Almost every forex broker aims to provide its clients with research content and tools to find and analyze investment opportunities. At the same time, we are living in the digital information age where traders can get lost in the sea of headlines, making it hard to get the information they need unless brokers provide the right structure for forex research.
Beyond news headlines and an economic calendar, leading forex brokers usually integrate in-house research for fundamental news and technical analysis, then couple it with outsourced research content. Firms that take it a step further may even create their own TV channel, for example, to stream video updates instead of providing basic daily or weekly video updates.
Furthermore, daily or weekly market recaps, live trading rooms, and integrated pattern- recognition tools for news events and charts, as well as screeners, heat maps, and sentiment indicators are increasingly integrated as research tools available within trading platforms.
For conducting forex research in 2017, Saxo Bank is the best. While many brokers struggle to organize research for their customers, Saxo Bank does a fantastic job centralizing the research it provides on its trading platforms. Saxo Bank also goes above and beyond, providing Trading Floor, which is its research-focused site that incorporates a social network where traders share commentary about markets.
IG takes second place for research, with a broad range of tools available within its web platform. The broker also offers its own streaming video, IG TV, along with a huge array of daily blog updates and detailed posts from a team of global analysts. IG only slipped to second place as its research is not entirely centralized, and many features will open in a new browser tab, for example, making its offering not quite as clean as Saxo Bank. Organizational drawback aside, its acquisition of DailyFx for $40m in 2016 from FXCM is a nice plus, and should enhance IG’s research capabilities long term.
In third place is Dukascopy, which incorporates an extensive amount of research-related content within its website and trading platforms, along with a fully staffed professional TV studio that powers Dukascopy TV. To round out its offering, Dukascopy provides many social elements within its community to engage traders with important market content and related analysis tools.
Rounding out the top five finishers for research, Forex.com and CMC Markets finished fourth and fifth, respectively, with both firms offering similar research content and tools integrated into their forex trading platforms.
Saxo Bank deserves its top spot for research in 2017, as it delivers on all fronts for forex research from both its website and within its trading platforms.