Best Forex Training Courses
Ready to jump into forex trading? It can be an extremely lucrative way to make money, and you can tap into dozens of advantages, including 24 hour trading opportunities, high liquidity, a wide range of forex pairs and the opportunity to trade on leverage.
One of the best ways to learn to trade forex is to hone in on the best forex training courses on the market.
How do you know which forex training courses are worth your time and money?
Look into the best forex trading course reviews as part of the series about the best trading courses. This one gives you the best option and a lot about forex trading to think through.
Benefits of Forex Training Courses
When you opt for the right forex training course (and before you do, you make sure the reputation of the course or trainer is top-notch before you dive in), you should come away with useful information and strategies that deliver results.
One of the best reasons to take a training course is to see live trading examples, price action and successful trader examples. In other words, an online course gives you the best opportunity to see real time trades (even if they're videos of full time forex traders making trades and you catch the action later).
Other benefits of forex trading courses:
- Online courses allow you to learn at your own pace,which means you can pick up where you left off in a lesson and not miss out. A lot of traders
- Many times, you get lifetime access to a course.This lets you review a course's particular Make sure your course lets you replay lessons over and over again. Skip over courses that don't allow you to do so.
- You learn the lingo from scratch.When you're first beginning, you may have no idea what a pip is, but that's a basic fundamental. The right forex training course will attempt to teach you from the ground up.
- Learn from an ambitious teacher.Look for a teacher who truly wants to help people get up and running and learn the most basic forex elements. Furthermore, look for an instructor who can come down to your level. Learning to trade is more than just learning to enter and exit positions.
Is it possible to throw money away by signing up for a trading course or seminar?
You may think you can go from $0 to Amazing Performer in one jump. Anyone who's spent any time at all in the forex market can tell you that that just doesn't happen. It's all about making sure you're realistic and that you choose the right training course for you.
Forex Trading Course Reviews
We tested out the best forex trading online courses on the market, and two emerged a clear winner: Benzinga Forex 101.
Benzinga Forex 101
Benzinga Forex 101 is one of the most versatile, comprehensive forex trading online courses you can find.
Built for beginners to intermediates, Benzinga's forex trading course can help you learn the basics of forex pairs, pips, points, short selling, support and resistance levels, forex chart patterns and indicators to intricate lessons about Fibonacci retracements.
You'll get live examples, too: Benzinga's forex course offers AUD/USD sell trades as examples.
I reviewed a couple of forex training courses and think that Benzinga's course is the best one for beginners. The course covers all aspects of forex trading at a low price.
The course starts with an introduction to forex trading, followed by detailed information about the two main trading decision methods Fundamental Analysis and Technical Analysis. Finally, the importance of risk-reward is covered, and some trade examples make the course complete.
About Forex Trading
To give you a quick preview of what you should learn, we've included a step-by-step guide, so you know what to look for on the course content.
Step 1: Check certification and reputation.
A reliable training program should not guarantee results. Consult with other traders in online forums or trusted traders, so you know you're making the right choice.
Also, pay attention to the certification. Most well-established trading courses are certified through a regulator or financial institution. Each country has its own financial regulator, so verify the credibility of a trading course with a local regulator. Find out whether the certification is legitimate and comb through its terms and conditions.
Step 2: Connect to the internet through a quality operating system.
To start trading forex via an online broker, you need an electronic device connected to the internet.
Okay, this seems pretty obvious, right?
Well, sort of.
You want anewdesktop or laptop computer, mobile phone or tablet. Windows and Android are the best operating systems for forex trading, but many trading platforms are also available for Mac and iOS devices.
Make sure the course goes over the tools you need to trade forex — in detail.
Step 3: Find an online forex broker.
Make sure the course teaches you how to choose the best forex broker for your needs. You can trade forex on any number of broker platforms, but each platform has its own pluses and minuses. Not to mention, each broker carries different fees. A few popular options include:
- Interactive Brokers
You may need to test a few brokers' platforms before you land on your best match, but the online broker you choose could lead you down the right path.
Step 4: Open your account through the broker you choose.
It's usually really easy to open an account through a broker. Visit the website and click "Open an Account" on that specific broker's website. You need to prove you are who you say you are. Follow the prompts to set up your account.
Again, the right forex course will help you choose the right broker for you.
Step 5: Fund your account.
One of the trickiest parts of learning to trade forex with real money is knowing how much to leverage. You've got questions, and your forex trading course should answer these questions, among others:
- How much should you leverage?
- At what ratio?
- How do regional regulations play into these choices?
A trading course should be able to walk new forex traders through the money side of things — and how to handle margin.
Step 6: Choose a platform.
The platform should be a major portion of the forex trading course discussion. Most online brokers support the very popular MetaTrader platforms from MetaQuotes. You want to learn everything you can about the most popular platforms.
Some brokers also have proprietary trading platforms you can download from their websites or use online.
Step 7: Learn how to enter your first trade.
Once it's time to make a live trade, you want to be sufficiently prepared, and that's your forex training course's job.
- You should know how to enter and exit trades (a demo account is a great way to learn more about your online trading platform before you make a real transaction.)
- This can help you avoid costly mistakes.
- Once you know how to use the platform, you're ready to enter your first trade.
Forex Training Courses FAQ
Take a look at the list of questions your forex training course should answer. If you can't find the answer to these questions online, call the trading course before landing on that particular course:
- What pairs will l learn how to trade?
- How much time should I dedicate to trading each day? (Do I have to watch the charts all day, or can I trade a set-it-and-forget-it approach?)
- Do I have opportunities to watch live trading through the course?
- What broker or trading platform will you demonstrate?
- What makes your course different from others?
- What returns does the instructor himself or herself see per month?
- Does this method strictly adhere to rule-based trading strategies?
- How long do students take to learn the system?
- What percentage of students who take this course do not succeed? Why does that happen?
- How much does the course cost?
What is the Best Forex Training Course?
Benzinga Forex 101 is one of the best forex trading online courses you can find. Benzinga has a high reputation; they are versatile in financial topics, and the enrollment price is entirely fair with a one-time payment of $47.
Are Forex Trading Courses Worth It?
Yes, forex trading courses are worth it — but understanding what you need and evaluating your situation before you decide on a course is the best idea.
Your success in the markets may very well depend on your ability to find something that works for you by choosing the:
- Market to trade
- Instruments to use
- Analysis method used as the basis for decision making
- Time frames
Once you understand that, you can determine the right products you want to use, those that fit your trading or investing approach.
Can You Learn Forex by Yourself?
Yes, you can learn to trade by yourself without a forex trading course. You need to be patient and understand that it will take a lot of time! Trading is a competitive industry, and trading courses and trading strategies can pave the path for your own knowledge and success.
Note: It can be hard to make money with someone else's system or method because it was designed or created by someone else for their purposes, not your own.
That said, can you make another person's trading method work for you?
Yes! (As long as you deeply understand it and what you need to do to be successful.)