Forex is slang for foreign exchange, a type of trading or investing to make money from the fluctuations in currency exchange rates. If that sounds confusing to you, don’t worry. There are plenty of online forex trading classes available to help you learn foreign exchange from home.
We reviewed over a dozen forex classes, focusing on content, duration, past customer reviews, and cost, to pick the best online forex trading classes. Whether you’re brand new to forex or want to improve your skills, keep reading to find our choices to places to boost your forex IQ.
The Best Online Forex Trading Classes 2021
Best Overall : FX Academy
Why We Chose It: We picked FX Academy as our top choice because it’s free and covers a broad range of forex topics from a recognized leader in online trading.
More than a dozen courses from beginner to expert
No cost to sign up or take classes
Multiple experienced instructors
Not transparent about how they make money
Little opportunity for one-on-one help
FX Academy is a free online academy that is home to more than a dozen courses on forex and related trading topics. Beginners will feel comfortable starting with the general Introduction to Forex Trading, while others may want to skip ahead to topical courses on different types of trading, analysis, and risk management.
Courses at FX Academy are taught by four analysts from the forex news and analysis website DailyForex.com. Each course consists primarily of self-paced video lessons. There are some interactive quizzes and light reading, as well.
Based on available information, it seems these courses make money by referring participants to partner brokerage firms, but they don’t clearly express that. It also doesn’t include much one-on-one help outside of a community forum. But the price is right, there’s no obligation to buy anything, and you can learn a lot with a relatively low commitment.
Best Beginner’s Course : Forex Trading A-Z
Why We Chose It: We picked this highly rated course thanks to its coverage of essential forex topics in an easy-to-digest format that you can get through in a weekend.
Focused forex course suitable for new traders
Real trade examples using the popular MetaTrader 4 platform
Covers terms and analysis strategies essential for new traders
Some subject areas are not covered in depth
Little opportunity for one-on-one help
This course, Forex Trading A-Z - With LIVE Examples of Forex Trading, is hosted on the popular learning platform Udemy. This course requires a $129.99 fee for lifetime access to more than five hours of video content and a few articles. The course also updates its content, with the most recent information added in January 2021.
The course is taught by Kirill Ememenko from Forex Boat Training Academy and includes 56 lectures that add up to five hours and 20 minutes of instruction time. That doesn’t give enough time to go into too much depth on every topic covered, but it’s plenty to get you started learning, with a combination of theory and real examples from an experienced trader.
As of February 2021, more than 70,000 students have taken the course and have left overwhelmingly positive reviews.
Best for Extensive Self-Study Material : Forex Trading for Beginners
Why We Chose It: We picked Forex Trading for Beginners because it includes a combination of more than 60 video lessons, downloadable worksheets, and live trade examples through a self-paced course format.
More than 60 lessons covering core areas of foreign exchange trading
Taught by an experienced CFA/CMT on the Investopedia Academy platform
Lifetime access and a satisfaction guarantee
$199 price tag makes it more expensive than some competing courses
Not appropriate for all trader levels
Forex Trading for Beginners from Investopedia Academy teaches active foreign exchange trading with an approachable, polished course for students. Beginners will learn how to save on trading costs, analyze trades, and read market patterns for trading opportunities. Instructor John Jagerson holds CFA and CMT designations and has written multiple books on investing in addition to online courses.
The $199 price tag may be a little high for some newbies looking to learn the markets, but it’s a low cost considering many people place trades worth thousands of dollars at a time. The series has more than 60 lessons, so the average price works out to about $3.30 per lesson. The course teaches how currency pairs work, how you typically pay when trading, order types, market analysis, and how to look for price patterns in currency charts.
It is a beginner course, so intermediate to advanced traders may want to look elsewhere.
While we retain editorial independence, both Investopedia and The Balance are owned by Dotdash
Best for Direct Coaching : ForexSignals.com
Why We Chose It: We picked ForexSignals.com because it includes access to trading mentors 24/7, a private trading community on Slack, and advanced forex training materials.
Access “pro mentors” 24/7 and have every question answered
Private Slack community to interact with other members
Includes courses and education materials for advanced forex strategies
Recurring membership fee required
Potentially high annual cost
For intermediate to advanced traders who want to learn from a broad trading community, ForexSignals.com is a solid choice. It’s a trading community and course in one that requires a recurring membership that gives you access to a plethora of materials, trading mentors, and a live community where you can interact with other traders as you learn and manage your trading strategy.
You can start with a one-week trial, perfect for giving it a try before deciding if the recurring membership is worth the cost for you. Membership options as of February 2021 are $97 per month, $297 for six months, or $567 per year. Longer memberships also include additional features. For instance, you won’t get direct mentor access without paying $567 for the annual membership.
Past customers give ForexSignals mostly positive ratings, while negative reviews tend to focus on complex trading strategies and losing trading strategies, which may be the case with any forex strategy.
Best Value : Forex School Online
Why We Chose It: We picked Forex School Online as our choice for best value because it offers a combination of written and video lessons on forex for free.
Free beginner forex course that covers essential topics
Additional free video and written content with no login required
Tools, calculators, and PDF downloads also available at no cost
Less polished than competing paid courses
Guides push students to a specific brokerage partnership
Forex School Online is run by instructor Jonathan Fox and follows a seven-step system to help you learn the basics of forex trading. That includes building a personal strategy, understanding trade types and risks, and sizing out the right trade for your goals.
The main beginner course is free, as is a long list of blog and video content you can enjoy before or after completing the course. Note that the site appears to make money through a partnership with a recommended brokerage, though you don’t have any obligation to sign up or use that partner for your forex needs.
The free course teaches new traders how the forex markets work without any financial commitment. However, you won’t get the same production value and high-end website experience as you would with a paid course. But you can’t beat the price, and it may open you up to the idea of moving on to more advanced courses if you finish it and find yourself wanting more.
Best for Advanced Strategies : Platinum Trading Academy
Why We Chose It: Platinum Trading Academy is a top choice for advanced forex trading as it offers multiple advanced courses that can improve the skills of experienced traders.
Forex Masters and Elite Trader programs designed for those looking to become expert traders
Dedicated forex trading mentor
Learn advanced strategies including algorithmic trading
No transparent pricing on the website
Signup requires a consultation sales call
Once you’ve built up some market experience, you may want to learn more advanced trading strategies used by professional and full-time traders. Platinum Trading Academy is a U.K.-based trading educator that offers multiple forex and trading courses, including two that are ideal for advanced strategies.
The Forex Masters Programme and Elite Trader Programme both include training on advanced strategies including algorithmic trading, advanced technical analysis, and a private mentor who helps you with one-on-one training. These courses help you learn to trade more currency pairs with a focus on risk and reward.
Of course, one-on-one training doesn’t come cheap. While Platinum Trading Academy doesn’t share pricing publicly on its website, you can typically expect to pay thousands of dollars for this type of training. If you’re concerned about the cost, we recommend that you contact the company directly to see if it fits your budget.
While there are many ways to learn about foreign currency trading, an online course may be the best route, as you can learn, practice, and manage your trading all from the comfort of your home. These courses will give you the tools and skills you need to get started in the exciting world of forex.
Just note, however, that foreign exchange can be extremely risky and many traders lose money. If you’re OK with that risk, starting with a beginner option like FX Academy is a good choice. However, depending on your experience and how much you want to learn, a paid course could also be the right choice.
|Course||Why We Picked It||Cost*|
|FX Academy||Free course suitable for beginner to intermediate traders.||Free|
|Forex Trading A-Z||A highly rated course that covers essential topics in under six hours.||$129.99|
|Forex Trading for Beginners||Polished and professional course from a known name in investment education.||$199.99|
|ForexSignals.com||Live community and direct access to forex mentors.||$567 per year|
|Forex School Online||Free course with extensive written and video content.||Free|
|Platinum Trading Academy||Advanced courses with dedicated one-on-one mentoring.||Unavailable|
*As of February 2021
Frequently Asked Questions
How Much Does a Forex Trading Course Cost?
Forex trading courses range in cost from free to tens of thousands of dollars. As there are many excellent resources available for less than a thousand dollars, and some for free, it’s wise to exercise caution when paying for high-priced courses. Unless you get one-on-one instruction or another similar premium feature, you shouldn’t plan to pay more than a few hundred dollars in most cases.
How Much Do Forex Traders Make in a Day?
Forex traders can end a day with thousands in profits or thousands in losses. While professional and full-time traders aim to make a living on foreign exchange, most people shouldn’t expect to earn any specific income.
Where Can I Learn Forex for Free?
There are several free forex courses, including two listed in the sections above. In addition to free forex courses, you can find extensive resources for free from most major brokerage firms and trading platform providers.
Who Should Take a Forex Trading Course?
Forex trading classes are fun for anyone looking to learn more about how foreign exchange and trading works. Even if you don’t plan to trade, these courses can offer useful insights into how others approach the markets and use various types of analysis to pick stocks, ETFs, cryptocurrencies, and other non-FX (forex) investments.
Are Forex Trading Courses Worth It?
Forex is highly risky and volatile. While forex courses are a great way to learn about this marketplace, there is no guarantee that the course will teach you winning, profitable strategies. If you are new to forex, it may make sense to start with a free course to get an idea of how things work before committing to a more expensive option.
How We Chose the Best Online Forex Trading Classes
To choose the best online forex trading classes, we looked at more than a dozen different courses and providers. We focused on course content, quality, and cost when picking the best options for new and experienced traders alike. We also considered instructor credentials and course ratings along with bonus or premium features.
All of our top choices provided affordable, reputable forex training for learners of all levels and access to experienced instructors and mentors.