Forex Bench Mark

Forex Bench Mark Logo

Developed by a team of German programmers, Forex Bench Mark is a very detailed trading website that is dedicated to the unbiased comparison of forex brokers, forex expert advisors (EAs) – also known as forex robots and tools to assist with technical, fundamental and sentiment analysis.

The Forex Bench Mark website contains a wealth of tools and information such as detailed EA reviews, key analytical information, informative educational articles and trading tools/widgets.

Forex Bench Mark puts great emphasis on transparency which is something that is very important in the forex industry. The articles, reviews and comparisons that they conduct and publish freely on their website can help analyse broker conditions (spreads, slippage, commission, etc) and EA performances.

Amongst the key features of the Forex Bench Mark services are:

  • Intuitive comparison tools for analysing different broker conditions
  • Thorough expert advisor (EA) real live tests
  • Detailed expert advisor (EA) reviews
  • Advanced Quant Analytics
  • Educational articles
  • Trading tools/widgets

What I personally believe stands Forex Bench Mark apart from most other trading software related websites is the amount of advanced analysis they produce. Whilst most will simply publish statistics, they have taken it that step further by offering advanced quant tools to assist with trading research.

Twitter Sentiment

This tool uses twitter posts to establish the overall market sentiment. It analyses tweets and categorises them into buying or selling signals. A value of +1 means that 100% of analysed tweets are bullish whilst a value of -1 means that 100% of tweets analysed or bearish. E.g. A value of +0.7 would mean that according to the Forex Bench Mark twitter sentiment tool, 70% of tweets suggest a buying sentiment. The main FX currency pairs such as the GBPUSD & EURUSD are included.

Twitter Sentiment ForexBenchMark.com
Twitter Sentiment ForexBenchMark.com

Retail Positions

This section of the Forex Bench Mark website contains very useful sentiment analysis tools.

Total Volume

This displays the total volume of traders for the FX currencies on display. Whereas most tools will display the volume of the currency pair, this shows the currency as a whole across all pairs.

Total Volume ForexBenchMark.com
Total Volume ForexBenchMark.com

Extreme Positioning

This displays the extreme positioning of FX currency pairs, sorted from high to low. This can be useful to look for extreme conditions for contrarian trading strategies. It can also be combined with the twitter sentiment tool.

Extreme Positions ForexBenchMark.com
Extreme Positions ForexBenchMark.com

Market Sentiment

The sentiment table displays detailed information about the sentiment across multiple FX currencies. It will display how many traders are long and how many are short in terms of volume and percentage. It will also show the distance of all open positions from the average price.

Market Sentiment ForexBenchMark.com
Market Sentiment ForexBenchMark.com

Currency Strength

This displays the price deviation from the moving average, calculated in terms of standard deviations (on a daily chart). E.g. a value of 1 means that the currency is on average 1 standard deviation above the moving average on all pairs that contain the currency.

Currency Strength ForexBenchMark.com
Currency Strength ForexBenchMark.com

Fair Value Model

Forex Bench Mark use a linear regression model to display FX Fair Value, updated on a daily basis. The data of the previous month is excluded from the training set and thus a result of the model prediction is based on the following input data: 10Y and 2Y bond yields, inflation, purchasing power parity, gold, copper, iron ore, oil, milk, lumber, S&P 500, and EURO STOXX 50.

FX Fair Value ForexBenchMark.com
FX Fair Value ForexBenchMark.com

Bond Yields

Forex Bench Mark have a section dedicated to analysing bonds. It covers currency pair yield spreads over the short and long term with intuitive tools that can be used to help identify the current economic condition across multiple currencies.

Bond Yield Spreads ForexBenchMark.com
Bond Yield Spreads ForexBenchMark.com

Education

The Forex Bench Mark website has some educational articles covering topics from choosing a trading broker to how to back test using an expert advisor correctly.

Expert Advisors

Forex Bench Mark have a section of their website dedicated to expert advisors (EAs). Within this section, they rank the EAs based on performance and also include a detailed review. They also have their own live accounts running EAs and include a guide on how they conduct the back tests shown within the EA reviews.

Expert Advisors ForexBenchMark.com
Expert Advisors ForexBenchMark.com

Broker Data

Forex Bench Mark have a great range of tools that can be used to analyse brokers data and help see which is providing the conditions that are most suitable to your trading strategy.

Spread Comparison

This broker spread tool shows the different spreads during different times from a selection of trading brokers. You can filter by currency pair, broker, min/max values and date. Historical spread data is also available. This tool could prove very useful if you have a scalping trading strategy that requires as tight a spread as possible.

Spread Comparison ForexBenchMark.com
Spread Comparison ForexBenchMark.com

Swap Rates

This tool displays the historic swap rates from a selection of trading brokers. You can select brokers and pairs to display via the settings button.

Swap Rates ForexBenchMark.com
Swap Rates ForexBenchMark.com

Swap Hedge

This table shows potential combinations of earning positive swap rates by being long and short the same symbol on two different brokers. Swap rates are shown in USD per lot. Swap rates are not guaranteed and can change at any time without notice.

Swap Hedge ForexBenchMark.com
Swap Hedge ForexBenchMark.com

Broker Spread Similarity

The broker spread similarity matric tool displays the similarity and difference of spread data between brokers over the past 5 business days, with a value of 1.0 meaning the spread data was identical and a value of 0 meaning there was a large difference.

Broker Spread Similarity ForexBenchMark.com
Broker Spread Similarity ForexBenchMark.com

Broker Information

This section displays some of the important factors to consider when choosing a trading broker, displayed in a sortable table with filters.

Broker Information ForexBenchMark.com
Broker Information ForexBenchMark.com

Summary

Overall, Forex Bench Mark is a very informative and useful forex trading website with a vast selection of advanced trading tools that can assist with market and broker analysis. This is also complimented by a range of expert advisor reviews/tests and educational materials.

Click the link to visit Forex Bench Mark.