Looking to learn all about Forex? If you are new to Forex trading, you will want to learn as much as you can about how to be profitable in Forex. There are many courses offered these days by both Forex brokers and independent trading courses geared to both novice traders and professional Forex traders. DailyForex has reviews of the top Forex courses on the internet listed below. Also, you might want to take a look for those that provide weekly trading webinars so you can learn from Forex experts together with other Forex traders.
Tradenet
In SummaryTradenet is the brand name of Tradenet Capital Markets Ltd., active since 2004 as a day trading training school.
Pros & Cons
- Structures courses, including dedicated equity and cryptocurrency packages
- An introduction course consisting of seven short videos for free
- Relatively high costs ranging between $500 and $9,000
- Requires phone number to register
- Trading challenges offered that can promote poor trading habits to win the cash prize
Market Traders Institute
In SummaryPros & Cons
- 48 courses and MT4 EAs cater to various trading strategies
- Four live trading rooms offer access to four trading strategies
- Ensures that traders understand the psychology of trading
- Financing via PayPal is available to increase affordability
- Old-school marketing tactics focused on selling products and services
Forex School Online
In SummaryPros & Cons
- Free education without a marketing team selling paid-for courses
- Well-written content with detailed explanations
- Actionable trading signals available on the website without registration
- Fresh content tailored to market conditions rather than static content
- Presentation is often a long down-scroll
Trading Academy
In SummaryPros & Cons
- Free seminars and educational resources for beginners
- Seven well-structured courses with detailed lesson plans
- Proprietary educational, analysis, and trading platform
- Blog with quality content covering a wide range of trading topics
- Extended learning costs $13,750, making it the most expensive Forex educational provider
What Is Forex Trading?
Forex trading refers to buying and selling currencies for financial gain. The Forex market is the most liquid financial market globally, approaching a daily turnover of $7 trillion. It is decentralized – direct trading between counterparties, unlike equity trading, which occurs on centralized exchanges. A vast network of banks, brokers, and financial institutions are active in the Forex market, which operates 24/5. Despite lower capital requirements than other asset classes and easy access to the Forex market, Forex trading as a profit generating activity is a highly skilled profession. Therefore, an in-depth education on how the market works and how to trade properly is always the critical first step for beginners.
Is Forex Trading a Good Idea?
Forex trading is appropriate for those who approach it with the right mindset, have invested time gaining an in-depth education, and have the proper trading infrastructure and conditions. It is an ideal career choice for traders seeking financial independence and flexibility. Forex requires less start-up capital than equity trading, but 80%+ of Forex trading volume is algorithmic, potentially placing manual traders at a notable disadvantage.
Are Online Forex Trading Classes Worth It?
That is something each Forex beginner must evaluate depending upon their individual situation. One good measurement is if the capital invested in an online Forex trading course delivers on its educational promise and has met your expectations. Many profitable Forex traders began with free education and learned largely via trial and error, viewing inevitable trading losses as part of the price of their education.
Searching for education, trading, losing money, and learning is an invaluable experience for novice traders. A paid-for Forex trading course may eliminate some of the guess work, but it could also deprive beginners of the lessons they could have learned from their mistakes which tend to stick more in the mind. There are many ways to trade Forex profitably, and one of the best pieces of advice is to use strategies that work for you and suit your approach to markets and risk and not copy simply what might work for someone else. Therefore, the value of paid-for Forex courses remains something everyone should consider regardless of their ambitions, capabilities, and preferences.
What Do Online Forex Trading Classes Cost?
Forex trading courses range from free to a few thousand dollars and are delivered over a range of timescales. The overall cost depends on what is being sought by the potential client are they a complete beginner or have they got some experience and are looking for more specialist knowledge. There is a good deal of excellent in-depth educational content available for free, as written and video tutorials, eBooks, podcasts, webcasts, and interactive lessons with quizzes. By utilizing these resources, you can lay a deep educational foundation necessary for successful Forex trading. Some Forex brokers make available free, quality education for beginners, as they profit when their clients grow their portfolios. Several companies provide exceptional free Forex education to improve the health of the Forex market.
Beginners seeking sound Forex education should never have to pay for it, as most content Forex mentors cover is available for free. The value proposition of paid-for Forex trading courses comes from active trading communities and trading chat rooms and of course you do not have to seek out the educational material yourself. Forex education is an ongoing journey, some Forex traders really thrive in a community setting where they can share and discuss trading setups and macroeconomic events with likeminded peers.
Some value the experience and expertise of Forex mentors, but beginners should understand that what works for one successful Forex trader may not suit another. While copy trading ranks among the most popular Forex trading approaches, it is almost impossible to copy the success of professional Forex traders. Learning from their expertise and principles around for example their approach to risk management is a more useful takeaway for students. This is one reason Forex trading courses with a community and access to mentors can be of benefit to Forex traders.
How We Chose the Best Online Forex Trading Courses
We reviewed dozens of Forex trading courses based on eight key criteria, ignoring the marketing tactics deployed by some to confuse retail traders. We have ensured a comprehensive approach to identifying the most valuable online Forex trading courses.
Here are the eight criteria used in our research:
- Reputation of founders, their experience, and their relevant expertise
- Costs of the available Forex trading courses on offer
- Training methodology and curriculum covered.
- Access to mentors or instructors for students
- Availability of a trading community and their activity levels
- Depth and breadth of educational content
- Free beginner courses or course materials to support learning
- Value-added additional services
We chose the above eight criteria based on our knowledge of the typical requirements for beginner Forex traders looking for a high-quality educational course. Please note that not all categories carry equal weight in our ranking. For example, the founder’s reputation, experience, expertise, costs, and depth of knowledge covered in Forex trading courses are a higher priority than value-added services or free course materials.
Forex.com Trading Academy
The Forex trading courses by well-established Forex broker Forex.com offer beginners high-quality education for free.
Pros | Cons |
|---|---|
Free education without registration | Only written content |
Well-structured lessons | No trading community or access to mentors |
Quality introduction to various topics | |
Demo accounts |
What will you learn at the Forex.com Trading Academy?
Beginners will get an introduction to the basics of Forex trading, but more in-depth subject content is unavailable.
Which Forex trading education packages are available at the Forex.com Trading Academy?
Forex.com education is free and structured into three tiers, beginner, intermediate, and advanced.
Admiral Markets Forex 101
Admiral Markets created this Forex trading course after running its successful Forex education campaign Zero to Hero.
Pros | Cons |
|---|---|
Three categories with three lessons | No trading community |
Easy to understand basic introduction to Forex | Lacks a real in-depth educational content |
Concludes each lesson with a quiz. | |
Demo accounts |
What will you learn at Admiral Markets Forex 101?
Only a basic introduction to the core Forex topics is available.
Which Forex trading education packages are available at Admiral Markets Forex 101?
Forex.com education is free and structured into three tiers, but the overall educational depth of content remains overly simplified for more experienced traders.
Guerrilla Trading
Beginners get 57+ hours of video lessons with 100+ hours of related content from this UK-based Forex education provider.
Pros | Cons |
|---|---|
Well-structured educational lessons and back testing tools | Paid-for education for advanced beginners |
1-on-1 coaching, forecasts, and recaps | |
Active community | |
Free educational resources |
What will you learn at Guerrilla Trading?
Guerrilla Trading strategies are based on pure price action without using popular indicators, also known as naked trading. It includes two trading systems created by its founder.
Which Forex trading education packages are available at Guerrilla Trading?
Guerrilla Trading offers numerous well-structured packages from its tutorial library, plus a lifetime membership for £499.
Learn to Trade
Australian-based firm Learn to Trade aims to help beginners unlock the potential of the Forex markets using low-frequency trading.
Pros | Cons |
|---|---|
on-1 coaching | Heavy use of marketing language |
Free Forex workshop | Casino and gambling content |
250,000+ since 2003 | |
Experienced mentor |
What will you learn at Learn to Trade?
Learn to Trade lists four Forex trading strategies, which all work on the H4 and D1 timeframes. It also includes a lesson on momentum trading.
Which Forex trading education packages are available at Learn to Trade?
Traders should consider the free package, as Learn to Trade does not list its prices.
FX Academy
FX Academy presents a well-structured and interactive Forex education. It will help beginners shorten the learning curve and become successful Forex traders.
Pros | Cons |
|---|---|
Free, high-quality Forex education | No trading community |
Interactive courses consisting of written content, videos, and quizzes | |
Excellent course structure | |
Cryptocurrency content |
What will you learn at FX Academy?
FX Academy covers the Forex basics and some more advanced trading strategies, offering a well-balanced educational approach.
Which Forex trading education packages are available at FX Academy?
Traders have fifteen courses to select from, and the FX Academy adds new, carefully crafted lessons on a regular basis, which include topics relevant to traders as financial markets evolve.
Bottom Line
Many beginner traders underestimate the commitment, dedication, patience, and capital successful Forex trading requires. Countless marketing campaigns exist, sometimes by brokers, attempting to convince first-time traders how easy Forex trading is. While starting Forex trading is simple, trading Forex successfully is something which a vast majority of traders fail to achieve.
Top Forex courses may benefit some beginners who prefer to learn in a classroom-style setting with a mentor but ignore the saying: “Those who can, do; those who can’t, teach.” Before traders rush to online classes, webinars, and seminars, they must understand that most of the content in paid-for Forex trading education exists online and does not cost anything.
The final decision depends on the individual and their preferences. Beginners can source high-quality Forex educational content for free online, making paid-for top Forex courses teaching manual trading in a market dominated by trading algorithms a decision to consider twice.
