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As the forex market is very dynamic and unpredictable, forex traders must keep track of the latest forex market news and updates. One way to do this is by using conventional financial news sites; however, there are more interactive platforms to find news, updates, and forecasts in the forex markets.
This is where forex forums and discussion boards can become handy tools for forex traders. These enable forex traders to get the latest updates, news, events, and market sentiment – all in real-time and from other traders and analysts who participate in the foreign exchange market and share the same goal.
So, to help you get started, we have compiled the top forex forums among forex traders.
Table of Contents
What is a Forex Forum, and Why Is It Important to Use One?
Forex forums are online communities and boards where users can discuss the latest news and trends in the forex market. Additionally, users also share their opinions about the next price movements of currency pairs and discuss trade ideas.
But that’s not the only reason why users use Forex forums. Forums can also be an excellent place for beginner traders who need advice or guidance on starting their forex trading career. Or, it can be valuable for those who use the same trading platform and need tips on how to use it, add indicators, backtest a trading strategy, etc.
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All these are part of the reasons why joining a forex forum can help you. Trading is partly about gathering information, and forums are a great way to do that. Remember that when you are trading currency pairs, you are usually on your own (unless you decide to join a prop trading program).
You often want to know what other traders think about a specific currency pair or the general situation in the market. Not only that, but you also want to share your trades and know what other traders think about the direction you decide to take.
So, to sum up, here are some of the main benefits of joining a forex trading forum:
Main benefits of joining a forex trading forum
- You can get information about market news, updates, and analysis
- Interact with other traders and be part of a trading community
- It helps you to know when economic events are about to happen
- It enables you to discuss the new trends in the market
- You can learn from experienced traders
- You get access to valuable educational content for free
- It helps you solve technical problems
Top 6 Forex Forums and Trading Discussion Boards for Forex Traders
As you can assume, there’s a wide variety of forex forums you can use online. Here, in the list below, we chose the top six forex forums and trading discussion boards for forex traders.
6 Best Forex Forums and Trading Discussion Boards
1. Investing.com
Investing.com has undoubtedly placed itself as one of the world’s leading financial websites and portals. With a monthly average traffic of around 170 million users, it is no surprise that Investing.com has developed a very effective and active discussion forum and boards on its site.
The good thing about Investing.com is that the discussions on the site (or mobile application) are a bit different. Basically, you can navigate to various instruments and find the comments tab. There, you can find lots of comments from other traders, primarily when you focus on popular assets like the EUR/USD, GBP/USD, crude oil, and S&P 500.
Best for active day traders
Pros
- Discussions are usually dominated by experienced traders
- You can find discussions about every currency pair available in the market
- Excellent mobile app
- For some assets, the trading discussions are very active
- Easy to use
Cons
- No threads about forex brokers, platforms, and educational material for beginners
- There is no forum but a trading discussion on every instrument page
2. Reddit
We all know that Reddit is the world’s largest and most diverse forum website. You can find anything, literally anything, you want on Reddit. From Yoga to sports to some of the most bizarre Reddit groups out there. So, of course, you can also find lots of trading and forex market forums.
Now, let’s be honest, Reddit is not for everyone. Finding the right thread is sometimes difficult, and asking questions could be intimidating. At the same time, Reddit is not just a forum. As evident from the GameStop story in 2020, Reddit could be a movement.
It’s a fun place to be in. You practically join a group of people who sometimes have a collective goal. Now, Reddit could be a bit to use for some people, but you can certainly get many trading ideas and opinions about the forex market.
With this in mind, you need to find forex trading groups on Reddit. Some of the best subreddit groups about forex trading include:
- r/Forex
- r/ForexFactory
- r/Forexstrategy
- r/forex_trades
- r/Trading
- r/algotrading
Best for: those who want to join a forex trading community
Pros
- Reddit is strict about fake news and releasing non-accurate content
- You can join several forex trading-related groups
- As of writing, the forex trading group has 266K members
Cons
- Not very friendly for beginner traders
- Not the best option to find news and updates
3. Forex Factory
Forex Factory is one of the oldest and most popular forums for forex traders. The site, which was founded in 2004, offers a vast variety of threads all over the forum. You can basically discuss any category or topic related to forex with more than 700,000 members.
With such a huge user base, the ForexFactory is perhaps the most popular forex forum out there. So naturally, you can find trading discussion forums about specific currencies, technical indicators, chart patterns, forex trading strategies, forex trading systems, broker discussions, trading platforms, trading psychology, etc.
You can even get info about forex trading taxes in specific countries. In sum, if you are looking for the most comprehensive forex forum, the ForexFactory is likely the best of all.
Best for beginner traders and professional forex traders looking for news and updates about a specific currency pair
Pros
- The largest forex trading forum in the world
- An excellent economic calendar
- They have threads focusing on just one currency pair (EUR/USD, GBP/USD, USD/JPY, etc.)
- Best forex forum for beginner traders
Cons
- The forum is somewhat messy and not well organized
- You first need to become a member to view discussions and upload posts
4. MQL5 Forum
It’s not a big surprise that MetaTrader 4 & 5 are forex traders’ most popular trading platforms. So, this forum, which is completely dedicated to answering all the questions about the MetaTrader trading platform, is also the favorite forum for MetaTrader users.
The MQL5 forum covers lots of information about the MetaTrader trading platform. If you are a beginner, you can find answers on the MQL5 forum on downloading and installing the platform, using the MT WebTrader platform, setting up technical indicators, and working with multiple charts. Furthermore, traders can find many discussions about automated trading systems and Expert Advisors.
Best for: MetaTrader 4&5 users and algorithmic traders
Pros
- The best forex forum for MT4&5 users
- The perfect forum for those who are looking for information about automated trading systems and Expert Advisors
Cons
- The forum is not well-organized
5. TradingView
TradingView is one of the most popular and widely used free charting platforms online. This massive site has nearly 200 visitors in a month, and some traders even prefer to use the TradingView charting software over those available on trading platforms. And, as you can expect, it has an excellent trading forum for forex traders.
Technically, the TradingView community section is categorized into live streams, trade ideas, educational ideas, and scripts. For example, traders looking for Forex news and forecasts can navigate to the community-trade ideas-forex. In there, community members regularly post news, technical analysis forecasts, forex chart pattern tips, forex trading systems, etc.
In sum, TradingView’s forum is the most professional forum and trading board discussion for forex traders.
Best for: technical analysis traders
Pros
- The perfect forex forum for technical analysis traders
- You can find live streams and trade ideas
- Great forex forum for beginners and experienced traders
Cons
- It takes time to find what you need
6. Twitter
Yes, we know, Twitter is not really a forum. But it could be, right? I mean, technically, Twitter is a private forum, so why not use it as a platform to get information about the forex market? And, by all opinions, Twitter is one of the best places to get information about financial markets.
Best of all, when using Twitter to find information about the forex market, you can use top trading hashtags to search specific terms and keywords. Furthermore, you can also follow day traders and analysts that influence the market or share valuable information.
Best for: active scalp and day traders
Pros
- You can use Trading Hashtags to follow specific topics, traders, and analysts
- Typically, Twitter is the first source of news
Cons
- Twitter is not the most reliable source of information
- Some people find Twitter hard to use
Summary
To sum up, a forex trading forum can be an excellent tool for traders to get news, updates, trade ideas, and guidance on using different platforms and features. Of course, you should not rely solely on the information posted on forums; however, it is an extra tool you should use to expand your knowledge and know you have the correct information.
Still, we recommend choosing a forex forum based on your trading needs rather than the other way around. And, if you are looking to join a live trading community, we suggest you join our trading room, where you can access live daily market streams with our trading coaches and become part of a trading community.
Frequently Asked Questions (FAQs)
Check some of the most frequently asked questions about forex trading forums.
Why should you join forex trading forums?
Frankly, many traders do not use trading forums and even dislike them as they may create a bias in their trading decisions. But, this way or the other, at some point you might have to get some help or hear another opinion from other traders. When you join a forex forum, you can connect with other traders who are on the same level as you are and going through the same challenges and difficulties. Additionally, you can learn from experienced traders who share their opinions and trading ideas.
What are the best forex forums on mobile apps?
Clearly, many forex traders are looking for a mobile app enabling them to interact with other traders. Our research shows that the best mobile apps you can discuss with other beginners and experienced traders are Investing.com, Reddit, TradingView, and Twitter.
What is the best forex forum for beginners?
There are many forex forums that can help forex beginners find educational material for free; however, it appears that the best forex forum online to learn about foreign exchange trading is ForexFactory.
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