You don’t need to look too deeply into the world of websites that deal with the foreign exchange market to see that some are a lot more professional looking than others. But if you take a look at where the various sites place in the search engine results you will see that it’s not always the ones with the most professional design and layout that feature in the top section of the results.
This reality points to the fact that there is one thing that counts for more than anything else when you need news on anything and everything to do with Forex – and that is accuracy and reliability.
The website www.theforexnews.com probably falls somewhere in the middle of the competition when it comes to design, but the depth of information included on the site is good enough to warrant a high search engine ranking. That’s why it is worth taking a closer look at what it has to offer.
Starting with the home page
The home page is a long one, but there is plenty to look at when you arrive. When you first take a look at that initial screen full of information you might be forgiven for thinking that there isn’t a lot here that other sites don’t do better, but you would be wrong.
This website is a golden example of the fact that some home pages hold just a fraction of the potential of the entire site, and there is certainly a lot to explore here. What’s more, if you are a relative beginner in the world of foreign exchange markets you will soon appreciate finding this website since it has an impressive selection of tools to use and guidance to make the most of.
Blue round edged boxes hold the keys to what makes up this website, and one of the first ones to catch your eye will no doubt be the FX Toolkit which is on the left hand side of the page. This holds the links you will need to start making decisions on how to make inroads into the foreign exchange market. You’ll notice a link to FX lessons as well, which we will explore in the next section.
Meanwhile in the center of the home page you will see Forex analysis and the latest news stories concerning the foreign exchange markets as well. These are provided by Google News so you are guaranteed to see the latest stories that are available. Scrolling down still further you will be treated to a further selection of stories and headlines relevant to the market from elsewhere. If you have your browser open to show the home page you could refresh it every now and again to see the latest headlines which are occurring all round the world.
The required search facility is at the top of the page on the right hand side, and allows you to look round the site as well as searching on Google to find what you want. Furthermore you will see an invitation to request their newsletter a little way further down, which gives you another opportunity to get more information on the markets free of charge.
This is probably the one thing that really stands out with this site, simply from looking at the home page. It provides a lot of advice, information and knowledge without charging for the privilege; and the advertising is almost non-existent as well. What little there is fits in very well with the overall balance and look of the site itself.
In short this is a home page which does its job well, linking you in to the many advantages this site has for anyone wanting to deal in the foreign exchange markets. Even if you already are at that stage, you will benefit from giving this site a proper look.
What sections are there to explore?
Let’s begin with the FX lessons section which can be accessed from the home page. This is a huge and impressive section of the website which houses lots of articles on various aspects of foreign exchange trading. Many of these are aimed more at beginners, but everyone can learn something from browsing through the huge pages of articles which are included.
You will also find that the articles are all of a decent length, each giving you an in depth look at some aspect of the market – whether that is an overview of what goes on, or a specific look at how a particular currency is performing. There are also a number of links to articles held elsewhere on the internet at the bottom of the page, thanks to the presence of a feed from Google News.
If you are after a demonstration of exactly what it’s like to trade in this market then you should click on the FX Demo section in the small menu which is situated near the top of the page. This takes you into a screen which invites you to see how it is done online by taking advantage of a free trial with virtual money to experiment with for a whole month.
Another area that many beginners will find useful is the glossary. This is very comprehensive and while it is all contained on a single page for ease of use, you can also click on the initial letter of the word or phrase you are after and you will be taken directly to that section. It is a quick and easy glossary to use and will come in very handy on many occasions.
There is also a calculator which allows you to work out your stop loss for every trade, according to how much risk you are willing to take and so on. As you enter your account balance and move the relevant sliders to change the data given, you will see that the stop loss dial will move accordingly, giving you an idea of how you should continue. It may take a little while to get used to how it works if you are fairly new to this, but it’s certainly a useful tool that you should have close at hand.
You’ll also find a couple of useful charts in the relevant section, which will give you an idea of what is going on in the markets, although the home page probably holds the best information here. You will see a chart on the right hand side of that page which shows you a comprehensive selection of exchange rates and how they are currently performing. This is a good ‘at a glance’ chart, since the rates which are performing well are in green, and those that aren’t doing so well are in red.
Another chart which is accessible from the left hand side of the page is the interest rate calendar, which reveals the current rates that are in force in various countries, as well as the date on which those rates were last changed. This can be useful to know if you are planning to trade certain currencies and you need to know what influences are present in that particular area.
All in all there is plenty to get your teeth into on this website, and while a lot of the information is clearly aimed at beginners, many experienced Forex traders will also find a lot to help them with their work here.
How user friendly is the website?
There is no site map, but the mark of a site which is easy to use is that you can get by quite easily without it. Navigation is very straightforward and there is really no danger of getting lost among the pages of the site. While there aren’t too many sections overall, each one is extremely in depth and contains a lot of information.
The layout also remains constant as you go from page to page, so you always know where the menu bar is and the various different links to other pages. This means that after a short while navigation becomes an almost unconscious process, meaning your attention is focused on the information in front of you rather than on how you need to find it.
Sometimes the design of a site gets in the way of your use of it, but that isn’t the case here. Its simplistic yet effective design helps you get to where you want to be without any problems.
What is the single best feature?
The best feature on this site is one that many others do not have. That is, a complete education section aimed at newbies which takes you by the hand and walks you through exactly what Forex is all about. This is split into three sections and starts with a basic overview of the practice. Each part is also broken down into steps and it is advisable to go through each of these in turn to get the best from the program.
You’ll also notice that each part is written in a very down to earth manner. The world of Forex trading can be very confusing to those who are arriving at its doors for the very first time, and this is something that the website owners are clearly aware of, because they have taken great pains to ensure that their articles and education section are written to be very accessible to everyone.
There is also a section within this part of the website that introduces you to the various charts and statistics that you will need to be able to understand if you are going to enter this market. These include diagrams where appropriate which are clearly labeled and very easy to understand.
While most websites on this subject contain some kind of nod towards beginners to the market, very few go into this kind of depth. If you take a look at the top right hand corner of the page you will also see a link to the videos section of the education center. This contains a lot of different videos, each concentrated on a separate area and giving you a further insight into how to get the best from your forays into the foreign exchange market. And as with the written lessons it is definitely the case that many people who already have some experience in the market will benefit from taking a look at what this website has to offer in this area.
It’s an outstanding section that puts this site head and shoulders above the rest when it comes to attracting the newbies.
Many websites which are focused on the foreign exchange market can be off putting for beginners. But www.theforexnews.com doesn’t fall into that trap. There is plenty here to help you develop your fledgling knowledge and it is done in the best way possible.
Furthermore the website owners also invite visitors to get in contact with them if they have any problems or suggestions regarding the website. You will find a link to the contact form on the home page, among other places. As you would expect from this site, the form is quick and easy to fill in.
It is always tempting to favor those sites which have the most professional appearance, but when it comes to this area of knowledge it is the information that is included on the site which is of the greatest importance. That’s why it is always wise to compare a number of sites in this area before settling on those which are of the greatest interest and importance to you. Once you have done that, you may well find that www.theforexnews.com does come up trumps in your results.
One final point which illustrates that this site is a good one to rely on is that it isn’t favorable to any one country. It deals with the Forex market from a global perspective and never tries to do anything other than this. So it doesn’t matter which country you are based in or which particular currencies you have your eye on trading with, there will always be something here to appeal to you.
And that is the mark of a good website.