bruce Anane
The exploration of the global foreign exchange market continues to attract investors and enthusiastic traders. However, recent macroeconomic turbulence due to the pandemic, supply chain disruptions, and geopolitical tensions have caused seismic shifts in the foreign exchange market, creating an atmosphere of uncertainty. Investors have begun to reverse their positions by taking short and less leveraged positions in the foreign exchange market. Similar situations are occurring in the stock market, as an increasing number of seasoned investors opt for more volatile investments in an unexpected growth context. Forex and stock traders are unsure of what the next few months will bring, and for beginner traders looking to enter the markets, this can become increasingly risky as conditions remain volatile in many economic sectors. Reputable educational resources are becoming increasingly difficult to find. Understanding the market can help young traders better understand how to manage their expectations and investment decisions. While technology-based trading platforms are becoming more widespread, more and more traders have access to the democratic Forex market – but that doesn’t mean they have the skills and knowledge necessary to help them develop winning strategies. Today, there are not only an unlimited number of forex brokerage platforms, but there are also tons of accessible educational resources and materials for everyone. Despite untapped knowledge and access to Forex market research, young traders who are just starting their trading journey on Forex are often considered poor learners. Data has revealed that even though thousands of people enroll in Forex training courses, only 27% of students typically watch the video lessons in the correct order. Many learners also miss out on essential knowledge related to course materials and training opportunities that would help them gain a more adequate understanding of the foreign exchange market. While this is just one example, incidents like these create more problems for young forex traders who are not yet comfortable enough to execute their trades or develop solid trading strategies. Finding reputable resources has also become a significant challenge over the years. Ensuring that the information young traders are exposed to and consume is accurate, or even accurate, has become a burden to properly manage. Forex brokerage platforms have since taken on the responsibility of providing traders, whether new or experienced professionals, with numerous information resources to help them expand their capabilities, but also to keep them more accurate on developments in the Forex trading market. Best Forex Broker Educational Platform For young traders, or indeed anyone, they need to understand three basic principles when choosing a forex broker platform. The first principle is to know whether the broker is a reliable and well-regulated brand with the relevant authorities. Secondly, having a platform that ensures users have access to the right educational resources and a variety of content. Lastly, using a user-friendly platform that is accessible via desktop or mobile devices. Using actionable market research provides users and traders with better information and can ensure they make more informed trading decisions before or during their trading activity. Below, we summarize some of the most reliable and suitable forex brokerage educational platforms for young traders. AvaTrade Established in 2006, AvaTrade has received immense support from inexperienced and experienced trading professionals. The platform offers around 44 different currency options and an additional 1,200 CFD options. However, in terms of the availability of educational resources, AvaTrade has been recognized for its extensive educational materials, which provide traders with the knowledge and skills they need to navigate the foreign exchange markets. AvaTrade’s education center offers 103 comprehensive articles on beginner and advanced topics, and its SharpTrader offering includes in-depth courses categorized by experience level. All of their courses include content in written and video formats, have a progress tracking indicator, and have integrated quizzes. In addition to the presented content, the platform regularly explores niche topics, with video content published on YouTube, hosting video webinars, and a Vimeo channel. The platform is currently regulated in three different level 1 jurisdictions and four level 2 jurisdictions, making it one of the safest and most regulated platforms for new CFD and Forex traders. eToro Perhaps one of the largest and most widely used forex brokerage platforms, eToro currently has over 17 million registered active users on the platform and a wide range of features and resources in addition to the third-party analysis site, TipRanks. While eToro does not have internal educational material, the company has recently launched the eToro Academy, which now allows beginner traders to have more structured access to essential resources. New traders can take advantage of the eToro Academy as it includes a variety of videos, podcasts, guides, and webinars hosted by professional traders. The content is categorized by experience level and covers various financial segments such as stocks, cryptocurrencies, and most importantly, forex trading. While their internal research requires more work and attention, users who have access to the eToro Academy may have access to one of the most comprehensive digital trading libraries. forex.com Forex.com focuses solely on providing traders with privileged access to the Forex market and assisting them with the educational material they need to improve their skills as they familiarize themselves with their trading strategies and techniques. For educational purposes, Forex.com has an incredibly user-friendly desktop platform, and new users can take a beginner’s quiz to help them navigate the range of available resources. The available research and documents are categorized by experience level, meaning that whether you are a professional or have some knowledge, all documents are divided based on a person’s experience level. While the platform attempts to provide traders with the necessary information, they are unlikely to acquire the skills needed to become reputable or experienced traders. This will encourage users to access additional research and documents that can help support their trading method. IG For new traders who often feel intimidated by forex brokerage platforms, IG is considered one of the most user-friendly options and offers a range of educational materials accessible through its online platform. One thing to note with IG is that there is not a lot of fundamental data available, meaning traders will need to find additional complementary resources elsewhere. Nevertheless, the provided material is sufficient to help beginner traders better understand the Forex market. Interactive tools and charts or technical indicators help traders better understand how major economic changes and events can affect the market. The platform has around 30 technical indicators, and users can easily edit or make changes to any chart. This allows traders to mark significant events as they occur without having to put in extra effort. Additionally, there is a live and regularly updated news feed powered by Thomas Reuters, providing traders with on-demand access to the latest headlines and news as they unfold in real-time. Another noteworthy point is the platform’s IGTV, an integrated news video service that releases approximately four editions each day. IG strives to provide young traders with a more in-depth insight into the foreign exchange market without becoming too technical or creating an intimidating user interface. Interactive Brokers With Interactive Brokers, traders will benefit from an increased selection of investments and access to their sector and Forex market research tools. The only
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