As a forex trader in Singapore, you’ll need all the help you can get to ensure that you constantly improve your skills and become more profitable.
What are currency pairs?
Currency pairs are two different currencies traded against each other. The most traded pairs are:
- EUR/USD,
- GBP/USD
- USD/JPY
These currency pairs are all traded in Singapore. When you trade a currency pair, you’re betting on which currency will rise or fall against the other. If you think the EUR will rise against the USD, you will buy the EUR/USD currency pair. On the other hand, if you think the USD will rise against the EUR, you would sell the EUR/USD currency pair.
What is forex trading?
Forex trading is buying or selling currencies on the foreign exchange market. The foreign exchange market is a decentralized marketplace where currencies are traded. Currency prices constantly fluctuate, and forex traders attempt to profit from these changes.
Fx trading is a popular way to make money in Singapore. It offers the opportunity to make high profits, but it also comes with a high risk of loss. It would be best if you have a solid understanding of the market before you start trading.
Fortunately, plenty of great resources can help you do just that. We’ll share 12 of the best ones with you in this article.
The Forex Guy
It’s a website created by Graham Neary, a professional forex trader based in Australia. It’s packed with helpful information for beginners and experienced traders alike, including trading strategies, analysis and commentary on the latest market developments.
BabyPips
BabyPips is one of the most popular forex trading websites out there and for a good reason. It’s full of great content for all levels of traders, from beginners to experts. There is a very active forum where you can interact with other traders and answer your questions.
Forex Factory
Forex Factory is another popular website among forex traders. It’s packed with helpful information such as economic calendar, market analysis and trading forums. You can also find plenty of trading strategies and ideas on the site.
TradingView
TradingView is a social network for traders with over 1 million members. It’s a great place to share ideas and learn from other traders. You can also find many helpful information and resources on the site, such as economic calendar, market data and trading signals.
Forex Tester
Forex Tester is a popular forex trading simulator that allows you to test your trading strategies on historical data. It’s an excellent tool for developing and backtesting trading strategies.
Myfxbook
Myfxbook is a social network for forex traders with over 350,000 members. It’s a great place to socialize with other traders, share ideas and learn from each other. You can find significant amounts of helpful information on the site, such as market analysis, trading signals and an economic calendar.
FXStreet
It’s a leading source for reliable news and real time Forex analysis. They offer extensive coverage of the currency markets, including live quotes, charts, economic calendars, etc.
Forex Peace Army
It’s a popular forex trading website that offers market analysis, trading signals, and broker reviews. They also have a very active forum where you can interact with other traders and get your questions answered.
DailyFX
DailyFX is a leading source for currency market analysis and news. They offer extensive coverage of the Forex markets, including live quotes, charts, economic calendars, etc.
Action Forex
Action Forex is a leading source for technical analysis and real-time Forex news. They offer extensive coverage of the currency markets, including live quotes, charts, signals, etc.
FXCM
FXCM is a leading online forex broker with over 200,000 clients worldwide. They offer a wide range of services for currency traders, including live quotes, charts, trading signals, etc.
Oanda
Oanda is another popular online forex broker with over 100,000 clients worldwide. They offer a comprehensive service range for currency traders, including live quotes, charts, economic calendars, etc.
Conclusion
These are just some of the great resources you can use to improve your forex trading skills in Singapore. With the help of these resources, you will be well on your way to becoming a successful trader in no time.
Check out more resources at https://www.home.saxo/en-sg/products/forex and start using them today.
