Forex Trading Courses

Yes and No. Forex Trading Courses are only worth it if you’re learning from a trader who has traded professionally in the markets.

There are countless traders out there who aren’t profitable but are taking it upon themselves to teach their failures to others for a price in order to make up for their losses.

A professional trader will be more than happy to show you their trading record so you can be certain that they are profitable, and consistently so.

Quick-fix courses with low costs oftentimes aren’t worth it, you’ll simply get what you pay for. A trader’s time is valuable to them, the time they spend teaching you could be time trading the markets, so they would be looking to ensure they’re not losing out on profitable opportunities by giving you that time.

Forex Trading has infinite potential, but that doesn’t mean that you can multiply your account several times over in a short time. Growing an account takes a great deal of patience and discipline. It will need time to grow to a substantial amount.

A lot of times on social media, you might see traders boasting 200% returns, or 20% monthly returns, just ridiculous figures that don’t reflect the reality of professional trading.

The best trading funds in the world average between 40-43% returnson an annual basis, which is a magnificent return on investment. This is the top-end and requires vast knowledge of the markets.

It’s important you keep realistic expectations for trading. Yes, it can make you rich, but it’s not going to happen overnight, and it’s not going to happen in the next year or two.

Be prepared to work at it.

There are a few misconceptions in the markets, for instance that you either need a vast amount to get started, or that you can start with very very little. The truth of the matter is both of these aren’t necessarily correct.

A lot of traders will start with a few hundred dollars or pound sterling and will see their accounts fail quickly due to the inability to lower leverage enough to a point where risk can be effectively managed.

This is one of the core reasons that we provide you with a fully funded trading account so that you are able to trade the markets with enough skin in the game to make a profit while not over-leveraging and risking your account being wiped out.

If you were to trade your own capital. We’d recommend no less than £1,000/$1,000, depending on your country of origin.

This question depends entirely on your level of capital as you will need to employ wise risk management techniques. These will require you to have a low level of market exposure, which means that your potential returns would also be lower. This is the correct way to trade for the long-term and to best protect your initial capital to ensure you can live off the interest accrued through your trading activities.

However, if you have a lower-value account that you can’t feasibly live off of, then it just means you’ll need to trade without making any withdrawals until you accrue enough compound interest to reachthe point where you can live off of your monthly returns.

The broker is the middleman between you and the markets. Unfortunately, unlike with many aspects of life, this middleman cannot be worked around.

Brokers are necessary, and they are mandatory.

So how do you choose the right one? Firstly, you should ensure that your broker is officially regulated by the country in which you are trading from. For instance, in the UK, the broker you choose should be regulated by the FCA (Financial Conduct Authority).

Here is a breakdown of each country as well as their corresponding regulatory body:

Australia - ASIC: Australian Securities and Investments Commission Germany - BaFin: German Federal Financial Supervisory Authority United States - CFTC/NFA: United States Commodity Futures Trading Commission / United States National Futures Association Cayman Islands - CIMA: Cayman Islands Monetary Authority Spain - CNMV: Spanish National Securities Market Commission Luxembourg - CSSF: Luxembourg Financial Sector Supervisory Commission Cyprus - CySEC: Cyprus Securities and Exchange Commission Dubai - DFSA: Dubai Financial Services Authority Estonia - EFSA: Estonian Financial Supervision Authority United Kingdom - FCA: United Kingdom Financial Conduct Authority Switzerland - FINMA: Swiss Financial Market Supervisory Authority New Zealand - FMA: New Zealand Financial Markets Authority Austria - FMA(AT): Austrian Financial Markets Authority Canada - IIROC: Investment Industry Regulatory Organisation of Canada Japan - JFSA: Japanese Financial Services Agency Singapore - MAS: Monetary Authority of Singapore Malta - MFSA: Malta Financial Services Authority

Forex can be traded anywhere in the world, as long as you have an internet connection and a device capable of trading, you can place, and close trades at will.

There are some countries where forex trading is not permitted, so be sure to check the local laws and regulations around forex before placing trades.

In order to make money from the forex markets, you need to have a proven strategy and the discipline required to apply it effectively. Market conditions can often change overwhelmingly every few years or less, and so some strategies and forex gurus with often lose their ability to profit and the tides change against them.

If you have a strategy, it’s important to ensure it is successful for over 6 years to ensure it can survive these changes in the market.

Currencies around the globe fluctuate in price when compared to each other, it’s this fluctuation that creates opportunities for profiting. However, it’s difficult to make a decent amount of money without trading with a vast amount of capital. This is why brokers provide leverage. Leverage allows you to trade far beyond what you would usually be able to, boosting your effective capital many times over.

This takes your potential gains and losses from pennies to tens, hundreds, and sometimes even thousands of pounds/dollars. Say the broker lends you 100,000, you place a trade, and it goes in your favour, that 100,000 now stands at 100,250. You give back that 100,000 to the broker and keep the extra 250 for yourself. Similarly, if the trade goes against you and that 100,000 now stands at 99,750, you give back that 99,750 as well as an extra 250 from your own pocket to ensure the broker gets the full 100,000 back.

You’ll never actually receive the 100,000 to trade with from the broker, it is simply registered as Leverage. The above is just a brief explanation on how leverage operates. It’s this ability to trade beyond your usual means that makes forex trading possible, lucrative, and desirable. This is why people trade forex.

Getting started with trading the forex markets isn’t necessarily difficult. In order to place your first trade, you just need a device in which to trade on (these days you can trade on your smart phone), capital with which to trade, and an internet connection.

However, if you would like to start trading the correct way there’s a couple more elements to add to the above list: Time, and a Mentor.

Analysing the markets takes time, it’s not a good idea to start placing trades without first figuring out why that trade is viable. Second to this, it’s not a good idea to start analysing the markets without knowing which analysis works, and which doesn’t. In order to analyse the markets effectively, you need a mentor who has been in the markets for a long time with a proven track record so that you can ensure you’re learning the correct material.

Once all the above pre-requisites have been fulfilled, you’re ready to trade the markets.

A vast majority lose money, the approximate figure hovers around the 80% mark. However, this doesn’t mean that 20% are making money. There are a great number of that 20% that are simply breaking even or taking minimal losses. The percentage that actually make money, is likely in the single figures.

The best way to make sure you are in this single-figure percentage, is to learn from those who are already in that single-figure percentage. Your mentor should be able to prove a positive and consistent track record, and if they can’t, they are in that 80%+ that lose, and are trying to make those losses up by teaching you their incorrect techniques.

Don’t fall for the trap. Ensure your prospective mentor knows what they’re talking about before even considering them to be your teacher.

There are a few costs associated with trading the forex market.

The first and most obvious cost is your trading capital. This is the amount that you’ll put into your trading account and use to make trades.

The second and most important cost is the price of your mentorship. You may be thinking that you can simply start trading and you’ll make up the cost of mentorship through your success, but unfortunately you cannot succeed on gut instinct or basic understanding alone. In order to be successful and consistently profitable, you need to learn how to trade from someone who does it for a living.

The third cost depends on the type of trading account you have, whether you pay your broker in commission, or if you’re given a wider bid/ask spread.

The fourth cost would only apply depending on the trades you have open overnight, these are called ‘Overnight Holding Charges’.

As you can see there are a few costs to be aware of when trading, however if you’re successful, these costs are incredibly manageable. Before you start trading for real, get yourself set up on a demo account and trade it until you’re consistently profitable for 6+ months. If you can get to that level of consistency, then you can open a real account and try your hand at the markets.

Withdrawing capital from your trading account is a relatively simple process, and it can take anywhere from 2 hours to 3 working days depending on your broker, and the amount of capital you’re withdrawing.

Checking withdrawal times should be one of the things you look at before deciding on a brokerage.

In Forex, there is no subscription fee for having an account.

Some companies will offer advanced instruments for an additional cost. However, we recommend if you are just starting out, it is much more beneficial to learn and use MetaTrader as a standard.

The forex markets open at 9pm on Sunday (UK Time) and close again at 9pm on Friday (UK Time).

These are affected by daylight savings, hence there is no select time zone that can be adhered to as the time changes. Ensure you are aware of any time differences between your active time zone and the active time zone of the United Kingdom.

The markets are also closed on Bank Holidays.

Not necessarily. Some brokers have online platforms that you can use, and if you want to trade from your phone or other mobile device, that is also possible. However, we recommend using MetaTrader 4 as you will have a lot of analysis that you will want to apply to your charts, and a lot of online platforms won’t keep your analysis on their charts.

If you don’t feel comfortable installing software on your computer, we can provide you with a virtual machine that you can work from, you would need to connect to it through your computer, and then would just continue as you usually would.

We also have a fully equipped technical team on standby to help you with any issues that you might face, so you don’t have to worry about any technical mishaps.

When you open a trade, you are doing so at either the bid price, or the ask price. The difference between these two is called the ‘bid/ask spread’, oftentimes just shortened to ‘spread’. These are the prices in which your broker is willing to buy or sell a particular currency pair.

Brokers that have a commission structure will often have a much tighter bid/ask spread ensuring your trades don’t begin at such a loss, however this commission can sometimes cost you more than the bid/ask spread otherwise would.

Depending on your level of capital, a commission account might be more financially beneficial for you when compared to an account beholden to the spread.

Short answer: Yes.

Long Answer: This entirely depends on the type of account you have. A lot of retail accounts will have a margin call and will stop you out before your balance goes negative. However, there are other kinds of accounts that don’t have such a feature, oftentimes however they’re exclusive to higher-capital traders. It’s best to ensure you understand all the fine print of any trading account that you open.

Emotions play a pivotal role in trading. Depending on what mind-set you’re in, your trading can either thrive or suffer.

Without going too deep into psychological trading concepts such as revenge trading, there’s a basic principle surrounding fear & greed. Fear and Greed are oftentimes the greatest influences on a trader’s market sentiment, they are responsible for a whole host of trading mistakes, and any successful trader will have a strong control over these two emotions.

Here is a visual aid to help you better understand the relationship between fear, greed, and trading:

The desire for fast growth with lower-value accounts leads to over-leveraging, which in turn will lead to large losses, creating an emotional imbalance which risks the trader falling into a negative trading cycle racking up loss after loss.

Psychological and emotional control is one of the core differences between winning traders, and everyone else.

Depending on the level you wish to be at, it can take anywhere between 7-20 weeks, this is based solely on the durations of our own courses, as we have devised them in such a way to be the most effective and efficient in getting you to the correct level.

In a word: Expertise.

You’re not learning from people who have spent years trying to learn by themselves, you’re learning from people who have learned from the best and have spent years being successful in the markets. With Platinum, you’re learning from professionals that have been in the industry and worked at some of the top firms in the financial world.

Second to this is all the resources that you will attain by enrolling on one of our courses. You’ll have full access to our Trading Floor & Analysis, as well as our very own Trading System which will give you a newfound confidence in the markets.

You can, but we don’t recommend it right away. Your mentor will help to guide you through the markets, and when they are sure you have the skills and techniques necessary, they will help you start making those first trades.

Yes and no. You’ll learn a lot of analysis techniques, some can be used in other markets, and some are exclusively effective in the forex market. The various risk management techniques you will learn could also be applied to other markets, as well as the discipline that will be instilled in you.

I’d say it’s about a 50-50 overlap, with half of the material you learn being applicable elsewhere, and the other half being exclusively oriented around the forex markets.

Of course, we will, risk management is crucial not only for survival in the markets, but it’s a necessary skill to ensure you thrive as well.

Risk management is one of the core modules that we will teach you, and we will drill our risk management techniques into you until you know them like the back of your hand and follow them religiously.

After our forex trading course, should you show astute risk management skill, you will be offered a funded account from our academy in order for you to get a head-start on building your trading portfolio.