Trading on the foreign exchange, or Forex market, is becoming increasingly popular with retail traders. This is because it is now much easier for individuals to operate in the world of Forex.
In the past only individuals with a considerable fortune could trade on the Forex market. This has changed now though, as Forex brokers have offered their services so that people can commit smaller amounts of money to market speculation. This means that the average person can chance their arm and attempt to turn a profit, based on changes in the value of foreign currencies.
Retail traders represent a growing segment of the Forex sphere, and because many of these people are relatively new to the game, it is important for them to learn quickly.
This has led to an increased amount of information being made available on the subject. There are many media offering information, advice and Forex news to new and experienced traders, and to be successful knowing the latest is essential in Forex trading.
Here are a few ways that you can find out the latest Forex news:
Despite the mass migration to the online world that has occurred in recent years, it is still possible to learn things from a good old fashioned newspaper. Organs such as the Financial Times survive because they provide important facts and figures on a daily basis, which you can read regardless of a good internet signal or the speed of your connection. Newspapers are handy, portable and don’t need charging; and they are relied on by many for the latest Forex news, which is clear and concise in papers like the FT.
Word of mouth
Although of course you should only take things you hear by word of mouth as a starting point for your own research, it can be valuable to listen to what people around you are saying. Provided they have an idea what they are talking about of course. If you know people who pay close attention to world finance and foreign currencies in particular, you could learn something that might inform your next trading decision. If you know any market experts then that is even better, but remember that in the world of Forex there are no guarantees.
Use social media
Social media is a great way to stay on top of the latest Forex news, and news in general. Because social media platforms like Twitter and Facebook transmit information immediately, they can benefit you more than watching the news. In fact the news often takes its top stories from Twitter and other social media. There are numerous experts with their own social media accounts and you can follow them for advice and information which could prove invaluable.
Online Forex news sites
Because the number of retail Forex traders continues to increase, so do the number of dedicated online news websites. Take a look at Forex Pros, DailyFX and LiveCharts for example. These sites offer news, research resources, charts and graphs, projections and even videos containing masses of information.
Because brokers want to attract traders to trade in Forex via their platforms, they try and make this seemingly complex world a lot clearer with information and news. Broker websites offer advice for fledgling traders and those with years of experience, plus access to the latest figures and rates.
As well as news sites, papers, social media and more, Forex traders can use specially designed research tools, such as Alpari Squawk. This tool, developed by the broker Alpari, offers live audio commentary of the market and information about all the major asset classes.