According to research in South Africa, even though Twitter and LinkedIn still remain the most widely used social networks for forex traders, many Forex communities have made their appearance on Facebook. The Facebook format makes it very easy to share different kinds of information, mainly the fact that graphics can be displayed prominently, perfect for publishing charts!
So, what is Facebook?
Facebook is a popular social networking site that makes it easy for users and in this case, Forex Brokers to connect and share with family, friends and traders online. Originally designed for college students, Facebook was created in 2004 by Mark Zuckerberg but by 2006, anyone over the age of 13 with a valid email address could join the Facebook Fad! Today, Facebook is the world’s largest social network, with more than 1 billion users worldwide.
Why use Facebook?
Ever wondered why people like using Facebook? Facebook is unique in its ability to connect and share with a large audience all at once. For many users, having a Facebook account is now an expected part of being online, and because Facebook is so popular, other websites have worked to integrate Facebook in to their platforms. This means users and traders can now use a single Facebook account to sign in to different services across the Web.
Among the Facebook pages that have the largest numbers of ‘likes’, most fall into one of the following categories: brokers, signals providers, online academies, and community forums.
What is the difference between a Facebook Page, Facebook Profile and a Facebook Group?
- Facebook Profile
A profile is a place on Facebook where a user can share information about themselves or their company, such as their interests, photos, videos, current city and hometown.
- Facebook Page
Users must have a profile as mentioned above to create a Page or in order to help manage one. Pages are places on Facebook where Forex brokers, artists, public figures, businesses, brands, organizations and non-profits alike can connect with their fans, customers or in this case traders. When someone likes or follows a Page on Facebook, they can start seeing updates from that Page in their News Feed.
- Facebook Group
As with a page, a user must have a profile to create a group or in order to help manage one. Groups are a place to communicate about shared interests with certain people. Users can create a group for anything including Forex! Here users can customize the group’s privacy settings depending on who they want to be able to join and see the group. When a trader joins a Forex based group on Facebook, they will start seeing content from that group in their News Feed.
The Best Forex Traders and Platforms to Follow on Facebook includes
As the largest social trading network in the world, eToro has been quick to see the possibilities of social media, Facebook in particular. Posts often include conversation-starters rather than promotional announcements, content that is specific to forex trading plus general business and social media-related posts.
Instaforex is one of the largest Forex Brokers globally who largely steers clear of purely promotional posts on Facebook, veering more towards conversation-starters and infographics related to online trading.
This page is a branch of the popular MT5 forum, which largely exists as a social layer for this community for sharing pictures, infographics, and charts, rather than as a replacement for the forum itself.
Profit Forex Signal
Profit Forex Signal is a signals provider for online forex traders which provides tradable suggestions in exchange for a monthly subscription fee. The Facebook page largely shares information about the success of their recent trade suggestions.
Free Forex Signal
Free Forex Signal offers followers actionable trade suggestions for free, and reports their successes via Facebook.
The Indian Forex Forum Facebook page largely consists of shareable memes, currency news, and forum highlights.
Forex Fund International
Forex Fund International is a fund management firm which specializes in forex and their Facebook page doesn’t contain much in the way of content, aside from regular posts containing “words of wisdom” from some of the biggest names in the history of finance, economics, and philosophy.
The Easy Forex page provides regular news updates and discussions in a wide range of languages.
Forex Art of War
As a promotional vehicle for Vance Williams’ Forex Art of War training programme this page is very useful for traders and offers daily insights, videos and analysis from the author himself.
Forex School Online
Forex School Online is a training programme with a specific focus on the study of price action and the Facebook page is a very active community with a deep resource of insights and discussions.
This page is primarily used by FX broker Forex Count to share news, analysis, and forecasts regarding the currency market.
The is a page for the leading US broker FXCM and offers plenty of tips for making better use of their platforms, links to online tutorials, and a liberal application of price charts.
OANDA’s company page is used to drive traffic towards their blog which hosts content including daily and weekly market analysis, strategy guides, and opinion pieces.
Forex.com uses their page mostly to post technical analysis charts pertaining to recent market events, which makes it a useful page for any forex trader to have in their news feed.
Danish investment bank – Saxo Bank offers traders online trading in a wide range of financial instruments including forex and CFDs and has a very active Facebook presence. Their page draws traffic towards market analysis articles and opinion pieces on the TradingFloor website, and spreading the word about the wider activities of the company, its employees, and the Tinkoff-Saxo cycling team.
We have also compiled a list of the best 7 Best Facebook trading pages that every trader needs to follow. Whether a traders is into Forex, stocks, cryptocurrencies or simply want to deepen their knowledge about trading with educational content, this is perfect!
My Trading Skills
Wall Activity Level: High
The My Trading Skills covers a mix of skills, tech, market commentary, tools, lifestyle and industry updates from an experienced Head Tutor, Phillip Konchar.
Wall Activity Level: High
For Traders looking for trading quotes, the Trading Legends’ Facebook page is a great place to be. Over 21,000 people follow this page’s trading quotes from legendary traders, such as Mark Douglas, Jim Rogers, Bill Lipschutz, Peter Brandt and more. The quotes cover topics ranging from trend following to risk management.
Wall Activity Level: High
Stock Twits is a popular trading website where traders share their views on stocks they’re following, and this is the website’s official Facebook page with over 37,000 people already following.
Harvard Business Review
Wall Activity Level: Very High
Perfect for those who are looking for a useful mix of market analysis, business news, live events, and interviews, then the Harvard Business Review Facebook group is a great choice. With more than 3.7 million followers, Harvard Business Review is one of the largest Facebook pages on the platform.
Wall Activity Level: High
Jarratt Davis is an active hedge fund manager who specializes in Forex fundamental analysis, with his page being a great choice for traders who are interested in market fundamentals and longer-term trading.
Trading with Rayner
Wall Activity Level: Moderate
Rayner is a Singapore-based full-time Forex trader with a very active presence on Facebook. His group boasts over 10.000 likes and his discussion-oriented Facebook group is a firm favourite. Traders should take notice that this is a Facebook group and not a page, which means that all traders who join the group can have active participation in posts, analysis and more.
Stock Market Trading and Investing
Wall Activity Level: Moderate
For traders who are into stock trading, this Facebook page is perfect. Here traders will find regular market updates and news, trade ideas and educational content focused on stock trading. Occasionally posts are about other financial markets, such as commodities and cryptocurrencies.
And last but not least – Bitcoin!
Bitcoin is rapidly becoming a topic of discussion in finance, technology, politics and of course – Forex! Unfortunatly it can prove difficult to come across trustworthy information about Bitcoin that’s not from the same Bitcoin websites about the same subjects. A good alternative information source for Bitcoin is Facebook. These groups allow for direct communication with interesting people across the globe who share the same interests.
Just a quick overview before we continue –
Bitcoin is a digital currency which was created in January 2009 following the housing market crash. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments.
How does Bitcoin work?
Each Bitcoin is basically a computer file which is stored in a ‘digital wallet’ app on a smartphone or computer. (Not what you were imagining right?) People can send Bitcoins (or part of one) to a digital wallet or to other people. Every single transaction is recorded in a public list called the blockchain which makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies or undo transactions.
There are two main ways to get Bitcoins:
- Buy Bitcoins using ‘real’ money.
- Sell things and be paid with Bitcoins.
In order to help guide users, we have listed a few Bitcoin groups that traders may want to follow.
Bitcoin – Public group
This is the largest Bitcoin group on Facebook and here traders can find articles, new products, questions, and suggestions on many topics from the Bitcoin community. Spam on this page is not possible because the content must be approved before being posted.
It’s no mystery that the financial capital of the world has an extremely engaging Facebook group. Here traders will be able to information on upcoming events, thought-provoking articles, and information that will aid them if they are a Bitcoin trader. Additionally, traders will find posts from the famous NYC Bitcoin Centre, announcing their latest speakers.
Miami International Bitcoin
Miami International Bitcoin consistently post interesting articles, some famous names traders might see are Bitcoin news reporter Chris Derose and Economics professor Charles Evans.
This group has a very high volume of posts and is a great source of information about cryptocurrency in Spanish. This impressive community is prepared to answer any of its member’s questions and is a perfect example of the wisdom of the crowd.
Why is Facebook such a popular choice with users?
Facebook is extremely user-friendly and even the least tech savvy of people can sign up and begin to post, follow and join in on Facebook. Although the platform started off as a way to keep in touch or reconnect with long-lost friends and far spread family, it rapidly became the top choice for businesses that were able to closely target an audience and deliver ads directly to the people most likely to want their products or services. Facebook makes it very simple for Forex brokers and platforms to share photos, text messages, videos, status posts and more and a regular daily stop for many traders – guaranteed!
What are the Key Features of Facebook?
Here are a few features that make Facebook so popular:
- Facebook allows users to maintain a friends list and choose privacy settings to tailor who can see the content shared on their profile.
- Facebook allows users, be it Forex traders, Brokers or others to upload photos and maintain photo albums that can be shared with their followers.
- Facebook supports interactive online chat and the ability to comment in order to keep in touch with friends plus followers and share information.
- Facebook supports group pages, fan pages, and business pages that let businesses use Facebook as a vehicle for social media marketing.
- Facebook’s developer network delivers advanced functionality and monetization options.
- Users can stream video live using Facebook Live.
Getting started with Facebook is as easy as signing up for a free Facebook account online, adding a profile and cover photo, and searching for people they may know to start of what is known as a friends list.
While the primary purpose of Facebook pages is promotional, in order to draw traffic towards the main site, they are also an excellent sources of content in themselves. By connecting with the most relevant ones, traders can gather a lot of useful information and links to content that they might otherwise have missed out on with a traditional news feed. Facebook doesn’t have size limitations, Facebook doesn’t “hide” away in a corner of a trading layout such as Twitter. For the new generation of traders, who have grown up with technology, Facebook is the most popular website there is and those who use it, use it for not just social networking, but also for keeping up to date with the long list of popular Forex related topics and tips, according to research in South Africa.
Frequently Asked Questions
Why is Facebook such a popular social medium for forex traders?
The format makes it so easy to share all kinds of information – even graphics can be displayed prominently, which makes it perfect for publishing forex charts.
Who are the best Forex Traders to follow on Facebook?
Here is a list of the 27 Best Forex Traders to follow on Facebook
Can you learn forex trading on Facebook?
There are many successful forex traders on Facebook that you can follow and learn from as well as educational tools such as webinars.
Is forex trading gambling?
Because you must risk money to make money there is an element of gambling involved. You are risking losing your money to win money. If you are one of those who trade without knowing how to win then it is gambling.
When was Facebook created?