Each and every trading day, there are thousands of currency pairs playing the game of tug-of-war in what is known as the global forex industry. And the good news is that, as different currencies flex their muscles, you stand to gain profit by either buying or selling them.
Unfortunately, that is often easier said than done and that’s why it is extremely important to sign up for the best forex trading courses available.
A professional forex course can help you learn a lot i.e., from the basics of chart reading to advanced strategies that are used by a select few to beat the market.
Top Forex Training Courses for Traders in 2022
And now, let’s take a look at some of the top-rated forex trading training opportunities available online.
1. Asia Forex Mentor (AFM)
This forex course has been around since 2008 and yet its popularity has been rising steadily throughout that time. Perhaps that’s a testament to its effectiveness.
Well, one thing we absolutely like about AFM is that they have a really well-thought-out course structure. The course starts with the basics before proceeding to the advanced stuff such as trading psychology and trading strategy setting.
This is the kind of course you need to go for if you are looking for stuff that goes beyond the basics. If you are looking for a course that will equip you with unique and proprietary trading strategies, then this is it.
Talking about strategies, some of those covered in this course include:
- Buying at Highs/Lows
- How to Capitalize on Reversals
- Price Action Pattern Techniques
- The Top Down Approach
Another thing worth keeping in mind is that even though this training program predominantly covers technical analysis, it still has a small portion of its course structure that covers fundamental analysis.
As such, it is an excellent program for anyone looking to become an all-round trader.
Small qualms with the otherwise near-perfect FX trading course would be that its homepage is quite busy. There’s way too much information being relayed on it and this might leave you a bit confused as a first-timer.
Luckily, everything becomes a lot easier once you get accustomed to the Asia Forex Mentor user interface.
The course goes for $997 per year although it can be tried for free for 7 days.
2. Forex 101 By Benzinga
We all know Benzinga for its powerful news alerts feature, but did you know that they also have a forex trading course? The Forex 101 course covers all things FX – from the very basics e.g. “What is Forex” to advanced stuff such as “Risk-Reward Ratio” and “The Fundamentals of Trading Psychology.” All that for a paltry 47 bucks. Yup, you read that right – it’s a one-off fee.
So, if the course is that affordable why didn't we list it as number one on our list of FX training courses?
Well, much as it is a great course, it fails to keep up with the kind of hands-on support provided by the team at Asia Forex Mentor. The Benzinga forex course mainly comprises pre-recorded classes which, though quite well-made, deny you the opportunity to ask questions and get feedback in real time.
We believe that Forex 101 is best suited for self-driven learners who prefer self-paced learning.
Yet another thing worth noting is that the Benzinga course is quite good with the basics. And so, if you’re a complete newbie, it might be a better place to start out your journey than AFM.
3. Forex Signals
What if you could learn forex trading in an environment full of highly acclaimed mentors? Well, at Forex Signals you get that and then some.
The platform boasts over 300 hours’ worth of pre-recorded video lessons. Each one of those videos is specifically designed to cover crucial topics in forex trading. Also, the videos are done in a beginner-friendly format and are specifically designed to provide a gentle learning curve for everyone no matter their level of trading experience.
ForexSignals.com has been around since 2012 and seems to have empowered hundreds if not thousands of traders so far. Indeed, their Trustpilot page enjoys an astounding 4.6-star rating based on 1700+ reviews.
It’s safe to say that Forex Signals is an ideal place for anyone looking to have their handheld throughout their trading journey.
Their course structure covers a wide variety of lessons including the most basic ones that one needs to build long-term trading strategies.
However, as good as this platform is, we find their sales pages to be a bit too salesy. While that is not necessarily evil, we happen to prefer sites that tone down the hype and focus on giving real value to the reader.
Luckily, their trading course is quite well-made (thereby making up for that downside).
4. The Social Traders
As its name suggests, The Social Traders website is a platform that gives you the opportunity to learn trading by observing what experienced traders do. But besides that, they do have a detailed curriculum for those who would like to beef up their pool of knowledge.
Their course is unique in the sense that it focuses on the company’s proprietary Killer Pattern Play & SMC strategy.
And don’t let those big words fool you. This course is designed with beginners in mind. The first part of its curriculum covers the very basics of FX trading. We’re referring to stuff like:
- What is Forex Trading?
- What is a Pip?
- Benefits of Trading
- Technical vs Fundamental Analysis
But just before things begin to get boring, they spruce them up a bit by delving deeper into real trading strategies. This is where you get to learn how to identify winning positions, when to enter the market, when to exit and so forth.
In total, this course comprises 7 stages of learning (although an 8-th one is set to be added soon). Once you complete the available levels of learning you’ll be better able to tap into the immense benefits of social trading as offered under The Social Traders website.
Widely known for its funded trading accounts facility, FTMO also comes with a built-in trading academy. The idea behind this academy is to ensure that all FTMO traders understand the basics and are equipped with a handful of trading strategies.
The courses that form part of the Trading Academy are quite well-thought-out. All the courses are provided in video format and are presented by some knowledgeable tutors.
Apart from covering the basics, the training also encompasses advanced topics among them:
- Tips on how to pass the FTMO challenge so you can get a funded account
- Market guides for day types, poor high/low and opening types
- MetaTrader 4 tips and tricks
The fact that FTMO has such a diversified training platform makes it an excellent bet for beginner traders – particularly ones with low budgets.
Once you conquer the FTMO challenge and get your account funded, you’ll be keeping up to 90% of all the profits you make.
So, by joining this platform you can hit two birds with one stone. First off, you get all the training you need to get going. Besides that, you stand to get a funded account which in effect gives you the muscle to play in the big league without risking your own money while at it. How cool is that?
All FTMO forex courses are provided on YouTube. By the time we were compiling this review, the FTMO channel on YouTube had well over 66,000 subscribers (an indication of just how popular the course is).
6. Baby Pips (Free Forex Course)
Babypips is a perfect place for complete beginners to learn the basics. Their free forex course, The School of Pipsology, is quite well-thought-out and is broken down into different levels just like conventional schools are.
Their curriculum is spread out through 11 sub-courses beginning with preschool, kindergarten, elementary, middle school, summer school, and high school.
Those looking for advanced training can start at undergraduate (freshman) level and proceed to sophomore, undergraduate junior/senior, before finally completing with the graduate’s module.
One thing we absolutely love about The School of Pipsology is that it automatically tracks your progress so you can easily take stock of the lessons you’ve completed.
Unfortunately, all the Babypips lessons are available in written format. And although they’ve intelligently introduced bits of humor to improve engagement, the lessons are still no march for the kind of live training sessions you’ll find at Asia Forex Mentor or Forex Signals.
That said, if you prefer to read, research, and learn at your own pace, this course might do the trick.
What Qualifies as the “Best” When It Comes to Forex Courses?
First off, the ideal forex training course is one that aligns perfectly with your goals. For example, if you are already familiar with the basics, you’ll be better off with a course that tackles the advanced stuff instead.
Likewise, if you already have an investment strategy but simply want to perfect it, you’ll want to look for a course that delves deeper into different kinds of analyses.
Other than that, it is important to keep in mind that some forex courses are offered as live classes while others are either pre-recorded or written down. The good thing with live classes is that they are interactive. Plus, you can always have your questions responded to by the tutor in real time.
Pre-recorded classes, on the other hand, are awesome for those who prefer self-paced online learning.
Lastly, it is important to take the cost of the course into consideration. Always go for a course that’s within your means (and if possible one that gives you the best value for money).
Frequently Asked Questions About FX Courses
The world of currency trading is evolving fast so it is generally not advisable to try and learn to trade on your own. At the very least you should consider getting a free course. But, if possible, you should combine the course and mentorship so you can boost your chances of success.
Like with any other professional-skill course, it requires great effort, discipline, and consistency to learn forex trading. Luckily, with the right kind of training, forex trading is not a difficult subject to understand.
If you are a complete beginner but are committed to putting in the hours, you should be able to master the art within a few months of starting the course. On average, it takes roughly about 40 hours to master the basics. However, it takes longer to master things like trading psychology – this task can be a lot easier if you involve a mentor.
Thanks to the power of modern technology, forex trading is no longer a preserve of a few lucky professionals. These days, anyone with access to a computer or smartphone can learn forex and even make money trading currencies.
While it isn’t rocket science, the journey to becoming a fully-fledged trader can be highly demanding. And this is where access to quality online forex trading courses can help.
Our list above sums up some of the ideal platforms that not only equip you with practical knowledge but confidence and stability as well.
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