Finding the best forex trading course online that will help you understand forex investing is hard. Getting a solid Forex education is absolutely crucial if you wish to succeed in trading. This is where everyone should start, as it gives you a basic framework from which to start. The trick about trading is that the learning never stops, so education is something that is constant.
The Forex markets will have a majority of players that lose money, mainly due to a combination of factors that include bad money management, bad strategies, and a lack of discipline. By having some kind of framework from which to operate, this allows you to have a quantifiable way to measure your success, and then look to improve upon what you are doing.
The thing about trading is that you either love it, or you lose money. Your Forex education will never stop, so finding the right place for educational materials is important. Let’s review some of the top-rated forex classes online and compare their features to see which one is right for you.
Top Forex Training Courses in 2020
Here’s a list of the best forex trading courses that will train you how to invest online and start making better trades.
ForexSignals.com
ForexSignals.com is a relatively well-known YouTube channel offers plenty of videos that people have enjoyed for years. The educational system is a bit different than many other places, because it is all about daily live trading sessions and signals as well as interactive workshops. The trading room access allows you to learn right along with a Pro, and it should also be noted that the service offers “The Beginner”, and “The Professional”, offering different access as far as one-on-one mentoring is concerned.
There are videos for systems that they teach, but most of the educational material was done live. That is one of the major advantages to learning in this environment. The main difference between the two levels is that if you choose the “Professional” version, you pay $249 for an entire year up front, while the “Beginner” is $97 a month. It should also be noted that the “Professional” account allows one-on-one with a mentor, personal trading feedback, and exclusive brokerage access.
Features
- Videos
- Live trading room
- News Feed
- Access to mentors in a live environment
Pros
- Live mentors
- Institutional news feed
- Virtual trading room
- Strategies offered
Cons
- None that are obvious, despite the obvious marketing games
Bottom line
This is a place where you may certainly find valuable information. Currently, they have an offer to buy an entire year for $249, thereby saving $915 by paying for it all at once. That is an outrageous discount!
However, $97 per month isn’t a huge investment for somebody looking for a little bit of handholding. After watching several of the videos though, it should be noted that most of the information is relatively basic, so a month or two should be more than enough.
Bizintra
Bizintra is a company that has been formed by several professional traders from the UK that specializes in education. They offer a whole host of different educational forex classes online, allowing potential traders to learn about the basics of trading financial markets, all the way to advanced strategies. They also offer signals, and a wealth of videos and live webinars. The cost goes anywhere from £99 to £499.
This seems to be more or less a “one-stop shop” of both education and signals, so it will have an appeal for certain traders. They also have limited sponsor places, so they offer the ability to learn for free to a select number of people.
Features
- Live webinars
- Signals
- Access to mentors in a live environment
Pros
- Live mentors
- Institutional news feed
- Virtual trading room
- Verified professionals with experience
Cons
- One of those experienced professionals has credibility problems
Bottom line
Bizintra is good place to learn. Their educational material thorough and cover most beginner to advanced topics that you need to understand when you are starting out trading forex. They walk you through the basics with their expansive library of video lectures and lessons to give you a good foundation to build off of.
FX Academy
FX Academy is the online trading Academy for Daily Forex, a portal of analysis and news for the Forex markets. The best thing about this Academy is that it is free. With that reasoning alone, it’s probably the first place you should be looking. The Israeli owned company has been around for years and is well known by traders globally. The Academy has a long list of interactive and professional quizzes, educational platform widgets, and also offers the ability to choose individual lessons, personalizing it for most traders.
The Academy has been written based upon the work of Cliff Wachtel, author of “The Sensible Guide to Forex.” The Academy allows you to use a whole host of tools in a safe and free environment. In fact, you never have to pay for any of the lessons and therefore it’s a winner from that alone. Furthermore, the lessons are broken down into “bite-size pieces.”
Features
- Videos
- Interactive widgets
- Forum
Pros
- Free
- Plenty of videos
- Broken into bite sized piece of information
- Based upon highly respected book and methodology
Cons
- No live trading room
Bottom line
Few things are better than free. The FX Academy at Daily Forex is probably a winner by that measure alone. There are a lot of ways to learn about trading Forex, but this is most certainly one of the first places you should look to learn, as it is completely risk-free. There is no cost, ever.
This cannot be stressed enough as there are a lot of really expensive courses out there that don’t teach much more than you will find here. As it is free, you give up is the one-on-one mentoring and live trade room. However, the methodology and technical analysis education is as good as anywhere else.
Six Figure Capital
Six Figure Capital offers harmonic pattern trading education. They have a proprietary indicator that can be attached to Metatrader, NinjaTrader, and eSignal platforms. The company has only been around since April of 2016, beginning with the step-by-step online trading course that started it all. The founder, Lewis Glasgow was looking for a way to teach people how to profit in the financial markets with a strategy and methodology that actually works. (Quoted from the site.)
The company offers live weekly webinars for students, as well as a basic 14 days trading course. They then focus on harmonic pattern mastery, something that is rather complex, but some traders truly like it. They have a community site for students to interact with each other, read important stories in the news, and check on the economic calendar.
The company offers two variations for memberships. There is the lifetime membership that costs a one-time fee of £800, and a monthly membership that costs £97 per month.
Features
- 14 day course
- Forum
Pros
- Interactive slack room for students
- 14 day course
- Weekly webinar
Cons
- Nothing
Bottom line
This is a premium collection of lessons that give you all the information and training that you need to be a successful forex trader. Their expansive library of educational resources is extremely informative and will truly help you understand how markets work and how to take advantage of them. This is a great system for beginners and intermediate traders along with advanced investors looking for an edge.
Platinum Trading Academy
Platinum Trading Academy hails from Nottingham, England and is relatively well known in the Forex world for education. They offer a live trading room, which is virtual, meaning the traders from all over the world will be trading.
Platinum Trading Academy offers several different forex online learning programs on their website, including Trading for Beginners, the Master Course, the Elite Course, and Generation X. Essentially, these courses start from the very beginning and work all the way up through their most expensive package, generation X. As you start out, you learn the very basics of trading Forex, but as you progress through the courses, you receive more and more mentoring.
The course claims to offer institutional grade education, but most of what can be seen on the website is the same basic mill of the run technical analysis that you will find anywhere else. There are videos, written work, the ability to work on a Forex trading plan, and then the ability to trade live with a mentor.
Features
- Videos
- Live trading room
- E-Books
- News Feed
- Access to mentors in a live environment
Pros
- Live mentors
- Institutional news feed
- Virtual trading room
Cons
- Outrageously expensive
Bottom line
Only fools learn to trade here. The most basic online forex trading course covers some of the most basic of technical analysis and charting but does have the added benefit of having signals provided. That being said, the basic trading course alone is £1500! As you progress forward, the most expensive course runs £9995! This is reason enough to avoid this place at all costs.
Common Online Forex Trading Course Questions
Here are some of the most popular questions people have about online forex trading programs.
What to look for in a Forex trading course
To be honest, most courses are going to cover the common technical analysis systems and patterns. The ability to see several examples of patterns working, and perhaps more than importantly, when these patterns don’t. The course should also cover discipline, psychology, money management, and fundamental analysis as well.
How can I be a good Forex trader?
To be a good Forex trader, you need to test systems to see if there is a statistical edge worth following. Furthermore, you need to see where the system can be improved, and under which scenarios it works out. You will also need to journal, in order to keep track of your trading to review later. Other things that will help is being properly capitalized in order to make a realistic return. Far too many people get into Forex trading expecting the impossible. People don’t turn $100 into $1 million, despite the advertisements that you see at times.
Understanding that this is a profession is important as well. The vast majority of traders lose money over the long term, mainly because they don’t treat this endeavor as something that takes a significant amount of work. It takes time to be good at anything profession, trading isn’t any different.
How do I get started in Forex?
The very first step in becoming a Forex trader is to find a broker from which to do business. After that, you need to learn the basics, and then test systems or methods on a demo account to see how things work, and how they don’t.
After that, the next step is to trade a small account, growing it through both gains and deposits over time.
What is the best broker for beginners?
The best broker for beginners is anyone that allows the smallest trades. After all, there is a huge difference between trading at $0.01 a pip instead of $10 a pip. You should also have an unlimited demo account, so that you can test your trading.
The smaller the allowed trade size, the better. There are numerous brokers that allow this. Also, make sure that any broker you use is highly regulated as well.
Is it easy to learn Forex?
No, absolutely not. Trading any asset class is a lot of work, as many of the disciplines needed go against human nature. There are also almost limitless factors that can come into play as well, but the rewards are just as limitless. If you wish to be a trader, you will have to work, and work hard at that.