In our Forex.com review 2020, we will try to comprehensively consider all the events and trends of the most popular trading market. The Forex market is the world’s largest financial market, with a daily turnover in trillions of dollars.
The role of the US dollar in modern Forex trading
Most of the deals in the Forex market in 2020 are carried out with currency pairs that include the US dollar.
National currencies of the leading economies paired with the dollar – major currency pairs – are traditional of great interest to traders. The Euro, British Pound, Japanese Yen, Swiss Franc, Australian and Canadian dollars are among the most actively traded currencies against the US dollar.
In international transactions in 2020, the share of the US dollar is over 88%. The next most popular currency “Euro” is significantly inferior in terms of participation in transactions – the share of the European currency is within 37%. Next come the Japanese yen (about 17%), the British pound (15%). The Swiss franc, Australian dollar, and Canadian dollar are even less commonly used – less than 10%.
Forex.com review 2020
The global pandemic and the Forex.com market
The COVID-19 pandemic certainly makes adjustments to all areas of human activity. This fully applies to the stock exchange industry. So, at the beginning of the global epidemic, the dollar was rapidly falling, the euro was growing, the peak came at the time when 100 countries recorded the coronavirus, then the dollar began to strengthen after 400 thousand infected people were recorded, a reversal occurred again, etc.
As part of this Forex.com review 2020, it can be noted that key news on coronavirus in 2020 (the introduction of lockdowns in different countries, the development of a vaccine, etc.) significantly affects the Forex market and can serve as a kind of signal that there is something on the market now. it will happen, but it is impossible to predict what will happen.
Best brokers app
Best trading platform 2020 – Metatrader
For many years now, the best brokers app award has been confidently received by the MetaQuotes developer product – MT4 and MT5. These platforms combine functionality and capabilities, relatively convenient visualization of graphics, simplicity. Despite the seeming oversaturation of tools, to work at the user level, a person will need 3-4 hours of typing with little tips from Google.
Best brokers platform
Best web platform 2020 – LiteForex
Best brokers platform of 2020 is a built-in LiteForex platform integrated into the Personal Account. Unlike MT4, everything in it is clear literally from the very first minutes. The developers were able to offer not only a simple and convenient terminal with an optimal set of functions (in places for the convenience of duplicating) but also an intuitive interface.
For novice active traders and passive investing, the Forex LiteForex trading platform is an ideal option.
Best analytical trading portal 2020
There are two contenders in this category, each of which is convenient and useful in its own way (depending on the goals):
– Investing.com. Free analytical portal with a traffic of about 15 million unique users per month, which publishes information about the foreign exchange, stock, and commodity markets of the world with a focus on professional traders. The site has every second updated chart of many assets (including specific exotic), various auxiliary tools (stock screeners, calculators of volatility, profitability, pivot points), etc. Here you can find everything a trader might need, including a detailed Forex.com review 2020.
Best online broker app
– Tradingview.com. A platform for technical analysis and a social network for traders, where everything from scripts to analytics is available. In terms of usability, functionality, and tools, the platform easily bypasses the best online broker app MT4. Concerning the publication of analytics, the requirements here are less strict than those of Investing, therefore the information needs to be filtered (it is subjective and does not always correspond to reality). But users of the site are ordinary traders and people interested in economics, ready to discuss any financial idea.
Best Trading Indicator 2020 – TD Sequential
The classic trading indicators based on different types of averaging are being replaced by new generation Forex technical analysis tools, which include TD Sequential. It shows the completion of local trends, helps to determine the trend decay and the moment of the reversal.
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