Locating Reliable Sources of Forex Information

If you have ever tried to research or review a Forex product, then you probably spent significant time scrolling through the internet desperately searching for reliable sources. In addition, you probably waded through the immense number of sites advertising an ocean of products such as Forex software, Forex trading strategies, robots and courses, etc.

Did you spend much time wondering which of the many descriptions and reviews were genuine? How could you differentiate between what is true and what is scam? You must have certainly noticed that a product was ranked in the top ten, for example, by a site whilst ranked outside the top hundred by another.

Unfortunately, many of these sites are owned by affiliates who select their top products based on their levels of commission. As such, their product descriptions are practically meaningless and are even bordering on scam in some cases. Just to be fair, this is not the case across the board and there are many sites that do provide reliable and accurate information and reviews of the various Forex service providers.

If you are trying to use the internet to locate a good Forex product, then you will have difficulty if you depend on this method. Your main problem is that you just cannot take at face value any product, review, description or ranking that is written on these websites.

Basically, you need a secondary confirmation about the validity of these information sources. You can attempt to achieve this by visiting Forex forums that are dedicated to discussing your products of interest. You should be able to find some because the internet is inundated with them. Hopefully, you will be able to read about other traders’ experiences concerning your items and their associated websites.

However, you must again beware because many affiliates have invaded these forums as well and distribute their very biased opinions in order to promote their own items. In addition, you will notice that there are many more negative comments than positive ones which again makes the task of deciding what the truth is even more difficult. This is because it is hard to distinguish the genuine negative reviews from those produced by affiliates rubbishing the product in order to promote their own.

So, how can you extract yourself out of this quagmire? You basically need to locate individuals or entities that have acquired reputations that you can trust. You can do this by creating a database containing all the websites and forums that you visit and monitoring them constantly over a period of time.

You may then be able to detect a pattern that could help you target those whose opinions are well-regarded by others. If you are able to achieve this task, you could then focus your efforts on their viewpoints.

Another method would be to search for organizations that release Forex news articles and reviews on a regular basis such as daily. You can have more confidence in their opinions especially if you can confirm that they have a deep concern for maintaining a good reputation. If so, you will be able to place more faith in their articles because they will then have a loathing to be associated with unsubstantiated opinions. At present, I am using the daily forex outlook news letter from MF Global as a rough guide when I trade.