Compare forex brokers with educational courses
Best free forex trading courses from third-party providers
There's a range of free educational resources available from non-broker, third-party providers. Forex courses from third-party providers should be devoid of cheap sales tactics and marketing ploys; always remember to check if your forex educator has any relationships with forex brokers that could present a potential conflict of interest. Let’s take a look at the best free forex trading courses from third-party providers.
1. BabyPips (School of Pipsology)
BabyPips’ School of Pipsology is an excellent educational resource for beginner forex traders and investors who are new to the world of forex trading. BabyPips' forex course structure invokes the theme of the U.S. educational framework (starting with preschool, the course takes you through K-12, middle school, high school, and ends with undergraduate studies). BabyPips does an excellent job of walking its readers through the foundational knowledge necessary for beginner forex traders before introducing more advanced topics in its 11-part course.
BabyPips also offers free trading tools, such as its MarketMilk analysis tool. Registered users at BabyPips also gain access to their forum where community members can interact and discuss various forex trading topics. I’ve found BabyPips’ educational content to be accessible to beginners, thorough in its subject matter, and engaging. Simply put, it is an excellent educational resource for forex traders. BabyPips won the ForexBrokers.com 2024 Annual Award for #1 Forex Trading Course Provider.
2. Trading Central
Founded in 1999, Trading Central is a highly trusted, widely-used provider of financial markets news, analysis, research, and other trading-related tools and educational resources. While educational content is not the company's primary focus, Trading Central provides high-quality educational courses in video format covering a variety of investment themes for forex traders. These educational videos feature professional speakers and structured, thoughtful content. Available at select brokers, Trading Central is also well-known for providing trading signals services across its suite of applications for forex and CFDs. Learn more by checking out my Trading Central guide.
Check out a walkthrough of the Trading Central web platform:
3. Online Trading Academy (OTA)
Founded in 1997, the OTA is a long-standing provider of educational courses for stock market investing and forex trading. According to the OTA’s website, more than 70,000 students have enrolled in Online Trading Academy’s education courses (as of 2020). The OTA does offer some free learning options, but much of the company's material is behind a paywall. Courses can be purchased in bundles, which has the potential to cut down on the cost of attending the OTA’s courses. All that said, I consider OTA’s costs to be on the extreme high end for forex educational courses.
Important note: Exercise caution when looking into programs or courses offered by purported "self-made" traders. Always research the provider before committing your funds and be extra wary of any websites, providers, or courses that guarantee success or make other unbalanced claims about trading profits.
ForexBrokers.com Educational Content
Looking for excellent forex educational content, but not sure where to turn? You can also stay right here at ForexBrokers.com for high-quality educational content that'll help you get started as a forex trader.
Forex Trading 101
Check out my Forex Trading 101 educational series where I explain the ins and outs of currency trading, demystify leverage for forex traders, help you understand the importance of pips in forex trading, and share my tips for getting started as a forex trader. I also developed a proprietary Pip Calculator to help you calculate the value of a pip.
Check out some screenshots of my Forex Trading 101 educational series.
At ForexBrokers.com, we developed Trust Score to make it easier for traders to identify secure, reliable brokers and to teach our readers about the importance of regulation. To help protect everyday traders from unregulated companies and illicit practices, I developed a five-part educational series aimed at helping traders protect themselves from financial scams.
This series details the common types of forex scams, shares my top tips for avoiding forex scams, and provides resources for what to do if you think you've been scammed. I've also been writing about bitcoin and crypto for over ten years; I expanded my educational series to to help crypto traders identify (and hopefully avoid) common crypto scams.
Check out some screenshots of my educational series about common financial scams.
Are online forex trading classes worth it?
Yes, online forex classes can be worth your time (and, in some cases, your money), but not all trading classes share the same level of depth and quality. Also, not all forex courses are reputable. Make sure that you are using a highly rated education provider, and be wary of courses that disguise marketing materials as educational resources. These “courses” are generally designed to sell you something or entice you into an investment opportunity.
How much does a forex trading course cost?
Some third-party forex trading courses are free, while other “premium” courses might end up costing thousands of dollars. Fee structures tend to vary by providers; monthly fees, annual fees, and package or bundle deals are common. The cost (and quality) of these courses ultimately depend on the provider. It’s important to do your homework and ensure you are dealing with a reliable educator before choosing to pay for a forex trading course, especially given the growing variety and quality of free educational materials.
What is the best free forex class?
The educational courses available within the IG Academy are my top pick for the best free forex classes for traders of all experience levels. These courses are organized by experience level, accompanied by quizzes, and feature the ability to track your progress through the coursework. If you are looking for more educational content, IG's DailyFX program offers eight trading guides for beginners, five advanced guides, and written materials in a well-rounded, well-designed course. In my opinion, you won't find a better source of free forex educational classes than IG. Learn more by reading my IG review.
Which forex brokers have the best educational resources?
1. IG - IG Academy and DailyFX
IG delivers award-winning educational content across its websites, platforms, and DailyFX portal. I've been reviewing IG's products and services for more than eight years, and in that time IG has consistently ranked as my #1 choice for forex education. The educational resources available within the IG Academy include articles, videos, quizzes. IG also provides a dedicated mobile app for education and clients gain access to IG’s community of over 64,000 traders.
Check out this gallery of screenshots of IG’s educational resources, taken by our research team during our product testing.
2. AvaTrade - AvaAcademy
AvaTrade rebranded its SharpTrader educational program as part of its AvaAcademy forex course offering, with comprehensive content and lessons. AvaTrade delivers an extensive selection of educational resources, including 20+ courses, 145+ lessons, and 45+ quizzes. AvaTrade’s educational videos cover a wide range of topics, and explore niche subjects like Donchian Channels (what they are, and how traders can use them). AvaTrade also uploads and archives video webinars on its YouTube and Vimeo channels, which help to round out its offering. Learn more by reading my AvaTrade review.
3. Interactive Brokers - Traders’ Academy
Interactive Brokers is a leading provider of educational courses for financial markets, and offers several dedicated resources for education, including its Traders' Academy portal, IBKR Quant blog, and IBKR Campus. The Traders' Academy portal effectively covers broader financial market sectors, with lessons and accompanying videos organized by experience level. It's worth noting that the primary focus of Interactive Brokers’ educational offering is the stock market (share trading) – not forex or CFDs (though the broker has developed a growing selection of forex-specific content). Check out my Interactive Brokers review to learn more.
Here's a gallery of screenshots of Interactive Brokers’ educational resources, taken by our research team during our product testing.
4. FOREX.com - Trading Academy
FOREX.com's greatly improved interactive educational offering features forex courses with integrated progress tracking and quizzes (including an overall self-assessment quiz). What stands out most to me is the quality of the content and the effectiveness of integrated multimedia. For example, the included infographics are highly descriptive and complement the learning experience. FOREX.com also holds educational webinars and has an extensive library of archived content going back over a decade on its YouTube channel. Learn more by checking out my FOREX.com review.
Browse a gallery of screenshots from FOREX.com’s educational content, taken by our research team during our product testing.
5. eToro - eToro Academy
The eToro Academy made a quantum leap in 2023 with an expansion of content across its courses, dedicated guides, and educational modules. Coverage extends to multiple asset classes, including forex, stocks, crypto, and options trading. eToro's development of educational content also includes high-quality videos, such as its "Thematic Investing with ETFs" series in collaboration with iShares by BlackRock. Read my review of eToro to learn more.
Check out this gallery of screenshots of eToro’s educational content, taken by our research team during our product testing.
Can I teach myself forex trading?
Yes, you can teach yourself how to be a forex trader. There are no official forex trading certifications or designations; nearly every forex trader is self-taught, to a certain degree. That said, there are providers of forex educational resources that can accelerate your learning. Of course, it’s important to recognize that teaching yourself how to trade forex can take considerable time, effort, and money. There is no shortcut to making money as a forex trader and no single correct way to learn how to trade forex.
My recommendation for beginner forex traders who are brand new to trading and investing is to explore free educational content from trusted online forex brokers before deciding whether a paid third-party course is right for you. Most forex trading courses provided by forex brokers will cover the core concepts and fundamental theories of forex trading, and will usually help you develop your own trading plan.
It’s important to remember that trading and investing can be a life-long journey. The key to long-term success is to develop a solid foundation of knowledge and to create sustainable, manageable trading habits.
ForexBrokers.com 2024 Overall Rankings
Now that you've seen my favorite forex educational courses, check out the ForexBrokers.com 2024 Overall Rankings. We've evaluated over 60 of the top forex brokers, using a testing methodology that's based on 100+ data-driven variables and thousands of data points. Check out our full-length, in-depth forex broker reviews.
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At ForexBrokers.com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies (click here to learn about how we calculate Trust Score).
Our research team, led by Steven Hatazkis, conducts thorough testing on a range of features, including each broker’s individual products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
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Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
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