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A Review of Top Forex trading Forums

By Charles Hopkins Published 10/14/2006 | Finance

Forex is the financial market upon which foreign currency transactions take place. Brokers, seasoned traders and common folk alike trade on its platform and with the boom of the Internet, trading forums for Forex have erupted everywhere too.

A Forex trading forum allows traders from all walks of life to meet and exchange information on a set-up interface. Forums are a great place to meet new people, develop new relationship and exchange information and tips. Forums have become one of the most used tools by people entering the Forex world, since on these forums they can ask questions and get answers by professionals and others who are like them. It is also a great way of networking.

A simple search on the net brings up countless web pages of Forex trading forums. However, it cannot be said that all the said forums are up to par. Many fail to pass even the first test of easy access. Thus proven lagging with some of the most common Internet browsers, many of these forums fail to open within a relatively reasonable amount of time. And when one knows how time is of the essence in the Forex field, suffice to say, that the cast net for forums return back with a limited pick of fully functioning and satisfactory Forex trading forums.

A common feature on almost all the web pages of Forex trading forums is the interface and graphics used. While it is true that it has to conform to an established set of forum rules, like graphical notices and threads, it was astounding to find that almost all the forums visited opened upon a blue-grey background color and relatively similar graphical interface format. At times, some sites could be confused with one another given the remarkable similarity between the displays. This could be attributed to the fact that most Forex trading forums are powered by the same name.

The Daily FX web site was one of the first to pop up in the list of accessible forums. Its homepage carries many relevant links to pertinent Forex information and articles from around the globe, and its forum is quite easily accessed. The forum page typically required the user to login or register before being able to post on its boards. The register page was rather easy to fill and the resulting log-in was quite speedy and efficient. The forum has a relatively large set-up of available posting boards with many different and varying topics. One of the proposed boards concerns FXCM products and services, to which Daily FX belongs. Its Trading Center boards are very informative, with the general trading discussion board as a wealth of tips and information on strategies, opportunities or simply the thoughts of the forum registered traders. The Member Trading Journals allow the traders to keep a log of all their trades and the Charting Center provides a place where the members can discuss the pros and cons of the Forex charts on the market that day.

The Journal Center is a very personal niche where traders can find a wealth of resources and information about keeping a journal. The Currency Pairs boards, with specific boards for every major pair, allow traders from all over the world to share thoughts and strategies on the opportunities of the Forex market. A board is even available for discussions on Commodity Bloc Currency Pairs. The Archived Discussions on their own hold a wealth of resources and information pertaining to the Forex markets.  But Daily FX also has general boards, one for announcements and one where traders can kick their shoes off and just chill in the Community Lounge. On another note, the personal statistics box for the forum provides the stats regarding all the exchanges on the boards, as well as, a small welcome note to the newest member to join. It is an overall well-rounded forum where one can hardly say he has not found what he was looking for.

The Go Forex website on the other hand, comprises of mostly ads on its page, though it does contain relevant links and pertinent data regarding Forex markets. Its Forum section deals mostly with question and answers in an ask-the-expert format. A click takes one to the said forum, where the required registration and log-in have to be undergone. However, very painless and speedy here too. Go Forex trading forum holds quite a handful of boards and can be said to go straight to the point where its information is concerned. Information is provided on the experts who will reply every query and this is a rather pleasant touch, to somehow know who one is dealing with. The Forex related boards have a Beginners Forum, which can be very soothing to a harassed newcomer, since hes moreorless assured to find the answers he is looking for in there. The remaining boards are more technical and direct, with topics ranging from Money Management and Trading Psychology to Technical Analysis and finally Forex Analysis.

Daytradingmarkets.com provided a relatively open Forex trading forum, whereby all the registered users can post about any topic pertinent to Forex; be it asking a question or discussing strategy.

The forum page at Forex Factory provides a mix of what has been seen on most websites and their related forums. The page hosts a wealth of information regarding the current status of the Forex market and also carries a brief summary and link to the latest posts on the boards. It does however require a registration log-in to be able to reap the full benefits of the forum discussions. Its actual forum page, where the full posts are found, is another very good compromise. It carries many posting boards, on various topics of the Forex, and gives the link to the latest posts for the specific board. Forex Discussion allows for discussion from members around the globe, Journal Factory provides traders journals and all the relevant information. Broker Discussions allows talking about Forex brokers; Forex Beginners sports a question and answer description; and there are two boards, Forex Articles and Forex News and Press to provide information from these areas about Forex markets. Its Niche Forums allow for more specialized discussions, and its Community Boards allows for a real Forex community to form and just chill while talking of any topic under the sun.