IC Markets Has The Best FX Education
IC Markets has one of the best Forex education modules of any FX company in Australia and boasts the following educational resources including
1) Free Demo Accounts
2) Video Tutorials
3) Self Help Guides
IC Markets is a great option for beginner Forex traders thanks to the features outlined above
IC Markets Forex Education
IC Markets is one of the leading Forex brokers in Australia in 2020. Being a leader in the field of forex trading, they also offer unmatched training programs and educational resources as well. Advanced top trading tools, superior technology, and trading platforms are just a few of the features that make IC markets educational resources and programs the best. Below details why they have the best forex education of the top forex brokers.
1) Video Forex Education
IC Markets has exclusive forex videos on core topics such as how to use the navigator on MetaTrader 4 and using the Market Watch area on the platform. Other videos include using the MT4 trade terminal and different order types that can be executed through IC Markets. Each video is between 2 to 3 minutes making them the perfect way to quickly learn about specific areas of forex trading.
2) Web TV By Trading Central
A second way to view the best forex education is through trading central. This is a daily set of videos that focus on core focus areas and events that impact pricing in the forex market. This is a visual way for retail investors to quickly get the day’s market-sensitive data rather than reading online news sites and papers. These refresh daily to ensure the data is relevant for an Australian forex trader. Just note, this information doesn’t focus on educating individuals on forex trading but rather events that may impact currency markets.
3) Forex Education Hub
The largest area of the IC Markets forex education section is the information hub. There are different sections to the information hub. The first is company news which includes information that impacts forex trading such as forex hours, upcoming public (bank holidays) and platform updates. The second area is the fundamental analysis where market events are discussed that will change currency pairings. Technical analysis is the third section looking more at trends to help predict possible future currency fluctuations, including price action charts. The final area is a 101 series for those new to currency trading. This includes risk management to utilise tools designed for managing exposure to currency markets.
Overview Of Training For Currency Markets
On the internet, it is a common thing to see adverts promising huge profits from forex trading. This often comes with trader testimonials that seem a little bit too good to be true, and usually fail to explain the high risk involved in currency trading and high leverage. To a trading newbie, these adverts could be hard to resist as most often give and buy whatever is being offered, without considering the importance of real forex and investment education. Getting started on a trading platform is very easy, and many newbies make the mistake of running before they can even walk. The result of this is nothing but many losses, especially if high leverage is used.
If you ever hope to become a successful forex trader, it is best to remember that forex trading is not some kind of get-rich-quick scheme. Forex is serious business – and for that reason, you should approach it as such. Of course, there may be a few traders who started off with no fx education and went on to become successful but make no mistake that these are the exception and not the norm. It is important for any beginner to invest both time and money in good quality forex trading if they want to be successful in future. Joining a forex trading program will not only make you a good trader, but it will also save you a significant amount of money as well.
Why learn Forex Trading?
Each day, new traders are attracted to the foreign exchange market. All of these traders are looking to make what some perceive to be easy profits. Before the can start off trading, one of the most important things for a trader is to learn how the market operates and the various terminologies that are used. For a quick advantage, the correct use of available automated trading functions such as forex robots and software is vital.
You may have a good idea of how Forex trading works but still it is crucial that you get a proper trading education from a qualified Forex trader. This also applies to expert traders, as the market and trends keep evolving and changing. This is why you should stay updated by getting an education to improve your skills.
Learning Forex trading has in the recent past become very easy. This is because of the use of the internet, and the development of electronic trading platforms. By creating forex trading accounts, traders are nowadays able to manage CFDs and currencies. IC account types including demo accounts are also available as a way of helping newbies understand the market better. Technology advancements have made acquiring a good forex trading education a lot easier and accessible than it used to be.
Main benefits of FX education
There are many advantages to learning about forex trading from quality resources. Below are just a few of them.
Understanding the Basics
Forex trading has terminologies and concepts that are hard to understand for a newbie. Therefore, it is crucial that all forex traders understand them. Even for someone with experience trading stocks or other equities, it’s important to realise that forex is really a whole new ball game with a separate set of rules. With a good forex trading education, you can become familiar with forex terms such as drawdown, pips, stop-loss order, margin call, and forex spread. They should all be part of your daily vocabulary.
Create your own plan
Like in any other business, if you wish to start forex trading you need to have an action plan and understand the fundamentals. This trading strategy or plan is what will assist you to navigate the market safely. A plan of action keeps you disciplined and focused and stops you from getting emotional which can be bad for you.
Increase your Success Potential
Forex is no doubt a high-risk market, but it can have a turnaround of quick and high returns as well. A good forex education teaches you how to mitigate risks and capitalize on gains strongly. Just as with any other business or career, success chances improve greatly with a good education.
You can be mentored
Enrolling in a good forex trading course will provide a mentoring platform where expert traders guide you through various trading strategies. Of course, some websites offer free forex trading education, but it advisable to invest money in a good and high-quality education. This increases confidence and helps you to master the required skills faster.
Reap the rewards
If you are looking to start forex trading, the best thing you can do for yourself is to get some quality FX education and a no dealing desk (NDD) broker, even if you have to save for it first. You will eventually reap the benefits, make fewer mistakes, and have a significantly shortened learning curve. As outlined in our review of IC Markets, IC Markets, as one of the best forex brokers in Australia offer these training programs free of charge.
Compare IC Markets To ECN Forex Brokers
You can compare Pepperstone to IC Markets raw spread vs standard account which both have similar offerings. The AxiTrader MT4 account also provides relatively similar features which may also be worth comparing prior to choosing the forex broker to meet your needs. If you are a beginner trader you might wish to consider easyMarkets, IG Markets and Plus500 for its risk management features.