What is the best forex trading course?
The foreign exchange market (forex market) is the most liquid financial market in the world. Successful forex traders earn ridiculous sums of money by playing the volatility in this high-stakes financial arena. Others have failed miserably.
One of the key factors that determine your level of success in the industry is your level of education.
No, you don’t have to get a doctorate degree to be a successful forex trader. You don’t need a degree at all. What you do need is a willingness to learn and use the tools available to you. One of the most effective tools to learn forex trading is online courses.
The Best Forex Trading Courses
Our pick for the overall best forex trading course was chosen because it does several things well. The platform has something useful for you whether you’re a new trader or an experienced one. The course also comes with mentorship from multiple successful traders and a reasonable price tag.
Other forex courses on this list earned their spot because they do one or two things very well. For example, some provide intuitive crash courses that teach you all the basics quickly, while others offer a more detailed, long-term approach to forex education.
1. Best Overall: ForexSignals.com
ForexSignals.com was founded in 2012 by Nick McDonald. McDonald is a successful trader with decades of experience in the industry. He teamed up with four mentors — Andrew Lockwood, Max Norbury, Shain Vernier, and Scott Greer — who have more than 60 years of combined forex trading experience among them.
The service was designed for learners of all stages and gives you the opportunity to learn at your own pace. The service teaches you everything from the basics like how to find opportunities, place trades, and practice effective risk management to detailed trading strategies, technical indicators, and technical analysis concepts.
Your educational journey with ForexSignals.com starts with more than 300 hours of video lessons that cover all the bases. As you learn, you can join the live trading room where mentors trade in real-time while sharing their trade ideas and teaching you how to find and execute profitable trades. This live chat room is a great place to follow the price action, learn how to trade, and get your questions answered.
Members also have access to live group webinars and, with the two most comprehensive learning packages, you get one-on-one mentorship from the mentors on the platform.
The price of the service ranges from $58 per month to $312 per year. The $312-per-year package, known as the Professional Plan, gives you priority access to the mentors and is well worth the investment, although the $58-per-month plan is perfectly fine if you’re a new trader and just want to test the forex waters.
2. Best for New Traders: Forex 101 From Benzinga Courses
Benzinga is one of the most trusted sources of financial media online today, and it employs some of the most advanced traders in financial markets. Why not learn from the best?
The company’s Forex 101 course is the perfect crash course if you have little to no trading experience and want a comprehensive rundown of what’s involved in forex trading. The course material includes all the basics of currency trading and the evolution that led to the forex market as we know it today.
The course also teaches you how to use a few different trading strategies, how to manage risk, how to use technical indicators like Fibonacci retracement levels, and even how to use the popular forex trading platform TradingView.
- Video Lessons. The lessons are easy-to-digest videos broken down into small bits of information meant to be consumed over time. This makes it easy for you to focus on each individual lesson in its entirety before moving on to a new concept.
- Low Price. You pay a one-time $47 fee for lifetime access to the course.
- Learn at Your Own Pace. Watch course videos on demand as much as you need to and learn at your own pace.
3. Best for Comprehensive Forex Education: Asia Forex Mentor – One Core Program
Asia Forex Mentor was founded by Ezekiel Chew, a successful trader with more than 20 years of experience. He founded the platform based on his own success as a forex trader, after which he found himself training institutional traders on his market analysis methods.
His course, the One Core Program, features 26 comprehensive lessons with more than 60 subsections of content and provides one of the most comprehensive guides to the currency market online today. In this training course you’ll learn how to trade forex, spot patterns like a pro, manage risk, and analyze the market using the same methods that have made Chew millions of dollars.
Chew’s lessons are easy to follow, even if you’re a beginner. They’re also so thorough that even experts will learn something. Perhaps that’s why institutional traders have paid him the big bucks to personally mentor them.
- Video Lessons. All lessons are provided in a high-quality, easy-to-digest video format.
- Lifetime Access. You get lifetime access to the course for a one-time payment of $997 after a seven-day free trial. You can also save $57 by deciding to waive the free trial.
- The Golden Eye Group. Take part in weekly live streams of Chew analyzing the market for an additional $118 per month or $1,200 per year.
4. Best for Learning What You Want to Learn: Udemy Courses
Udemy isn’t a trading academy. Instead, it’s a website that hosts courses on a wide variety of topics; forex trading is just one of many. Educators create, publish, and sell their own courses through the platform.
This means there are some comprehensive courses as well as other courses that focus on one or two areas of forex trading. There are courses about a wide range of forex trading strategies as well as courses about specific strategies like swing trading. You can also learn about topics like technical and fundamental analysis, spotting patterns and trade setups, and developing a trading strategy that fits your objectives and risk tolerance.
The best part is that you pay a small fee to access each course on an a-la-carte basis, so you won’t pay to learn something you already know.
- Courses on a Wide Range of Topics. There are countless courses to choose from on various areas of investing, trading, and personal finance.
- Low Cost. The course producer sets the price of each course, but most of them are $20 or less.
- Refund Policy. Educators and course producers on the platform must stand behind their work. If you’re not happy with a course for any reason, simply request a refund and you won’t pay for it.
5. Best for Shortening the Learning Curve: Six Figure Capital
Six Figure Capital was developed by Lewis Glasgow, a professional forex trader who’s earned international acclaim for his trading methods. Glasgow knows that for many, the forex trading learning curve is a long and arduous one, and he developed a 14-day course to significantly reduce the curve.
The entire course features 19 videos, but it’s far more intuitive than you might expect. The course presents a new topic each day. By the end of the course, you know how the forex market works, how to analyze the market, and how to trade while managing risks.
Of course, you’re still going to make some mistakes along the way, but the course helps you avoid some of the biggest ones.
- Multi-Asset Strategy. Glasgow’s strategy can be used to effectively trade currencies, commodities, and cryptocurrencies.
- Live Trading Sessions. Take part in daily live trading sessions and trade with Glasgow to see what you’ve learned in real-life action.
- Private Slack Community Access. Chat with like-minded traders, get trade ideas, and get your questions answered in Six Figure Capital’s private Slack chat room.
Best for Daily Live Trading Sessions: Traders Academy Club
Traders Academy Club was developed by Vladimir Ribakov. Ribakov has made millions of dollars in his trading career and shares his unique method with his students at the Traders Academy Club.
Most forex trading academies also offer live trading rooms where students can watch their mentors trade in real-time. Traders Academy Club is no different. What is different is how well Ribakov does it.
You’d expect Ribakov to be successful, and as you watch him trade, you’ll see that he is. However, he’s also very entertaining. It’s fun to listen as he explains the different trading tools he uses, bringing a breath of fresh air to trading education.
His live trading room is one of the best I’ve ever experienced and well worth the $279 per year you’ll pay to take part in his educational service.
- Media Zone. Access hundreds of recorded webinars about various forex trading topics.
- Instructor Support. Instructor support is available via chat or email all day, every day.
- Education for All Experience Levels. Ribakov’s educational materials are so comprehensive that even expert traders will find something of value. However, they’re also easy to understand, so beginners won’t have any issues.
Methodology: How We Select the Best Forex Trading Courses
We used five metrics to determine which companies offer the best online forex trading courses. In particular, we focused on the quality of course material, user experience, price, target audience, and real consumer reviews.
The best forex trading course on the list, ForexSignals.com, hit every single nail on the head, although the other courses on the list still ranked highly in most if not all categories. Here’s how we gauged which forex trading courses deserved to be called the best:
When you sign up for a forex trading course, or any other educational course, the quality of the education you receive is of the utmost importance. We vetted multiple forex education sources, paying close attention to the course materials provided.
In doing so, we made sure the materials offered were easy to understand while offering value to traders of all experience levels.
We also gave brownie points to services that offered live trading sessions and access to mentors as part of their educational materials.
We looked at website layouts, watched educational videos, and dug around websites to see if we could find answers to our questions when gauging the user experience of each of the trading courses we reviewed.
In particular, we ranked websites higher when the personalities in videos and in trading rooms made learning fun. We also ranked companies higher that made it easy to navigate their websites and find what you’re looking for when you need it.
Everything comes at a price and forex trading courses are no different. There are a few free courses out there, but we haven’t come across free options that provide the comprehensive level of education the courses listed above provide.
Although you will have to shell out a few bucks to take part in the best courses, we didn’t list any that have exorbitant price tags.
You get what you pay for, but at some point, you’re just throwing money into the wind. We set that point at about $1,000 for lifetime access or $100 per month. There are several options mentioned on our list with price tags that are far lower.
Most forex trading courses are designed for beginner traders. However, all the courses mentioned above have something of value for beginner and intermediate traders. Some of the courses, including ForexSignals.com, are valuable even for experienced traders.
Real Consumer Reviews
Anyone can write a review, and many of the reviews you find online are either unhelpful or sponsored by the company providing the service.
We read several real reviews from real customers of the services we listed under the premise that if the majority of reviewers had a positive experience, our readers would likely experience more of the same when they signed up.
Forex Trading Course FAQs (Frequently Asked Questions)
Questions are the building blocks of wisdom, and a wise trader often becomes a successful trader. So, don’t be shy if you have questions. Here are answers to some of the top questions about forex trading courses:
How Much Does It Cost to Learn Forex?
Quality forex trading courses range in price from around $40 to thousands of dollars. However, we found that most quality courses don’t charge exorbitant prices. You should be able to learn everything you need to know to get started for $1,000 or less.
Are Online Forex Trading Courses Worth the Money?
Every course is different, and some are worth the fees they charge while others aren’t. We can say that all the courses mentioned on the list above are worth the money they cost.
How Long Does It Take to Learn Forex?
The most successful traders never stop learning. So, you’ll be learning forex for the rest of your life. You can learn enough about the market, strategies, and managing risk to start making trades in anywhere from a couple of weeks to a couple of months with the right course.
Will Forex Make You Rich?
Forex does have the potential to make you rich if you’re an unusually talented trader. However, that seems to be the theme in most areas. Baseball makes extremely talented players very rich too, but most people who play the sport never become Major League superstars.
It’s best to get into forex with reasonable goals, starting out with making small first profits and potentially growing those profits into a meaningful income.
How to Choose the Best Forex Trading Course
If you’re ready to start your forex trading journey, it’s best to start by enrolling in a course or two to learn the ropes. Consider the following as you choose the best course for you:
- Quality of Education. You don’t want to pay anything for poor-quality educational materials, not even $1. Inaccurate or confusing learning materials actually set you farther behind. Do a little research to see what the pros are saying about the quality of education the course provides.
- Price. If you spend all your money learning how to trade forex, you won’t have any capital to actually start trading with. Look for quality courses with reasonable price tags.
- Your Experience. Are you a beginner who’s never seen a currency pair or an intermediate or pro trader who wants to take your career to the next level? The course you choose should match your level of experience and your goals.
- Course Developer. Don’t take a trading course from someone who’s never traded a day in their life. Always look into the brain behind the course and make sure they’ve got a strong track record in space.
- Consumer Reviews. Finally, look for consumer reviews. If the vast majority of consumers enjoyed the course, chances are you will too.