This review is a quick comparison of some of the most popular Forex Online Course programs versus similar offline education such as the courses offered by Trading Academy.
Note that both Forex Mentor and Forex Brotherhood offer a money back guarantee which is a very important feature as it allows aspiring traders to enroll essentially risk-free and it also shows the organizers' confidence in their own services.
The money guarantee offered by the Forex Brotherhood online course (60-day, 100%) is definitely better than that of Forex Mentor, which is 30-day and includes a deductible of around $50.
|
Trading Academy – Beginner |
Trading Academy – Advanced |
Forex Mentor |
Forex Brotherhood |
| Price |
$1,295.00 |
$2,995.00 |
$495.00 |
$550.00 |
| Duration |
2 days |
4 days |
3 months |
unlimited* |
| Price / day |
$647.50 |
$748.75 |
$5.50 |
$6.11 |
| Course content |
? |
? |
Excellent |
Excellent |
| Bonus Value |
no bonuses? |
no bonuses? |
OK |
Excellent |
| Teaches a proven mechanical trading system |
? |
? |
YES |
YES |
| Includes indicator tools as bonus? |
NO |
NO |
YES |
YES |
| Includes automated trading tools as bonus? |
NO |
NO |
NO |
YES |
| Live Market Reviews |
NO |
NO |
1/day |
2/day |
| Live Trading Sessions |
NO |
NO |
NO |
YES |
| Access to a community of traders, e.g. forum, chat? |
NO |
NO |
YES |
YES |
| Member questions answered by host? |
YES |
YES |
YES |
YES |
| Host/lecturer is a credible and experienced Forex trader? |
? |
? |
YES |
YES |
| Host/lecturer holds off-line events (seminars, workshops)? |
YES |
YES |
YES |
YES |
| Host/lecturer has published books on the topic? |
? |
? |
? |
YES |
The total cost for FB and the price per day for both FB and FM Forex online course programs was calculated based on a 3-month course duration. This is typical duration for a Forex online course but in reality Forex Brotherhood allows unlimited membership to their web-site so you may continue using the resources and live video sessions for an unlimited period of time.
Another thing to watch for is that although TA call their courses "on-location" the "location" is actually one of their training centers. They have quite a few in the USA, one in Toronto, one in London, one in Dubai and one in Singapore but if you are not located in one of these areas then you should also allocate some money for travel and accommodation expenses which will drive the already high price of their forex education course significantly higher than the price of their online competitors Forex Mentor and Forex Brotherhood.
Both Peter Bain (the creator of FM) and Alan Jankovsky ("Forex Brotherhood") are long-time traders with vast experience. For example, Alan has written two books on the subject, which you may also consider getting a hold of (look in your bookstore or on amazon), as part of your Forex education. The one thing that I particularly liked about Peter's online course is that it comes with some 20 CDs and printed material which remain in your possession even after you complete the course, whereas FB mostly makes their data available through their web-site. Yes, you can download it and save it on your computer but it's a bit of a hassle...
Aside from this minor oversight, Alan Jankovsky, in my opinion, has done a better job of making a newbie Forex trader at home in his online Forex community than Peter, whose online course lacks the personal touch of Alan's "brotherhood". Every new member that joins the "brotherhood", is met with respect and personal attention. pro Mr. Jankovsky is not only going to be available in the online chat rooms, but he will also take initiative to personally phone each new trader to welcome them to the FB family.
That's why my personal recommendation would be to go with Forex Brotherhood - it simply offers much more value for the money, and the price of FX is only slightly higher than the price of Forex Mentor - definitely worth paying the small difference. Coupled with the vast arsenal of bonuses and the rock-solid 60-day guarantee it will make it virtually impossible for anyone joining the FB Forex online course to fail in their Forex education and trading!
Alan Bentler