Best Free Ways to Learn How to Trade Online

I tried some of the most popular methods to find the best free ways to learn how to trade online. This is what I learned.

From learning how to cook a recipe to reverse engineering an entire website, the world wide web is full of tutorials, “How-to’s”, and paid courses. Trading is no exception. If you’ve shown ANY interest in the matter there’s no doubt that you have been targeted for ads made by ‘gurus’ who say they make thousands a day, live a life of luxury, and tell you that you too can “Make It” with X amount of tips.

The catch is you have to buy their course.

If you’re like most people, you’re wary of these online gurus who promote an idealized lifestyle rather than a specific course. You’re probably seeking legitimate instructors or a free course.

While there are people that are serious about teaching you how to trade, we will focus on the free alternatives in this post. Because you might just want to gain a sense of what trading is before taking the next step.

How to Learn Trading Online For Free

Just so you get an idea of the methodology used for the research in this article we focused on some of the basics:

• Quality of the educational content
• The learning process (is there a clear and concise order to the course)
• Tools provided (if any)

And when possible, we did some digging around to see if any people had previous learning experiences with these free methods.

But which courses did we pick? Well… we ran a quick Google search and looked at some of the top-ranking results, as they are probably what people are clicking on the most. That being said, we will review the following:

• Baby Pips
• Learning services offered by brokers
• TradeGATEHub – Social Trading
• Searching on the internet and applying the “practice makes perfect” mantra
• The “natural” way – Going off on your own

Before we get knee-deep into the article, keep in mind that you are going to have to learn some of the basics of economics – there is no need to get a degree in that area. You just need to learn the basics, probably to the point where you understand how a country’s economy works if you don’t know already.

Learning about the international market and what makes it move is the first step into trading.

This is usually something that courses won’t offer you, but the good news is that you’re always a few clicks away from discovering all sorts of information (isn’t the internet great?)

Baby Pips

Babypips is a website that provides trading ideas and tips. It is intended for beginners, although it can be used by traders of any skill level. The site provides a variety of resources to help traders increase their knowledge base, including currency charts, forex news, country profiles, and more. 

Furthermore, Baby Pips offers a forum where you may seek trading advice and collaborate on ideas with others.

Suitable and Engaging Content for Beginners

The content creators at Babypips do a fantastic job of making learning how to trade FX entertaining. If you enjoy the occasional joke, be aware that the vast bulk of them are crude jabs at the markets.

If you’re like that, this can be a fantastic approach to learn about trading. They also provide a wealth of knowledge regarding FX trading. As a result, they cover practically everything you could believe is vital for a trader.

The fact that Baby Pips doesn’t oversell forex trading is one of its distinguishing features. They do a terrific job of giving really sensible advice that will help in your ability to create reasonable expectations for the markets.

Not So Good for Seasoned Traders

If you’re an experienced forex trader, you’re probably familiar with the forex education scene. With Baby Pips, you’re sure to appreciate how straightforward their program is. 

Yes, the teaching material is oriented more at novice traders. However, you can’t help but be impressed by how honest and straightforward their stuff is. You won’t find any sneaky car salesman tactics used to try to upsell you into higher-tier programs.

OVERALL: Baby Pips isn’t quite deep enough for traders to progress to advanced levels. However, you have to give them credit for providing solid educational information for aspiring traders.

Educational Services Offered by Online Brokers

In order to analyze the quality of the instructional materials on the market, we evaluated the training programs of two brokers. We observed that brokers frequently promote their services in their content. Given that the content is free, this is not a big surprise.

Some brokers have quality videos for their educational content. Their first few lessons, however, feel as though they are doing step by step how to create a Demo Account. They will also use some fundamental forex terminology, which you can look up in a glossary.

To get the most out of these free classes, supplementing your trading on a demo account is one of the best ways to ramp up your learning. Of course, it’s natural to feel overwhelmed at first, particularly if you’re new to trading. You will, however, be able to observe how much you’ve learned over time. 

Also, learning the terminology will make your life easier when you want to do an accurate ‘How to‘ Google Search.

Are the Tools They Provide Any Good?

In most cases, you’ll be prompted to create an account right off the bat. Usually, your new account will come with a Demo. Most Demo accounts will be on the MetaTrader 4 and MetaTrader 5 platforms. If you want to learn the difference check out his article. 

One of the key characteristics to look for in a demo account is the delay time. Most online trading platforms don’t provide real-time data. Instead,  they delay stock quotes by 15 or 20 minutes. So while you will still learn you’re not going to have real-time access to market data. 

However, if you’re a rapid trader, getting real-time quotes rather than delayed quotes can be crucial. When investing, you’ll know exactly where the market is at all times. 

Tradeview Markets offers a free demo account with real-time market data. Not only that, but they also help you reduce your trading costs by providing the industry’s tightest spreads.

Finally, check to see if your online broker has created a community around their brand. The appeal of social trading platforms, especially among new investors, is undeniable. Many people now have new access to trade thanks to these platforms and this style of trading in general. 

More experienced traders have expertise that can help you get a good start. Some brokers have created wonderful communities for their traders to participate in. TradeGATEHub is a community for traders. From expert live trading sessions to discussion boards, users get a great look into what professional trading is all about.

A Closer Look at Their Educational Content 

Many online brokers center the bulk of their training material around the technical aspects of trading. Needless to say, the technical details behind trading, like knowing how to read chart patterns, are crucial for success. 

However, far too many of them overlook one crucial aspect of successful trading: the psychology behind trading.

All forms of trading entail some level of risk, regardless of your experience level or whether you’re just getting started. Therefore, understanding how to control your emotions can significantly improve your trading performance. Learning emotional control through psychological tactics is one of the key lessons in developing successful trading habits.

The bottom line: You should be aware, like with Baby Pips, that this form of free learning provides a limited experience. Most of the time, it’s a marketing ploy to increase sign-ups. That is not to suggest that there isn’t some high-quality entertainment available.

TGH – TradeGATEHub

TradeGATEHub is a community for traders that offers a different kind of learning experience. You get to learn directly from professional traders in real-time. It’s as close as you can get to getting an over-the-shoulder learning experience with real industry professionals. 

With live trading sessions, real-time stock analysis, and expert guest interviews. Your learning experience will be more hands-on. Just make sure you’re also learning the basics and understand the lingo along the way. 

Of course, the best way to follow along without risking your money is to create a Tradeview Demo account, which is completely free to use. If you’re ready to jump right into the account with Tradeview, you can open a live account here. 

TradeGATEHub presents educational content through a more dynamic learning system. Reflection and real-life examples are the key players, and being part of the community is not limited to beginners, intermediate, or advanced traders. Anyone, regardless of trading experience, can benefit from joining the community.

The weekly live webcast is one of TradeGATEHub’s most exciting features. Here, seasoned experts share their market insights gleaned from independent research. While this is going on, traders from diverse backgrounds talk about their successes and failures in the comments section.

There may be other live stream events throughout the day, and they usually have a special guest interview each week. 

You have nothing to lose, and everything to gain by joining the TradeGATEHub community today. Not to mention, the sign-up is 100% FREE. You’ll get access to expert trading insights and unparalleled free educational sources. 

The Online Community (The Internet)

I’ve recently developed an interest in the Redditors’ community. Sure, there are trolls and individuals who don’t know what they’re talking about half the time. But, well, we’ve all met such people.

For those who don’t dabble as much on the different online trading communities, chances are you’ve never heard of Reddit before. Reddit is a great space where you can find like-minded individuals. We decided to see what recommendations the Reddit community had to offer. 

One of the most popular and notorious Reddit trading communities is r/wallstreetbets, also known as WallStreetBets or WSB. WallStreetBets is a Reddit community where people talk about stock and option trading. It has become well-known for its flamboyant and obscene vocabulary, aggressive trading techniques, and harassment. 

Most notably, WallStreetBets played a significant role in the GameStop short squeeze. This resulted in losses for some US corporations and short sellers in a matter of days in early 2021.

What kind of trading knowledge can you gather from the internet?

For the most part, the advice one can get on Reddit is guided towards books and tips on how to learn. You can find anything from recommendations telling people to learn to play poker and blackjack to master emotions. 

To be clear, there is also legitimate content aimed at teaching you about the industry and how trading works. In addition to being a place of learning, Reddit offers people a guided DIY, which for some is more beneficial.

Even if you do decide to take a course (free or paid) you should always try to learn and do research on your own. No matter how good a course is there are always gaps to fill. So, branching off and exploring your own knowledge is key.

The internet is full of information, much of it unfiltered/unchecked. Needless to say, you should do all possible to ensure that the information you receive is based on actual research from reliable sources. 

However, if you take the time to learn, you will begin to come across useful information and reliable sources that will assist you in your trading adventure.

Some trustworthy sources that you access include: Bloomberg, CNBC, Barron’s, MarketWatch, and The Wall Street Journal. Many experts around the world rely on the analysis provided by these publications. Therefore, so should you! 

The Tools offered on the Internet

The internet has an infinite list of trading tools available. Again, like with the information you gather, you’ll get many recommendations. So it’s all up to you. But don’t take my word for it, try out what you think will work best for you and choose on your own.

 There are some pointers that you should keep in mind when looking for trading tools:

• Accuracy – of charts and Demo account. You’ll ideally want to get a demo account that gives you free access to live trading data.
• Ease of use – you don’t want to overly complicate your life, you just want a Demo account that can help you learn.
• Possibility of creating a real Live account with them – If you want to learn to trade, odds are you are going to open a live account. Choosing a platform to demo should be one that you’d consider doing business with.

The Ultimate Learning Experience

Life, they say, is the ultimate learning experience. And there is no doubt about it when it comes to trading. You could spend your entire day taking classes and practicing on a Demo Account. The true learning occurs once you get out there.

You will make mistakes no matter how you trade, and that is fine. Mistakes, like in life, are unavoidable if you do not risk more than you can afford to lose.

Make sure you’re not “trigger happy” while you’re looking at a trading method. Educate yourself, learn to forecast the markets, and obtain a Demo Account. In contrast to real life, mistakes on a demo account are free.

OVERALL: Some people are self-starters; they carve their own path in life, which includes education. Joining forums that host communities, such as Reddit, is a good idea in general because it provides you an idea of what others are thinking about and may provide you with a new perspective on specific occurrences.

However, if you want to learn how to trade on forums, you must be cautious because you will almost certainly receive a slew of contradictory responses. Nobody thinks the same way, so bear that in mind when looking for other people’s experiences. This brings us to my final ideas.

Final Thoughts

The number of online trading courses available can be intimidating. We hope you find our review of this tiny sample size of learning tools and free ways to learn to trade online useful.

Because trading is not the same for everyone, learning to trade is not the same for everyone. 

You can take a course or learn on your own as long as you master the fundamentals and most crucial aspects of trading:

• What the market is and how it reacts to current events.
• In basic Macroeconomics, you need to understand how a given country’s economy works.
• Fundamental vs Technical Analysis
• Reading charts will help you make price predictions
• How to manage your emotions, this really can’t be taught but you can certainly receive tips on how to manage them and some exercises to practice.

Conclusion

You should constantly strive to have fun with what you do. When trading, many people become emotionally involved. People who are just starting out are sometimes too impatient to plan for the long term. 

Learn from your mistakes and continue to learn. Trading isn’t a get-rich-quick scam, so find a method to enjoy the experience.