Babypips is one of the most trusted names in forex education for newbie’s. It is a comprehensive forex educational website offering a trading-school which starts you out in forex “pre-school” and takes you step-by-step all the way up through the college level of forex trading education. It is a very well designed and user friendly website, very non-intimidating for the beginning trader. Babypips offers many other great features as well like blogs, forums, a “forexpedia”, and other various forex trading tools, for free.
Forex Factory (www.forexfactory.com)
Forex Factory has what is arguably the best forex forum anywhere on the internet. The forum is very active and includes a plethora of forex trading information from experienced traders. It is really a great learning tool for new traders as it is a virtual meeting place for both professional traders and amateurs. They have a great daily economic calendar that conveys the relative importance of all economic reports each day for the forex market. In addition there are many threads offering free forex trading systems, Forex Factory is a great tool to further your forex education.
Learn To Trade The Market (www.learntotradethemarket.com)
This is another good forex educational website that is geared specifically towards price action traders. Nial Fuller does a good job of explaining his trading strategies via a large library of free price action trading videos and educational articles. In addition to learning how to trade forex using price action setups, there are informative articles on psychology, money management, and similar topics. The daily market commentary provides current price action trade setups and a daily chart analysis; this is a useful resource for learning how Nial’s methods apply to current forex market conditions. There is also a comprehensive price action trading course offered that includes access to the member’s area of the website.
Bloomberg (www.bloomberg.com) and Reuters (www.reuters.com)
These two websites are grouped together because they are both very good and objective financial news industry titans. Both offer in-depth coverage of the global financial markets and each have pages dedicated to the currency markets. If you are looking for a more comprehensive understanding of the macro level fundamentals that are driving world financial markets, check out Bloomberg or Reuters. They also both provide up to date foreign currency exchange rates for just about any currency pair you care to know about.
Forex Peace Army (www.forexpeacearmy.com)
Forex peace army contains a vast amount of information on various forex products, everything from trading systems, courses, software, to managed forex accounts. It contains reviews of these products as well as reviews of forex brokers, educational systems, and forums. You will also find information that will help you determine whether or not a particular forex product is a scam or not. This website is widely regarded as one of the more honest and objective hubs for forex related information and reviews. As their website states “Forex Peace Army is an ALL FREE SERVICE for the community of forex traders”.