Free Forex Education and Resources for Beginners

The great thing about the internet is that we can learn most anything (short of brain surgery), just by putting in a lot of time and Google searches.

Forex trading is no different. A lot independent traders didn't have a finance background before learning to trade successfully.

They just got started with the free information that is out there, then got more specialized training along the way. 

However, as you probably know a lack of trading information on internet is not the problem.

The real issue is sorting through all the bullshit and finding the stuff that actually works.

With that goal in mind, I have compiled all of the free resources that I have found useful for beginners. 

But let's not kid ourselves…

These free resources are great, but realistically, at some point you will probably have to pay for some sort of education.

That is just how it works, unless you can get a professional to mentor you for free (not likely). The great news is that the cost is usually very minimal, especially compared to what you would pay for a formal university education.

But when you are just getting started, free is best!

So here you go 🙂 …

Free Forex Trading Strategy Videos

Let's be honest, when you are first starting out, you want to explore different trading strategies. Here's a short list of trading strategies that have worked well for me or others I know.

Remember that it's important to match a trading strategy to your personality, or it won't work. To learn more about how to figure out your trading personality, read this post.

Big Shadow Reversal

Videos coming soon. 

Free Trading Psychology Videos

Trading psychology is usually very overlooked by beginners. But it will account for approximately 80% of your success in Forex trading.

You probably don't believe me now, but here are some trading psychology videos anyway. They are much more valuable than trading strategies alone.

Videos coming soon. 

Free Forex Education Courses and Guides

• Baby Pips Forex School – This school is overkill, but it will give you a good overview of Forex trading. Take what helps you, leave what doesn't.
• Free 2nd Skies Beginner's Course – Learn the basics of Forex trading from professional trader Chris Capre. It cuts out a lot of the fat that is in the Baby Pips School and gives you only what he feels you should know to trade like a pro.
• Reddit – Here's an awesome Reddit thread with links to some great free forex education.

Free Trader Podcasts

• The Trading Lifestyle Podcast – Listen in as I interview professional traders and Forex industry experts.
• The Truth About FX – A podcast where I ask pro trader Walter Peters one question about trading and he answers it. Great if you just want one question answered.
• 2Traders Podcast – Professional Forex traders Walter and Darren talk about everything that comes with trading for a living…and some random stuff too.

Free Forex Charting Software

Here are the best trading/charting platforms that I've used for Forex trading. There are others out there, but these are far better…and they can be used for free.

• TradingView – This charting/trading platform is awesome. Use their charts for free, or subscribe and get access to their advanced features.
• MetaTrader – I used to use MetaTrader, but I don't anymore because it's really outdated. However, a lot of brokers only use MetaTrader, so it's the only option for some traders. The platform is still decent, so download it and give it a try. You might like it better than TradingView.

Forex Related News and Tools

• Forex Factory Calendar – There are a lot of calendars out there, but this is the only one that I feel is worth using. Be aware of major news events coming up because they can add a lot of volatility to the markets.
• Retail Sentiment Tracker – This free tracker shows you the net retail trader positions from different brokers. When retail traders are all mostly trading in one direction, that can be a good indication that the professional traders are taking the opposite position. Not a guarantee of course, but it can be a good clue.
• Risk of Drawdown Calculator – How much should you risk per trade to avoid a X% drawdown? This calculator will help you figure it out.
• Risk of Ruin Calculator – It's essential that you know the risk of ruin for your trading strategy. Use this calculator to figure it out.

Trading Tutorial Videos

• Bloomberg – A collection of forex trading videos. They teach everything from terminology to market analysis.
• INO TV (Free) – Some free trading videos from INO. Theses are general trading videos, but they are useful for getting ideas and learning basic trading methods.
• YouTube – Follow the Trading Heroes YouTube channel to get free tutorial videos.
• MetaTrader 4 Tutorials – Here are a few MetaTrader 4 tutorials that I created that might help you.
• MetaTrader 5 Tutorials – Free tutorials for MT5.
• TradingView Tutorials – Learn how to use the browser-based TradingView charting/trading platform.

General Finance Reference

• Investopedia – The most useful part about this website is the Finance dictionary. There have been more than a few times when I had to look up the definition of a term and I couldn't find it in a regular dictionary. Baaam, enter Investopedia.
• Bloomberg – When I need to get a little more in depth information on a news topic, I usually go to Bloomberg. I find it easier to read than other similar sites.
• Market Updates From INO – Sometimes it can be difficult to keep an eye on non Forex markets such as gold, oil, interest and the stock markets. This free daily market update is an easy way to stay in touch with your intermarket analysis.

I hope this helps you get a head start on your Forex trading education.

Do you know of any free resources I have missed? If so, let me know in the comments below…

Disclaimer: All of the links above are totally free. If a link has changed and the resource is no longer free, contact me and I will remove it immediately. Some of these links are affiliate links where I get a commission if you choose to purchase, but it doesn't cost you anything extra and I only recommend sites/products that I have checked out and believe in. A portion of the proceeds go to my charity partner.