Forex Trading Classes in Uganda

There are a lot of Forex trading classes offered in Uganda, either offered by a trading school or by individuals who have a background in trading.

These classes are of varying quality, often with inaccurate advice, however, there are courses that are worthwhile and cover the basics so you can further your learning at home.

If you don’t want to take classes in person or there are no classes in your area, there are online options too.  Webinars are available at some brokers and compliment ebook learning, while online classes from independent individuals can be purchased cheaply and are often a good video introduction to Forex trading.

Online vs. Group Courses

Not every Forex trading training course is the same. Essentially, there are two types we will speak about here that are pertinent to Ugandan investors: Online training courses and individual training courses. With an online course, you’re essentially learning Forex from the ground up. Not only are you deciphering terms, calculating rates and participating in trades, but you’re also getting a feel for different software systems and platforms, as you’ll most likely be using demo accounts for hands-on learning. Since these classes are offered online, they are remote, inexpensive, and convenient. There are some online brokers that have started with forex education is central to their strategy.  Triomarkets was started to be the best online educational portal for beginner traders, so sign up for an account here and getting the most out of their material. Avatrade has a good selection of video tutorials that explain beginner concepts. Group courses put you into a classroom, either with a skilled trader helping you to learn, or your broker helping you not only to learn but to use the specific software and platform for your account. This type of training can help you to learn a lot about Forex, but the quality of the courses is going to vary greatly.

Webinars

Not all the best trading coaches are located in Uganda.  We believe that support in getting a good education is what separates the good brokers from the great brokers.

• If you want to learn how to trade for free from some of the best professionals in the world, sign up with AvaTrade to get advanced webinars, video tutorials for beginners and trading coaching in your demo account.
• Hotforex (FSB Regulated) have webinars 3 times/week with their head analyst Stuart Cowell that you just need to sign up for and they are free.

Seminars

Seminars are available on occasion.  Brokers on the Ugandan market will make visits, and extend an invite to traders who have made a deposit in their trading account.  These are good sessions, but perhaps better suited for traders who are trying to find inspiration in trading rather than learning the basics There are often international brokers visiting Uganda for seminars, and we like promoting these on FxScouts.  If you are a broker with upcoming seminars, please write to us.

The Benefits of Courses

There are some benefits that seem obvious when speaking about a Forex trading course. For instance, simply learning more about the market will benefit anyone. But it’s the individual benefits that really add up and help you to achieve success when investing in Forex. Classes can teach you a lot about Forex, such as:

• How Forex trading works
• How to create a Forex strategy
• Forex Trading Tips for Beginners
• How to properly vet and choose the right broker
• How to create charts and graphs
• Understanding the role leverage plays in trades
• Understanding PIPs
• Understanding and calculating exchange rates
• How to stay informed about world events that could help or hurt your position
• Understanding the benefits of short, medium and long-term trading
• Understanding different Forex platforms

Recommended Courses

• Colin Abrams from the themarket.co.za is very good and looks at method (technical analysis), money (risk management) and mindset (trading psychology).  Most courses are held in Durban and Johannesburg but courses in Cape Town can also be arranged.