October 22, 2013
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Forex Training Options

This article is about the types of forex training courses that are available and what you should be aware of.

Options for Forex Training

The complexities related to the foreign exchange market can make for a frustrating entry into the market.  This market offers a profitable environment, but to achieve this requires time and dedication.  You should aim to gain a rounded knowledge of the entire market and how it works.  To do this your starting point should be to obtain basic forex training and move ahead from there.

Course Availability

Apart from self-teaching, there are two main types of forex training course available to you.

Online

Online forex training courses are very similar to doing a college distance learning course.  You will be provided with notes and lectures via online media.  You will need to follow the course in a stipulated manner from beginner levels through to an advanced level.  This is an ideal course if you are disciplined and dedicated as you can work through the course material in your own time.

Mentorship

Mentorship programmes are more focused than the online courses and you have the facility to interact with your tutor.  These can be viewed as private tutorship courses.  The mentors who are allocated to you are normally professional traders.  To enter this type of programme, it is recommended that you have at least a basic knowledge of foreign exchange trading.  You will be taken through the course including how to handle risks and the various strategies.  A big section of this type of course involves undertaking simulated trades as this will prepare you for trading live.  It will also provide you with a view of where you are making mistakes.

The costs involved are obviously much higher for the mentorship training as you receive more for your money.

Choosing Forex Training Courses

There are a couple of factors you have to bear in mind, regardless of the type of course you opt for.

Course Reviews

If you do an online search for a forex course, you will receive thousands of options.  You should place your focus on the ones that come with good genuine reviews or recommendations.  There are many scammers in this section of the market and they may offer you a course with very little actual forex information.  If the provider is making offers of anything other than training, you should move on.  You are looking for a training course, nothing else.

You should consider joining a couple of trading forums to obtain recommendations and advice on the most suitable available courses.

Certificates

If your intention is to gain certification, you should check on the provider’s website as to the type of certification they offer.  Many of the forex training courses are certified by large financial institutions or the regulatory boards.  If the course is an international version, you should check that it is certified by a professional institute.

Cost and Time

Regardless of the type of course you decide to do, you need to be committed, particularly if you opt for the mentorship programme.  Before you sign up for a course, you should ensure that you have the time available to complete it.

The costs vary from one provider to the next.  This means that the course you choose will be dependent upon your personal budget.  It is recommended however that if you intend trading on a full-time, you opt for the mentorship programme.

 

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