Forex Trading Overview
Forex trading is the buying and selling of currencies of different countries. This trading is done over the counter and is currently the largest liquid market globally. Many people around the world have considered investing in it because they have realised that it is a quick-profit making market. It is an ever open market because of the difference in time zones in the world.
Furthermore, markets are opening and closing frequently, therefore, providing consistency in the trade. To trade Forex, you ought to train to be successful in the market. It does not just come automatically that you make profits but rather requires an individual to acquire the skills necessary to trade over a long period.
This Compare Forex Brokers site offers a list of some of the top Forex Trading Courses both in Australia, overseas and online. Both beginners and existing currency traders can benefit thoroughly from some of these courses.
How to Choose the Right Trading Forex Academy
The best way to learn to trade step by step the currency market is through a FREE online course. However, most training courses are developed following the same guidelines and teaching methods without giving you an edge to become a successful forex trader.
Which forex training courses should you choose?
We’re going to answer that question and give you some tips on how to pick the best forex training course and how to avoid the scams. As a general rule, all trading education courses should share 3 common features:
- The forex classes should be designed to accommodate any skill level from beginner to professional FX traders
- The course material should be practical, giving FX traders an edge in the market
- Paid courses should come with a 30-day money-back guarantee
Comprehensive Trading Education
The first criterion for selecting a good forex trading course is the availability of a multilevel educational material that will teach forex students the following:
- Beginner’s Guide (a step-by-step guide on how to trade Forex, an introduction to currency markets, popular trading platforms like MetaTrader 4)
- Intermediate lessons (technical analysis, fundamental analysis, chart patterns, indicators, etc.)
- Advanced lessons (risk management techniques, how to master your psychology, etc.)
- Expert Forex lessons (advanced trading concepts, how to properly execute your trading strategy, etc.)
The ultimate forex trading guide for beginners should also include a one-on-one mentoring session so that forex traders can solidify their Forex knowledge and improve their trading skills. Regardless of your trading experience, a good forex trading guide should be able to remind you of old trading concepts and teach you the new price action setups.
Certification for Online Forex Courses
The second factor to consider when choosing online forex courses is if the educational material abides by the code of ethics imposed by the major regulatory bodies like the:
- Australian Securities and Investments Commission (ASIC) in Australia
- Financial Conduct Authority (FCA) in the UK
- Cyprus Securities and Exchange Commission (CySEC) in Cyprus
- The National Futures Association (NFA) in the USA
- Financial Sector Conduct Authority (FSCA) in South Africa
Trading forex isn’t a get-rich-quick scheme that many so-called forex Gurus portray to be. If you want to avoid the forex scams, stick with the reputable online trading courses offered by well-regulated forex brokers. A forex educational material that is certified by popular regulatory boards can give you the peace of mind that you’re getting trusted information.
Get Lifetime Access
Successful forex traders know that the learning process requires constant study and lifelong commitment. If you want to learn currency trading, you need lifetime access to forex courses that are constantly updated with new relevant content and live demonstrations and other additional materials to keep students engaged.
How Many Types of Forex Trading Courses Are?
You can learn to trade the currency markets via two types of forex trading courses:
- Online Trading Courses
- One-on-One Training
If you want to learn from the ground up how to start trading the foreign exchange market, then the online courses are your best choice. However, if you already have a solid understanding of how the currency pairs and different CFDs products work, you can opt for individual training.
There are free forex online courses, but there are also paid mentorship programs developed by veteran forex traders. By comparison, individual training programs are more flexible and can help forex traders achieve better results.
Additionally, the best forex trading courses should offer on-demand videos or real-time webinars. At the end of the day, if the trading guide can teach you a profitable day trading system with a good money management strategy you should consider that you invested your time wisely.
Australian Forex Trading Course Guide
Australia has a very popular Forex market in the world. Regardless, there are still many individuals that get burnt by volatile markets due to lack of experience. Several Forex trading courses are offered in the country. The courses are both effective and informative. Their platforms for teaching are both online and offline. These courses help individuals understand the conceptual terms used in Forex trading and equip one with enough knowledge to be creative in coming up with up successful trading strategies.
Easy Forex’s main value proposition is their low fee, fixed spread Forex Trading account. They charge no commissions, no withdrawal charges, guaranteed a stop-loss rate and a fixed spread of 1.8 pips. The training sources available issue even demo accounts to beginners that enrol themselves in their programs.
The popular Compare Forex Brokers site was published and is run by long-time forex industry operators. An experienced trader looking for a new broker usually looks at the bonus offers as they usually sway their decisions between one broker over another. However, if you are a beginner trader, a Forex Trading course should be the first step in your research process and NOT the level of bonus brokers offer.
Traders 4 Traders (T4T Capital Management)
A beginner should consider this Forex Trading course as his/her first forex course. It is a recommended elementary course that one should start with when venturing into Forex Trading. The course is not only simple but quick, although very informative. It is only offered online.
Trade 4 Trade was founded by a panel of Forex Traders who had over twenty years’ experience working in major world banks. They started the course as an initiative to mentor and bring up new traders and turn them into experts. The course doesn’t come cheap, though, investing in taking it will mould you as an upcoming trading expert. Several benefits are realized when you learn forex from this course.
The Forex Trading gives one a chance for unlimited dialogue with different trading experts. Therefore, you get the chance to acquire unlimited information from these experts. Upon completion of the course, a trader can now apply for a free education package and from this; you also get free passes at local workshops held in Australia.
In the forums, you get more exposure to more information on Forex trading and some top forex brokers. Then onwards, you are deemed as an esteemed customer granting you access to the graduate website from which you can get a Forex coach for consultation around certain issues.
Learn to Trade (Formerly Knowledge to Action)
Learn to Trade has been a popular trading academy since the year 2003; when it was founded by a Forex Specialist. It holds forums globally. The first thing to go when joining this could is to get a free Forex education package. The educational package entailed Forex education content put together by experts. Customers are invited to free workshops around Australia which offer valuable guidance through Forex Trading.
When traders are exposed to the different types of Forex Trading strategies, they are given access to the graduate website. From the website, they can get Forex coaches who tutor them on how to develop their careers.
FXCM Trading Courses
This broker received a global award for being the best Forex broker. It was founded in the United States in 1999 as Forex Capital Market and is well acknowledged as being among the best trading houses in America. Recently they have expanded their resources and got two awards around their tools, trading software and trading platforms offerings. FXCM’s demo, forex systems and learning to trade tools truly are market-leading and fantastic for new traders just finding their way in the world of Forex and wanting to be a successful trader.
Other Online Based Courses and Forums
There are multiple online courses one can consider taking up, not just the above mentioned. Forums like the Forex Peace Army and Baby Pips are also very good and informative. They can still help mould one to be a successful trader. Especially being a beginner in Forex Trading Australia, it is highly advised to make efforts and consider personal research. Self-research will give you an advantage because it can help you avoid significant losses. Aside from that, you will also grow more accustomed to the industry.
Be aware that forex trading courses only give you the know-how of how to trade and how to realise a profit, generally, subject content. Your evaluations and interpretations of the acquired information are what will give you creativity in coming up with profit-making trading strategies. However, Forex Trading courses are designed to give you that initial guidance.
As a beginner, start with Forex Trading comparisons and forums as well as studying foreign exchange markets and trends. Lastly, traders can gain some experience with brokers that offer demo broker accounts. Free demo accounts are a great starting point and make grasping information learnt in Forex Trading courses easier.