If you are looking for a forex mentor but on a tight budget, this article will break down 5 of the best forex mentors in the industry with various fees.
Forex trading can be complex and challenging for beginners, especially if you must learn about indicators, technical analysis, and efficient money management. Even experienced traders often feel overwhelmed when trying new, more complex strategies. This is where forex mentors can be very helpful.
A forex mentor is able to provide guidance, support, and discuss market conditions with you. Skillful mentors may teach you about market fundamentals, technical analysis, and money management strategies so that you can earn profits and avoid losses. They also advise and evaluate your trading strategies and decisions through courses, consultations, and many other ways.
Some mentors work individually, while others open their learning institutions where many experts gather, which may cost more than a single forex mentor. Some may charge monthly or annual payments, while some require just one payment at the beginning of the course.
Below are some well-known forex mentors, their prices, and their pros and cons for your consideration:
1. Asia Forex Mentor
Founded in 2008 by leading forex trader Ezekiel Chew, Asia Forex Mentor is one of the most comprehensive courses available with a one-time payment for course entry. One highlighted feature of this mentor is the One Core Program which results from Chew's more than 20 years of trading experience.
He teaches everything from risk management to psychological aspects in trading, market behavior, as well as price action. The course material is well-structured and teaches everything about the forex market.
The program includes 26 lessons with over 60 subtopics, each supported by high-quality online videos. Each lesson is equipped with Chew's personally picked examples and interpretations.
The one-time cost of the One Core Program is $997 with a free seven-day trial. If you're confident in your abilities, you can skip the trial and purchase the course for $940.
Additionally, by paying $118 per month or $1,200 per year, members can access another valuable proprietary program, the Golden Eye Group. Once in, members would have entrance to live streams of Chew's weekly market analysis, in which he explains and interprets trading setups and how he makes his trades.
- Extensive course offering.
- Studio-quality video course.
- Seven-day trial.
- World-renowned trader as a mentor.
- Multiple lessons spread over video format.
- Covers a wide range of lesson topics.
- Useful examples throughout the course.
- Comprehensive and in-depth training.
- Combination of theory and trading platform visualization within videos.
- Videos cover all essential components of forex trading.
- Those who have already traded could struggle to grasp Mr. Chew's thinking.
- No monthly payment plan.
2. Home Traders Club (formerly Traders Academy Club)
For both beginners and experienced traders looking to improve their skills, Home Traders Club could be a choice. Vladimir Ribakov, an internationally certified financial technician, founded this course to help you trade for just $297 annually. You can also try Home Traders Club with a free seven-day trial.
Students have access to a comprehensive Media Zone, which includes hundreds of recorded webinars, trading simulations, analysis videos, and live trading sessions. There is also a 24/7 connection and a lively chat room where all members can interact with Vladimir.
The most favored component of this course is the daily online live trading sessions since the sessions provide forex signals and detailed analysis. They usually discuss the mechanics of every transaction recommended during a session.
- Training for all trading experience levels.
- Extensive educational resources.
- Real-time trading ideas.
- Large and active chat room.
- Group mentoring.
- Free training tools and ebooks.
Not the cheapest
3. Thomas Kralow
Thomas Kralow offers interesting courses in basic, standard, and short programs. These courses offer various learning classes, ranging from assisted learning style, assisted plus learning style, or standard learning approach.
The price to be paid depends on what you choose. The basic program and standard learning style cost $123, paid once at the beginning. If you want to take an assisted course, you must pay $369. As for the assisted plus course, the cost is $899.
You can pay monthly, but the price will be higher. The standard course with a monthly payment method is $395 per month, making it $300 more expensive than the one-time payment. The one-time payment for the short course and standard learning style is $1,180 or $375 monthly for four months.
For the complete assisted program, you can choose a one-time payment of $2,960 or $875 monthly for four months. If you choose the short course, you must pay $2,780 upfront or $825 per month for four months.
Finally, for the most comprehensive package with a mentorship approach from Krakow, you must pay $19,980 upfront or $6,125 monthly for four months. You will save $4,520 if you make a one-time payment. If unsatisfied with any services offered, the Thomas Kralow Academy will refund your money within 30 days of the initial purchase.
- One of the most comprehensive trading programs available.
- You will get way into expert technical analysis and market knowledge.
- The course aims at equipping students with adept money management abilities and strategies.
- It is a well-structured and transparent course.
- Thomas Kralow is a highly regarded trader and has tried multiple long-term strategies that have been successful. Under his mentorship, you will have inside knowledge of these.
- The price is by far one of the costliest programs available.
- There is no free option.
Founded in 2012 by Nick McDonald, ForexSignals is one of the oldest and most well-known trading education platforms. Community members, forex traders, and mentors in this service communicate to help each other and post trading ideas. You can also find 3 professional trading mentors with over 50 years of experience there.
ForexSignals offers educational courses where you receive advanced trading tools and professional guides for seven days. After becoming a member with a monthly payment of $47, you can enjoy the following service:
- Five daily live streams with real-time market commentary.
- One-on-one with a professional mentor.
- Strategies to learn and implement.
- Trading tools and EA packages.
- Daily trade ideas and analysis.
- 350+ hours of educational video lessons.
- 24/7 live chat with fellow traders.
This trading course teaches students how to trade using their methods to identify trends and generate signals. It's no wonder ForexSignals is capable of amassing more than 500,000 members. Furthermore, its YouTube channel has about 340,000 subscribers.
Education packages from ForexSignals include the Apprentice, the Committed, and the Professional. The Apprentice is a monthly package priced at $116 per month that provides access to the Trading Room, Pro Trading Video Academy, daily live trading sessions, interactive live workshops, pro trading tools, and more. Meanwhile, the Committed package is sold for $74 monthly with additional approaches to brokers and one-on-one sessions with mentors. For $52 per month, there is also the Professional package that adds a direct line to the mentor.
- Comprehensive offering.
- In-depth educational courses.
- Mentors, proprietary trading tools, and a live trading room.
- Substantial membership discount for annual payment.
- Free seven-day trial.
- Daily live streams and market analysis.
- Insights from trading mentors.
- Community of fellow traders to discuss ideas with.
- Online video library for education.
- Requires monthly subscription.
- Mostly aimed at beginning or intermediate traders.
5. Forex Trading Coach
Andrew Mitchem, a full-time currency trader, founded the Forex Trading Coach in 2009 to provide members with daily trade suggestions (which can be accessed for 12 months after signing up for the course). Interestingly, this course does not claim that trading is easy or advertise that their course is a quick way to get rich. Instead, Forex Trading Coach provides knowledge and support that can help you succeed in forex trading.
Using their learning system will take one to three months if you are willing to learn carefully and regularly attend webinars. By paying $2,497, you can enjoy the following benefits:
- Video on risk elimination and "Reward:Risk" strategy.
- Personalized trading method.
- Help develop your trading identity.
- Training in a demo account
- Learn how to transform trading into a proper business.
- Learn online at your own pace.
- Includes 12-month access to daily trade information.
- Lifetime access to email support.
- Live webinars each week.
- Online community forum.
- Trading track record performance not verified by a third party.
Forex trading can be very confusing and difficult to understand, especially for beginners. Therefore, many people choose to use trading experts as mentors to help them learn how to trade.
Forex mentoring or coaching has become increasingly popular in recent years as more and more people are interested in becoming traders to earn extra income. This article explores the price range of popular forex mentors for your consideration. It can go as low as $47 or as high as more than $2,000. Whatever your choice would be, make sure that they're not only affordable but also provide a good trading course that checks all of your preferences.
There are also trading courses that cost nothing. Who are they and are they different from the paid ones? Read more in this article.