Everyone is looking for new ways to make money on the Forex market. With a very high average daily turnover and new traders getting started everyday, people are always on the look out for new indicators which tell them which currency pairs to trade and when. Simplifying such a complex task like trading in the Forex market is rather difficult but very possible.
One of the most common tools used for trading indicators by most traders is the news feeds & analysis which is provided by the broker. Broker news and headlines can help you decide what type of affects the market, political and business news is having on the movements of certain currency pairs. This can surely help you decide when to trade, but it’s been questioned whether market news coming from a broker is actually consistent or if it’s sporadic and unpredictable.
The truth is that it really depends which broker you’re getting your news and information from. Some brokers offer excellent, analyzed, detailed and consistent feeds while others seem to jump from region to region and from market to market without any real order or organization to it.
In order to determine whether a Forex broker’s news is high quality and useful or not, I recommend trying a demo account first. A demo account will allow you to try all aspects of the broker and trade in real time without having to make an initial deposit or having to risk your hard earned money. Trusted Forex brokers offer demo accounts for free and you can create as many as you like.
Once you’ve gained some experience with a broker, you will know if the news is useful & consistent or if you need to find a new source.