Instead of looking for paid trading seminars or mentors, you can make use of your broker's service in regard to trading education. Here are 5 ways to use it to your advantage.
It has become a common understanding that forex brokers essentially bridge traders to the market. But these days, forex brokers have come a long way from that simple role. As the competition gets tighter over the years, more brokers provide generous additional services to attract traders. Concerning this matter, free forex education is one of those extra features.
This kind of service makes it possible for traders to learn in the same place they trade. They do not have to look outside and learn by themselves since learning materials like the basics of trading, market analysis, managing the risk, and so on are usually provided for free, where they also open a trading account.
Generally, there are five ways a forex broker can educate their traders. By knowing these options, you can choose what learning method would work best for you to gain the best information that can be applied to the trading process.
1. Read Informative Articles
The easiest way to understand what trading is all about is to read articles and other written content related to the forex market and every important thing that comes with it. Forex brokers with good commitments to clients will provide some articles to introduce the concept of forex trading. It is the least they can do to educate clients should beginners find their way to their service.
To make it easier and more effective, many brokers set conceptual learning in which they arrange the articles to be presented at specific skill levels. So, traders can learn materials following their progress. Hence, it's common to find brokers offering informative articles in 3 separate sections that generally divide the content into materials for beginners, intermediates, and experts.
However, keep in mind that this method is considered passive learning. If you're one of those people who can understand better with active learning, the options below will suit you better.
2. Watch Tutorial Videos
Unlike reading alone, tutorial videos give you a more descriptive approach to visualizing your learning materials. This way, you can understand how trading works on the platform.
However, some forex brokers can only give free video content at the introduction level; for the rest of the materials, traders must fund their account or sometimes provide a certain payment as they're included as premium content.
3. Participate in Webinars
Plenty of webinars, known as online seminars, were introduced by forex brokers, especially during the Coronavirus pandemic. Even though the format is relatively the same as video tutorials, you can have a live discussion in webinars with the experts presenting the materials.
Ensuring you have the tools and devices to support the technical requirements is essential to participate. For example, a good internet connection is necessary, or your learning process will not run smoothly. Aside from that, one needs to follow the broker's schedule because webinars are usually scheduled at specific times that may not suit your time zone.
4. Join Offline Seminars
The forex broker usually presents an offline forex seminar in collaboration with professional traders or any high-profile figures to teach traders and interact with them during the process directly. The benefit of offline seminars is the time one can spend talking to the speakers. The drawback of such an event is that it will not be able to reach all traders since it will be conducted in a certain area. Besides that, it takes lots of preparation and budget to invite a speaker to the seminar location.
5. Create a Demo Account
A demo account provided by forex brokers is a special feature that will help traders to practice trading in the market with virtual money. This is a great way to learn and a crucial step in forex education because here, traders can apply what they learn in the live market. As the saying goes, "practice makes perfect" is even better because you don't have to risk any money, for the trading fund is provided virtually.
You can utilize a demo account to learn how to navigate the trading platform, open and close trading orders, apply technical tools and indicators on the chart, and test various trading strategies. Nowadays, it is very rare to see forex brokers who do not offer a demo account to clients; you can get it practically in all brokers you can find.
Forex Brokers with Free Education
In the world of forex trading, knowledge is power. Today, a new breed of forex brokers has emerged, offering traders a unique advantage—free educational resources. These brokers equip traders with the tools to navigate the forex market. Discover how accessing comprehensive educational materials can enhance your trading skills and increase your chances of success. Get ready to unlock a world of knowledge and master the art of forex trading.
If you want to improve your forex trading skills. A variety of educational materials are available for you to explore, including those provided by these forex brokers:
- InstaForex: Offers a range of educational videos across various categories..
- FBS: Provides education through forex articles, professional trading tips, and other resources..
- XM: Provide forex podcasts for all traders.
- HF Markets: Offers a complimentary online learning program..
- RoboForex: Specializes in providing educational materials like webinars.
- ThinkMarkets: Offers comprehensive and detailed information about forex trading.
- FXTM: Provides free trading learning programs.
- OANDA: Offers a diverse selection of educational articles and videos.
- Alpari: Create Investment Academy that focuses on educating beginners.
- Grand Capital: Offers forex courses to enhance traders' knowledge and skills.
Among the five options mentioned above, there are two basic methods for starters: informative articles and demo accounts. But if you later deem it necessary to broaden your horizon with other means of learning, you may try the other 3 to see if they can help you better understand and improve your performance.