This post will explain an overview of the features of this platform and demonstrate the outstanding features, which many investors use to optimize their investment strategy.

What Is Forex Factory?

Forex Factory is a website that offers quick, accurate, and totally free information about the economy and events that have both large and small impacts on the financial industry. This news not only affects the price's opening position but also causes slippage of currency pairs in the world.

In order to grasp interest rates and important trends, a competent investor must be knowledgeable in both technical analysis and the most recent market trends. In addition to the information section, Forex Factory now has 6 more product categories to create an investment and build a trading community. This enables traders to make plans and onduct transactions directly on the site.

Overview Forex Factory Main Features

Designed for both newbie and professional traders entering the forex market, Forex Factory has a mission to connect the community, helping all traders gain more knowledge, ideas and, importantly, deep market insight to improve trading results.

Forex Factory with the vision is completely focused on managing forex market information for traders to be a pure and insightful resource. With valuable, easily accessible and real-time information, Forex Factory has all 7 products in total to serve that purpose:

1. Forums: A corner to share fundamental analysis, technical analysis and more from members (All discussions are in English).

2. Trades: List of signals and masters from various exchanges for reference or copy trading

3. Calendar: Information about the happenings of economic events whose importance is clearly classified

4. News: Synthesize articles and reports from reputable financial websites

5. Markets: Allows users to monitor graphs, long/short ratios in currency pairs and many other market statistics

6. Brokers: A comprehensive list of exchanges around the world and links for you to contact and register as quickly as possible. Some of them have a promotion of partner policy.

7. Trade Explorer: Not on the main menu bar, you need to find this in the Profile section while member registering. This is a feature that creates an online transaction diary to help traders track and manage their investments.

After having a brief understanding of what Forex Factory is, the following are the most basic features that are most used by traders when visiting this website.

Make Your Own Economic Schedule With Forex Factory Calendar

If you want to be a professional trader, updating economic information on Forex Factory should be considered a mandatory daily habit. The most convenient tip for investors is to check the information at the beginning of the week, take notes and set alarms on the days with important news, then check back at the opening hours of the US session.

Whether you are a trader who trusts the charts most or relies on news to predict price lines, it is important to stay informed. One of the many positive aspects of Forex Factory is the way it categorizes the significance and impact of news. 

In the economic calendar for the week, you will see 3 different sorts of news:

• Red news: important, influential and highly interested news

• Orange news: news about statements, interest rates from the Fed, have a certain effect on currency pairs

• Yellow news: reports, real estate news, housing indexes, have a partial or indirect impact on the market

Depending on the depth you want to research, you can choose to read only red, red/orange news or all 3 of these news and events.

Manage Trading Activity With Trade Explorer

To create and keep track of deals, there are several tools available like Myfxbook. However, the strength of Trade Explorer is the intelligent system that automatically displays as soon as you enter the order. As a result, traders do not need to use excel files and run complex functions themselves.

This not only helps investors track orders easily, weekly/monthly results statistics fast, but also makes an important contribution to capital management. The updated information at Forex Factory is full including entry and close points, where you set your Stop Loss, choose your trading currency pairs, etc. for convenient analysis of results.

Read Important News On Forex Factory News

Similar to Calendar, but instead of economic events, you can read news including reports, event summaries in the News section. If every morning the traders' reading of newspapers revolves around Bloomberg, CNN, Reuters, New York Times, ... then this is the place to synthesize all the outstanding news from well-known newspapers.

When accessing this section, you can optionally sort by latest, hottest, most viewed, last commented, most commented through news categories:

• Breaking News: Breaking News

• Fundamental Analysis: Market commentary, fundamental analysis

• Entertainment News: News about entertainment, product launches of large enterprises

• Forex Industry News: Specialized information for the forex market

• Educational News: Educational information, knowledge, experience

News related to FED interest rates or around the president's statements often affects the market quite a lot, so pay close attention when you see such news.

>> The influence of news in Forex has been detailed in the article: FXCE: Blog | The impact of Forex news on trading 

Find A Reliable Supplier With Forex Factory Broker

Even better, Forex Factory gives users the option to find top-notch Forex brokers. This particular tool is effectively a search engine that contains a database of brokers; this database can be filtered down using a variety of characteristics that will help you determine the type of broker you want to deal with.

To use this tool, select the “Brokers” tab at the home page’s top right. Once you select this, you will see a database list of active brokers on your screen. This chart will let you compare their relevant stats at a glance; you can also filter out results based on factors such as language, minimum deposit, how many countries they are regulated in, their real-time spread, and so on.

It should be emphasized that brokers do pay a fee to appear on the Forex Factory site. However, this does not mean that the site is inherently biased or that you can’t trust the results. As a general rule, trust your instinct regarding the information presented in the broker charts and make sure you check closely at their trades’ statistical facts above everything else.

Besides Brokers from Forex Factory, FXCE has also suggested to you a list of other reputable exchanges. Review right here.

Conclusion

Through all above information and overview of the outstanding features from Forex Factory, we hope you have an overview of the platform. There are many good points from here that you can exploit to make your trading and investment process more convenient. So, if you have not experienced it, register as a member to continue to discover other benefits from this prestigious website.

On the way to accumulate the knowledge, FXCE always accompanies you to provide interesting articles, services, and contests to the community:

• Copy trade or become a signal provider: www.fxce.com  

• Join FXCE community about Social Trading Platform: https://t.me/fxceSTP    

• For more information and visualization: FXCE Official - YouTube