Review of courses on forex

Review of courses on forex availableReview of courses on forex

Review of courses on forex alternatives open to people wanting to learn how to trade forex or to spread bet, particularly here in the UK where we are based.

We feel strongly that providers of courses on forex can tend to be a bit sneaky! The tricks that we have seen include:

  • Inviting folk to a “free” training course only to subject them to a hard sell of something much more expensive.
  • Inviting folk to a “cheap” training course to lull them into a false sense of security – only to have attendees pay to be hard sold a much more expensive product.
  • Failing on promises of on-going support
  • Failing to demonstrate live and in real time that their trading systems actually work.
  • All of the offers rely heavily on using stop loss orders instead of hedging as defence.

Frankly we believe these tricks to be unforgivable. We are aware that there are unemployed people, pensioners, people with failed businesses, people with inadequate pensions and many other groups who desperately need an additional income but who can ill-afford to pay through the nose for something that may not work for them.

At courses on forex we decided to root out these issues and to ensure that our offer remains completely free of the, as we see them, sharp practices involved. Therefore, we “Googled” various popular forex training course finding terms and looked at the main training options that the results brought forth, and here they are in no particular order:

Jimmy Young course

I actually attended Jimmy Young’s 2 day seminar in London and paid my £197. It was not too bad and I have to say that I did learn some useful stuff particularly in the area of new trading. However, it was all about selling a 5 day course in Guernsey that costs £2,500 as well as flight and accommodation costs.

Jimmy is a nice enough guy and he does genuinely seem to care. However, his style is such that he must have told us 30 times how he worked, many years ago, for a whole plethora of banks. I felt like quipping that he must not have been able to hold down a job! He was also very careful not to give enough information to make the expensive course unnecessary.

The “cheap” course was opened with a statement to the effect that it would move our chance of success from luck based 50:50 to 55:45 in our favour. As you can imagine he was not happy when I showed him my account that has over 1,000 successive winning trades.

Learn to trade / Knowledge to action

These two seem to be the same provider just using different search terms to try to capture more of the market. The offer is pretty standard live training seminars and the price tag, after the free “teaser” session is again £2,500. I definitely don’t see the need for these prices if these people are actually any good at trading. There seems to be very little follow-up support and the company has suffered from some poor media reports. I kept well away from this one.

No obvious proof that the systems work apart from recorded testimonials which may be real I suppose!

Online trading academy

A very whizzy website. However, they can afford it as the main course seems to be priced at £3,995 again for a live seminar. I could not see anything special about this crew at all. I am not sure, but it looks like a franchise and may have heavy franchise fees to pay.

Once more, defence is based on stop losses and there is little evidence of success that can actually be checked.

Forex Training works

Not too bad. This is a webinar based training programme that comes in at £595. Not bad, from their perspective since their costs are minimal. But, it is the same old stuff and there is little evidence of success. I would happily take them on in a trading contest!

FX professional

A bit different this one – pay monthly. You can choose different levels of membership at £75, £125 or £175 per month. This could soon add up to a huge amount. However, at least it is real time support.

Courses on Forex

This is of course my offering and brilliant it is too!

Low cost, demonstrated daily that it works on a live blog. Life-time mentoring and support included, no hidden extras, no hard sell. Delivered directly by the founder, makes its money from trading not from training, testimonials.

Join in on the review

If you have attended any of the above courses, or any others and would like to add them to this review then please feel free to leave a comment with full details below.

Live course Webinar Download / DVD Subscribe
www.coursesonforex.co.uk £300
Forex training works £595
Learn to trade £2500
Knowledge to action £2500
UK ForexMasters £2500
FX Professional £75, £125 £175 pmth
Forex Mentor £175
Straightforex £650
VinceStanzione £197
Learn trading £1150 £320
Online trading academy £3,995 £259

 

If you would like to review any of the above courses or if you have an update on prices then please feel free to leave a comment and let everyone know.

The opinions expressed in this blog post are personal and it is possible that things may have changed or even that mistakes may have been made. We do not suggest that any decisions should be based on them; they are for the purposes of discussion only.

About The Author

Jeff Fitzpatrick

Probably the UK's most successful home Forex trader