Updated 31 August 2020
If you are thinking of getting involved in forex trading, taking an online course is a great place to start.
Whilst independent research is valuable, an online course allows you to gain a comprehensive introduction to the forex market whilst avoiding some of the costly mistakes beginner traders make.
Forex trading is particularly fast-paced and risky, so it is especially important to have a solid base knowledge before trading with your hard-earned cash.
In forex, traders make money through currency fluctuations. It is crucial to have an operational knowledge of investment strategies and predicting currency trends, as well as a logistical knowledge of brokers and trading platforms, spreads, transaction costs and leverage.
Understanding the risks involved and how to set up a forex risk management strategy – including stop-losses – is also integral to forex success over the long-term.
As an extremely volatile market, without adequate knowledge or training, it is easy to make large losses in forex very quickly.
Online forex courses are delivered in different ways, some as MOOC style courses, some with smaller cohorts and some with accompanying mentorship options.
The content may be wide-ranging to give a general introduction or tailored to focus on a particular technical aspect of forex trading. Prices vary, as does value for money.
It can be difficult to know where to start when looking for a course, particularly if you are very new to the subject area. This article will give a run-through of the 10 best online forex trading courses.
There are a wide variety of online courses available so it is important to review each offering carefully against certain criteria before deciding to invest your time and money.
Below are some of the main aspects to consider:
We all learn best in different ways, whether this is visually, aurally, through practical experience or with a more theoretical approach.
Some forex courses will deliver content via video and practical demonstrations, some through written explanations or a mixture of practical and theoretical tasks to work through.
Some may also have social/support platforms where students can learn from each other.
The online educational tools on offer will vary according to the course provider. Look for a course which appeals to your learning style.
An engaging course which delivers content in innovative ways will help to keep the learning experience enjoyable and hold your attention.
If you are investing in an online course, you’ll want to know that it’s being delivered by a reputable provider and taught by an experienced forex trader with demonstrable success in the forex market.
Credentials are key and should be carefully checked, as should the reliability and quality of the content they are delivering.
Before signing up to any course, ensure the offering is legitimate.
Cross-checking reviews from a variety of websites is a good way to confirm the veracity and quality of a course.
The aesthetics of a course website are often an indicator of the professionalism of the offering – spelling and grammar mistakes, odd formatting, illogical structuring or poor design are all red flags – but it is worth doing some background research on the provider and tutor to ensure you are placing your money and learning experience in reliable hands.
Check the content being offered carefully to see if it suits your needs.
Some courses are tailored to complete beginners, whilst others assume an existing level of forex knowledge.
It is sensible to conduct your research with an idea of the topics you would like to cover, then you can sense-check the course content against your expectations for a forex course.
You might want to focus on strengthening a particular aspect of your trading; if so, look for a course with tailored content.
Another important aspect to check is that the course is up to date. Content should be refreshed regularly to capture new developments and learning.
It is also worth seeing if the content is downloadable so you can learn on the move. If needs be, check that the course materials are optimised for and will open on mobile devices.
The best courses will provide a channel for you to ask questions before purchase. Make sure you ask any questions you have upfront to ensure you are signing up for the experience you expect and investing wisely in your forex future.
The best online courses create a reciprocal and active learning environment.
This is often achieved through chat rooms or support platforms that provide space for students to raise any questions in a safe space. This provides an invaluable opportunity to connect and learn from each other.
Check the access agreement to the course.
The most valuable courses provide access to the course after completion (sometimes lifetime access) so, if you ever need to, you can return and review what you have learned at a later date.
Some courses will also provide access to particular trading simulators or platforms. Look into the access being offered and whether this is in line with your expectations.
The one-on-one time you have with the course tutor will also differ greatly. It is good to know how much of the course will be delivered by the advertised tutor, whether they will be the one marking your tasks/overseeing your progress and how much of an opportunity there will be for interaction and personal feedback.
To help with your research, below is our list of the 10 best forex trading courses.
Whilst being the product of extensive research, it is recommended that you supplement this guidance with your own research to help you find the best course for your circumstances.
Best for: Beginner to Advanced traders
Ezekiel Chew the founder at Asia Forex Mentor isn’t your typical trainer. He is a recognized expert in the finance industry where he is frequently invited to speak at major financial events. His insights into the live market are highly sought after by retail traders.
Ezekiel is considered to be amongst the top traders around who actually care about giving back to the community. He makes six figures a trade in his own trading and, behind the scenes, Ezekiel trains the traders who work in banks, fund management companies and prop trading firms.
His highly regarded One Core Program teaches you how to trade not only forex but also stocks, commodities, crypto and more. To Ezekiel, it doesn’t matter what vehicle it is. It’s about trade selection and having various options opens up the best of the best trades.
The One Core Program covers:
The unique way he reads charts with a combination of price action and others.
His 16 high win rate strategies that work on every move the market makes.
The highly popular Road to Millions formula that turned many new traders into full-time traders.
The business behind trading, trade management methods, proprietary point calculation system and many more.
It’s no wonder that the One Core Program is considered one of the best trading courses around.
Best for: New traders
BizInTra’s beginner trading course helps new traders enter the forex market. The course teaches trading strategies and background knowledge, effective risk management and technical expertise on how trades are best executed.
The course contains four education training videos to help beginners grasp what trading in the forex market is like. These videos provide learning through live demonstrations.
The course also offers access to the BizInTra Internal Traders Network, which provides live Q&As and daily access to professional live traders. It also gives an introduction to getting the best out of BizInTra’s live trade review classes, which are held multiple times a week and provide live analysis of the markets.
The course also has some limited sponsored places available. This means that those without the funds to commit to the course have the chance to gain access to the expertise of seasoned traders and build their forex skills.
Best for: Those on a budget
Forex School Online offers an in-depth introduction to forex trading for beginners. The course is structured to deliver content step-by-step in a simple format and easy to digest chunks.
The course is educational but remains light in approach, testing knowledge through quizzes and helping to cement it through downloadable cheat sheets.
The course covers:
The course prides itself on having been updated and expanded over time to include the freshest knowledge for forex beginners.
Best for: Traders of all abilities looking to improve
Price: Not stated, enquires about the course to be made via an online contact form
The Successful Trader System: Online Forex Course teaches its students how to identify trading opportunities based on price action.
The course includes easy to follow training videos, daily trading suggestions and market analysis, weekly live trading room webinars and access to The Forex Trading Coach membership site.
The course is split into 15 lessons, each an average of 45 minutes in length.
The lesson topics include:
It also provides unlimited follow-on support to help sustain your development.
The Forex Trading Coach was established in 2009, making it one of the longest-running forex courses. The daily trade suggestions the site provides (which you will have access to for 12 months when signing up to this course) have been profitable every year since 2010.
Refreshingly, this course does not pretend that trading is easy or that taking the course is a quick-fix to making a fortune.
Instead, it claims to provide the knowledge and support which, alongside dedication and investment in your personal development, can enable you to become successful in trading forex.
It suggests that learning to trade using the systems taught can take between one and three months, with students taking the time to carefully absorb the knowledge provided by the course and regularly attending The Forex Trading Coach trading room webinars.
To enquire about signing up for the course, complete the contact box on the website.
Best for: Complete beginners on a budget
Price: Free, if you register for an FX Academy online account
FX Academy’s introductory course for complete forex beginners teaches the basics of forex, the motivations for choosing to trade in the forex market and the logistics of forex trading.
The course is split into the following six lessons:
Each lesson contains a short, animated tutorial video and a lesson quiz to test your knowledge. There is also a written transcript of the video’s text for those who prefer to learn by reading.
The lessons finish with some additional reading on the selected topic.
The FX Academy also offers more advanced courses, with the Introduction to Forex Trading course providing the background knowledge needed to progress to the higher-level courses.
Other more advanced courses on offer include:
A range of more technical courses include:
The wide range of courses on offer has the potential to greatly supplement and grow your knowledge of operational trading in the forex market.
Best for: Beginner traders
Price: £162 for lifetime access. Payment can also be made in US dollars ($199)
Further notes: Certificate of enrolment provided
This beginner course teaches those new to forex trading how the market works.
It looks at how economic factors impact currency values, how to analyse forex pairs and how to build strategies for long and short-term forex trades.
It also covers topics such as:
The course is divided into 60 lessons which are delivered through on-demand videos, exercises and interactive content.
Live examples of forex trades allow students to see the principles in action, whilst downloadable worksheets help to structure theoretical learning.
These lessons are split into the following overarching sections:
Lifetime access means that all lessons are available to re-watch whenever you need a refresh.
Best for: Developing your skills
Price: Initially free, there may be some paid features later
This Learn to Trade course gives a guide to finding, executing and automating successful trades, provides live currency trading experience, and investigates forex trading strategies. It also prioritises risk management and time efficiency when trading.
It explores four trading strategies which Learn to Trade refer to as the 180 Phase Change, the T Wave, the Forex Inter Bank Radar and the Money Market Breakout.
The course provides one-to-one coaching and has a graduate login area.
It appears that the starting point for this course is to enrol in Learn to Trade’s free two-hour workshop via their website.
Pricing information is not forthcoming, but it appears that initial sign up to Learn to Trade’s package is free. The Learn Forex Kit is also available free of charge.
More interactive training and mentor support seems to require payment. Ensure you understand all costs up-front before committing to further learning.
Best for: Long-term investment
Price: Payment is taken as membership to the platform and includes the 14-day course. Lifetime access is £800 or can be paid in monthly installments of £97 over 12 months.
Six Figure Capital’s Master the Art and Science of Trading 14-day course claims to teach you how to profit from the natural order of financial markets.
It is designed for all experience levels and teaches practical expertise to save beginner/intermediate traders both time and money learning the forex market.
The course content is delivered through 19 videos spread across the two weeks, with a new overarching topic daily. This delivery model aims to hold attention and maintain enthusiasm, without becoming overwhelming.
It features live trading sessions, allowing you to gain real-time forex trading experience.
Access to four bonus modules and extra material such as e-books and spreadsheets is included.
The course offers access to a private Slack community for networking and learning from fellow course mates.
The lifetime membership also gives access to any future updates to the course material and ongoing support.
As a membership platform, Six Figure Capital provides access to a forex trading community and the support that this structure brings.
Best for: Big investors in their forex education
Price: Professional Forex Trader course – $5,500; XLT – Forex Trading course – $9,350 for the first three months and $700/month each month thereafter; or $13,750 for the first three months and the ability to retake the class for life.
Trading Academy offers different forex trading courses depending on your level of expertise.
These are the introductory Professional Forex Trader course, and XLT – Forex Trading, an advanced course to be taken on completion of the first.
The Professional Forex Trader course is designed for traders at all experience levels who are serious about improving their forex performance.
It teaches you about currency pairs, conducting technical analysis so you can track and capitalize on market movements, and helps you to build a personalised trading plan with performance benchmarks.
As the course is split into ten three-hour sessions, the workload is heavy but targeted.
Each session contains two or three interactive lectures and one or two live trading or analysis sub-sessions, depending on the topic.
Class sizes are small, with a maximum of 22 students, which allows the course tutor to provide individual attention to all.
To enrol onto the course, students must first attend a free introductory class. They will then need to complete an Online Student Orientation and a Platform Orientation.
The more advanced XLT – Forex Trading course focuses on how to implement a forex trading strategy, how to recognise market turning points and understanding forex futures.
Best for: Forex beginners looking for a comprehensive start
Price: Usually £44.99 (appears to sometimes be on sale for £19.99)
Further notes: Comes with a 30-day money-back guarantee, certificate of completion included
This forex trading course by Udemy offers beginners the background knowledge they need to start forex trading. It covers the detail of forex basics such as currencies, charts, short-selling and explains forex brokers.
It also provides information on how to stay up to date with economic news via a calendar of economic events.
The course content is split into nine sections:
You can view the titles of the content sub-sections on the website.
In terms of content delivery, this course is heavily delivered via video. The topic sections contain a total of 57 short video lectures, making up 5h 20m in total length. Content is accessible on mobile and TV devices to allow for flexible learning.
The course provides full lifetime access and all additional future lectures and bonuses will be available free of charge to students who have taken the course.
The course appears to have hands-on support, with the tutor available to contact if you are stuck or have any questions.
Due to the breadth of the course, some students feel that some detail is missed (such as in the live trading sessions) but also claim that this was not a major problem overall. Achieving a balanced compromise between content scope and detail is something every online course contends with.
Best for: Automated trading (those who want to use forex robots)
Price: Usually £44.99 (appears to sometimes be on sale for £18.99)
Further notes: Comes with a 30-day money-back guarantee, certificate of completion included
This course includes a forex robot for you to practice on a demo account and reveals techniques you can apply when using any forex robot.
You will learn how to optimise and perform back and forward tests of forex robots, as well as apply stability criteria.
You will also learn how to comprehensively use MetaTrader 4 (MT4) with topics covering:
The course is split into six sections:
Again, content sub-sections can be viewed on the website. It consists of 44 bite-sized lectures, making up a total of 5h 19 of learning.
The course comes with full lifetime access and accessibility via mobile and TV devices.
An online forex trading course is an excellent starting point for boosting your forex knowledge and improving your trading.
Course content is delivered in easy to follow sections arranged in a logical manner and students benefit from the expertise of professional forex traders and access to live trading demonstrations. This saves both time and money when compared to relying on independent forex research.
From our research into forex courses, the most highly reviewed course providers deliver their material through a membership-style platform. This creates a supportive community, delivering regularly updated content and an evolving learning process that ensures you are supported well beyond the length of the original course offer.
Lifetime access to a course is repeatedly found to be particularly valuable as it means you can return to review the material.
Interaction with the course tutor during the course and follow-on support after completion sets courses apart and helps to ensure trading success over the long-term.
Choosing the right forex trading course for you will be a personal choice based on your own criteria and learning preferences.
It is worth remembering that all paid course websites are trying to sell you their particular course, so researching independent reviews and gaining insight into the experience of previous students is invaluable. It is important to make an informed decision on which course to invest your time and money.
Taking an online trading course should only be the beginning of your forex education. To be successful in the market long-term, you should continue to be an active learner, keeping up to date with economic news and developments that may impact and require a refresh of your trading strategies.
*WikiJob does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.
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