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Forex Factory | A Complete Beginner’s Guide (2023)



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Forex factory has been dubbed by many as the ‘Forex Wikipedia’ because it’s the go-to place for fundamental news events. It’s critical for those who trade Forex news and market announcements. The Forex Factory platform facilitates and aids traders with their forex trading. 

The Forex calendar provided by Forex Factory is very easy to use for all types of traders. The calendar keeps the news-related info ready to help you out in advance. You can go through different tutorials just to understand how to get the best out of the calendar and how you can manage them to aid you with creating a fundamental bias on each currency you are looking to trade. 

Before you can go on and learn how you can grow your trading habits and start earning money from the forex market, you have to recognize the skill of Fundamental analysis is as important as technical analysis. You have to be wise, and also include market Fundamentals in your trading strategy. Fundamental Analysis is all about comparing and analysing one country’s economic data and performance with a second one (or a group of countries in case they share a common currency). Forex Factory is a guide and is considered by many traders as the best forex fundamental news website. Brokers such as EasyMarkets and City Index offer Live news indexes through their interactive broker platforms hence when you are trading live and place trades by reacting to the news. 

A step-by-step guide to using the Forex Factory calendar

As you can understand Forex Factory is an information-based platform. In the initial stages, someone new to the market can find it difficult to grasp certain terminologies and how certain news events impact a particular currency they are trying to analyse (see our Fundamental Analysis guide). You may have heard many times that the forex market and currencies move by the power of technicals (i.e. price action, price level sentiment, support & resistance etc.); but in reality, it’s the fundamental news indicated or governed by a nation’s central bank or government that causes currency prices to either appreciate and depreciate. 

When you’re trying to understand the Fundamental analysis of forex trading; start with Forex Factory. Information presented in Forex Factory is concise, accurate and designed so it can be used by all calibre of traders. Almost every forex trader has a Forex Factory window open in their browser along with their forex broker trading platform (if you don’t have a broker see our guide to help you). Below are key features and guide to using the Forex factory platform:

Step 1) Setup the Forex Factory news calendar

Forex Factory Time Settings

The first step is to set up your calendar. Well, to do so, you will have to register and login into the Forex Factory platform. Once you are logged in, you will have to go to Calendar. This will show you numerous events! News events to be specific! It will be best if you focus your attention on these events. You will be able to find your clock time in the top right-hand corner of your screen. Click on it, to fix the time zone. This is important as all the events shown on your calendar page will work according to your time zone (i.e. the country you live in). 

To set a particular time zone, click on the time shown on the bar and you will have the screen to choose your time zone. Make sure you know your timings well and select the time zone accordingly. If you select the time zone wrong, you might miss valuable news. You can also check for current news i.e. forex factory calendar today by simply clicking on the ‘Today’ button on the left navigation bar.

Forex Factory Calendar

On the ‘calendar’ screen shown above you can switch between dates both historical and upcoming. A great feature is you can backdate fundamental events that happened as far as January 2007, which is approximately eleven years ago. This is a unique feature, especially when you are analysing the impact of a certain news announcement it has on a particular currency, e.g. when FOMC Chair “Janet Yellen” makes a statement it impacts USD (dollar) denominated currencies. 

Step 2) What do the, news events mean?

Forex Factory News

Earlier traders used to keep track of the latest news & events related to trading by keeping an eye on the newspaper, television or other such sources. But things have changed a lot. These days, the trading platforms, themselves, offer traders regular updates related to various news and events and Forex Factory is not at all an exception. 

Forex Factory Economic Calendar

It’s important to match the news event that is correlated with the currency you are about to analyse. For Example, FOMC updates and news will impact only USD dollar-denominated currencies such as Eurusd, Gbpusd & Usdjpy to name a few. To make sure you do not have to go through a heap of unnecessary news and can find the right one very easily by using the filter. As shown above, you can read the related stories in order of the most current first. When you expand the folder icon, every news term has a definition which is indicated by the subheading ‘measures’.

Step 3) How to use filters?

Forex Factory Filter

Since most of the news does not affect the market big time, you have to know how to filter them to ensure the right news is on your dashboard. To do so, you have to click on the ‘filter’ button. You can find it in the right-hand top corner. It will give you the option to choose the kind of currency and types of events you wish to be informed of. You have to choose to view only those news events which may have a high impact on the market. Tick the red and orange boxes to receive only high and medium-impact news events. Once done, you can save the settings so that whenever you open your Forex Factory app, it will show you the same priorities.

  • Red Flag – High Impact
  • Orange – Medium Impact
  • Yellow – Low impact

Red flag events have to be noted as they are High Impact and by high impact, we mean increased trading volume and volatility to be expected around the timing of these events. Normal guidelines are that you should be wary of volatility at least 20 minutes before the scheduling of the event. 

Step 4) What events are essential?

So, you are all set to use the filters right? But which events do you choose to filter? Although you have the option to choose the high and medium-impact news events and they will be automatically on your dashboard; you have to understand which of those events will be important for you. Not all the events marked as important or impact news will be important for you, so it’s highly suggested to check well and then proceed to trade.  

You can filter by events and it’s simplified into groups such as Growth, Employment, Housing, Inflation etc. Another top feature is you can look up news announcements for individuals or multiple even groups across multiple currencies.  

Using the trading forum or known as ‘Forex Tips Forum’

The trading forum is an indispensable part of Forex Factory and as a beginner trader, you cannot ask for more. Unlike other forums, people here are helpful and are ready to help beginners with all the resources and materials that they need for their trading. You have to understand one thing very clearly, to learn, you must read. There are plenty of valuable posts on the Forex Factory forum, specially written for beginners and going through them can certainly help you learn a lot. 

Becoming a member

Activate your account and join the vibrant trading community of Forex Factory! Here, you can share ideas with other traders as well as access any posts related to your interests. Aside from connecting with fellow members in this forum, registering also comes with plenty of benefits such as being able to view new threads and updates regularly so that you’re always on the top-of-the game when it comes to staying informed about the latest news surrounding the forex industry:-

  • You will be able to post freely your trading ideas
  • Other members can subscribe and also become buddies
  • You will be able to submit your own stories under the news section
  • Create a new trade explorer
  • Subscribe to certain stories, members, or threads that you think are important, thus making sure to get updates on them.
  • Chat with other experienced members over private message
Forex Factory Forum

Since this is a forum, you might be worried about forum privacy. Well, they have strict privacy rules and you should have no issues with the rules that they have set:

  •      They won’t be selling your activity or information
  •      No one can buy the email id that you submit to them
  •      Data deleted from Trade explorer will not be retained
  •      Data once deleted from private messenger won’t be retained

Which Fundamental news event to look out for

There are a few prefixed events that you should have your eye on and that are certainly going to have an impact on the market.  

  1. FOMC-related news- This impacts the USD or dollar-denominated currencies
  2. GDP related news
  3. Central Bank announcements e.g. Interest Rates– Most common are Central bank announcements e.g. Bank of England (affects GBP), Federal Reserve (affects USD), European Central bank (ECB affects Euro) & Reserve Bank of Australia (affects AUD)
  4. Unemployment rates- Non-Farm Payroll or NFP is the highest-impact news event regarding employment change in the United States. This occurs on the 1st Friday of every month.
  5. Housing
  6. Manufacturing
  7. PMI

Points to remember when using the Forex Factory Forum

  • Since this is a trading forum, your posts should be related to trading and nothing else. This will make sure you and your fellow members will also get valuable information regarding trading.
  • While you are here to trade and win money, some other people might be looking to do the same. Well, you have to understand that you can’t pose any ill mentality towards them or behave in the wrong way.
  • Do not provoke anyone using their nationalism or race. It is essential to understand that you cannot abuse or pose an inappropriate comment just because your trading competitor is from a different race or maybe from another country.
  • Do not spam the forum as it may cause disqualification. You mustn’t post duplicate content or keep bumping your post. 
  • Do not get involved in different schemes, MLM, or signal services. 

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