Best overall for TipRanks - IG
| Company |
Overall Rating |
Research |
TipRanks |
Social Trading / Copy Trading |
Visit Site |
 IG
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Yes |
No |
Visit Site
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A highly trusted multi-asset broker that offers a comprehensive trading package, IG is my top pick for TipRanks brokers in 2024.
IG integrates TipRanks directly into the broker's award-winning trading platform and is available for both demo account and live account holders.
TipRanks’ features at IG include Analysts' Consensus by sector, as well as their most recommended stocks for cash equities and CFD traders. You also get access to price targets and ratings that range from strong to moderate buy, sell, or hold recommendations across six sectors. Check out my full review of IG to learn more about its offerings.
Best platform integration - eToro
| Company |
Overall Rating |
Research |
TipRanks |
Social Trading / Copy Trading |
Visit Site |
 eToro
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Yes |
Yes |
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eToro was one of the first forex brokers to integrate TipRanks, years before it achieved more popularity. Available to live customers with a funded account, eToro offers TipRanks within the analysis tab on the platform.
TipRanks also creates well-performing Smart Portfolios available at eToro for social copy trading, like the one that tracks the holdings of Greenhaven Associates (a hedge fund run by well-known investor Edgar Wachenheim) and is copied by 578 investors. Due to its long tenure at eToro, this copy trading portfolio has over 7 years of actual performance (not including backtested results) to examine.
Overall, eToro has the most advanced integration of TipRanks features, with the only drawback being that demo account holders cannot preview it without funding a live account. Check out my full review of eToro to learn more.
Integrated TipRanks TV - Interactive Brokers
Interactive Brokers, a highly trusted multi-asset broker, offers the widest array of third-party research in 2024, so it’s no surprise they also offer a robust and unique TipRanks integration.
Interactive Brokers has taken a video-dominant approach to its integration of TipRanks in the Trader Workstation (TWS) desktop platform and IBKR mobile app. TipRanks news headlines link to relevant video content in a way that is interactive and easy to consume.
This approach is a bit different from what you will usually find with TipRanks, but will certainly complement the dozens of third-party providers that IBKR also offers within its platforms to help with your market analysis. Read by full review of Interactive Brokers for a more in-depth exploration of its platforms.
Comparison of Forex Brokers that integrate with TipRanks
As with any tools from third-party developers, there are different approaches that brokers may take when integrating tools such as TipRanks, like selecting different widgets to provide from the list of available ones that TipRanks offers. Probably the most important decision for a broker is whether to provide it as a standalone platform, a custom integration (the most demanding), or offer a simple plugin for MetaTrader (the easiest).
Among brokers I’ve tested that offer the service, I’ve found that eToro and IG have the best integration of TipRanks in terms of aesthetics and functionality.
Advantages of using TipRanks for forex market research
TipRanks has grown significantly in recent years by expanding its software suite of tools with additional features and widgets designed to help traders analyze markets and find trading opportunities.
While TipRanks doesn’t yet cover forex as an asset class, many forex brokers offer multiple non-forex asset classes that TipRanks does cover where it can make sense to use TipRanks to complement your research process.
If you only trade forex then TipRanks won’t be as useful for you, but if you are also trading stocks or crypto from a forex broker that offers TipRanks, then it could be an advantageous tool in your arsenal due to its market screeners, advanced sentiment analysis, and plugin for MetaTrader.
FAQs
Is TipRanks worth it?
Yes, TipRanks can be worth your time if used correctly and in a balanced manner alongside your trading strategy. Tools like TipRanks can add rationale to your trading decisions and help you develop a better understanding of market expectations. Traders can benefit from TipRanks features, such as their Analysts' Consensus, economic calendars, Daily Insights, Smart Portfolios, and their Expert Center. These features can be a great addition to your trading toolkit, but it’s important to remember not to overly rely on any single trading tool. You should always use trading tools to complement your existing analysis as part of a well-rounded approach.
Note: When using TipRanks through a forex broker, you won't have to pay for the service directly. That said, the range of features that TipRanks offers may not always be available at supporting brokers that offer TipRanks, as it will depend on their specific integration. For instance, the following calendars and calculators from TipRanks are usually not included at brokers that offer TipRanks, and are available only on the TipRanks website:
- Dividend Calendar
- Earnings Calendar
- Economic Calendar
- IPO Calendar
Additional features may only be available to premium or ultimate subscribers, like the following:
- Content Package (News & Analysis, and member-only events)
- Daily Insights (Analyst Ratings and Insider Trading)
- Data Export (PDF, etc.)
- Email Alerts
- Expert Center
- Investment Ideas (Trending Stocks and other curated lists)
- Research Tools (Screeners and Calendars)
- Smart Portfolio
- Stock Analysis Tool (Smart Score, Ratings, Price Targets, Risk Factors, Opinions, Sentiment, etc.)
How accurate is TipRanks?
Many of the data points that TipRanks uses are unique to its database, including from analysts who help contribute to the crowdsourced data that TipRanks provides. This analysis can include over 130 financial news providers among other sources which TipRanks deems to be reliable.
Considering the hundreds of thousands of data points generated each day by providers like TipRanks, even the best media sites can occasionally produce inaccurate data, but this usually represents a very small percentage of their overall output.
I am not aware whether TipRanks publishes such statistics, and like any news source - including for trading ideas and signals - the accuracy of any sentiment or price forecast will depend on the timing of when you view the data, how it is consumed, and any resulting performance. I don’t believe that reliability should be a concern, but traders must be prudent in not overly relying on any one piece of data, whether it be a sentiment score, technical analysis, or trade signal recommendation, regardless of the provider.
timerTimeliness Matters:
A sentiment value can be relevant when it is created but could become stale if not subsequently updated on more recent data points, and thus many forms of news can quickly become less actionable as the market has already factored in this information.
What countries are TipRanks available in?
Are tips from market research sites useful?
The usefulness of any market research you consume will depend on several factors, including the quality of the data and analysis, any provided forecast, and how the underlying asset performs. There are so many factors at play that a useful investing tip in one context could be useless in another. It all depends on if it is immediately relevant to your trading situation. When I am using a service like TipRanks, it will be to find opportunities or to gain insights into an opportunity that I am already considering.
For example, I might be considering entering the market for a trade on a given asset class and use analysis and research information from a service like TipRanks for additional confirmation on whether to make the trade or not, depending on the strength of the signal.
The best brokers for market research provide high-quality content and actionable information in a timely manner so that you have a better chance to act on it for potential benefit. That said, tools like TipRanks, in conjunction with research and trading tools available at your broker should be used as part of a well-rounded trading methodology that includes proper position sizing and risk management.
What does TipRanks offer forex brokers?
While TipRanks doesn’t yet cover forex it already caters to multiple forex brokers and a variety of asset classes that those brokers offer via its widgets and API suite. Its API suite includes market data & research, idea-generating tools, news, calendars, MetaTrader, portfolio tools, and content related to ETFs and crypto.
How brokers approach integrating these features can vary but I expect to see TipRanks roll out more tools for brokers to use as there is much more available on the TipRanks website than what most TipRanks-enabled brokers offer in terms of widgets and functionality.
Now that you've seen our picks for the best forex brokers for TipRanks, check out the ForexBrokers.com Overall Rankings. We've evaluated over 60 forex brokers, using a testing methodology that's based on 100+ data-driven variables and thousands of data points. Check out our full-length, in-depth forex broker reviews.
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