Reviewer Quality Score
based on 17 reviews
lingsbord
forex tv review
for ForexTV
9/6/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- Forex TV is a little misleading as a title. I remember when the primary focus was pre-recorded video streams about the market in general and analysis of what happened recently in the markets, i.e. a 20:20 hindsight service.
However, Forex TV has morphed into a much more useable site with contributions from expert traders and some very useful articles from those in the know.
As with several other similar sites, this is one of those first-stop sites that can help to develop your trading "roadmap" for the day ahead.
One of 4 or 5 sites I'd look to each day before I start trading.
GFT 360FX.com
for FX360.com
8/25/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- Once again this is a site designed to look like a genuinely free reference tool but in reality it is a clever marketing exercise on behalf of a retail broker, in this case GFT. You give them your email address to get a free daily update and the marketing begins.
However!! - In this case you have to say the content on 360FX is genuinely excellent, and the whole package is a truly useful and beneficial resource for all traders, with technical analysis, fundamental news, chat and forums with senior traders and even direct trade recommendations. Talk about putting money where your mouth is!
I wouldn't advocate blindly following their trades without your own prior corroboration of the set-up, but the idea of a company like GFT giving recs shows the confidence they have in their product, a confidence well placed in my view.
Overall then, this is probably the first website you should open up in the morning! Well done GFT.
Best Retail Platform
for MetaTrader 4
8/24/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- In a perfect world I'd run Currenex every time, but when trading retail accounts MetaTrader4 (look out for MT5 soon btw) is the retail industry standard. Fully customisable, trading off the chart, it's fast and accurate and can take any signal service or auto-trade program you can throw at it.
One of the nice things about MT4 is that it's so ubiquitous.....if you get fed up with your broker you can migrate to another and there's probably a 50:50 chance or better that they can offer you MT4, which is a BIG help.
I also like the Detailed Report, with a list of all trades and a summary section including biggest win/loss, average win/loss, record consecutive wins/losses and so on. A great feature and overall a great platform. As far as retail is concerned, it really doesn't get any better - I just hope they don't screw it up for version 5.
Investica
for Investica Daily Currency Analysis
8/24/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- The website is truly awful and much of the content is out of date. They now say updates will resume on September 1st. However, I've had Investica stuff in the past including the daily email and it's OK. The problem is they are selling stuff that's available all over the place for free.
Their longer term forecasts for where a pair is going to be are a waste of time because they have no idea what's going to happen to rates, economies, geo-political situations and the effects of shifts in pegs, oil, gold etc, let alone the order and speed in which economies are going to emerge from recession.
Their analysis is no more (or less) valid than anyone else's, so if you want to see what the market thinks, trawl around for an hour each morning and you can have 20 qualified opinions for free instead of paying $39 for one.
Daily FX review
for DailyFX
8/24/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- First things first. For those of you who haven't yet worked it out, Daily FX is operated by FXCM and is essentially an ad for their services. However, looking past the clever marketing there is a good deal of useful stuff on there.
I like the countdown to news and a live guy talking about the numbers and their effect on the market, and in general this is quite a solid resource. Where it differs from the likes of fxstreet for example is fxstreet has excellent content swamped by so much advertising you can't see it.
Allthingsforex seems to strike a good balance and is certainly worth a look too as a one-stop fundamental info resource.
Active Trader
for Active Trader
8/24/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- A generally well put together magazine with some articles of interest for forex traders in every issue, but it is a little "general" in coverage and does place considerable emphasis on stocks.
I'd say too that it's a little too "US-centric" in that much of the content is specifically relevant to the American market, but in the end it's an American Magazine so I guess it's understandable.
Overall a good publication, an interesting read with some quality articles, but there's more relevant content out there for Forex Traders.
Currency Trader
8/24/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- Currency Trader hits the mark for Forex Traders, carrying a wide ranging but always relevant series of articles on everything from TA, to fundamentals, to brokers and software.
I get the free download edition, which is the full magazine, and if you miss one there's always a link to the previous month's edition. Unlike many other financial magazines this one has real relevance for us Forex Traders and I'd highly recommend you download a free copy and see for yourself.
CNBC Plus
for CNBC Plus
8/23/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- Just like Bloomberg this is coffee and cakes at break-time stuff, not a useful tool for an active fx trader.
You're paying for a service of which only a small proportion will help your overall view of the market, and you can get the same for free elsewhere. Don't get taken in by the idea that it might make you feel connected and more "real" as a trader. If you're watching coverage from the Geneva Motor Show and an analysis of Auto-Markets generally, those pips are getting away!
You want news when it comes out, not a chat about it 5 minutes later. You want genuine analysis that can help you with today's trades right now, not what may or may not happen in 6 months time.
Switch off and TRADE! Then, when you've booked some pips, kick back and watch CNBC like I do! Good Trades everybody.
Bloomberg
8/23/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- In terms of relevance to the Forex market, Bloomberg is pretty lame. They discuss a very wide-ranging set of financial issues and of course, any and all economic news is relevant to Forex to some degree because the imbalance between economies drives price change, but in reality Bloomberg TV is not a valuable resource for an active Forex Trader. On data releases for example they are always a couple of minutes behind, as they line up some suit with a bouffant hair-style to analyse what it means for the markets, but primarily this service is aimed at investors in equities and similar.
The Bloomberg trading terminal is a completely different animal and a great tool, but Bloomberg TV is just shiny ladies talking about generalities in the financial markets. It isn't going to help you make winning trades guys, shiny though the ladies are!
Nice to have on in the background, but get a FX news squawk-box or something like it if you need to be kept abreast of what's really going on.
Simply The Best
for eSignal
8/23/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- Yes, I would recommend this to a friend
- Quote:
- The Forex module from e-Signal is not cheap, and it's a little over-complex in some areas, but I have never found anything to match it for accuracy and the quality of the programming. When you switch timeframes the trendlines stay where they're supposed to, (unlike some packages I could mention!), and virtually every feature is infinitely adjustable and definable to suit the user.
This is a real pro-trader's set up and worth every penny (about a pip a day).
Probably overkill for a beginner to be perfectly honest, but even so there is nothing more accurate on the market, so definitely worth considering.
