iFOREX: Expect more from your broker

When it comes to trading forex, finding a trading app and entering the markets is the easy part. All it takes is a browse on your app store and perhaps a few reviews to get the basic info about the app you’re choosing. But actually trading well, that is making conscious, confident decisions based on a solid knowledge base of how the markets work is not so easy. In fact, as the forex market is the biggest in the world, valued at over a staggering $6 trillion each day, it’s also fast moving, which means you’ll need to stay up to date on the latest facts and figures in real time in order to make informed decisions.

What kind of facts and figures, you ask? Plenty. You’ll need to check in regularly on the live rates of your chosen currency pair, which fluctuate by the second, as well as various fundamental elements that can impact currency prices including central bank interest rate hikes or decreases, geopolitical situations, economic conditions such as inflation and recessions and the various measures governments take to deal with them, and financial news headlines concerning everything we’ve just mentioned, all of which can significantly affect forex trading prices.

Therefore, it almost goes without saying that the broker you choose ought to supply most, if not all, ofthe above information so you don’t have to spend hours flipping between websites and charts, only to make a specific trading decision hours later, when said information may be out of date. The good news is that iFOREX is one such broker that offers a literal dashboard of vital forex trading information that’s simple to access and built right into the trading platform. Let’s take a look at some of these key features.

Charts

Performance charts are like a crystal ball of forex trading, as they show the past and present activity of a currency pair, which can help you speculate future movements. Looking at a typical candlestick chart reveals such information as the opening, closing, high and low prices of a particular trading day, and when used in conjunction with technical analysis, can reveal trends that may potentially help you to plot out your next trading move by deciding whether to open a Buy or Sell deal. These charts take some getting used to, which is why iFOREX also offers an in-depth explanation of both chart basics as well as technical analysis in its renowned educational resources center.

Economic Calendar

Every day around the world meetings are held to shape financial policy, leading to decisions that can affect the online trading price of forex pairs. When it comes to key currency pairs such as EUR/USD, USD/JPY, and GBP/USD, it’s these key meetings from central banks like the Federal Reserve (The Fed) in the US, the European Central Bank (ECB), the Bank of Japan (BOJ), and the Bank of England (BOE) that decide such important factors as interest rates, which then have a knock-on effect on currency valuations. But how do you know when these meetings are held? That’s where the iFOREX Economic Calendar comes in handy. Provided by a trusted third-party, this essential tool lists all upcoming financial meetings around the world and can easily be searched by date and time to find exactly what you’re looking for.

Financial News Articles

iFOREX’s main mission is to provide those involved in forextrading online(as well as CFDs) with an empowered trading experience, and that means keeping every trader abreast of the major events that are currently affecting the financial markets. The iFOREX Financial News section provides a wealth of current articles depicting the big events going on around the world that are affecting financial markets, from incidents on Wall Street to unexpected volatility in the forex markets. This information can then help lead traders in the right direction for more in-depth research into the activity of their chosen currency pair, thus helping them to make well-rounded, informed online trading decisions.

The Bottom Line
While it may be easy to jump into the forex markets, trading online itself is absolutely not. For every opportunity out there, there’s an equal amount of risk, and the most effective approach is through information. The more information you have about your currency pair, the better decisions you’ll be able to make. Best of all, cultivating a knowledge-based approach toward trading onlinemay help you to become a more skilled trader over time, as you’ll know exactly what information you need and where to find it.

The iFOREX trading platform was built for such a trader, providing a huge amount of valuable information and educational resources in an easy-to-navigate format to ensure every forex trader has what they need to trade with confidence. While you won’t be successful every time, you’ll at least understand more about the markets with each trade.