WATCH FOREX ANALYTIX CO-FOUNDER BLAKE MORROW INTERVIEW
Recently we were turned onto Forex Analytix, a news and analysis company. Having been around the industry for awhile we have seen our fair share of these types of services. Typically, they are just some kid sitting in their mom's basement regurgitating real professionals analysis. There is nothing new, exciting, or helpful about their services. So, as you can imagine we were pretty skeptical when a trader turned us onto this service. After trialing the service below are our findings.
Who Provides the Analysis?
The analysis at Forex Analytix is provided by several leading professional traders, Blake Morrow (@pipCzar), Nicola Duke (@nictrades), Grega Horvat (@GregaHorvatFX), Stelios Konto (@bbki2611), and Stelio Voulgaridis (@vulgi). Each has a wealth of trading experience across multiple asset classes, with several traders beginning their careers in the 90's. After reviewing their analysis it is clear that each trader brings a unique approach to the markets. This is in stark contrast to many analysis products where they only provide analysis using one indicator or approach. By having these multiple approaches to the market you are provided with several view points of the market. This information will help you make a more well informed decision when taking trades in your own account.
What Type of Analysis is Provided?
There are 5 sectors of analysis that are provided at Forex Analytix, one for each contributor. The five sectors are Macro Analysis, Candlestick Analysis, Basic Technical Analysis, Harmonic Analysis, and Elliott Wave Analysis. As described on their website, their "Macro analysis looks at the behaviors of an economy or instrument from a very high level." I.E this sector of analysis focuses on the fundamentals behind what is driving the markets. The remaining four sectors revolve around and focus on the markets from a technical approach, with each approaching the markets from a different vantage point. As mentioned in the previous section, with analysis coming from several different sources it provides traders with a host of different ways of looking at the market.
Analysis is provided on the following pairs and products: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD, USDJPY, USDBOK, EURGBP, EURJPY, DXY, XAUUSD, XAGUSD, WTI, S&P500, DAX, 10 year UST, and 10 year Bund.
How is Analysis Disseminated?
Analysis is presented via an online web portal, as well as a mobile application.
The online web portal is a very easy to use interface laid out in a clean efficient manner. They have broken it out into two key pages, Oversight Page (Traffic Light Page) and Analysis Page. At the top of the Oversight Page traders are presented with a full Market Summary that highlights current/upcoming market events. Below the Market Summary section is an Active Ticker section. This section breaks down each pair in detail. It displays the overall market sentiment, key support and resistant levels, and written analysis from each of the analysts. Moving down to the next section Forex Analytix gives potential trading patterns. They provide their entry price, target price, and stop out price. Overall, this feature is excellent for newer traders to see the exact trades professional traders are seeking to take in the market. Below this section they provide full results of their previous trading patterns. This allows traders to look at their past performance to see how certain analysts have been performing.
The next page on the web portal is the Analysis page. This page goes into great detail over all of their analysis sectors. You can hone in on the section that specifically resonates with your trading style, or read all analysis to formulate a combined trading opinion. This section has a tremendous amount of information including key support and resistant levels, economic events that could impact the pair, charts with technical indicators, and a final wrap up or take away analysis. For traders that don't just want a simple overview of a pair, but a detailed in-depth analysis, they will love this section.
Moving onto the Forex Analytix mobile application traders can now have information on the go. Many Forex traders have been moving from a desktop to a mobile device for trading. This can be attributed to increasing hectic schedules and a 24 hour market that gives traders the ability to always be trading. With humans addictive behaviors and constant attachment to their mobile device it is important to companies to have a mobile application for traders. The Forex Analytix application works with both I Phones and Android devices. Unlike some clunky applications, the Forex Analytix application is a smooth running lightweight app that does not bog down the traders device. This is unique because Forex Analytix provides the same detailed analysis on their application as they do on the online portal.
How Much Does it Cost?
As with anything costs factor into the vast majority our traders decision to purchase a product or not. Forex Analytix has several description packages depending on what information a trader is seeking. On the low end Forex Analytix costs $54 a month and on the high end it costs $89 a month. Understanding that this amount of money might be on the high end for some traders they did something to assist those traders. Traders have the ability to receive the full service for only $1 for 10 days. This allows traders to test the service before committing to a monthly fee. In addition to this, they provide a 25% discount if you purchase the package on a yearly basis. Finally, Forex Analytix recently launched a Subscription Reimbursement Program. This program allows traders to pay for their service by trading just as they always do. Traders receive $1 towards the cost of their subscription for every 1 standard lot they trade in the Forex Markets. The only catch is that traders must use one of the brokers Forex Analytix has partnered with. The good news though is that they have partnered with highly regulated and reputable brokers, including but not limited to: Forex.com, Pepperstone, IC Markets, FxPro, Oanda, and ThinkMarkets. Also, the service is only available to Non-United States traders.
Overall, we think this is an excellent program and thoroughly enjoyed our experience testing the product. With their Subscription Reimbursement Program the service becomes very affordable for traders who are doing any sort of volume. If a trader has the full package and pays for it on an annual basis they just need to trade 67 lots per month and the service is free. For the price point in our opinion their is not a better Professional Forex Analysis platform currently available. If you are interested in subscribing to the service you can click on the following link:
If anyone else has tried the service we would love to hear from you. You can leave your own review of the service below. As with everything the more information and opinions made available the more informed someone can be before trying a service. So leave your comments below if you have used the service.
WATCH FOREX ANALYTIX CO-FOUNDER BLAKE MORROW INTERVIEW