Two rules for tools. First, a tool that does not change a decision you make is entertainment. Second, the free version of almost everything below is enough for the first year — spend on data quality and on your journal before anything else.

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Built herePosition size and pip value calculatorBalance, risk percentage and stop distance in — lot size, pip value and the outcome table out. Runs entirely in your browser.Open the calculator →Built hereForex glossary — 90 termsPlain-English definitions with the qualification attached, searchable and filterable by letter.Open the glossary →

Outside services worth knowing

Charting and analysis

You need one charting package and no more. Pick on data quality and speed, not on the number of indicators.

  • TradingViewBrowser-based charting with a large community library of scripts.Free tier is enough for learning; multiple charts and alerts are paid.
  • MetaTrader 4 / 5The terminal most retail brokers provide. MT4 remains the default for expert advisors, MT5 for multi-asset and better backtesting.Free with a broker account.
  • cTraderAn alternative terminal with depth-of-market display and a cleaner order model.Offered by a smaller set of brokers.

Economic calendars and news

What you need is release time, previous, forecast and impact rating — nothing else.

  • Forex Factory calendarLong-established calendar with impact ratings and revision history.Free.
  • Investing.com calendarSimilar coverage with more filters and multiple time zones.Free.
  • Central bank sitesThe primary source. Statements and minutes come from the bank, not from a summary of it.Free, and worth reading directly at least once.

Historical data

Every backtest inherits the quality of its data. Two sources, compared, or do not trust the result.

  • Dukascopy historical feedTick-level data going back many years, widely used for serious backtesting.Free download, third-party tools make it usable.
  • HistDataFree minute and tick data by year and pair, simple CSV format.Free.
  • Your own broker exportThe only feed that matches the prices you will actually trade.Ask support if it is not in the terminal.

Track record verification

If a track record is not independently hosted, it is a screenshot.

  • MyfxbookConnects read-only to a live account and publishes verified statistics.Free; check that the account is verified, not manually entered.
  • FX BlueSimilar verification with detailed trade analytics.Free.

Journalling and analytics

The unglamorous tool that changes behaviour more than any indicator.

  • EdgewonkDedicated trading journal with tagging and behavioural statistics.Paid, one-off licence.
  • TraderSyncCloud journal with broker import and reporting.Free tier, paid plans for automation.
  • A spreadsheetGenuinely sufficient for the first year, and the only option you fully control.Free. Start here.

Automation and testing

Where a written rule becomes code. Start with the platform your broker supports.

  • MQL4 / MQL5The native languages for MetaTrader expert advisors, with a large code base and marketplace.Free to write; verify anything you buy.
  • Backtrader / VectorBTPython frameworks for research-grade backtesting away from the terminal.Open source.
  • A VPSAny small virtual server near your broker keeps an algorithm running when your machine does not.Cheap; latency matters less than uptime for most retail strategies.

What not to buy yet

  • Signal subscriptions. They remove the learning that the first year exists for.
  • Indicator packs. Every one of them is a transformation of data you already have.
  • Expensive courses with no published track record. Ask for the verified account before the payment page.
  • A faster VPS. Unless you are trading sub-second, latency is not your constraint. Uptime is.

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