Forex Trading Course: How to Learn Trading Forex from Scratch!
Have you been inspired recently by the great potential of investing in the Forex market and want to give it a go?
It might seem like a great idea, but how does one learn about trading FX?
How Do I Start Trading on the Forex Market?
Our recommended first step towards becoming a proficient trader would be to enrol in a course developed by a regulated broker.
Some beginner traders do not believe it is necessary to work hard and learn about Forex or other financial markets prior to trading. Whilst it's true that no amount of training or studying will guarantee you success, training will help you develop skills which are necessary in order to become a successful trader and will also reduce the chances of you making silly mistakes.
There are many great trading courses giving you the opportunity to learn everything required in order to start trading in Forex or CFDs. Thanks to today's technology, many of these courses are online, so you can learn these new skills from the comfort of your own home and build a schedule based on what works best for you!
Regardless of your current trading level and what you want to achieve, there is a Forex course suited to your needs!
How Do I Choose My First Course?
When you start your search, you are likely to be overwhelmed by the sheer volume of trading courses that are available out there.
Our advice would be to choose a course which is free and is provided by a regulated broker. Choosing a course with a regulated broker should guarantee the quality of the course's content.
What Types of Courses Are There?
When it comes to choosing a course, you will have the option of either learning online or attending a more traditional face-to-face class.
For a beginner trader, our recommendation would be to go for an online Forex trading course. In these courses you will be provided with presentations, videos, manuals, trading simulators and personalised consultations. A huge benefit of this type of training is that you will be able to move from a beginner to a more advanced level at your own pace. This type of course can be either free or paid for.
The more traditional face-to-face courses tend to be much more specific, which is why we recommend that you have at least a basic knowledge of trading before considering this type of Forex course. The teacher is usually a successful trader and will teach you their own personal trading strategies as well as risk management. You will most likely also learn how to open and close market positions and pending orders. This type of training can be free of charge, if a seminar, or paid for in the cases of one-on-one tutoring.
What to Consider When Choosing a Forex Trading Course
When choosing a Forex trading course, you should consider the following criteria:
Reputation of the Course Provider
With the rapid growth of online trading, the supply of Forex training courses has risen dramatically. A simple Google search for the words "Forex course" shows about 33,500,000 results in English. You will want to focus solely on the reputable courses. But how can you tell which ones are reputable?
Firstly, you should discard any courses which promise you guaranteed results and instant returns. A good FX course will never make such promises. Instead, look for courses which promise training in trading but also make it clear that strategies which may have generated results in the past will not necessarily do so again in the future. Always bear in mind that there are no financial guarantees in the Forex market.
The certification granted by the course or its author must be regulated by a competent authority. If the course is a worldwide course, it must be certified by different international bodies.
Quality trading courses are always certified by regulatory bodies or financial institutions.
Cost and Duration of the Trading Course
Courses with live teachers may require a high degree of participation, as well as having set time slots for each lesson. On the other hand, online courses tend to be more flexible by providing lessons based on pre-recorded video presentations.
Before making a decision, be sure to examine what you are committing yourself to in terms of time and cost. Both of these elements can vary greatly depending on the provider.
Once you have narrowed down your options, be sure to check the following:
- The terms and conditions
- Reviews from previous students
At Admiral Markets we offer a wide range of trading courses, including some for beginners.
Forex 101 Trading Course
This free online course is made up of three modules (Beginner, Intermediate and Advanced) and is designed specifically for beginner Forex traders.
Each module consists of three separate online lessons which are each made up of a video, written notes and an end of lesson test.
You will start with the basics, an introduction to the Forex markets and how they work, before learning how to download and use a trading platform in the second module in order to make your first trade! The final module will show you how to create a trading plan as well as well as providing tips in order to help you with managing risk.
The course will provide you with the necessary foundation to begin trading in the Forex market. However, this is only the first step on your path to becoming a successful trader! Our next course will help you continue the journey!
From Zero to Hero Course
This course will take you to an advanced level of knowledge for both the Forex and stock markets. It takes place over 20 days, during the course of which you will make the transition from theory to practice.
The course includes basic concepts about:
- Market analysis
- Fundamental analysis
- Technical analysis
- Trading strategies in real market conditions
- Development of the necessary skills, including psychological, in order to make the move from an amateur to an advanced investor in the financial markets
By the time you have finished this second course, you will have a solid foundation in what trading is and how to start making your own trades.
Forex - Webinars
Webinars provide the opportunity for interactive learning online. They involve a tutor and a group of novice traders in a live format.
Typically, webinars last about an hour and cover a specific trading topic, which the tutor will discuss before opening the floor to the group for questions.
Many brokers organise these webinars regularly. You will be able to find information about upcoming webinars on their website. Alternatively, if you are already subscribed to the broker they should inform you by email.
Forex Courses - Videos
Video trading courses on YouTube present the opportunity to learn how to trade Forex on your own, at your own pace. You can find online videos which cover both basic and advanced topics about the FX markets.
These videos are produced by both regulated brokers and independent professional traders who are interested in sharing their experiences and knowledge.
YouTube has a vast array of videos, tutorials and courses available for Forex Traders. The platform also provides another interesting tool, which beginners in the foreign exchange market should take advantage of. Viewers can follow live transactions as they occur, performed by a professional trader.
You can view their trading strategies and decide whether you want to replicate or modify them according to your trading plan and trader profile. To benefit from this experience go to YouTube.com and search "live forex trading".
On the Admiral Markets YouTube channel you can find videos on a wide range of Forex and financial market related topics.
FX Courses and Seminars
If you already trade with an online broker, you may be interested in getting to know the team that works behind the scenes and can help you with insight into trading decisions. At Admiral Markets, our team of expert analysts offer both FX and CFD seminars on a regular basis.
In these seminars our team of analysts discuss a vast array of topics ranging from the fundamental basics of the financial markets to individual trading strategies. During the seminars, you will have the opportunity to interact with other traders.
Forex Tutorials and Articles
Forex trading is a continuous learning process. The more you study and learn, the less difficult trading will become. Reading online articles is a great way to develop your knowledge of FX trading, especially if you prefer learning from written words.
Generally speaking, this form of education is completely free, as long as you have internet access.
In the education section of Admiral Markets you will find free articles, guides and manuals published on a regular basis. These materials will help answer a lot of your questions related to financial markets, forex trading, strategies, tips and recommendations.
Forex Courses - Final Thoughts
To round things up, we would like to share some general tips to bear in mind when learning how to trade in the Forex Markets:
- There is a lot of information to learn about the Forex markets and it can be daunting - try not to get overwhelmed.
- Do not believe any of the courses out there that guarantee success or make promises which seem too good to be true. There is no set strategy which is guaranteed to make you a millionaire.
- Whilst you are working through your lessons, make your first trades on a risk-free demo account. Take your time and only progress to the real markets when you feel confident that you are ready.
- Once you feel ready to trade for real, be sure to only invest capital you can afford to lose. Trade with small sums to start with and increase slowly as and when you feel ready to do so.
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About Admiral Markets
Admiral Markets is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world's most popular trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today!
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.