ForexLive has been up and running since 2008 and it is considered to be an excellent source for both professional and retail traders across the globe. The key concept underlying the company’s operations is that traders want and need relevant and concise trading information, and ForexLive makes it its goal to deliver this throughout every 24 hour period. ForexLive is able to do this because it has a very efficient team of FX analysts. These analysts have an intrinsic sense of what is important and they know what stories matter. This knowledge is backed up by 100 years total experience with trading.
How it works
ForexLive does not just churn out headlines and hope that this works out for traders. Rather, the important headlines are delivered, but beyond that the company goes to lengths to make sure that traders will understand the relevance of the headline. The analysis produced is to the point, so traders do not have to read through reams of information to find what they need. This saves time and increases productivity for traders. There are also other aspects of ForexLive that make it a top trading website. One is that it provides educational information which can help inexperienced traders to advance and increase their profitability. Concepts are explained in a manner that is as easy as possible to understand to facilitate this education. Of course, learning can also be achieved through the ForexLive community. Here traders are able to learn from the knowledge and the good, bad and ugly experiences of others. All of this helps traders to “trade smart” according to ForexLive.
An area where ForexLive stands out is with its technical analysis. Many stories are covered and the news is provided in context. In addition the general trend for the particular news story is also outlined. For example, if a currency is dropping the story will not just indicate that it is dropping but it will also point out why that is going to continue (or not). The detail of the information that is provided is of a high quality, and community members are active in commenting on it, so that different perspectives and diverse ideas are also generated, all of which helps to build everyone’s knowledge. In addition to this it is also possible to find and compare forex brokers. Relevant information on the markets of each are also provided, so it is possible to tell what the specialty markets are for each. A link is provided to each to help traders to be able to easily open accounts with these forex brokers.
One of the features that really helps with making ForexLive appealing so much to its customers includes the company’s economic calendar tool. This is beneficial because it provides an improved and better informed perspective on factors from the news that could impact trading activities. The calendar includes economic data indicators and it is possible to get a sense of mood sentiment. Currency information is particularly changeable and so this is one aspect that is useful for traders.
Absolute beginners to the world of Forex will benefit from the “Forex Jargon” that is offered up on the site. This is also useful in helping more experienced traders to understand terms that they may not have come across before. It even includes acronyms so that beginner traders do not have to feel stupid by having to ask someone what a basic term is if they do not understand. Short forms for the different banks such as BoE (Bank of England) and BoJ (Bank of Japan) are also included so that it is easier for new traders to get up to speed quickly.
While ForexLive is particularly popular in the United States, it also gets a lot of its viewers from Australia, Canada and Greece. Alexa rankings for the website demonstrate that it has a global ranking of 38,258. It is ranked as 45,978 in the United States. Other web metrics show that the website has a bounce rate of 53.90% which has been improving. People who visit the site make 2.53 daily page views. Visitors are often driven to the site from Forex Factory, another great trading website, but also from Google searches, from Twitter and from Investing.com.