An Honest Review of MyTradingCollege custom FX courses
2020 has been an unprecedented year so far, and the effects of everything that occurred will be felt throughout the world for the foreseeable future. The pandemic has altered the landscape of many industries, leaving many people to re-evaluate their career choices. At a time when many people lost their jobs, there was one industry that seemed to be unaffected by all these changes. In fact, the spike in interest has even made it more popular than ever. We are, of course, speaking of online trading. The ability to work from home has proven to be priceless this year, and this is seamlessly just one of the many perks this industry offers.
New Emerging Trends
This massive influx has also given birth to another type of business. Given how many people have never had any prior experience trading, there is a huge market for education providers. We have all seen a movie or two depicting a broker’s life and desired all the excitement and financial benefits that come with it. However, we cannot understate just how complex the world of online trading really is. While some of you will experience beginners luck, long-term success is practically impossible without having a profound understanding of the trading world.
There are many websites offering some type of education. Some of those have even sprouted up recently as a direct result of the increased number of newcomers. Wherever there are new trends emerging, you can be sure the scammers will follow closely. The forex education department is no exception here. It can be a challenging task for a beginner to figure out if he will be spending his money on a good forex education course or if he is being scammed. Luckily, there several fool-proof ways of determining this.
Without even spending a penny, you can get a good feeling if any education provider is worth your time and money. When looking for red flags, these are the key parameters to look out for:
- Type of Content
It is important to offer a different type of educational material because each one of us has a different learning style. While some prefer visual narration, others will enjoy aural or verbal. We have noticed that some educators offer only written guides, thus alienating a big portion of people interested in trading. MyTradingCollege does a great job offering numerous ways for their students to learn. These methods enable for each student to learn at their own pace which is a huge plus.
- Time & Cost
Some courses are shamefully just copying the Wikipedia basic articles, repackaging it and offering as their own brand-new material. These can luckily be easily spotted by observing the amount of material on offer. Most legitimate courses will include an exact number of pages/hours of material they offer. Additionally, if you notice a huge disparity between the amount of material on offer and the asking price, you should tread carefully. There is no need to overpay for a forex education course but be on a lookout for the surprisingly cheap offering.
Since the majority of these courses do not offer 1on1 sessions, the majority of the content you will be consuming will be one-sided. Since you will not be directly interacting with your teacher, it might seem difficult to determine their competency. However, you can say a lot about an education provider and their staff just by browsing their website. Be sure to look out for design structure and grammatical mistakes as these mistakes are often translated into poor content. For example, MyTradingCollege offers a professional design that speaks volumes on their dedication and level of expertise.
- Wild promises
When heading directly into the world of sales, you should be aware of the excessive marketing lingo. While it is normal for any type of business to try to highlight all of its features, offering too many wild promises is often a sign of a scam. Many experienced education providers rather have their product speak for themselves and have word of mouth as their main attraction. If you see too much unrealistic “guarantees”, you should best avoid those websites.
Even though there are many scammers out there, you shouldn’t be discouraged by them. More than enough forex education providers out there offer great packages that can help you start or simply upgrade your trading career. A great example of this is MyTradingCollege. By offering great value for money, they managed to become a respected brand in this industry.
Their offer if flexible enough to cover a wide range of traders. Personalized coursed start at just €250, for absolute beginners, all the way to €2500 for those wanting the most comprehensive coverage of everything trading related. Below is an in-depth coverage of what each of their personalized courses has to offer:
- The Turtle
This is the course designed to help out the complete beginners. If you haven’t spent a day trading in your life, this should be your choice. With more than 100 pages, there are numerous eBooks that introduce you to many trading fundamentals. If you, on the other hand, prefer videos, there are near two hours of video on demand. These tutorials help you understand proper platform navigation and adequate use of trading tools. Speaking of which, students can learn how to make the best use of some of the most commonly used ones including the economic calendar, market news and the glossary.
- The Shark
The Shark offers a more advanced look at the forex trading industry. This personalized course costs €500 and in return offers many valuable concepts. Aside from the additional, in-depth eBooks and VoD, this course teaches you the importance of asset trends, daily analysis and daily signals. Every successful trader uses these tolls each day, so it is essential to learn about them. One of the biggest inclusions in this package is trading psychology. Understanding how to trade without emotion and recognizing common pitfalls is one of the most important things to master when considering online trading. Not a lot of competition includes this, so were pleasantly surprised to see how MyTradingCollege was able to include this.
- The Whale
The Whale is the top of the range. At the time of writing, this personalized course is on discount. Instead of regular €2,500, traders can now buy this course for €1,000. This is incredible value given how much assets you receive. In addition to all content the previous two courses include, you will get a chance to learn how to perform our own fundamental and technical analysis and develop all types of trading strategies. Beginners can dive right into this package if their budget allows it. However, if you are certain you want to become a forex trader, that you will hardly find better value for money.
Power of Feedback
Even the most elaborate course can end up being a waste of time if it cannot provide appropriate support down the line. Regardless of whether you are a complete beginner or have prior experience, you will at some point encounter an issue you will need help with. MyTradingCollege offers a single communication channel that is open to both paying customers and curious individuals. It is surprising how efficient this method is. No matter how many times we wrote to them, MyTradingCollege representative was able to respond within the hour, and provide a satisfying response. Despite being accustomed to having more methods of communication, we cannot deny that this way is pretty efficient.
Trading forex can be a very rewarding experience for many. Before this becomes a reality, you need to learn the ins and the outs. There is considerable risk involved and this will certainly outweigh the earnings for those willing to dive right in without being fully prepared. Traders need to devote plenty of time on their education as it is the most important aspect of online trading. This gives them the power that enables them to make logical decisions and continue earning from trading in the long run.
MyTradingCollege is an excellent choice for both beginners and experienced traders alike. They offer plenty of flexibility to those wishing to learn everything from the ground up and those just wishing to update their skills. We were happy to find out their support system is run by competent people who can adequately address all and any issues thrown their way. If we could only see additional communication channels for those who prefer to talk over the phone, we would have given a perfect score. As it stands, our final score for MyTradingCollege is a 4.5/5.
Our score: 4.5/5