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Forex Factory Review: An In-depth Review of the Features, Fees, and Returns

Forex Factory is an online foreign exchangetrading platformthat connects traders andbrokers.The brand also offers a lucid interface with lots of unique features for news-based trading. The platform is highly social and it connects its users through a private members forum where you can share your ideas and trades.Forex Factory features simple spread-charting with data sourced from multiple brokers all over the world. It offers trading in all major currency combinations.

Forex Factory is a part of Fair Economy which helms over other brands like Crypto Craft, Energy EXCH, and Metals Mine. The account login is universal and you can enjoy these brands with a single registration at Forex Factory.Read on to know more about the features and trading experiences on this Forex Factory Review.

Forex Factory scores sky high in trust as it only partners withfully regulated brokers. The website may look old-school but is secured by state-of-the-art encryption technology. All your personal information is safely secured by a strong Privacy Policy.

Forex Factory is backed by a solid reputation of more than 10 years.The company was launched in 2004 in San Diego as a market news platform.It later added a social angle through its forums and became a widely popular fintech provider. Today, many notable brokers are partnered with Forex Factory.

Forex Factory is quite backdated in its looks and feels. It is best suited for desktop use with little scope for technical analysis.There is no dedicated mobile app but users can open the website on any mobile browser. The layout is quite the same and it can be painful to browse through the data on a small screen.Luckily, all partner brokers of Forex Factory have mobile apps that help you trade more efficiently. The Forex Factory Forum is extremely lucid and can be used seamlessly on any web browser.

Forex Factory News: The Forex Factory is designed to attract a specific niche of forex traders. It is one of the best onlineforex platformsfor news-based trading as information quality and presentation are the two primary fortes of the brand. A daily update of all global news is neatly presented along with a scanner that shows the impacted forex pairs.

Forex Factory Forums:The ability to connect with other online members is a great way to maximizecollective learningwhich can help new and expert traders alike. The Forex Calendar is also a great tool when it comes to finding meaningful opportunities in the market. You can see the total number of online users, make friends, and gain popularity by publishing helpful posts. There are many High Impact members who are widely followed on this forum.

Forex Factory Scanner:The Scanner is a newly added feature which gives users a birds eye view of the top movements in the market. You can check out the bid spread, the pip spread, % change, high-low, and charts at a single glace. The time frames available are 1 minute, 5-minute, 1 hour, 4-hour, 1 day, and 1 month. The Scanner feature makes up for the lack of a mobile app as it opens up easily on any mobile browser.

Trade Explorer:A web-based interface that allows traders to monitor their trading activity. The Explorer maps all your trades and forms insightful graphs out of them. It uses advanced graphing technologies, auto-synchronizing, and equity/balance controls to manage risks and learn from past mistakes. It also helps traders understand their trading style and understand what works for them.

Forex Factory connects you with a number of world wide brokers who offer different base currencies, leverage ratios, minimum deposit limits, trading conditions, and spreads.All brokers on the Forex Factory are regulated by various government institutions like AISC, FCA, CySEC,BaFin, DFSA, JFSA, MAS, FINMA, andIIROC.The leverage offered by these brokers has a wide range of 30-1000x.

Here is a list of all the current brokers in Forex Factory

As there is no opening-closing time for forex trades, users can view different time zones on specific charts.Even though the charts are continuous, there is a side bar that divides different trading sessions based on four time zones; Sydney, Tokyo, London, and New York.The charts also carry a time-graph of Breaking News Impacts and Calendar Events that are helpful to judge the impact of global news on forex markets.

However, Forex Factory is a complete no-go for traders who usetechnical analysisas their edge. There are no visible technical indicators that can be used on the charting patterns. This automatically filters out a number of traders who base their traders on technical aspects.Users can use technical analysis on the partner brokers of Forex Factory.

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

7 Binary Optionsreview: Forex Factory: 4 stars

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