The world of forex trading can be a somewhat bewildering one when you are first starting out. Thankfully, there are plenty of educational websites out there to show you how to trade successfully. Here are some of the best of them.
Babypips.com
This is without a doubt the best educational forex site on the web. It offers a well-written step-by-step guide to the ins and outs of forex trading, augmented by helpful and illustrative pictures and animations. Unlike the vast majority of educational forex websites, which are dry in tone and stuffed with impenetrable jargon, the articles on Babypips.com manage to be friendly and informal yet clear and authoritative. As well as the educational articles, there is a forex blog, a forum, and a variety of useful trading tools.
Informedtrades.com
This website bills itself as “The Largest Free University for Traders”, and it certainly lives up to this claim, with huge amounts of educational articles and training courses aimed at everyone from the first time trader to the experienced professional. The sheer volume of educational materials on this site can make it a little difficult to find what you want, but once you have got to grips with this huge resource, you will find that it is one of the most valuable at your disposal.
Kathylien.com
Kathy Lien is an experienced forex trader who has written a number of highly-regarded books on the subject, and her personal blog is a great place to pick up hints and tips as to how to improve as a trader. It is updated frequently with news, analysis, and advice articles, and as you would expect from a published author, the posts are clear, entertaining, and informative.
Investopedia
If there is a specific aspect of forex trading that you wish to understand, then Investopedia should be your first port of call. It is basically a version of Wikipedia that is dedicated to the world of finance, providing short, waffle-free explanations of every aspect of finance. While the entries do not go into as much detail as their Wikipedia equivalents, this can be a good thing, as it allows you to find the information that you require much more quickly.
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