Best forex trading tools & guides

The essential websites every trader should bookmark — Forex Factory, TradingView, FTMO, Funding Pips, XM and more — with what each one is for and exactly how to use it. Hand-picked by the FXLiquidityHub team.

In-depth guides

Deep-dive tutorials for the tools that matter most — written for traders, built for Google.

All tools

Forex Factory

The industry-standard economic news calendar and forex community. It tells you exactly when market-moving news will hit, so you can plan around it.

How to use it
  • Set your timezone (top-right) so event times match your clock.
  • Filter to your pairs’ currencies and “High impact” (red folder) only.
  • Block a no-trade window ~15 min before and after red news — spreads widen and stops get hunted.
  • Either stand aside, or trade the momentum once price picks a clear direction after the release.
  • Watch Actual vs Forecast — a big surprise is what drives the move.
Tip Red folders move the market; grey folders rarely matter.

TradingView

The most popular web charting platform — clean charts, hundreds of indicators, multi-timeframe layouts, alerts and shared trade ideas.

How to use it
  • Build a watchlist of the pairs you trade (XAUUSD, EURUSD, GBPUSD…).
  • Mark your SMC levels — order blocks, FVGs, liquidity — and set price alerts so you don’t stare at screens.
  • Use a multi-pane layout for top-down analysis (Daily → 4H → 15m).
  • Use Bar Replay to backtest a setup before risking money.
Tip The free plan is enough to start; alerts are the highest-value feature.

FTMO

One of the most established prop firms. Pass a two-step evaluation and you trade a funded account, keeping up to ~80–90% of the profit.

How to use it
  • Pick an account size you can trade calmly — start small.
  • Respect the daily loss and max loss limits above everything else.
  • Hit the target without breaking rules — consistency beats big days.
  • Read the news-trading and weekend-holding rules before you start.
Tip Risk 0.5–1% per trade so one bad day never ends the account.

Funding Pips

A fast-growing prop firm popular for low-cost challenges and quick payouts — a cheaper way to test whether prop trading suits you.

How to use it
  • Choose a 1-step or 2-step challenge to match your style.
  • Manage drawdown carefully; scale the account as you stay consistent.
  • Treat the challenge fee as the only money at risk.
Tip Lower entry cost than most — good for a first prop attempt.

XM

A large, long-running retail forex / CFD broker used to actually execute trades on your own personal account.

How to use it
  • Open a demo first to test execution and spreads.
  • Choose an account type that fits your size; understand leverage and margin.
  • Check which regulated entity covers your region.
Tip Leverage amplifies losses as much as gains — size by risk, not by lot.

Myfxbook

Independent account-tracking and verification, plus a community sentiment tool and economic calendar.

How to use it
  • Connect an account to verify and share real, audited results.
  • Use the sentiment tool to see how the crowd is positioned (often a fade signal).
Tip Verified track records beat screenshots every time.

Investing.com

A solid alternative economic calendar with quotes, news and filters — handy as a second source alongside Forex Factory.

How to use it
  • Filter by importance and country to match your pairs.
  • Cross-check event times and forecasts against Forex Factory.
Tip A good backup calendar if Forex Factory is down.

BabyPips

The classic free beginner course — the “School of Pipsology” covers the basics from the ground up.

How to use it
  • Work through the school in order if you’re brand new.
  • Pair it with our SMC / ICT lessons once you know the fundamentals.
Tip Great for absolute beginners before you touch a chart.

MetaTrader 4 / 5

The standard trading terminal most brokers support — for order execution, custom indicators and Expert Advisors.

How to use it
  • Download from your broker so the server is pre-configured.
  • Use MT5 for more timeframes and a built-in economic calendar.
Tip Most brokers (including XM) run on MT4/MT5.

Some links are to commercial partners (prop firms / brokers). Always do your own research and read the rules before depositing or paying a fee. FXLiquidityHub is educational and not financial advice.

How to trade the news with Forex Factory

The single most common beginner mistake is getting caught in a red-news spike. Here’s the safe workflow:

  1. Open the Forex Factory calendar and set your timezone.
  2. Filter to High impact events for the currencies you trade.
  3. Mark a no-trade window from ~15 minutes before to ~15 minutes after each red event.
  4. Let the first spike happen — it usually hunts stops both ways. Don’t chase it.
  5. Once price chooses a direction and a clean structure forms, trade with that move using your normal risk.

Frequently asked questions

What is Forex Factory used for?
Forex Factory is best known for its economic news calendar. Traders use it to see exactly when high-impact news (like NFP, CPI and interest-rate decisions) will be released, so they can avoid trading into volatility or plan a news-based trade.
Is TradingView free?
Yes. TradingView has a capable free plan with real-time-ish charts, indicators and a limited number of alerts. Paid plans mainly add more alerts, more indicators per chart and second-based timeframes.
What is FTMO and how does it work?
FTMO is a proprietary trading firm. You pay for a two-step evaluation (Challenge and Verification); if you hit the profit target without breaking the daily and maximum loss rules, you get a funded account and keep up to about 80–90% of the profits.
Is Funding Pips legit?
Funding Pips is a well-known prop firm popular for low-cost challenges and fast payouts. As with any prop firm, read the rules carefully and treat the challenge fee as the only money at risk.
Is XM a good broker for beginners?
XM is a large, long-established retail forex and CFD broker often used to execute personal trades. Beginners should open a demo first, understand leverage and spreads, and check which regulated entity covers their region.
Which of these tools do I actually need to start?
At a minimum: TradingView for charts, Forex Factory for the news calendar, and either a personal broker account (e.g. XM) or a prop firm (e.g. FTMO or Funding Pips) to trade. Everything else is optional.

Risk warning & disclaimer. Trading forex, gold (XAUUSD) and CFDs carries a high level of risk and may not be suitable for every investor. Leverage can work against you as well as for you. Past performance and any signals, analysis, levels or strategies shared by FXLiquidityHub are for educational purposes only and are not financial advice or a guarantee of future results. Never trade with money you cannot afford to lose, and seek advice from an independent, licensed financial advisor if needed. You alone are responsible for your trading decisions.