Forex Training Courses

Forex trading training courses can introduce beginners to the world of currency trading. Whether a trader needs online classes or an offline mentor, we look at the trading videos, webinars, books and websites that promise to take your trading to the next level. Bur what really delivers, and are the best materials actually available for free?

Read on to find out.

Brokers Offering Forex Training

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Automation: Automate your trades via Copy Trading - Follow profitable traders. Open and close trades automatically when they do.
75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Forex.com boast a global reputation. Regulated in the UK, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
Automation: Automated trade supported through trading platforms (MT4)
NinjaTrader offer Traders Futures and Forex trading. Use Auto-trade algorithmic strategies and configure your own trading platform, and trade at the lowest costs.
Automation: Yes. NinjaTrader is a dedicated platform for Automation.

The best Forex trading training classes will teach you everything you need to know about the foreign currency markets.

  • The factors that impact currency pair price evolution. Some of these factors are interest rates, commodity prices, economic news, etc.
  • Fundamental and technical analysis, to help you find trading opportunities.
  • How to open and close short-term positions. How to take advantage of the favorable fee/commission structure of Forex.
  • Handle advanced order types and strategies.
  • Find proper Forex dealers.

On this page, we take a look at Forex trading training in general. We discuss issues such as:

  • Forex trading training for beginners.
  • Software courses.
  • Educational videos.
  • Forex books.
  • Free trading courses.
  • Location-specific Forex trading courses.

Forex Training For Beginners

Many online Forex trading courses target beginners. As a rookie, how do you know whether the course you plan to complete is a quality one?

There are two types of Forex training courses:

  • Online. (Webinars, Live Trading etc)
  • Individual, or face-to-face trading courses.

The online Forex trading realm can be a jungle for new traders. Many of these beginner-focused courses are low-quality.

Some of them fail to cover more than what brokers offer to their newly registered clients for free.

Here is what you should consider when picking a beginner online trading course:

The cost and time-wise commitment the course requires. If you are serious about Forex trading, you should invest a reasonable amount of time in your education.

One-on-one mentoring is time-consuming and quite expensive. This goes for online trading courses as well.

Steer clear of too-good-to-be-true offers. The online Forex learning space is rife with scams. If someone promises you guaranteed profits, massive profit margins or failsafe trading strategies, you are dealing with a scam.

Focus on reputable trading courses. There may be millions of offers out there. People do, however, leave feedback on these courses. Those with the most solid reputation are the only ones you should consider.

Certification. Financial authorities and various regulatory bodies offer Forex trading course certification. The most serious and reputable trading courses are indeed certified. The CME, the National Futures Association, the CFTC and the SEC are a few of the US regulatory agencies. Your local regulatory bodies may also offer such certification.

Software Courses

Software trading courses can introduce you to the ins and outs of the Forex markets. They can fill you in on various strategies. You may also be able to acquire advanced skills through these courses. Some of them are interactive, so they will not relegate you to a passive consumer of information.

That said, software courses cannot give you live, one-on-one tutoring. For that, you need to hire the services of a specialist. There are trading course packages which may offer a certain degree of interactivity. They are hardly the equals of one-on-one teaching/learning, however.

You can download scores of online trading courses. Before you commit to a package, however, make sure it fulfills these quality criteria:

  • The course delivers the information in an engaging manner. More specifically, it uses graphs, video recordings, trading demonstrations, etc. Since this is not live, one-on-one education, it has to be capable of drawing you in and keeping you focused.
  • The package has to be functional. It must not contain broken links, videos that will not load, etc.
  • The overall presentation of the information has to be professional. Spelling errors, inconsistencies, and bad design are not trust-inspiring.

Educational Videos

A picture is worth a thousand words, they say. Moving pictures and animations with sound must then be worth at least a million. Nowadays, you will find Forex training videos everywhere. You will also be able to view most of them for free. Such videos are integral parts of most downloadable Forex training courses.

Various video platforms, such as YouTube, host plenty of Forex educational content. Nobody curates these videos, however.

The content they deliver may, therefore, be great or abysmal. No one assumes any sort of responsibility in regards to the information such videos deliver. The experience level of those creating these videos and their reputation determines the quality of the material.

Most Forex brokers feature education sections. The videos offered through such packages should theoretically be more trustworthy. Some of these videos are free, while others are only available to paying (depositing) clients.

Major trading portals often accompany their encyclopedia pages with videos. Such videos tend to be of high quality. They are, however, somewhat limited in scope.

Most software trading courses use videos to illustrate concepts and to demonstrate trading scenarios. The quality of such videos depends on the quality and reputation of the online course package.

Best Trading Videos

Below are some examples of the best training videos delivered by brands themselves:

Forex.com introductory Forex explanation for beginners:

Pepperstone “Price Action Master Class”. This recorded webinar gives a good example of the quality of webinars available for traders, this one leans slightly towards traders with a little more experience:

FXTM back to videos for beginners here, with an introduction for FXTM (Forex Time):

This selection of videos and webinars illustrates that free resources from brokers are often of high quality and very helpful to those learning. Webinars are a great option to make contact with real traders, and get answers to particular questions.

Books On Forex Trading

The selection of hardcopy, audio- and eBooks available on Forex trading is impressive. While various electronic formats work fine for reading material, nothing beats the feeling of having a physical book in your hands.

You will find plenty of Forex education in this format as well. There are books targeting beginners, advanced traders and those looking to add some finishing touches to their already working trading strategies.
At first glance, the choice is easy. Book titles are not misleading. Something titled “Forex Trading for Dummies” is probably not geared toward professional traders.

When it comes to choosing a book, relying on the feedback of the community makes perfect sense. Read around and see what people have to say about a certain title. Decide based on your knowledge level, personal needs, and community recommendations.

Free Forex Courses

The quality factors we discussed about Forex courses in general, hold for free Forex courses as well. In the free Forex course space, scams are even more prevalent than in the wider Forex education field.

Be aware that scammers like to offer you “free education”, in exchange for your deposit with a broker of questionable reputation. This scheme never gets old. In such cases, the course you get is not exactly free. It carries a hidden cost, which is always more than the value it delivers.

Most Forex brokers feature some education. In some cases, the entire education section is available for free. In other cases, only a few introductory lessons are free. Only depositing traders can access the rest.

Forex brokers also feature Demo or training accounts. On such accounts, you can try out some of the theories you pick up through your Forex course.

If you are going for a free course, make sure it is professionally presented, engaging and fully functional. You will find community feedback useful in this regard are well. Also, you want your course to go into specifics. You need it to tell you how to trade and to show you examples on specific trading platforms.

Location-specific Forex Education

The principles of Forex education are universal. When it comes to details, however, not all currency pairs behave similarly. Different fundamental factors drive different reactions in different markets.

Country-specific trading courses may focus on different markets. We mentioned that you should choose regulator-approved trading courses, if possible. If you are in South Africa, you will want FSCA-approval. Of course, even the approval of a US-based regulator, such as the SEC, carries certain guarantees for traders world-over.

Online courses tend to focus on the universal aspects of profitable Forex trading. Through such education, you will lay a solid foundation for your Forex skills. You can then easily adapt these skills to specific markets.