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Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

Forex Trading: What are the Best Sites and Applications?

Choose from a multitude of sites and apps that offer resources to the forex beginner based on your background and future intentions in forex.

Source: Bloomberg

The best forex trading resources are often subjective to the individual trader’s experience, risk tolerance, and personal style. While there might not be an unequivocal “best” place for learning about forex, there is a spectrum of choices each with their own individual pros and cons.

Forex for the Casual Learner: Investopedia

Investopedia offers beginner’s guides and a multitude of definitions that can be of great resource to the casual learner trying to pick up a thing or two in a short amount of time without need for a structured syllabus.

While picking up knowledge a la carte might be enough for some, Investopedia can lack hands-on, practical material for those looking to actually trade the market. They also lack a thorough trading environment with real-time prices for the full menu of major and minor forex pairs.

Forex for the Active Learner: IG

IG is a forex provider that hosts educational courses – IG Academy – as well as strategic news-based pieces. IG also gives free access to a demo trading environment that lets new traders monitor prices with real-time data and test strategies with example buy and sell orders; additionally, both demo and live accounts can be accessed through IG’s mobile platform.

Historical GBP/USD Prices (Daily 1/1/22 to 12/28/22)

Daily historical price chart of British pound-US dollar (GBPUSD) pair Source: IG (12/28/22)

Though IG supplies a solid training ground for the independent learner, the experience can lack strict guidelines and a community feel that some new traders might prefer.

Forex for the Structured Learner: ForexSignals.com

ForexSignals.com combines guided education with a community of analysts and traders for an experience that could entice the beginner looking for A-to-Z help in getting started. After wrapping up their educational courses, new traders can tune into their trading room for live reviews of potential trade ideas and signals.

Costs can be a big deterrent for those getting started in any trading environment, and ForexSignals.com does require a monthly subscription fee for all their resources after completing the initial free trial they offer.

This information has been prepared by IG, a trading name of IG US LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. See our Summary Conflicts Policy, available on our website.

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