Forex Courses For Beginners

What's Out There?When it comes to forex trading courses, there are two main categories:

1. Online courses

2. Individual training

Online courses can be compared to distance learning in a college-level class. An instructor provides PowerPoint presentations, eBooks, trading simulations and so on. A trader will move through the beginner, intermediate and advanced levels that most online courses offer. For a trader with limited foreign exchange knowledge, a course like this can be invaluable. These courses can range from $50 to well into the hundreds of dollars. (If you're a beginner, check out Top 7 Questions About Currency Trading Answered for an overview of basic concepts.)

Individual training is much more specific, and it is advised that a trader have basic forex training before entering. An assigned mentor, typically a successful trader, will go through strategy and risk management, but spend the bulk of the time teaching through placing actual trades. Individual training runs between $1,000 and $10,000.

What to Look ForNo matter which type of training a trader selects, there are several things they should examine prior to signing up:

Reputation of the CourseA simple Google search shows roughly 2 million results for "forex trading courses." To narrow the search, focus on the courses that have solid reputations. There are many scams promising giant returns and instant money (more on this later). Don't believe the hype. A solid training program won't promise anything but useful information and proven strategies. (Read Getting Started In Forex for more on defining a strategy.)

The reputation of a course is best gauged by talking with other traders and participating in online forums. The more information you can gather from people, who have taken these courses, the more confident you can be that you will make the right choice.

CertificationGood trading courses are certified through a regulatory body or financial institution. In the United States, the most popular regulatory boards that watch over forex brokers and certify courses are: