1. Introduction

Successful forex trading requires more than just chart reading — using the right tools and websites can significantly improve your accuracy and decision-making.
This guide covers the top forex tools, news sites, calendars, and resources used by professional traders worldwide.

2. Best Forex Trading Tools

These tools help analyze price movements, identify trends, and make informed decisions.

A. TradingView

• The most powerful charting tool

• Includes thousands of indicators

• Social network for traders

• Real-time data and alerts

Best for: Technical analysis, chart patterns, ideas.

B. MetaTrader 4 / MetaTrader 5 (MT4/MT5)

• Most widely used forex trading platforms

• Built-in indicators + custom indicators

• Fast execution & EA (robot) support

Best for: Executing trades, using robots, backtesting.

C. MyFxBook

• Portfolio tracking

• Community trading systems

• Auto-trade performance analytics

Best for: Tracking performance and strategy testing.

3. Best Forex News Websites

News drives the forex market, so staying updated is essential.

A. Forex Factory News

• Real-time news

• Low/medium/high impact filters

• Community insights

B. Investing.com

• Global market news

• Currency updates

• Analysis from professionals

C. Bloomberg

• High-quality financial journalism

• Institutional-level updates

D. Reuters

• Fastest news delivery

• Trusted by banks and hedge funds

4. Economic Calendar – How to Use It

An economic calendar shows upcoming events that impact currency movement.

Best Economic Calendar Websites

• Forex Factory Calendar

• Investing.com Calendar

• MyFxBook Calendar

• Trading Economics Calendar

How to Use It Correctly

1. Check high-impact (red) events

2. Avoid trading 5–10 minutes before major news

3. Use the forecast vs actual data to judge market direction

4. Track your currency pairs' related events

5. Additional Useful Tools

A. Currency Strength Meter

Shows which currency is strong or weak — helps in choosing the best pair.

B. Pip Calculator (MyFxBook / BabyPips)

Calculate pip value based on account size and lot size.

C. Position Size Calculator

Helps determine safe lot size to manage risk.

D. Market Sentiment Tools

Shows what percentage of traders are buying or selling a pair.

6. Conclusion

Using the right forex tools and websites can dramatically improve your trading performance.
From charting platforms and news sites to economic calendars and strength meters, these resources help you trade more confidently, avoid unnecessary risks, and stay ahead of market movements.

If you combine these tools with discipline and a strong strategy, you can take your trading accuracy to the next level.