No is the short answer. You should not trust a forex trading educational course as far as you can throw it.
Chances are it will be a scam.
Forex trading educational courses make money by either charging you for some hopeless basic training on technical analysis. Which is incredibly difficult if done right. They will probably try and scam you into paying a fee so you can trade from home and for some sort of flashy lifestyle. Or they will refer you to a broker and get a payment when you fund your account.
Most spread betting customers lose money because they run before they can walk. If you are considering enrolling on an educational spread betting course it is a clear sign that you are not experienced enough to be trading on margin.
Scam forex courses are usually free to attend and do cover the basics of technical and fundamental analysis. However, the main purpose of the free courses is to try and sell you access to a private trading tutor or another investing course that could cost thousands of pounds. Or they will refer you to an unscrupulous broker and then split the proceeds when you lose all your money be being B-booked.
Even though forex trading and spread betting makes the market accessible to everyone, it doesn’t mean that it is appropriate for everyone.
To learn about investing and trading the financial markets it is important that clients get the fundamentals right first. If you feel you need help with your trading you will lose money.
If you want to learn about the financial markets with the intention of becoming a professional trader get a job in the city. Entry-level jobs at spread betting firms and stockbrokers are easier to get than you think.
Or if you are not quite ready for a career change yet read these books on spread betting as a starting point.
Better still read our guides on ten things to understand before you start trading…
1. How to use support and resistance levels in trading
2. Using Moving Averages Effectively – Part 1
2.5 Using Moving Averages Effectively – Part 2
3. Momentum indicators and trends change
4. Understanding Price Breakouts and its Significance
5. Q&A On Price Patterns With Jackson Wong PhD
6. The Importance of Group Analysis
7. Three Chart Characteristics That Precede A Trend Change
8. Thoughts on trading the market via Breadth
9. Six Market Trends To Look For Outside Individual Price Action
10. The Key To Long-Term Investment Success – Know Yourself…
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Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.