It doesn’t matter whether you are a fundamental analyst or a technical analyst. An economic calendar is highly needed for your trade scheduling if you are a forex trader. Every professional trader uses these tools as a helping hand.
But the irony is that not only newbies but also many professionals face difficulty sorting out the right one from so many economic calendars out there online. That’s why I will review some calendars and finalize the best forex economic calendar.
What is forex economic calendar?
A forex economic calendar is a crucial tool for forex traders to use in their day-to-day trading. It gives them valuable information about what will happen in the market and when it will happen. Of course, many different events affect currency prices, but there are three major ones: interest rate announcements, central bank meetings, and government budgets or fiscal policy changes.
Suppose you are a technical analyst. Then you need to check the economic calendar to become sure whether there are any significant events like NFP or not. If you find FOMC meeting news coming, you can stay away from trading to avoid market uncertainty.
Scalpers make money in ranging markets, so they also need to ensure about the news. thus economic calendar is a must for them
Now it is the turn of fundamental traders. If you are a fundamental trader, then the forex economic calendar is an essential tool you need in your day-to-day trading. You have to analyze the market based on news, speeches, currency inflation-deflation rate. Where do you find this news? you will find these in a world economic calendar
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If you are a news trader and trade based on the news only, then an economic calendar and forex news app are two inevitable tools for you. However, most forex brokers include a calendar on their website. But the problem is their quality. Brokers fail to hold the standard quality of an economic calendar. As a result, sometimes the broker-provided economic calendar’s rate remains very poor.
Although there are hundreds of calendar providers on the internet, Below I am giving a list of the top 5 websites that provide the best economic calendar for forex who stand out from the average crowd. All 5 have the same features like numerous events, sound filtering system, forecast, previous and actual values. But of course, every calendar in my list has particular traits which make them unique and beneficial to traders. If you want to take the best advantage of the forex economic calendar, then I recommend using more than one economic calendar from my list.
Forex factory.com
Forex factory uses icons and abbreviations to explain its legends.
You won’t be able to read the forex factory in other languages except for English. This is because it only uses a three-letter ISO country code to show the origin of the news events instead of the country flag.
If you want to import the forex factory calendar, then you can import the news data on CSV and XML files. Unlike Dailyfx, the forex factory lists only 280 news events per month. Although it lists very few occasions, the listed every event is significant for traders. Therefore, it does not show any unnecessary events in its lists.
For every report and news, the forex factory links it with the official source page.
Forex factory also gives explanations why this news is so important. In addition, it also publishes the next release date of those same events, which makes the forex factory calendar so awesome.
It produces revised values with a yellow sign. When you point your mouse over it, it will reveal the previous value.
Forex factory can detect your local time zone and show news according to this detecting time zone.
If you search for a mobile-friendly calendar, the forex factory will not be a great example. Forex factory is made basically for desktop and laptop-based users.
Forex factory shows the actual values of announcements. In addition, you can see the previous and forecast values pointing mouse on the announcement.
For advertisement, the forex factory has two banners. The side banner and bottom banner. Although the bottom banner is ok to deal with, the side banner is somewhat distracting for the readers. So I have tried to cover what is Forex factory calendar is and all the necessary points regarding it. But if you still have a question about the forex factory, write us your query, I will try to answer it.
Babypips.com
Babypips.com provides thorough information for major events with the source but has no charts and legends. Instead, it uses flags of a country and currency iSO code.
Although babypips displays revised values but only for a few events.
Filtering options are available in babypips which are based on trading sessions, currency, and news impacts. For example, by taking help from the babypips “sessions” filtering option, you could find out Which forex session is most profitable.
Detecting local time is a fantastic feature of babypips. As traders worldwide check babypips for news events so if it doesn’t show local time, then a trader would have to fall into hassle adjusting the time. So babypips automatically adjust the local time display the news according to it. However, you can change the regional schedule settings but temporarily.
If you are a mobile user, then babypips is for you as their website is mobile-friendly.
Dailyfx.com
Dailyfx provides legends but does not use currency ISO code; instead uses only country flags and names. Dailyfx displays charts containing a year’s data. The filtering of Dailyfx is based on impact and country but not event-based.
There are 41 countries in the filtering option; you can select any and check the high-impact news based on that country. the provided countries are
Norway, Philippines, Singapore, South Africa, South Korea, Belgium, Brazil, Canada, China, Colombia, Czech Republic, Denmark, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Israel, Italy, Japan, Mexico, Netherlands, New Zealand, Poland, Portugal, Australia, Austria,
United Kingdom, United States, Russia, Spain,
Euro Area, European Union, Finland, France, Sweden, Switzerland, Taiwan, Thailand
If you want to print out the calendar for more study and research, it is possible to print out the Dailyfx calendar.
If you are Chinese or French, German, or Spanish, Dailyfx has to serve you your language.
IG broker possesses Dailyfx, so, naturally, you will see IG broker’s banner above or below the news. However, you can always ignore this banner.
Dailyfx per month lists approximately 730 + news events. This is huge. As a trader, you should always choose a calendar that includes the maximum number of events.
Dailyfx can detect traders’ time zones, and as it collects computer cookies so by remembering cookies, it will adjust your local time and show the news according to it.
If you use dailyfx, you can even see the next seven days of upcoming news events.
Dailyfx mobile version is not different from its desktop version. Therefore, you would get the same information in the mobile version as in the desktop version.
The fantastic fact about Dailyfx is that you can find the iOS and android system applications in the Play store for the Dailyfx calendar. This one is the best forex economic calendar app found online. if you face a problem finding it from the play store, then get it from here–download free forex best economic calendar app for android
Myfxbook
Myfxbook uses currency ISO code and country flag. However, it doesn’t offer any legend for the calendar. Instead, Myfxbook adds a brief statement of the events and links to the source page.
It shows historical data’s chart vs. forecast values. The most striking fact about myfxbook is that in addition to English, it supports ten more languages. they are Chinese, French, German, Japanese, Polish, Spanish, Latvian, Swedish, Russian, Czech.
One extra feature that makes myfxbook one of the best calendars among 5 shows the remaining time of each event and news. Whether all other economic calendars display only the date and time of the news event. But the remaining time feature is only available in the myfxbook calendar.
Myfxbook displays forecast values and actual values with a line chart.
Collecting data from your browser myfxbook can identify your local time. You can change the time zone settings of the calendar if you are not a registered member of myfxbook.
Again if you are a registered member, then you could enjoy the email notification facility. Before “X” minutes or “X” hours, myfxbook will notify you via email that an important news event is coming. Myfxbook shows the revised value of news events, and On average, myfxbook releases 630 events monthly.
In the myfxbook filtering option, they support more than 35 currencies. those are KPW, KRW, MXN, NOK, NZD, PEI, PLN, QAR, ROL, RUB, IDR, INR, ISK, JPY, SEK, SGD, GBP, HKD, HUF, TRY, USD, and ZAR, ANG, ARS, AUD, BRL, CAD, CHF, CLP, CNY, COP, CZK, DKK, EEK, EUR,
In myfxbook calendar, you will find a top banner ad, side sliding banner ad, and interstitial ad, which is quite disturbing for the readers. However, you can import your myfxbook view through XML or CSV files.
Myfxbook provides a mobile-friendly economic calendar. In the mobile version, you will find almost everything that you see in the desktop version. The only exception between the mobile version and desktop version is you can’t find a specific time of releases of news events. Instead, you will only see the number of days remaining for future release.
Investing.com
investing economic calendar covers the maximum number of news events. The website took the first position among the 5 releasing approximately 1000 news events per month. That’s why it is awarded as the best economic calendar 2022
Investing .com supports a period selector chart which is also scalable. Users can see the announcement date and actual, forecast, and revision data by pointing a mouse over the chart. Although EST/ETD is the default time zone of investing.com, you can change and save your desired schedule by registering it.
Its calendar has legends for primary elements. It also uses both country flags and 3 letter ISO codes of currency.
Investing .com provides the link to the official source of the news and a detailed description of the events.
Most probably, investing.com is the only source where you will find such numerous language versions. All are high-quality translations. You will find investing.com via the following 23 languages. Malay, Polish, Portuguese, Russian, Spanish, Swedish, Hebrew, Hindu, Indonesian, Italian, Japanese, Korean, Thai, Turkish, Arabic, Chinese, Dutch, Finnish, French, German, Greek, Vietnamese all versions are available on investing.com
For advertising, investing.com uses two banners above the calendar. one is on the left side, and the other is on the right side.
Conclusion
To find the best forex economic calendar, I took a look at what traders are saying online. Forex Factory has been mentioned as one of the top resources for those looking to trade off news events. DailyFX is also highly regarded by many professionals and newbies alike who use it for market analysis and timing trades based on global and US economic data releases.
Myfxbook is another popular resource that you can try out, which has an app available if you want more convenience when trading with your mobile device! Investing.com offers live charts so you can see how markets react in real-time whenever there’s a major event happening, such as Brexit or Trump winning the election.
Many traders also use the fxstreet economic calendar, but as it does not fulfill all the criteria to enter the top 5, I have not included it in the list. However, It doesn’t matter what people suggest. The only thing that matters different people use different calendars best suit them among these top listings. So you also should find Which is the best forex calendar yourself. And for the assistance, just consider my list of 5 websites I stated details above.
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