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80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. *CFD trading via Plus500’s demo account.

10 Best Websites for Beginners to Learn Forex Trading (2024)

10 Best Websites for Beginners to Learn Forex Trading (2024)

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80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. *CFD trading via Plus500’s demo account.

Trading on the foreign exchange market, or forex trading as it is more commonly referred to, takes a considerable amount of skill and knowledge.

For beginner traders, there’s a lot to learn, from basic concepts to trading strategies, risk management and platform familiarisation.

Once you’ve built the confidence to begin trading, you’ll then need to stay on top of market trends, economic news and global events that may impact the market. You’ll also want to continually improve your trading skills, learning how to successfully execute increasingly profitable trades.

Thankfully, there is a huge amount of information available online and it is relatively easy for beginner and experienced traders alike to find all they need to know with a little bit of research.

You’ll want to be sure that the sources you turn to are legitimate and trustworthy. Whether you’re looking for news, technical analysis, strategy guidance or educational resources, it’s vital that the sites you use are reputable.

To help you get started, here is our list of 10 of the best forex websites available.

A List of the Top Websites to Learn Forex Trading (June 2024)

The following top forex trading websites include those providing news, education, analysis and trading tools to help you learn more about online forex trading.

For a successful trading career, it’s best to use several in conjunction with one another.

Here are our top picks:

  1. Plus500 (CFD)
  2. Asia Forex Mentor
  3. AvaTrade
  4. IG
  5. eToro Trading School
  6. ForexSignals.com – Trading Room
  7. Saxo
  8. XTB
  9. ActivTrades
  10. How to Trade

Comparison Chart of the Best Websites to Learn Forex Trading for June 2024

Company

Alt text

Type of Learning

CFD broker platform

Beginner-Friendly

Yes

Comprehensive Material

No

Interactive Learning

No

Price

N/A

Plus500 (CFD)

Company

Alt text

Type of Learning

Online Courses

Beginner-Friendly

Yes

Comprehensive Material

Yes

Interactive Learning

Yes

Price

Paid Courses

Asia Forex Mentor

Company

AvaTrade Logo

Type of Learning

Broker Platform

Beginner-Friendly

Yes

Comprehensive Material

No

Interactive Learning

No

Price

N/A

AvaTrade

Company

Alt text

Type of Learning

Broker Platform

Beginner-Friendly

Yes

Comprehensive Material

No

Interactive Learning

No

Price

N/A

IG

Company

Alt text

Type of Learning

Online Courses

Beginner-Friendly

Yes

Comprehensive Material

Yes

Interactive Learning

Yes

Price

Free

eToro Trading School

Company

ForexSignals

Type of Learning

Forex Signals & Education

Beginner-Friendly

Yes

Comprehensive Material

Yes

Interactive Learning

Yes

Price

Paid Membership

ForexSignals.com – Trading Room

Company

Saxo

Type of Learning

Varies

Beginner-Friendly

Yes

Comprehensive Material

Yes

Interactive Learning

Yes

Price

N/A

Saxo

Company

Alt text

Type of Learning

Broker Platform

Beginner-Friendly

Yes

Comprehensive Material

No

Interactive Learning

No

Price

N/A

XTB

Company

ActivTrades

Type of Learning

Online Courses

Beginner-Friendly

Yes

Comprehensive Material

Yes

Interactive Learning

Yes

Price

Free

ActivTrades

Company

Alt text

Type of Learning

Online Courses

Beginner-Friendly

Yes

Comprehensive Material

Yes

Interactive Learning

Yes

Price

Paid Courses

How to Trade

Description of the Best Websites to Learn Forex Trading for June 2024

1. Plus500 (CFD)

Pros

  • No buy/sell commissions and tight spreads
  • Leverage of up to 1:30
  • FREE unlimited Demo
  • 2,800+ trading instruments
  • offers CFDs on 71 forex pairs
  • offers CFDs on stocks among other asset classes
  • Real-time quotes and advanced analytical tools
  • Fast and reliable order execution

Cons

  • No API integrations
  • No social copy trading

Plus500 was founded in 2008, and is considered to be a high-trust broker because not only is it regulated by top-tier bodies like the FCA in the UK and ASIC in Australia, but it is also listed on the London Stock Exchange.

Plus500 offers CFDs on 71 forex pairs, stocks, and other instruments. You can trade using its proprietary platform, which is available as a desktop download, a web trader and a useful, well-designed and streamlined mobile app.

Deposits and withdrawals are fast and free, and you can use a bank transfer, eWallets, and credit or debit cards to fund your account.

The minimum deposit is quite high, however, at £100.

The trading fees are about average, so there is not too much cost involved with making trades or maintaining an account at Plus500.

Plus500 does not offer access to platforms like MetaTrader, but it does have a proprietary platform called Web Trader that is simple and easy to use with a range of charting options and trading tools.

However, for those who like a lot of research in their trading apps, Web Trader and Plus500 as a whole does not provide that much detailed information.

For beginner traders, Plus500 does have a demo account where you can practice trading without risking your own capital, and the Trading Academy has a reasonable amount of educational material in the form of videos, eBooks and articles.

There is also a Traders Guide which has some further learning resources.

Visit Plus500 (CFD)

80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. *CFD trading via Plus500’s demo account.

2. Asia Forex Mentor

Pros

  • Multiple lessons spread over video format
  • High quality
  • Self-paced with lifetime access
  • Covers a wide range of lesson topics
  • Useful examples throughout the course

Cons

  • Those who have already traded could struggle to grasp Mr Chew’s way of thinking
  • Expensive

Best for: Beginner to Advanced traders
Price: $997

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.

Visit Asia Forex Mentor

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. AvaTrade

Pros

  • Worldwide regulated
  • Multiple platforms – MT4, MT5, etc.
  • Negative balance protection
  • 20% welcome bonus
  • Educational content
  • Wide rage of payments methods
  • Fixed spreads

Cons

  • You can’t buy stocks
  • Quarterly and annual inactivity fees
  • Custumer support is not available 24/7
  • No bonus for EU based clients
  • No US clients accepted
  • Imitated crypto assets

AvaTrade is a CFD Regulated broker with +1,000 financial instruments and multiple trading platforms. It has been operating since 2006.

It offers a 20% welcome bonus up to $10,000, according to regulation and a free 21-day demo account with $100,000.

Instruments include:

  • Metals
  • Commodities
  • Stocks
  • FX Options
  • Oil
  • ETFs
  • Options
  • Crypto currencies
  • CFDs
  • Indexes
  • Shares
  • Spread betting
  • Indices
  • Forex
  • Bonds

AVATrade EU Ltd is regulated by the Central Bank of Ireland. (No.C53877) Ava Trade Markets Ltd. is regulated by the B.V.I Financial Services Commission. It is also highly regulated in Australia, South Africa, Japan, Middle East, Cyprus and Israel

You can not trade with AvaTrade in the US, North Korea, New Zealand, Iran or Belgium.

Mínimum deposit of $100, no withdraw limit and no fees.

Visit AvaTrade

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

4. IG

Pros

  • Highly regulated
  • MetaTrader 4 (MT4)
  • Over 10,000 instruments
  • Available in the UK and US
  • 24/7 customer support

Cons

  • High fees
  • No deposit compensation scheme for US accounts
  • No copy trading
  • Inactivity fees

IG invented spread betting in 1974 and today is the world’s leading online trading provider with more traders trusting them with their money than anyone else

IG is authorised and regulated by the FCA and provides traders access to over 18,000 markets. IG offers more 24-hour indices than any other provider, and extended hours on over 70 key US stocks 

For those who prefer to own the underlying asset, IG offers access to over 13,000 global shares and ETFs, or a wealth portfolio managed by one of their experts. 

Benefits:

  • Advanced platform and charting – L2 dealer, ProRealTime and MT4
  • Demo account
  • Extended trading hours
  • Extensive range of products
  • Daily expert analysis & educational resources
  • Round-the-clock customer service
  • Negative balance protection for retail clients

Based on revenue (published financial statements, October 2022). 24/7 excludes the hours from 10 pm Friday to 8 am Saturday (UK time), and 20 minutes just before the weekday market opens on Sunday night. 

Visit IG

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of IG retail investor accounts lose money when trading spread bets and CFDs with IG. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

5. eToro Trading School

Pros

  • Options for classroom-based or online learning
  • Useful insights for beginner traders

Cons

  • Classroom course requires payment

Best for: Multi market overview

The one-day eToro Trading School course covers multiple trading areas including forex, cryptocurrency and stocks.

In-person education is delivered by Henry Ward, a professional trader with over 10 years’ experience under his belt.

Though the course claims to be suitable for traders of all levels, the content is well suited to beginner traders, or those looking to learn more before dipping their toes into the water.

You’ll have an introduction to the financial markets, learn essential key terms and what they represent, and walk through the fundamental principles of trading.

Perhaps the most useful element of the course for beginners is the introduction of trading personalities. This should help you identify what type of trader you are and determine the most appropriate styles to suit.

In addition to the classroom-based course, held in London’s Canary Wharf, there’s also a library of webinars and podcasts for those interested in distance learning.

To find out more, read our eToro review.

Visit eToro Trading School

76% of retail investor accounts lose money when trading CFDs with eToro. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take two mins to learn more.

6. ForexSignals.com – Trading Room

Pros

  • Free trial available
  • Daily live streams and market analysis
  • Insights from trading mentors
  • Community of fellow traders to discuss ideas with
  • Online video library for education

Cons

  • Requires monthly subscription (different tiers) to maintain access
  • May not offer much value to advanced traders

Best for: Live streams, strategies and pro mentorship

ForexSignals.com is one of the oldest and most well-known trading education platforms out there. A serious contender for those searching for a reputable place to learn about forex trading; and its thousands of 5-star reviews confirm this.

Inside its easy-to-use Trading Room, you'll find three professional trading mentors with over 50 years of experience teaching traders of all levels how to read, understand and trade the financial markets.

Membership to the Trading Room starts at just $47 per month and you'll get access to:

  • 5 daily live streams with real-time market commentary
  • 1 on 1s with professional trading mentors
  • Strategies for you to learn and apply
  • Trading tools and EA packages
  • Daily trade ideas and analysis
  • 350+ hours of educational video lessons
  • 24/7 live chat with fellow traders

It's easy to see why 83,000 use ForexSignals.com as the go-to place for education and real-time market opportunities.

Visit ForexSignals.com – Trading Room

7. Saxo

Pros

  • Heavily regulated
  • Good product portfolio
  • Low forex fees
  • No withdrawal or inactivity fees

Cons

  • Does not accept US clients
  • High fees for options, futures and bonds

Saxo is considered one of the best websites for beginners to learn forex trading due to its comprehensive suite of educational resources and user-friendly trading platforms.

Saxo provides an extensive range of educational materials designed to help beginners understand the basics of forex trading and the financial markets. These resources include webinars, video tutorials, and articles that cover essential topics from forex fundamentals to advanced trading strategies.

Saxo offers several trading platforms, including SaxoTraderGO and SaxoTraderPRO, which are designed with user experience in mind. These platforms feature intuitive interfaces that make it easier for beginners to navigate and manage their trades. Additionally, the platforms offer various tools such as charting, technical analysis, and risk management features that are vital for effective trading.

Beginners can benefit from practicing their trading skills in a risk-free environment using Saxo’s demo account. This allows new traders to get accustomed to the platform and experiment with different trading strategies without the risk of losing real money.

Saxo provides robust customer support through multiple channels including live chat, phone, and email. This ensures that beginners can receive timely assistance and guidance on using the platforms or understanding the markets.

As a fully regulated bank, Saxo offers a secure and trustworthy environment for trading. This is crucial for beginners who need reassurance that their investments are protected.

Visit Saxo

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits on some products.

8. XTB

Pros

  • Regulated by the FCA
  • Low forex fees
  • Fast withdrawal and deposit with no fee
  • Live chat customer service

Cons

  • No US clients
  • Limited product portfolio
  • High fees for stock CFDs

As a broker that you can trust, XTB is both well-regulated and listed on the stock exchange. The registered office is in Canary Wharf, London.

XTB offers investors and traders the opportunity to trade commodities, stocks, metals, forex, indices and cryptocurrencies, as well as ETFs and CFDs, and it is regulated in top-tier jurisdictions by FCA, CySEC, IFSEC and KNF.

Traders can easily open an account online and can choose between the commission-free Standard account or the Pro account that includes tighter spreads, but there is a commission that needs to be paid on all trades.

Deciding what platform to use to make your trades depends on your location – in most countries, you can choose MetaTrader 4 or the proprietary platform xStation (although MT4 is not available to UK customers).

XTB is a great choice for beginners thanks to the huge range of educational materials, categorized by level (beginner, intermediate and advanced) and the customer service options that are available only on weekdays.

There is a fully functional demo account so beginners can practice strategies and get used to using the platforms.

The more experienced trader will enjoy a huge range of research resources, including trading signals, technical analysis, details about different instruments, and even a heat map and market sentiments.

Visit XTB

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

9. ActivTrades

Pros

  • No minimum first-time deposit
  • Optimal trading execution
  • More than 1,000 CFDs
  • State-of-the-art trading infrastructure
  • Customer support on 14 languages via email, chat and telephone

Cons

  • No copy trading
  • Not available for US clients
  • No bonus for EU based clients

ActivTrades is a traditional CFD broker and has been trading for more than 20 years on 140 markets. ActivTrades is authorized and regulated by the FCA, CSSF and SCB.

Its strong points include:

  • No minimum first-time deposit
  • No commissions
  • Several payment methods for deposits and withdrawals
  • Tight spreads from 0.5 pips

It offers one of the best execution speeds in the industry with low latency below 0.004s.

It utilizes the most advanced technology to improve users' trading efficiency – users can automate trades, build integrations and create trading apps using ActivTrades' market-leading CFD and spread betting technology.

Exceptional trading infrastructure is available on ActivTrader and MetaTrader 4 and 5.

ActivTrades invests deeply in specially developed educational materials for its clients – including webinars, regular outlooks, manuals, etc.

Type of offers: ActivTrades focuses on well-developed products in its trading portfolio. Customers can choose from over 1,000 CFD or spread betting instruments across forex, indices, shares, commodities, financials and ETFs.

It also offers investing solutions for its institutional partners.

Spread betting allows UK residents ONLY to trade the prices of financial instruments, including forex, indices, commodities and LSE shares.

Visit ActivTrades

Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread betting and CFDs work and whether you can afford to take the high risk of losing your money.

10. How to Trade

Pros

  • Learn at your own pace
  • Video lessons cover a wide range of topics
  • Both free and paid-for courses are available to suit different preferences

Cons

  • Requires paid subscription to maintain Trading Room access (various tiers available)

Providing a trading education that is designed to take you from the basics through to the advanced strategy, How to Trade has a wealth of world-class educational resources.

There are more than 50 free trading lessons, designed by globally recognised mentors, and when you complete them, you will receive a certificate. You can expect the free courses to include both forex and stocks education – from a basic introduction through to charts, technical analysis, indicators, risk management and psychology.

Alongside the free courses, there is premium content that comes with membership of the Trading Room. There are three different membership levels, with increasing benefits as the price goes up. Every level includes access to the Trading Room, all the premium content in the modular video academy, daily live trading sessions, trade sentiment analysis, weekly hot pick analysis, real time global news stream, live interactive workshops and access to pro trader tools.

The different pricing structures are as follows:

  • The Apprentice – £77 per month, billed monthly. Includes one month access to the Trading Room.
  • The Committed – £39 per month, billed six monthly. Includes six months access to the Trading Room. This also includes exclusive brokerage access and one-on-one with a mentor.
  • The Professional – £36 per month, billed annually. Includes a year’s access to the Trading Room, all the features of the Apprentice and Committed subscription, but also a direct line to the mentors, the Trend Surfing Expert Advisor, and a license key to Forex Tester 5.

Visit How to Trade

What Can You Learn on a Forex Trading Course?

A forex trading course is designed to teach individuals how to trade forex or foreign exchange.

Here are some of the things you can expect to learn from a forex trading course:

Forex Basics

A forex trading course that covers forex basics will introduce you to the fundamental concepts of forex trading, including currency pairs and their characteristics, the mechanics of the forex market, and the different trading sessions that operate around the clock.

You will learn about the role of central banks in the forex market, the factors that influence currency exchange rates and the economic indicators that traders use to make informed trading decisions.

Understanding these foundational concepts is crucial to becoming a successful forex trader, and a good course will provide you with a solid grounding in these principles.

Technical Analysis

You will learn about different types of charts, including line, bar and candlestick charts, and how to read them effectively.

In addition, you will learn how to identify and analyze trends in the market, and how to use various technical indicators, such as moving averages, RSI, MACD and Bollinger Bands, to identify potential entry and exit points.

Technical analysis will also teach you how to use chart patterns, such as triangles, head and shoulders and double tops and bottoms, to identify potential trading opportunities.

Finally, you will learn how to backtest your trading strategies using historical data, and how to use this information to refine and improve your approach over time.

Fundamental Analysis

Fundamental analysis is a crucial aspect of forex trading that involves analyzing economic and financial data to determine the intrinsic value of an asset.

A good forex trading course can teach you how to analyze economic indicators, news events and other factors that can impact the forex market.

A comprehensive forex course may also cover the various methods of fundamental analysis, such as the top-down and bottom-up approaches, and how to apply them in real-world trading situations.

Trading Strategies

You will learn about popular trading strategies such as scalping, day trading, swing trading and position trading, as well as more advanced strategies such as carry trading and algorithmic trading.

Additionally, a good forex trading course will help you develop your own unique trading strategy, based on your strengths and weaknesses as a trader, your risk management approach and your trading goals.

The course should also cover backtesting and optimization techniques, to help you test and refine your trading strategy before applying it to real-world trading.

Risk Management

These courses will teach you how to manage risk by setting stop-loss orders, using proper position sizing and other risk management techniques.

It's essential to understand that forex trading is a high-risk activity, and losses are inevitable. By taking a forex trading course, you'll learn how to manage these risks properly, so you don't lose more than you can afford to.

Trading Psychology

A forex trading course can teach you how to develop the right mindset for trading by focusing on trading psychology.

It will help you understand the common mistakes traders make, such as overtrading, revenge trading and being too emotional.

You'll learn how to avoid these pitfalls and maintain a disciplined and patient approach to trading.

Additionally, you'll learn how to manage stress and stay focused on your trading goals.

Understanding trading psychology is critical to achieving success in the forex market, and a good trading course will help you develop the right mindset to be a successful trader.

Frequently Asked Questions

If you are looking for a website or program which is suitable for a complete trading novice, then Asia Forex Mentor is a good choice.

However, it isn't specifically designed to provide news. If you are looking for a website that only offers forex news, then Forex Live or Forex Trading Asia might be better options.

The platform that you choose for your news and updates will largely depend on your needs.

ForexSignals is one of the oldest and most well-known trading platforms for news and education.

If you are looking for a website that is similar to Admirals, then it is work considering alternatives such as:

74% of retail investor accounts lose money when trading CFDs with this provider. Don’t invest in unless you’re prepared to lose all the money you invest.

The cost of a forex trading course can vary greatly depending on the type, duration and level of the course.

Some courses are offered for free, while others can cost thousands of dollars.

Typically, online courses are less expensive than in-person courses or private coaching sessions.

The cost of a forex trading course may also depend on the provider and the materials included. Some courses may offer additional resources such as e-books, webinars and live trading sessions, which may affect the price.

One of the best ways to learn about trading is through practice. This is why many platforms will allow users to access demo accounts.

This way, you can put into practice the skills that you have learned and create strategies without the risk of losing real money.

74% of retail investor accounts lose money when trading CFDs with this provider. Don’t invest in unless you’re prepared to lose all the money you invest.

The exact website that is best for you will largely depend on your needs and the type of trading that you hope to do. There will be some which are better suited to day trading, others will be targeted to long-term strategies.

Some of the best platforms for beginners are:

74% of retail investor accounts lose money when trading CFDs with this provider. Don’t invest in unless you’re prepared to lose all the money you invest.

There are several apps and websites that you can use to keep up to date with the latest Forex news. Some of these will require a subscription. Others will allow users to access their information for free.

Some of the best websites and apps for trading news include:

  • Bloomberg Business mobile app
  • Reuters
  • Trade Interceptor

MetaTrader and eToro are widely considered to be among the best websites to get Forex signals.

74% of retail investor accounts lose money when trading CFDs with this provider. Don’t invest in unless you’re prepared to lose all the money you invest.

eToro is widely considered to be the most user-friendly trading platform in the UK and offers a wide variety of options for trading on their demo platform.

There is no hard and fast way of predicting which currency pairs will perform best each day. You can, however, use websites such as ForexFactory and DailyFx to keep track of the trends and news within the markets.

Forex.com is widely considered to be the biggest trading website. Traders on this platform perform over $15 billion in daily transactions.

Final Thoughts

There are so many websites for forex news and education that it can be difficult to know which ones you can trust, and which ones are best avoided. Hopefully, the above list has provided you with a variety of reputable sources with which to start or progress your forex trading journey.

As mentioned, it’s best to use several of these sites to ensure you’re covering all the basics when it comes to learning about forex trading.

For beginners, it’s advisable to start with basic educational content before moving on to market research and using trading tools. That way, you’ll fully understand how what you’re reading and the tools your using can help you make better-informed trading decisions.

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.

80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. *CFD trading via Plus500’s demo account.


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