Bloomberg has been dominating the financial market with their Bloomberg Terminal software. These $21.000-a-year terminals provide the financial professional with a way to stay connected and up-to-date with the financial news. Recently we have seen several new competitors entering the market to compete against Bloomberg on this lucrative market.
One of them is Symphony (from Goldman Sachs), which is offered at a price of only $15 per user. However, their software has its focus on institutions as the minimum number of users you have to buy into is 50.
Another new player in the market is Money.net. Money.net has been founded by a former Bloomberg executive and is competing with Bloomberg head-on. It is not cheap at $95/month, but does provide you with all the information you need to stay up-to-date and is of course a lot cheaper than the $21.000 software offered by Bloomberg. And the good thing is, that you don’t need to subscribe with a minimum number of users.
Apart from the fact that Money.net can be customized to present to you specific forex related news, there are several websites that could be of help in addition to Money.net or to replace it. There are loads of forex websites and portals. I will just name a few that I use myself regularly.
- Forex Live is written in a blog form and brings you constant updates in a newsfeed format. They include interbank forex movement news and is a good source for information.
- Forex Factory is the source for the daily financial news event. The FX Synergy trading software I use is linked up to the news events feed of Forex Factory, so I do not have to visit the Forex Factory site to know when specific events are due. However, the Forex Factory website also gives you a lot of background information on the news events and a lot more. Definitely worth a daily visit.
- Myfxbook.com is a personal favorite as I use their system as well to keep track of my trades in a trade journal. The offer a forex news feed, the economic news calendar like Forex Factory offers and more.
- Oanda Volatility Chart is linked to the broker Oanda, but open for everyone to visit. This is not a news link, but the volatility in the currencypairs as presented by Oanda does help to give you a better overall picture of the “emotional” state of the market.