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  • by Smriti Mathur
  • Oct 04, 2022
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Introducing, the forex factory. You will be assisted about every term related to the forex factory here. Let us start with some basic meanings and an overview of the term' forex factory.

For experienced traders who participate in the foreign exchange markets, there is Forex Factory. Its goal is to link traders to the markets and to one another in a way that improves the outcomes of their trading. Every trader should leave each visit with new insights, expanded knowledge, and improved market awareness.

In addition to assisting traders, Forex Factory is committed to guarding against everything that misleads, trick, or otherwise disadvantages traders. At Forex Factory, spotting fake from real is a top focus. 

The goal of FX Factory is to become the world's most unbiased and knowledgeable source for forex trading. The most important information will be shared on these pages at the same time and will be available to all traders, regardless of their location, citizenship, or financial situation.

Fair Economy, Inc., a business committed to the democratisation of financial information, owns and runs Forex Factory. Study up on Forex Factory.


Professional traders can connect to the forex markets and to one another through Forex Factory. The sole goal of Forex Factory is to gather information about the foreign exchange market for traders. This information's primary format is real-time (i.e., what's happening right now), and its breadth includes everything from economic statistics to member analysis. The Mission page of the Forex Factory website has more information about the principles that guide it. 

Trade Explorer, Forums, Trades, News, Calendar, Market, and Brokers are among the seven products offered by Forex Factory. Each of these items has a link in the page header, with the exception of the Trade Explorer, which is found on your member profile (once created).

In the end, Forex Factory offers much more than just a place to share or discover new trading techniques. By keeping you informed of all the pertinent information, assisting you in choosing the best Forex trader, and many other beneficial features that we will go into detail about, if used properly, this platform may help you stay ahead of the competition. 

Continue reading to find out how you can utilise the Forex Factory to advance in the trading market and learn more about this amazing platform.


How do I start trading forex and how to open a forex factory account?

Everyone is aware of the numerous chances that trading the forex markets can present to those with a laptop and an internet connection. Nevertheless, even though it is open to everyone, breaking into this $5.3 trillion-a-day industry can be incredibly intimidating.

So, if you've been thinking of investing in the forex markets but are unsure of how or where to begin, don't worry! To help you get ready to enter the world of online trading, we've created a 5-step checklist.


  1. Examine forex

Education is important, as it is in most aspects of life. Nobody should enter the foreign exchange markets without first conducting in-depth research on everything from what forex trading is to how to evaluate charts, apply indicators, and adhere to fundamentals. Free, well-organized, and simple-to-follow forex courses and tests can be found all over the internet, taking you from novice to expert without putting any of your own money at risk. You can also look for other forex traders and mimic their strategies if their trading methods and instruments fit your preferences. Start off easy and increase the difficulty levels at a speed that feels natural to you. Lastly, and most importantly, never stop learning!


  1. Keep your trading expectations in check.

While some people might wish to try out the FX markets to see what they're like, the majority of them do so with the intention of generating money - quickly! Being aware of what you're going into is the most important step you can take to make sure you are positioning yourself for success. While you can profit from FX trading while lounging on your couch, it doesn't mean it is simple. It also demands effort and commitment, just like any other job or business venture. Therefore, don't let the inevitable steep learning curve deter you. Knowing that everyone experiences it puts you one step ahead of your peers!


  1. Open a free demo account.

The greatest approach to learn about the markets is using forex sample accounts. Without putting any collateral at risk, you can see how current market conditions and movements affect your fictitious trades. In essence, they serve as a kind of flight simulator for new traders. They are actually a great opportunity to test out a new FX trading strategy before investing real money in it as you advance and get better. And they are unpaid! If you remember nothing else from this essay, make sure to rinse your demo account for all it's worth before you risk even a single dollar!


  1. Select a trading tool.

It's generally ideal to concentrate on one instrument first. It might be an index, energy, a metal, or a pair of currencies. Learn how it moves and the influences that affect it. By doing this, you may simplify the markets and become familiar with both the technical and fundamental aspects of foreign exchange trading without becoming overwhelmed by the sheer number of variables. You can increase the number of instruments, charts, and risks as you improve. You'll be prepared to manage it, too!


  1. Spend money you're willing to take a chance on.

FX trading is just like any other regular business or investment activity, as we've already explained. Both opportunities and risks are present. Therefore, you should never invest money that you cannot afford to lose in the forex markets. And yes, even after you've tested and improved your trading approach on a demo account, this still holds true! There is never a guarantee in the markets since they are unpredictable. 

So, setting aside a certain sum of money that you are willing to lose is crucial to the course of your FX trading career. It's also a fantastic technique to exercise restraint and control.The most important thing to keep in mind is that, as with everything new, you will make mistakes and fall, just like so many traders before you have. That's fine too! You can ensure that you are as ready as possible for anything the forex markets may throw at you by following these 5 simple steps!


How to open an account?


If u want to open an account for forex trading purposes then please go to a reliable site that you can trust or companies that are starting their very first stats. It is easy to open one. You just need a little documentary and by adding all the required information, you will be able to get one opened.


In-depth about forex factory

A well-known forum, website, and community relating to forex is represented by Forex Factory. On this website, users may read reviews, trading projections, a fantastic forex calendar, and exchange trading insights with other traders. 

You might find that you need a location to obtain guidance and speak with another trader if you're just starting out in your Forex trading profession or have some experience under your belt. Consider it a centre for Forex traders. a location where people can meet, talk, and share information about the complexities of forex trading.


That is just what Forex Factory provides, plus more. As you can see, Forex Factory is really more of a community. 

In the age of pervasive social media that connects us all, this makes perfect sense.

But Forex Factory also has a purpose. It aims to dispel myths about the market and create a strong and vibrant community among dealers. Traders who act hastily due to incomplete or erroneous information risk losing a lot of money in the long run.


Through community, education, and a rich data feed that keeps you abreast of the market, Forex Factory helps traders avoid this. Due to the fact that it is an international platform, traders from all over the world assemble there to share knowledge and make sure that everyone is following the same script.

No one is ever taught how to trade foreign exchange, and Forex Factory is committed to helping novice traders enter the market with a basic understanding of what they're doing.

No one is ever taught how to trade foreign exchange, and Forex Factory is committed to helping novice traders enter the market with a basic understanding of what they're doing.


If you're a trader who is more advanced than that, Forex Factory provides even more benefits for you. This is due to the fact that you will interact with traders who are much more experienced and have likely made a lot more money than you.

You have probably heard of the company Forex Factory if you have been involved in the world of financial trading since 2004. Since 2004, Forex Factory has been the top forum for forex traders. It has evolved into the primary trading centre. 

But did you know that the majority of people don't fully utilise all of the advantages that Forex Factory has to offer? The majority of people immediately visit the well-liked Trading Methods thread to look for new trading systems, test them out until their most recent endeavour fails, then immediately return there and try again. This is a never-ending loop that wastes time overall and offers no meaningful financial advantages. On Forex Factory, however, there is something traders can do to increase their odds of success—as long as they know where to look and how to utilise it.


Key tips to use forex factory calendar:

 Let's study how to take advantage of the Forex Factory calendar if you want to understand how to read Forex Factory news.


1. Choose a time zone.

This is how you do it:

  • the webpage of Forex Factory
  • On the page's top right-hand side, click the "Time" button.
  • Choose the time zone you're in next. That's all, then!


2. Filter your news.

Every day, a tonne of news from many nations is released. comparable to CPI, PPI, retail sales, inflation, the central bank, etc.

Since they are not a significant news event, the majority of it has little impact on the markets.

How do you decide which news story to focus on and which to ignore?

Knowing which news to pay attention to and which to disregard is essential for understanding how to read Forex Factory news.


The Forex Factory news filter is useful in this situation.


This is how you do it:

  • On the page's top, click the "Calendar" tab.
  • then click the "Filter" icon in the page's top right corner.
  • Check the orange and red boxes next. This means that only news events with high and medium impacts will be shown on the calendar (if you want to include the low impact event, feel free to do so).


Then, since you don't know which events will have a high impact, examine all the event kinds. It's therefore safer to simply check them all. Finally, you can choose the nation whose news you want. So that you are aware of the crucial fundamentals occurring worldwide, I advise checking them all.


3. Never miss any breaking news that could "break" your industry.

Donald Trump has the power to send your earnings back into the negative with just one tweet.

To lessen your risk exposure, you'll want to at least be informed of such news when it happens.


This is how you do it:

  • At the top of the website, click the "News" tab.
  • Then click "News / Hottest Stories" on the page's right side.
  • Next, look under "Latest" and "Breaking New."


Therefore, only the most crucial news will be displayed on the right side of the page.

That, my friend, is how to read news from the Forex Factory and how to make the most of it!


Key Features of the Forex Calendar from Forex Factory


Understanding the features offered by the forex calendar on Forex Factory is crucial for news forex traders who want to make the most of its utilisation.

The currency calendar on Forex Factory appears just as it does in the image above. There is a navigation bar on the left that displays the current month along with a number of links that may be used to view the forex calendar for the following day, the upcoming week, the upcoming month, or even the day, week, or month before that. On the ForexFactory.com calendar, there are numerous arrows to the left of the monthly calendar display. These arrows can be used to select the dates you want to see on the forex calendar.The news events that are released at particular times and dates are displayed in the section in the middle of the interface. On the UI, we can also notice tabs that hide the news details and numbers for the individual news items.


Forex factory news system:

It works as an Interface for News and Events.

The list of news events is located in the centre of the screen. There are a few significant keys in this. The forex calendar on forex factor displays both the date and the time of the news release, moving from left to right. By selecting the time tab that is positioned just above the time column, traders can alter the time zone that will be shown. This gives the trader the choice of switching the time listing from the default display of Eastern US time, which is 5 hours behind GMT by default and 4 hours behind GMT when Daylight Savings Time is switched on between the months of March and October.

The country's currency, which will be impacted by the news trade, is the item that is displayed after that. This typically depends on the nation where the news is published. For instance, the currency sign that will be shown is AUD (Aussie Dollar) if the news is to be released from Australia.


The market effect colour codes are the next item as we continue to move to the right of the interface. This is a crucial part of the forex calendar available at Forex Factory. To illustrate the potential market impact of the news occurrence, three colour codes are displayed. The colour yellow denotes minor impact.


Along with the market effect buttons, the news detail is displayed next to the news release's title. On the Forex Factory forex calendar, clicking the news detail tab just to the right of the news title provides some information about the news, including what it is about, why it is important to the market, and how frequently it is traded annually.

The numbers bring this part to a close. The real (displayed after the news is announced), the consensus (prediction), and the prior numbers are displayed continuously, with a change to the prior figure (if any) constituting the last of the four sets of number columns.


Forex factory forums:

 Forex factory is much more than just forums but here is a few detailing on the same.

  • Interactive trading
  • Trading systems
  • Trading discussions
  • Platform tech
  • Broker discussion
  • Trading journals
  • Rookie talk
  • Commercial content


Is forex factory free?

 Forex trading signals are a reliable source of internet market movement advice. Watch the traders' perspectives in real time. We recommend to you the top trading signals from our experts. You can utilise signals for nothing at all.

Regarding the service for free forex trading signals:

  1. RTO averages and fundamental indicators are used to calculate all signals.
  2. Each trade signal's TP/SL value is determined by the ATR indicator or the movement of the prior average.
  3. Technical analysis-based signals on the day and four-hour charts.
  4. Our experts check all indications.


Is there a monthly price for forex?

After 12 months with no trading activity, accounts are subject to a $15 (or equivalent in 15 base currency) per month cost.

Is there a fee for currency conversion? 

Currency conversion fees could apply if you trade in markets that settle in a different currency than the base currency of your account. For instance, if you trade USD/JPY with US dollars as your base currency, any fees, commissions, and realised gains or losses will be immediately translated back to US dollars before being sent to your account. We typically charge +/-0.5% of the market rate at the time of conversion for this conversion. On the other hand, if you exclusively trade products that settle in the base currency of your account, such as EUR/USD in a US Dollar based account, you will not be subject to this fee.

Does EA charge for hosting?

You must trade at least a notional volume of 500K per month to be eligible for free EA Hosting. Your eligibility will be reviewed at the end of every month. Accounts that do not fulfil the minimum eligibility threshold to pay for the VPS service will have a fee of 30 base currency taken from them.


Final Reflections

We saw every important aspect of the forex factory, including its calendar system, its news system or whether its free or even legal to use. To end the discussion, it is to add in the conclusion the numerous free tools provided by Forex Factory that can greatly help you improve your trades, increase your chances of financial success, and better understand the ins and outs of the trading world. Forex Factory is much more than just a forum.

 Even if you think you know all there is to know about foreign currency markets, Forex Factory will introduce you to new ideas and ways of doing business that you might not have considered. This will not only have marked benefits for your trading acumen but might even end up making you money. When there are numerous fantastic tools available for use by the Forex Factory user base, it is a mistake to only use one component of the website.