Forex courses offer a no-pressure way to introduce you to foreign exchange operations and currency trading. In addition, most education institutions offer courses online or on a CD-ROM format, providing a flexible way to learn when it’s convenient for you.
Many institutions that offer on-going education in course form to major investment banks and trading houses, also offer their courses to the general public.
These courses are generally in three basic forms:
- in CD-ROM format,
- as an online course, or
- as classroom education.
There are several pros and cons for each of these formats.
Forex Courses – CD-ROM
If you choose a course on CD-ROM format, you can work on your own pace, when you like to do so. Also, there’s no homework, no pressure.
However, the total independence deprives of anyone choosing this option several interactive features that could help you understand the markets better. In fact, the best CD-ROM based courses offer additional human support for both technical issues (using the CD-ROM) as well as educational issues (contents of the CD-ROM).
Even if you don’t choose a CD-ROM based course, you should probably get historical FX data on CD-ROM format for testing your forex trading strategy if you decide to implement one.
Forex Courses – Online Education
Forex courses conducted over the Internet usually work pretty much in a similar self-paced fashion as the CD-ROM courses do. However, the interactivity of a virtual meeting place offers a new dimension to the learning experience.
The ways you can normally interact in online trading courses are discussion forums, direct emails to other participants as well as teachers, and online demo accounts where the strategies are tested.
And, unlike with static CD-ROMs, any new information can be implemented into the online course curriculum immediately.
Forex Courses – Classroom Education
The classroom-based forex courses are popular for a reason: you’ll get “hands-on” experience on what trading is all about. Unlike with CD-ROM based education or with online courses, many classroom education situations feature simulated trading calls, where you have to think and behave as you would do in a live trading situation.
Learning on FX courses and using that information for trading purposes also calls for a lot of motivation.
You’ll likely gain some of that motivation in a classroom full of people excited about the forex markets.
The classroom-style forex courses are the most expensive, but may give you the extra edge needed to be successful.
Forex Courses – Providers
There are many companies offering forex courses. In fact, if you already have a brokerage account with one of the larger houses, chances are that the brokerage offers introductory as well as advanced courses.
Then there are also several specialist companies, offering nothing but forex courses. Here’s a sample of the firms offering forex education in course form:
- Market Traders Institute
- Concorde Forex Group
- Trader House Network
- Euromoney Training Group
Forex Guide Index