Forex trading may be seem simple at first but after you’ve watched your first trade end in a loss you realize that there is a lot more to know about this type of investment than first meets the eye. In fact, reports have shown that 80 per cent of first time investors lose all their money within weeks of opening a Forex account.
If you don’t want to find yourself part of this negative statistic, the best thing you can do before opening a trading account is to gain as much knowledge as you can about Forex markets and what it means to trade Forex. Without knowing even the basic information, there is little chance of you coming out with any profits.
Almost all Forex brokers offer a certain amount of tutorials and educational material to get you started. But don’t be deceived. What a broker teaches you is really minimal and is usually geared towards your opening an account with them. What you need is an independent instructional course that will allow you to practice trading while you learn and will provide a back-up team that can help when the need arises. And it will.
Of all the free courses available online today, the one that stands out from all the rest is FX Academy. From the moment you open the site, you will find that FX Academy is a truly in a league of its own and is beneficial for both new traders and those who have been trading Forex for a while but who need some brushing up on their trading skills.
There are eight courses with over 32 different lessons and each lesson is accompanied by different interactive features. An animated video describes the lesson visually and the quiz at the end of each lesson enables you to test your knowledge of the subject being taught. Should you decide that you need to review the information, you can return to the lesson as many times as you wish. There are also suggestions for additional reading material and links to articles on the same topic.
What’s even more special about FX Academy is that it is constantly adding additional features to the program. Over the last few months, a Forum has been introduced that enables you to enter into discussions on any topic with your fellow students. You can also refer to the team of experts at FX Academy for advice and trading tips.
Once you feel confident about opening a trading account, you can review the list of the top ten Forex brokers provided on the FX Academy website. The major features of each broker is itemized so you can select the one that best meets your needs.
FX Academy stands out from all other online Forex instructional programs with its unbiased textual and visual presentations using a multi-level, interactive interface that is both enlightening and fun to experience.