One of the most difficult aspects of Forex trading is the fact that there is no real course material used about to teach about the industry, as there are for many other aspects of business world such as accounting, banking and business economics. In fact, if you look at the courses offered by most business schools and universities throughout the world, you'd be hard-pressed to find a single course (let alone a set of courses) that focuses on trading the currency markets as a way to profit as an individual trader or as an advisor. Things may be changing, though, and FXCM, a leading global Forex broker, may be somewhat responsible.
In the spring semester of 2012, FXCM sponsored its first currency trading contest for students of Texas A&M University, West Texas A&M University and Baruch College. Participants in the contest were primarily students of business and economics, though anyone interested in the Forex market was eligible to enter. The contest took place over a 4 week span, during which the new Forex traders were able to study the international currency markets and to apply the technical and fundamental principles that they'd learned in class to the live market.
The contest's winner, Bryce Moody, won a $10,000 tuition scholarship, courtesy of FXCM. The contest enabled the participants to get a sense of whether they would want to make Forex trading a part of their future trade plans or professional career, and it opened up opportunities that are never offered on the university level.
I think I can speak for the entire DailyForex team and for traders worldwide, when I say that it's a wonder more universities haven't yet incorporated classes about Forex trading into their syllabi, and that I hope we will see not only more trading contests in the future, but more accredited courses offered about these fascinating markets.
Do you think that Forex trading should be taught on the university level?