Forex Factory Broker Review

If you are looking for a forex broker who intends to make the global economy fair, a broker looking to create close to ideal trading ground where every trader gets access to all available market information at the same time with the rest of the traders, then Forex Factory is the place for you. You will get your trading information every day.

The team at Forex Factory is deeply passionate about the financial markets and the interaction of innovative technological applications to make the company great at what it does.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Forex Factory is unlike most other forex brokers on the market seeing as it has the economic/ financial experience from a Wall Street and technological expertise of a leading Silicon Valley Startup. The products and the experiences of the traders are unmatched.

How old is Forex Factory, you ask? Well, this is a thirteen-year-old forex brokerage firm headquartered in Tampa Florida, and it has multiple features. It was launched in 2004 and has since been one of go-to trading sites for professional traders. Anyone looking for information on the site is unable to go through everything because of the diverse products and features offered.

With its guiding principle to build great teams that build great products, the business is one of the most successful. Forex Factory Inc. is an independent, employee-owned company that understands your needs for the best broker and trading conditions. With the right people and great products, you have the best platform for traders.

Forex Factory Inc. is registered in the US, Australia, and South Korea though there are pending trademarks for Israel, China, Japan, Singapore, Russia, Turkey, Switzerland, Ukraine, and Vietnam.

How has this company managed to stay on top of things and to trade for as long as it has? Simple answer, it offers unique features that run on advanced security systems. Forex Factory is an intelligent market that offers fast, accurate, insightful, reliable and accessible trading information to all its traders.

Features of Forex Factory

Members

A look at Forex Factory’s trading reveals a large group of members with the brightest minds. The experience, intellect, humor and the generosity of the members is the reason why FF is a great oasis for trading. Other than trading information, you get comprehensive insights on the market and market trends from the members. The members of Forex Factory are from different parts of the globe, but they put aside their differences and work towards achieving a common goal. Because of this interactive community, Alexa ranks Forex Factory as the Number 1 most viewed forex-related website. It is #3,425 most-viewed website in the world.

Anyone is free to join Forex Factory which has over 1200 active members and more than 9000 traders.

Products available

  • Forums: as mentioned above, Forex Factory has the biggest number of members who are part of FF’s trading forum. The forum is the platform that lets traders share ideas, swap war stories, learn, debate and teach. This forum is a place where professional discourse is born.
  • News: other than the forums, Forex factory introduced their News feature in July 2007. The news feature incorporates wide-open submission policies with tight controls on their editorial content. Forex Factory doesn’t employ journalists, but it depends on the news structure built to accept all stories submitted by its members. It does, however, have several editors who select the content shared on the website. The editorial team works 24/7 to bring you all breaking news in time.
  • Market: launched in 2009, the market comes with three innovative applications that include the Scanner, Chart and the Sessions. These applications are powered by Forex Factory’s Market Data Application (MDA). MDA is a sophisticated technological infrastructure built from scratch to aggregate data from multiple brokers, all in real time. As a result of combining data from multiple sources, MDA offers more accurate prices than other sites, and the price can then be used to benchmark the prices of individual brokers. As a result of all this, there is centralization of prices to an otherwise OTC market.If you are looking for freely accessible sources of currency pride, then Forex Factory has Scanner and Chart.
  • Trade Explorer: this is a web-based interface launched in 2011 to empower traders to analyze their trading performance intelligently. You can check real-time analytical capabilities and also evaluate your historical performance. This is possible thanks to the automatic synchronization with the connected brokerage account.

It has other innovative features like time zone settings, auto-synchronization, and equity/ balance controls.Trades: for a peek into all live brokerage accounts of thousands of traders on the sire, you have trades. ‘Trades’ also gives you limitless insights as well as real-world education capitalized by astute traders. It has elements like the Leaderboard, Positions and the Trade Feed Application.

The Trade Feed Application shows all real-time trades made by Forex Factory members who opt to make their data publicly viewable. There is a Leaderboard which shows the members with the highest returns in a month.

Positions application gives insights into the aggregate open positions of forex traders. The data can be analyzed by different traders. The aggregated numbers itemized and historical records presented graphically.

  • Brokers: this is the other feature/ product which offers an advanced guide to properly regulated forex brokers. This versatile interface launched in 2012 offers a unique and effective way through which traders can research brokers, combining up-to-date information, get real-time spreads and extensive details about the brokers. The listed brokers are monitored and researched daily to ensure that traders obtain the right information about the brokers.
    The ‘Spreads’ section offers rates from each broker.

Privacy

The design of Forex Factory is such that information is easily accessible as is your profile. Most of what you post is also publicly available. However, it is advisable for you to remain anonymous online by never revealing any private information to the public.

Pros

  • You can trade 24/7
  • There is a forum that offers comprehensive insights into markets and trading. The forum is an online community of people with similar interests.
  • The Live Accounts/ Positions make it easy for you to understand what is happening in the market in real time.
  • The Trades, Brokers, Positions and the Trade Explorer applications make it easy to understand the market.

Cons

  • There is no app to trade with on your mobile device.
  • Displays trading in English only

Conclusion

Forex Factory offers an opportunity for traders to share their insights on the market in a transparent manner. You can also show your biggest earnings on the dashboard, and you can watch trading in different parts of the world such as Tokyo, Sydney, New York, and London. The forex broker activity gives you real-time spreads, broker guide updates and liquidity averages. So, if you are looking for a forex broker with more than currency rates, a broker who makes you part of a community, this is it.

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