Categories
Forex Basics

Must Follow Facebook Pages for Forex Traders

If we asked you to guess the most popular social media platform in the United States, what would you say? The unsurprising answer is Facebook, which ranks in the number one spot, followed by Instagram and YouTube. In several other countries, the popularity of Facebook can be exceeded by other platforms, but it usually finds itself in one of the top three spots with more than 2.7 billion users to date. The platform manages to attract different kinds of people from across the world, both young and old. In fact, most of us already have an active Facebook account. If you don’t, it only takes a few minutes to sign up for one and you will likely find that many of your family members and colleagues already have an account. 

Just like with many other popular social media platforms, you can find many different kinds of pages, businesses, and influencer pages on Facebook. Professional forex traders and pages are no exception. If you actively trade forex, you should definitely follow these top trading pages to get the best trading information delivered straight to your newsfeed:

NewTraderU.com

NewTraderU.com is an education-based Facebook page that shares helpful trading information related to quotes and charts with the goal of helping new forex traders to achieve profitability. If you’re looking for a highly active page to follow with multiple posts per day, this is a great option. The page has attracted more than 32,000 followers and contains links to a website, along with an email address where traders can reach the page’s creator Steve Burnson. If you haven’t heard of him, you should know that he is also the founder of NewTraderU.com and has an active Twitter account. 

Harvard Business Review

You don’t have to attend Harvard (or even take a college course at all) to benefit from following the Harvard Business Review Facebook page. While the page isn’t completely dedicated to forex traders, it does host a lot of information and ideas related to business and economic factors that can affect forex traders worldwide. Some articles that are shared can also benefit traders, for example, the page recently posted an article that explains how to stay focused when working from home, which is a common issue for many traders. This is one of the most popular pages listed in our article, with more than 5 million followers and multiple posts each day. 

MT5 Forum

MT5, short for MetaTrader 5, is one of the most popular trading platforms in the world and is offered as a primary platform by a large number of brokers. The MT5 Forum Facebook page doesn’t only focus on the trading platform, however, as it serves as more of an educational page that posts news articles, hot topics, economic data, and forex humor posts that can serve every kind of trader. 

Warrior Trading

The Warrior Trading Facebook page is followed by more than 175k people who communicate in comments on various posts made daily by the creator. The page is linked to a website that offers paid courses to forex traders; however, you can view lengthy videos directly from the Facebook page for free! Topics focus on education, with an emphasis on profitable strategies and morning shows. This is another page you can quickly follow if you’re looking to add more forex content to your daily news feed.

TradeCiety 

More than 31,000 current and aspiring traders are currently following the TradeCiety Facebook page, which was created to entertain and engage traders by providing information related to trading forex and futures. When we glanced over the page, we found an average of one interesting post per day with recent topics focusing on reward risk ratio, webinar opportunities, making small steps to become a better trader, and so much more. Even though there aren’t a large number of posts per day, this page still posts informative information and could help traders learn something new whenever they are scrolling through Facebook out of boredom. 

Stocktwits

Stocktwits typically posts two or three times daily on their Facebook page, along with offering their own app by the same name with even more content. The page was created for traders and investors to share ideas with one another and often shares both funny and informational videos about trading, articles, and other resources that can help traders make smart investment decisions. 

Trading Legends

Trading Legends Facebook page currently has about 23k followers and is known for posting inspirational trading quotes from top traders like George Soros and Martin Schwartz, trading rules, event discussions, and educational videos. The page is fairly active and offers traders a friendly place to communicate with zero tolerance for bullying. The controlled environment creates a great space for beginners to ask questions and get advice with no judgment from their more experienced counterparts. 

TradingwithRayner

The TradingwithRayner Facebook page was created to share new price action trading techniques and strategies with traders. The creator’s main goal is to educate others on these matters in order to save them from learning hard lessons that result in a loss of funds. With more than 17k likes and at least a few posts per day, this is a moderately active Facebook page that shares interesting ideas and informational articles that can help to improve profits for every kind of trader.

Categories
Forex Basics

Read This Before Turning to Facebook for Your Forex Education

Facebook is huge, it has been around for many years now and is the most popular social network in the world right now. Due to its size, it is not a surprise that a trading community has been created around it. In fact, if you simply search for forex, there are hundreds and thousands of groups that come up, from all sorts of things, country specific forex groups, currency specific groups, educational groups, affiliate groups, and pretty much anything else that you can think of. With all of these groups and pages available, is Facebook actually useful when it comes to your trading education? That is what we are going to be looking at today.

The simple answer to this question is yes and no. Facebook has a whole wealth of information that is posted from its various members, but there is also a lot of false information being posted too. We are sure that you have heard of fake news, a phrase made famous by Donald Trump, the saying, unfortunately, has a lot of merits when it comes to Facebook too. While there is a lot of information there, we need to be careful as to what we decide to believe and what we don’t.

With so many different groups it can be hard to find the right ones, a lot of the groups are made up of people simply spamming their own services, with very little discussion about actual trading, or when someone does ask for help their post is simply drowned in the flood of otherwise useless posts from automated profiles and bots.

If however, you do manage to find a group that is good at weeding out the spam, and has an active user base, then you may have stumbled into a goldmine for things like feedback and trading ideas. When you have a group of people who have a similar mindset to yourself, then it is a fantastic opportunity to get some feedback on your own trading ideas, it also allows you to throw ideas about to get some pretty quick feedback from people who are in the same boat. These sorts of groups can help you to get confirmations of your ideas and also counter ideas, which could potentially help you avoid making some bad trades.

A problem with Facebook is that it has become the breeding ground for scams. Pretty much every group that you look at you see people advertising their mentorships, their trading signals, their huge returns on investments, and other various things. You need to remember that if something seems too good to be true, it most likely is, if someone is advertising that they can get you 0 a day for an investment of $10 then there’s probably something just a little fishy about that. The same goes for signals, if they are advertising 100% accurate signals, but you need to join their group or telegram channel in order to get them, then there are two things wrong, firstly no one has 100% accurate signals, and if someone is asking you to join their personal things especially off of Facebook then this should be a warning flag too.

If you do join a group, and you see people advertising their trading software, then this is actually not allowed anymore. Facebook classes all forex software as a “get rich quick” scheme which is now against their rules to advertise. So while there may be some legitimate software out there, it is best not to take the word of anyone on Facebook and certainly not to purchase something that was advertised within one of the groups.

Along with the groups, there are also Facebook pages, which are often from companies, some legitimate and some not but they also include a number of different trading education sites and companies. While they may not actually be offering their services on Facebook, it is a good opportunity for you to work out what different offerings out there are. But again, you need to be wary of the ones that are simply there to try and take your money rather than offering a true service.

So ultimately, Facebook does have a lot of useful information. The problem is that it is very hard to find the groups that are actually useful, with so many bots and scammers about it is a minefield for those that are not up to date on what they need to look out for. If You can find the right groups then it can certainly be helpful at getting feedback and replies from other real traders, but if you cannot, then it is probably best to look for your trading advice and education outside of Facebook on a more dedicated forum or website.