SGFX – Providing you with up to date Forex information
The currency market changes by the second. Those that deal in forex fully realize that they must stay on top of the current news and rates in order to make money. While there are plenty of forex sites online that offer this type of information, not all are created equal. The following information will help you choose which site, or sites, to use on a regular basis.
Real Time Rates
There are plenty of sites that offer live forex rates. These are free to use, and are a great tool. The problem is that some do not offer true live reporting. The information you could be looking at may be several minutes old. This can present a huge problem, and can cost you money. One way to get around this is to pull up several forex rate sites side by side, and see which updates the fastest.
Historical Forex Data
Look for a forex site that offers plenty of historical data. This will allow you to examine how a currency that you are considering has performed in the past. There is lots to be learned from this information, as it is one of the best methods of predicting possible trends that may help you profit. Those that make the most money on the forex market, are those that are able to spot a rising trend well before it happens.
Exchange Rate Calculator
Unless you are a mathematical genius, chances are that you will need to be able to quickly figure the exchange rates between currencies before making a trade. Yes, this can be completed with a trusty home calculator, but this tool is much faster. You do not have to pick a forex site that has this tool, but it is a nice option to have at your disposal.
Forex Trading Charts
Charting for more then one vehicle is time consuming and leaves room for error when you’re not an expert is this field. Coghlan Capital offers specialized Forex charts, both USD pairs with their Morning Analysis service and Cross pair non USD forex charts based on Median Line Analysis.
Choosing Forex trading software
There’s a ton of Forex software to choose from, but to be honest, very few are really any good. It’s a big market with a great demand so there will always be those trying to create a supply but they don’t always deliver quality.
This site is a 100% community driven site which has received thousands of reviews and comments about hundreds of Expert Advisors, Forex systems, strategies, courses and other products over the years. While we don’t test these products ourselves, we have an opportunity to see the overall situation in the Forex software market – something that can help greatly in choosing the right product.
So, without further ado, the following is a short-list of top Forex software based on comments, reviews and time they’ve been available (in no particular order).