So, first things first, what is the Forex Peace Army?
The Forex Peace Army is one of the best possible research resources for you as a trader as a beginner. This organisation can help you best pick out your broker or find a different broker if you would like to switch.
Photo Credit: Forex Peace Army
This organisation is the largest and considered the most accurate database full of Forex reviews completely moderated by humans and not bots. In addition to the reviews, the Forex Peace Army also fills their site with forums, blogs, books, and other information to help best educate you on the world of Forex and Forex trading.
In addition to those resources, the Forex Peace Army also offers currency conversion tools and strategy suggestions to best help Forex traders.
Why is the Forex Peace Army Needed?
Site founder Dmitri Chavkerov saw a major dilemma as he worked with different brokerages. That was in the early 2000s, there was not yet much regulation governing the world of Forex, so fraud against traders was widespread and there had yet to be a site or other system to help warn traders on how “clean operating” brokerages were.
Without sites like this, many traders would be left in the dark and have no extra depth added to the research they could do on a company before choosing them as a brokerage.
After all, reviews are the bread and butter to a great deal of research done by consumers across any service industry or niche. Forex software and Forex brokerages hold no different than other companies in this sense.
People want a preview and to know any potential problems that may occur when interacting with the company.
In addition to taking a sneak-peek into each of those companies’ dealings, the desire to continue education and have learning resources available is a must for many services as well.
These points are precisely why the Forex Peace Army was founded and continues to run strong today.
A Brief History of the Forex Peace Army
The Forex Peace Army today has become much larger and more evolved than when it first started.
In its baby years, the Forex Peace Army was a small list of companies reviewed by site founder Dmitri Chavkerov back in 2005 and was only a list of companies he had worked with and was a simply built five-star rating based review site.
By 2006, the domain got a name change as Dmitri no longer favoured the first and underwent a domain and site migration. The site also got a design overhaul and allowed other users to submit and add to existing reviews.
In 2007 the site got one more domain overhaul, and the purpose behind it changed as well. Now that the domain was changed to Forex Peace Army, the reviews and processes used to evaluate submitted reviews and potential scams changed too.
Through the site’s work at evaluating companies and gathering information from other resources, the Forex Peace Army has built its database to include over 3500 active financial and Forex-based websites for users to pour over to research.
Are There Other Similar Companies and Organisations?
While the Forex Peace Army is based in California within the United States, there are also many similar companies that offer information on potential scams and other learning resources for traders.
- EarnForex– this company is also based in the United States but in Wisconsin. This company is known for the educational resources it offers.
- DailyForex– this is another company similar to the previously mentioned in that it is an extensive resource databank for users.
- BabyPips- BabyPips is a Virginia-based company that prides itself on its educational articles and adds a dash of humour to those articles.
- Forex Edge- Forex Edge features articles written for both education and reviews of other resources, like books, to help traders get further depth before deciding on a learning resource.
- Global Viewpoint- Global Viewpoint is a site compiled of trading chart galleries that list out all the major trading pairs, so traders can get a peek at trends outside of their chosen software.
- FX Street- FX Street offers videos and other educational resources, along with charts and other analysis breakdowns of the market situation.
There are plenty of other companies out there as well, given that Forex has grown so extensively that information is ever-expanding and easily accessible to those interested in trading Forex.