5 Websites With the Best Forex Charts

Key Takeaways

•Forexpeacearmy provide top notch reviews, strategies, education and tools. They also have a dedicated community which handles scam alerts, traders’ court, forums, beginners’ bootcamp etc.

•Bloomberg provides news of events/happenings and sports all around the world. The company behind the website also provides a trading terminal for the banks and other financial institutions.

Others have a strong educational value and as you will see, one of the forex websites is especially created to prevent you from getting scammed by fraudulent companies.

Check the following forex websites which I really think are the best in their area.

1. Forex Website: Bloomberg

Bloomberg is a great financial website. It provides round the clock information, analysis, trading news, best forex charts and financial data.

For social entertainment, it provides news of events/happenings and sports all around the world. The company behind the website also provides a trading terminal for the banks and other financial institutions.

It is an all in one stop shop. For quick access and reference, the site is further sub-divided into different tabs (Commodities, Stocks, Rates & Bonds, Currencies, Futures, Economics, Fixed Income, ETFs, and Sectors).

It is a user-friendly site that affords all users irrespective of location on the globe relevance. It covers the USA, Europe, Asia, Africa, Middle-East, and Japan.

If you want to be successful in forex trading, this is a must add to your arsenal.

SEE ALSO: A Beginner’s Guide – How To Analyze 3 Types of Forex Charts

2. Forex Website: Babypips

Babypips is another awesome website that cannot be ignored when discussing the best forex websites. As their name suggests, it is ‘The beginner’s guide to FX trading’.

The look of the website cum its simplicity is top-notch. As the name suggests, it grooms baby traders to become adult traders.

It has created a niche in the forex education because of its ability to deal with topics and discussions in simple and clear terms.

There is no assumption with the teachers and administrators of this forex website.

I am therefore tempted to rank this as the number one best forex website that every beginner in forex should start off with before moving to the other sites discussed here as the basics to profitable forex trading are well explained therein.

This is without prejudice! – www.babypips.com

3. Forex Website: Tradingview

Tradingview is a forex website that allows free membership to use their facilities. It requires a free sign-up to enable access to the full contents of their website.

It has a very rich user interface. Once could launch trading charts without having to download any application like mt4 or mt5 to the computer.

It thus makes viewing of charts on the mobile phones/ tablets easier via their URL. The charts are updated real-time.

It also has an all-time up to date economic calendar. For ease of reference, readers are enjoined to check – www.tradingview.com

4. Forex Website: Forexpeacearmy

Forexpeacearmy is a forex website where it all happens. Any information provided in this website from experience is often verifiable.

As the name depicts, they assist users of different forex products in the resolution of conflicts that may ensue between them and their service providers. They actually live up to their name.

Over the years they have been able to save tons of thousands of dollars for people by way of advice and uncovering shady attitudes of some forex service providers through their forex traders’ court.

They provide top notch reviews, strategies, education and tools. They also have a dedicated community which handles scam alerts, traders’ court, forums, beginners’ bootcamp etc.

They are acclaimed to be unbiased professionals in their dealings. No compromise in revealing the evils in the forex world.

Their source of revenue is by advertisements placed on their website and they currently have over five million visitors to their website annually.

There has so far not been any issue of compromise reported against them.

SEE ALSO: Top 7 Forex Brokers that Accept US Clients

5. Forex Website: Forexfactory

Forexfactory is all-encompassing and one of the best forex websites available today. It is accessible to everyone that has an internet connection on the pc or mobile device. It has a very user-friendly interface.

The site can either be accessed as a visitor or as a registered user. The forum section is very rich with lots of useful information and materials for forex traders ranging from expert advisors, strategies, and downloadable books.

The trade feed and live accounts tab are also very enriching to users of the site as it showcases live trades.

The forex calendar on the website can also be customized to suit one purpose e.g. last week, this week, next week, last month, this month etc.). There is also a comprehensive list of forex brokers on the site.

For more information about this website, you are enjoined to look up www.forexfactory.com

Charting Tools

Charting tools allow the forex traders to see all the movements of the currency prices, observe the changes and combine the information to perform market prediction or analysis.

The charting is therefore, an absolute necessity to carry out intelligent forex traders. Without the currencies, trading would have no difference to gambling.

Here are the things you should look out for when choosing the best forex charting tools to use:

1. Instant Access– if the charts will be based on browsers, they should give instant access without many troubles.

They should also not have extra software to install or have complicated logins. They should be readily available when you want to create several instant screenshots for journaling purposes.

2. Customizable– the chart you use for your forex trading should allow you to zoom both in and out, draw objects and even save templates among others.

It should also let you customize several program indicators and also test the available trading systems. All these features should be free, and should not come as an added paid option.

3. Easy to Use– don’t select a chart which you cannot use effectively. The charts should be intuitive and pretty. You should be able to log in and out without any issues using your online trading account.

Frequently Asked Questions (FAQ)

1. How Difficult is it to Trade Forex?

Yes, forex trading is difficult if your only aim is to make money quickly. With this mindset you will set yourself up for failure even before you start to trade.

Forex trading is also easy, if you are willing to dedicate the time and efforts into becoming a successful trader. Taking losses is part of forex trading.

2. Is Forex Good for Beginners?

Forex trading can be an exciting and lucrative activity, but it can also be tough, especially for beginners.

Newcomers underestimate the important of financial education, tend to have unrealistic expectations, and struggle to control their emotions, pushing them to act irrationally and impair their overall performance.

3. Do I Need a License to Trade Forex?

There are no laws governing who can and cannot trade in the forex markets for business purposes. You will need proper licensing, however, if you want to become a broker or market-maker.

4. How do You Read a Forex Chart?

The bottom of a vertical bar displays the lowest traded price for that period, while the top shows the highest. The vertical bar indicates the currency pair’s overall trading range.

On the left side of a bar chart is the horizontal hash, which shows the opening price.

5. Is 10 Pips a Day Good?

Some expert traders believe that it’s not possible to make ten-pip consistently in the market, while many others say it is possible.

Making ten-pip a day is a great way to accumulate wealth in the Forex market, and it is easily possible.

Final Thoughts

Using trading charts is like studying a new language. You must first understand everything in detail before you start using it.

Whether you are still a newbie forex trader or guru in the industry, seek to learn more on the specific charting you intend to use.

In these ways, you will have high chances of success in your trading analysis and using charting tools could be your way to successful trades.