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Top 5 Forex News Website for Fundamental Analysis | Forex Factory Alternative - YouTube
Channel: Forex Monopoly
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There are plenty of websites out there that
help you stay up to date with the economic
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news events everyday.
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But are all websites worth trusting?
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I don't think so.
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I have been trading forex for 8 years now
and trust me when I say this.
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I have used every other news reading websites
out there, and I have found a major problem
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with most of the websites.
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Many are not reliable.
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Once I was trading on Gold and for me Fundamental
Analysis plays an important role in it.
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So, I usually set the impact of the news to
high and neglect the medium and low impact
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news.
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As high impact news is what matters for me.
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So I did the same on that website which I
was using and I started trading.
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As there was no news scheduled on USD that
day, I started day trading care free and while
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I was doing that the price skyrocketed impulsively
as it does during an news event and I was
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stock out by the price.
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I was shocked to see such a price movement
and I started finding the reason behind it.
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So, I went to another website and found that
there was high impact news scheduled on USD
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which wasn't visible on the website I was
using.
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I was very upset with that and I feel you
can not afford to do this in trading.
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Our hard earned money is at stake and we shouldn't
take it so lightly.
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In trading, every single penny, every single
trade matters and it needs to be valued and
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certain websites like this can make you lose
your money.
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So, I researched all the major websites that
provide you with economic calendars and laid
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out 5 Top reliable websites for news reading.
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Hey guys, welcome to Forex Monopoly, my name
is Daksh and in this video, I'll tell you
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about the "Top 5 Websites for Fundamental
Analysis"
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and at the end I'll tell you which one is
my personal favorite.
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So make sure you watch this video till the
end.
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At number 5, we have Daily FX.
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Daily FX is a decent website for fundamental
analysis and they also have a lot of tools
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for forex trading, for the beginner traders.
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They have two different types of calendars:
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The regular economic calendar and the central
bank calendar.
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As the news events from the central bank meetings
are the most important once, they decided
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to create a separate section for such news
and it does help a lot to keep track of those
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news.
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The economic calendar provided by Daily FX
is nice and simple, easily customizable.
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You can set the priority of the news, the
currency pairs and also the types of news
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as per your needs.
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One of the things I like about the Daily FX
is that you can directly add the news event
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to your calendar and also set alerts which
are really very very helpful.
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They also have smart phone app for both IOS
and Android which can be really very beneficial
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for you when you don't have your laptop with
you.
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At number.
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4, we have Myfxbook.
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Myfxbook has become a go to website for all
the new forex traders and it is due to the
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variety of tools and educational things they
offer.
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Myfxbook offers you a community of like minded
traders from whom you can copy trades and
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also create and manage your own portfolio.
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Due to this, a lot of traders started using
the economic calendar from Myfxbook itself.
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After all why go to different places when
you have everything under one roof
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and just like every economic calendar, you
can customize the economic calendar on Myfxbook
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as per your needs.
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You can also set an alert on the website and
you can also set the time when you wanna be
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notified.
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They also have an app for both IOS and Android
and you can get alerts directly on your smart
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phone via the the app.
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The third one is Investing.com
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An Investing.com is truly a heaven for investors
and traders and provides an easy to use economic
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calendar and lots of blog from some of the
top trading experts.
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Even here you have the same economic calendar
as the first two provided and you can customize
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and add alerts over here too.
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Here, the news is more reliable than Myfxbook
and Daily FX.
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Just like the first two, Investing.com also
has an app on the app store and play store.
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The second one is FXSTREET.
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There is a reason, a solid reason why I am
keeping FXSTREET at number 2.
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FXSTREET is leading source for all the reliable
news and real time forex analysis.
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FXSTREET offers real time exchange rates,
charts and an economic calendar which is very
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very simple and fast.
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Being a forex dedicated website, it has a
lot to offer for the traders and provides
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easy and reliable economic date.
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In the economic calendar section here you
get three different types of option.
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The first one is the normal economic calendar
like every other website provides.
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The next section is of interest rates where
you get detailed interest rate related news
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and content
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and the third is of the market hours where
you can see the timings of different types
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of sessions.
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By the way, I have added a video on different
kind of sessions and which pairs you should
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trade during each trading session.
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So make sure you check it out by clicking
the i button.
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Now, on FXSTREET you can add the news to your
personal calendar directly and can also set
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a notification.
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And it is also available on IOS and Android.
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Now, let's take a look at what we have at
number 1.
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At number 1, we have Forexfactory.com
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Forexfactory is my personal favorite website
for reading economic calendar and the reason
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for that is nothing but the reliability.
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Yes.
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The Forexfactory does not have features like
it's other competitors have.
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Here you cannot set alerts and you also do
not have a different section for central bank
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news.
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But it is one of the most most reliable website
for reading news as during a news release
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Forexfactory first compares the news from
10 different sources and then shows it on
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their website to make it very reliable.
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Forexfactory has a very simple and user-friendly
interface and news is quite easy to read.
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They also provide top articles just below
the economic calendar section and these articles
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keep on hanging with every other news release
and hence help you to be up to date with the
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global news events.
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Now.
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unfortunately there are no app available for
the Forexfactory and you have to use it on
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an internet browser only.
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Now, I have already added a video on how to
read news using the Forexfactory calendar.
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So make sure you check it out by clicking
the i button.
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