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.

Order Types

Last time we looked at BUY and SELL orders. We determined that BUY means buying the Base Currency of a pair (while at the same time simultaneously selling the Quote Currency) and that SELL means buying the Quote Currency and paying for it with the Base Currency.

Buy vs. Sell Orders

Let's recap what we learned so far - we will need this for today's lesson:

Broker Compensation - Commission and Spread

This lesson is not too long but the concepts are very important so please read it carefully and make sure you understand it.

How do we access the Forex Market?

The Currency Symbols

All currencies traded on the Forex market have a standard 3-letter code assigned to them. These are the common ones, which are responsible for about 90% of all daily Forex transactions:

Before we start looking into details of Forex trading like pips, lots, quotes and margins let us look at the big picture and go over the 4 different approaches to Forex trading and see why using automated trading software combines the best characteristics of the other three methods.