Updated 26 August 2020
Trading on the foreign exchange market, or forex trading as it is more commonly referred to, takes a considerable amount of skill and knowledge.
For beginner traders, there’s a lot to learn, from basic concepts to trading strategies, risk management and platform familiarisation.
Once you’ve built the confidence to begin trading, you’ll then need to stay on top of market trends, economic news and global events that may impact the market. You’ll also want to continually improve your trading skills, learning how to successfully execute increasingly profitable trades.
Thankfully, there is a huge amount of information available online and it is relatively easy for beginner and experienced traders alike to find all they need to know with a little bit of research.
You’ll want to be sure that the sources you turn to are legitimate and trustworthy. Whether you’re looking for news, technical analysis, strategy guidance or educational resources, it’s vital that the sites you use are reputable.
To help you get started, here is our list of 10 of the best forex websites available.
The following top forex trading websites include those providing news, education, analysis and trading tools. For a successful trading career, it’s best to use several in conjunction with one another.
Best for: Beginner education
The first on our list of best forex websites is Babypips, a user-friendly site with an easy to navigate layout and a range of tools and features ideal for those new to the world of forex trading.
It posts regular news updates and feature articles in areas such as:
However, it’s through its educational content that Babypips really shines.
Its School of Pipsology takes a light-hearted approach to what is essentially a highly complex topic. Lesson articles are separated into 11 courses, beginning at pre-school level through to graduation, and are supported with online quizzes and a comprehensive glossary of terms.
There are also several free to use tools, like its Position Size Calculator and Gain and Loss Percentage Calculator, designed to help beginner traders mitigate risk and assess the profitability of their trades.
Signing up for an account is free and you can also exchange tips and ideas with fellow traders through its various forums, making Babypips perhaps the best website for forex education for beginners.
Best for: Financial news and analysis
Bloomberg is the customer-facing website of the international news agency, Bloomberg News. It covers just about everything you need to know about events in finance, business and trading.
With stories updated as they unfold from around the globe, it is probably the best website for forex news, as well as providing markets trends, analysis and currency data.
Users are permitted free access to a limited number of articles each month. To get the most from Bloomberg’s services, you’ll probably want to consider signing up for either its digital or all-access subscription, which can be paid for monthly or annually. These come with additional benefits including The Open and Close, Bloomberg’s daily newsletter for traders.
Best for: Forex calendars
DailyFX is a free to use website powered by UK-based brokerage, IG. As you would expect from a broker-run site, it provides live market data for major currency pairs, with both simple view and detailed view charts for in-depth technical analysis.
The site provides regularly updated financial news, which is easily filtered by market. You’ll find several articles per day posted under the forex news tab. This is complemented by a separate real-time news feed that pulls in breaking information from accredited sources.
There are plenty of educational resources in DailyFX’s Forex University, with courses offered at beginner, intermediate, advanced and expert level. You can also take advantage of its daily live webinars.
There are several useful trading tools including pivot point and trader sentiment charts, but perhaps the most useful tools are the economic and central banks calendars. These provide clear details of upcoming global events and future meetings of each country’s central bank respectively, allowing you to make informed predictions on potential market movement and adjust your positions accordingly.
Best for: MetaTrader training
FOREX.com is a leading UK forex broker that offers a comprehensive library of educational content. As a broker regulated by the Financial Conduct Authority, you can be sure that the guidance provided by FOREX.com is trustworthy and from a reputable source.
All of the educational materials are free, you do not have to open a trading account with forex.com to access them.
Topics covered include:
Resources are separated into the three levels of beginner, intermediate and advanced.
Forex.com also offers training on trading platforms. This includes its proprietary platform, but perhaps of more value, it also provides several tutorials on the use of the MetaTrader suite.
As many forex brokers provide this platform, learning how to use it to full effect is well worth your time.
Best for: Forex forums
This entry in our list of best forex websites is more geared towards the professional trader and, as its name would suggest, focuses solely on the foreign exchange market.
Information is easily accessible under six simple tabs. Some key ones are:
Although not comparable with some of our other best forex websites, there’s also a fairly comprehensive news feed.
Forex Factory’s best features are probably found under its ‘trades’ and ‘forums’ tabs. The former allows you to see live trades being placed by others in the market, with the latter hosting a wide range of active discussions.
You can use Forex Factory for free, but you will need to register for an account to take part in its forum threads.
Best for: Good all-rounder
A highly popular source of information in the trading community, FXStreet is a good all-round site providing everything you’d expect to find on one of the top forex trading websites.
News, analysis and a range of forex charts are available including live charts, a forecast poll and rates table. FXStreet’s Chart Station allows you to track four charts on one page for detailed and comparative analysis.
A lot of FXStreet’s resources and tools are free to use, including its trading signals service, although signal notifications are limited per month and subject to a 15-minute delay.
To make the most of this feature and get access to all signals in real-time, you’ll need to upgrade to FXStreet Premium for a monthly fee. This will also give you access to its Trading Institute, which hosts four live forex webinars per week.
Best for: Free trading tools
This free-to-use website provides a wealth of useful trading information and resources including:
Investing.com prides itself on catering to beginner traders, with premium features free of charge. Although a US-based website, it provides a localised service.
Investing.com is also one of the best forex websites when it comes to free tools. Of particular note are its Forex Volatility and Forex Correlation calculators. These allow novice traders to get to grips with both the historic volatility and correlation data of a wide range of currency pairs, enabling them to make better-informed trading decisions.
Best for: Mid-level education and interactive learning
Next on our list of best forex websites is Investopedia, a comprehensive resource providing:
Investopedia has an exceptionally clean layout that is easy to navigate and user-friendly. Its news updates are separated under category tabs including ‘company’, ‘markets’, ‘trading’ and ‘political news’, though its coverage does not compare with the more dedicated news sites like Bloomberg.
You’ll find a multitude of educational articles that cover everything from basic terminology to professional trading strategies. These are well structured and informative, but perhaps a little more complex than the educational content found on Babypips.
For more in-depth and interactive learning, the Investopedia Academy is a valuable resource. Courses are available for all levels of experience, each consisting of over 30 individual on-demand video lessons and supporting materials like quizzes and practice exercises. Whilst its onsite articles are free to access, the Investopedia Academy is a paid-for service.
Best for: Forex charting
TradingView is one of the top forex trading websites for charting and social networking. Through cloud-based software, traders of all levels of experience can easily research and track the market with customisable charts set up for specific alerts and indicators.
There are four plans available:
The basic account is free but relatively limited. If you’re new to trading and want to practice charting currency pairs, then the basic account may work for you.
However, to take full advantage of TradingView’s charting software and active social community, you’ll need to upgrade to one of the paid plans. These do all come with a free trial, so you can try them out before making a long-term commitment.
Best for: On-demand learning
Unlike the other forex websites in this list, Udemy is not specifically designed for trading education or information. Rather, it is a global online learning platform that hosts a multitude of courses in almost every subject imaginable.
That said, it has an extensive range of resources for those looking to learn about trading on the foreign exchange market. A simple search for forex brings up over 2,000 courses, from introductory overviews to expert level lectures.
Whilst there are some free-to-access courses, most are paid-for lectures. Prices vary greatly and some can be quite steep, but you’ll often find price promotions that offer a significant discount. Courses are taken through on-demand video and most feature additional resources such as supporting articles or assignments.
Under each course heading, you’ll find an overview of what you’ll learn, a breakdown of each lecture and details on the course instructor. You’ll also see a course star rating and be able to read informative feedback from previous students.
There are so many websites for forex news and education that it can be difficult to know which ones you can trust, and which ones are best avoided. Hopefully, the above list has provided you with a variety of reputable sources with which to start or progress your forex trading journey.
As mentioned, it’s best to use several of these sites to ensure you’re covering all the basics when it comes to learning about forex trading.
For beginners, it’s advisable to start with basic educational content before moving on to market research and using trading tools. That way, you’ll fully understand how what you’re reading and the tools your using can help you make better-informed trading decisions.
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