Forex trading is one of the activities in the financial market that has seen a strong appeal for many people, even those who have never traded forex or even heard of it. While there is potential for great gains in forex, it requires a working knowledge and a significant amount of discipline, dedication, and patience to become a successful trader.
Beginner forex traders have access to dozens of forex trading classes, which are virtual classroom sessions and training courses, which provide them with all the tools and knowledge that they need to trade the forex market.
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A good forex trading class is developed by combining successful traders’ knowledge and experience, typically offered as part of a membership, into a trading forum. There are many brokers and independent platforms that offer trading courses to traders from around the world.
The forex trading courses that traders can expect are typically self-paced and include videos, webinars, trading simulators, practice trading accounts, chat rooms, forums, and access to qualified, experienced mentors.
The benefit that traders can get from using online forex trading classes in 2023 is working knowledge that they can apply in their forex trading. It provides them with an immersive experience and a thorough introduction to forex trading, ensuring that traders have the tools to make informed trading decisions.
Is It Hard to Learn Forex Trading?
All people have different learning abilities and ways that they learn. However, anyone can find a forex trading course that explains how forex trading works in a way that they understand it.
It is not hard to learn how to trade forex, but it involves a lot of patience and commitment as there are many things that traders must know before they can start trading. The main factor that deters traders from taking the time to learn forex surrounds a lack of patience which leads to failure.
There are also many psychological hurdles in trading forex because the financial markets are unpredictable and can turn against traders at any given moment, no matter how well the trader planned their trade. However, when traders have taken the time to learn about forex and all the different components, they will effectively know how to deal with all types of market conditions.
In addition, when traders have the necessary knowledge of forex trading, they can prevent significant losses while making profits, even in volatile markets.
How Long Does It Take to Learn the Basics of Forex Trading?
This will depend on the time that traders put in and the resources that traders use. If traders use effective trading courses alongside the right tutorials, guidelines, and classes, it can take them between 3 to 6 months to cover the basics of forex trading and to start trading in a live environment safely.
During this time, traders must do the following.
- Join online classes from trusted providers and platforms
- Watch videos for practical examples on trading in forex
- Attend webinars and seminars to gain insight from professionals
- Consult a professional for trading advice
- Register a demo account to practice trading and to gain experience
- Use trading tools provided by the broker to guide trading before investing real money
What are the Best Platforms to Learn Forex Trading for Beginners?
There are dozens of platforms where beginner traders can learn forex trading, but these are the best for 2023.
- FX Academy
- Forex School Online
- Platinum Trading Academy
- Forex Signals
- Traders Academy Club
- Investopedia Academy
- Six-Figure Capital
- Forex 101
- Asia Forex Mentor
1. FX Academy
FX Academy was started in 2006 by DailyForex.com, which is a well-respected, well-established, and authoritative forex website that provides daily forex news updates along with analysis. FX Academy was started to provide traders of all experience levels with the necessary skill and knowledge to succeed in the competitive world of forex trading, free of charge.
FX Academy has a good reputation as one of the best and critically acclaimed forex trading classes in 2023. FX Academy was built by renowned forex traders such as Cliff Wachtal and Alp Kocak. The 15 classes that FX Academy offers include basic forex orientation to advanced trading techniques, and the classes are presented in an interactive and stimulating way.
Every class offered has an animated video, reading material, quizzes, and recommendations to allow traders to study further. The course is self-paced, which allows students to benefit from an individualized approach to learning how to trade forex.
In addition, students are granted access to trade simulators where they can apply and test their knowledge. There are also Forex Strategy Simulators that allow students to develop, refine, and improve their trading strategies.
The simulations that are offered perfectly mirror actual market conditions from past periods, and this allows for students to different model strategies to determine which can be used to enter profitable positions.
FX Academy does not involve any price plans or any costs, offering its educational materials and trading tools for free to all traders. The only investment that traders must make is their time and dedication.
|Free of charge||There is no live trading room offered|
|Full-suite course offering|
|Extensive video library|
|Access to a range of trading tools|
|Uses actual past market conditions to train traders|
Udemy is an in-depth forex trading course that was started by Kirill Eremenko, who is a data scientist and expert in forex systems and strategy. The Udemy course is popular for providing beginner traders with all that they need to know to start trading in the forex market.
Udemy offers a range of beginner forex courses at a low price of $12.99, which comes with 5.5 hours of on-demand videos as well as several articles, with full lifetime access and a money-back guarantee.
When compared with other trading courses, Udemy’s one drawback is that it does not offer live instruction, live trading sessions, or any practical learning applications, which may leave beginner forex traders wanting.
The course that Udemy offers is divided into nine different topic sections, which contain 57 short video lectures that can be viewed across a range of devices, including smartphones. Lifetime access is an important factor as it guarantees that traders will have access to future lectures and other course bonuses, which may be added regularly.
In addition to this, students have access to tutor support throughout their learning process. The Udemy trading course is especially popular as it gives beginners the basic forex knowledge that they need, helping them build a sound foundation to start trading independently.
|Significantly low cost||There is no practical application|
|Lifetime access||Lack of chatrooms|
|Comprehensive materials||No coaching|
|Access to a tutor for support||No simulator to practice trading|
|Extensive course selection|
3. Forex School Online
Forex School Online is a trading school that is operated by an instructor by the name of Jonathan Fox. The trading course follows a seven-step system that helps traders learn the basics of forex trading. The course includes help with building a personal strategy, understanding the trade types and their risks, and sizing out the right trade according to the trader’s goals.
The main beginner course that is offered by Forex School Online is free, and it has a long list of blog and video content that forex traders can enjoy before and after they have completed the course.
This free course teaches novice traders how the forex market operates without requiring that traders commit financially. However, traders will not receive the same production value or high-end experience as they would with a paid course.
Another notable factor is that Forex School Online makes money through partnerships with recommended brokers, intending to push traders towards the services and solutions of these partnered brokers.
|Free beginner forex course that covers essential topics||Less polished and comprehensive than paid courses|
|Additional free video as well as written content without login||Guides offered aim to push students towards a specific brokerage partnership|
|Tools, PDF downloads, and calculators are available at no additional cost|
4. Platinum Trading Academy
Platinum Trading Academy is a UK-based trading educator and one of the top choices for intermediate and advanced forex traders because it offers a variety of advanced courses to improve the trading skills of experienced traders.
Traders who already know the basics will want to learn more advanced trading strategies which are being used by professionals and full-time traders. Platinum Trading Academy offers multiple forex and trading courses, with two that are ideal for advanced trading strategies.
The Forex Masters Program and Elite Trader Program both include training on advanced trading strategies that include algorithmic trading, technical analysis, and even a private mentor that will help traders by offering one-on-one trading. These courses are set to help traders to take their trading to the next level.
However, the one-on-one training is not known to come cheap, and Platinum Trading Academy does not share its pricing publicly on its website. Interested traders must contact Platinum Trading Academy directly, and an agent will discuss pricing options with them privately.
|Master and Elite programs for traders who want to become experts||Pricing is not transparent|
|Dedicated mentor provided||Sign-up is not electronic and involves a consultation sales call|
|Ability to learn advanced strategies|
5. Forex Signals
Forex Signals is a fully comprehensive online trading class and an in-depth educational course that provides traders access to professional trading tools, professional guidance, and a seven-day refund if traders are not happy with their purchases.
Forex Signals was established by Nick McDonald in 2012, a leading independent trader who is also a financial educator that had a global following at the time. Forex Signals is considered a hub for both knowledge and learning, and apart from providing a range of courses, it also relies on best-in-class tools, a large and close-knit trading community, and mentoring that is offered by trading pros.
Forex Signals aims to teach beginner forex traders to trade by using proprietary methods for identifying trends and subsequently generating signals. Professional traders reinforce the knowledge and trading by using the same information and tools that they teach, and this formula appears to be working.
In the past nine years that Forex Signals has been in operation, the community trading room has grown to over 80,000 members, and the YouTube channel has more than 294,000 subscribers.
Forex Signals offers two courses which are broken down into six separate modules, each offering 136 hour-long videos. The content of the trading classes starts with the basics of forex trading, and it gradually advances to the technical aspects involved with trading.
The cost involved for an Apprentice Membership is $97 per month, and it includes.
- Trading Room Access
- Pro Trading Video Academy
- Daily Live Trading Sessions
- Live interactive Workshops
- Access to Pro trading tools
There is also an annual package priced at $297, which is charged every six months, and it adds personal feedback, one-on-one sessions with a forex professional, Andrew Lockwood, and more.
The Professional Package is $567, which adds all the basics, plus the bonus of having a direct line to mentors.
One advantage that Forex Signals offers is a 7-day trial in addition to a no-questions-asked refund for seven days after payment.
Forex Signals is one of the most reputable online forex trading classes that has received a 5-star review on Trustpilot, with 1,407 reviews to date, making it a popular and trusted choice among beginner forex traders.
|Comprehensive, all-inclusive offer||Does not cater for intermediate or experienced traders, only beginners|
|In-depth educational courses||A monthly membership plan is expensive|
|Access to mentors|
|Range of trading tools offered|
|Live trading room|
|Free seven-day trial and seven-day refund period|
|Membership discount when choosing the annual plan|
6. Traders Academy Club
Traders Academy Club was started by Vladimir Ribakov, who is an international certified financial technician to provide traders of any experience level with a one-stop-shop for educational material and resources.
Despite the experience level of the trader, Traders Academy Club is well-known for providing a unique learning platform that will help traders improve, allowing them to trade higher levels.
Traders Academy Club charges a $197 membership fee annually, providing students access to a comprehensive Media Zone, which hosts hundreds of webinars for both beginners and experienced forex traders.
It also includes recorded trading simulations along with analysis videos. Traders can also expect recordings of Live Trading Room sessions, 24/7 access to instructors for support, and a live chat room where members can interact with the founder, Vladimir.
The webinars that are offered by Traders Academy Club often feature appearances by guest traders from around the world who have knowledge and experience on a range of topics.
The most popular content that Traders Academy Club offers is the live trading sessions which can be viewed daily in either 30- or 50-minute spans via a webinar. These sessions offer students with both forex signals and detailed analysis, which break down the mechanics of forex trades that are recommended for use during each session.
|There is comprehensive trading at each level of trading experience||Expensive at $197 per year|
|Extensive educational materials|
|Access to a real-time trading simulator|
|Large and active chat room for all members|
|Group mentoring offered|
|Free training courses provided|
7. Investopedia Academy
The forex trading for beginners course that is provided by Investopedia Academy is one of the most interactive forex trading classes that is approachable, comprehensive, and polished for beginner forex traders.
With this course, beginners can learn the basics involved with how to save on their trading costs, how to analyze trades, and how to read market patterns to identify ideal trading opportunities.
The instructor is John Jagerson, and he holds both CFA and CMT designations. He is also a renowned author who has authored many books and has developed a range of online trading courses.
To register for the trading course, traders must pay the $199 membership fee, which provides traders access to more than 60 lessons that cover how forex works, order types, market analysis, price patterns, charting, and several more.
|More than 60 lessons covering core areas of forex trading||Hefty $199 price tag|
|Taught by an expert||Not appropriate for advanced traders, only beginners|
8. Six-Figure Capital
Six-Figure Capital was established by Lewis Glasglow, who started his path in trading forex in 2013. However, even though he has only been trading for the past eight years, he has used his time wisely. Within a few years, Glasglow had developed and successfully traded a new method involved with the signal generator that has achieved international acclaim.
Glasglow became an overnight success, and it sparked his passion for teaching, resulting in Glasglow developing a 14-day forex trading course that is based on real market experience. Glasglow has taken hundreds of aspiring traders from beginners to experts in the past five years by using his trusted method.
Six-Figure Capital is a 14-day forex trading course that is designed for novice forex traders as well as intermediate traders who want to move quickly through the learning curve. The trading course consists of 20 videos which are spread across two weeks, with a new topic that is presented daily.
This course also includes live trading sessions, which enable students to gain real-time, practical experience in trading forex. In addition to this, four bonus modules include extra material such as eBooks and spreadsheets.
One of the top features of Six-Figure Capital is the community hub where fellow students and experienced traders can network and share their trade analyses and ideas.
Students who have successfully graduated from the 14-day course can move on to the advanced harmonic mastery course, which is used to teach students how to trade using Glasgow’s harmonic pattern software.
The costs involved with becoming a Six-Figure Capital student involve a once-off fee of $1,058 or 12-monthly payments of $128. When signing up, traders are given access to courses and tools with either of the payment plans, including a lifetime membership which provides future updates to course material in addition to consistent support.
|Intense two-week course||There is no free trial before sign-up|
|Live trading sessions offered|
|Active community room|
9. Simpler Trading
Simple Trading is one of the most reputable and well-known educational material providers in the world, featuring more than eight distinctive, highly successful, and renowned traders who bring a wealth of knowledge and experience to beginner traders and learners.
With Simpler Trading, traders are granted access to instructions in webinars, videos, a live chatroom, and mentorship while using updated, innovative technologies. The team of specialists is available 24 hours a day, 7 days a week via telephone and live chat.
There are more than 66 courses to choose from, and the courses cover a variety of financial asset classes. Some courses provide education to beginners, intermediate, and advanced traders.
Beginner traders can easily learn about Fibonacci price analysis, directional trading, straddles, strangles, and many other trading strategies.
In terms of membership costs, Simpler Trading offers several membership plans which are custom-crafted to appeal to the different trading needs and goals of various traders. Traders can get the Simpler Trading Mastery membership for $597 per quarter or $1,997 per year.
Each membership level comes with its provisions and benefits from access to live daily trading videos, interactive Q&A, real-time trade alerts, and more. All trading programs are led by different traders, and each trading plan and membership is divided into four different membership groups.
|A comprehensive platform dedicated to education||The price tag is hefty|
|24/7 access to support|
|Wide range of courses to choose from|
|Suited for beginners and more experienced traders|
10. Asia Forex Mentor
Asia Forex Mentor was established in 2008 by Ezekiel Chew, based on the personal success that he had experienced as a forex trader. Since then, Chew has become an international speaker, and he has trained many institutional traders using the methods that brought him success.
The Asia Forex Mentor program is a popular and reputable course, and the Core Program is the result of more than 20 years’ worth of experience.
Asia Forex Mentor has 26 full-scale courses that consist of more than 60 sub-topics, and each of these is supported by a studio-quality online video. Every lesson is embedded with hand-picked examples and interpretations from Chew.
The all-inclusive cost of this program is $997, which is paid up-front. However, before committing to this, forex traders can test the Asia Forex Mentor program with a free, five-lesson trial.
In addition, for $118 per month, or $1,200 per year, forex traders can access another valuable proprietary program called the Golden Eye Group. Whit this program, traders are given access to the “inner sanctum” through live streams of weekly market analysis conducted by Chew, in which he offers explanations and interpretations of the trading setups and strategies that he uses and how he makes his trades.
|Extensive course offering||No monthly payment plan|
|Studio-quality videos offered||Expensive once-off payment with no guarantee of success|
|A free, five-lesson trial before purchase|
|World-renowned traders as a mentor|
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