Knowledge is Power – Alpari US Launches Educational Division
Opinions vary tremendously on trading academies, and there is a proliferation of small, privately owned educational businesses which have sprung
Opinions vary tremendously on trading academies, and there is a proliferation of small, privately owned educational businesses which have sprung up worldwide. The vast majority of them are operated by individuals who often hold classroom based seminars with the intent of either providing an audience to whom to market their trading signals or forex software, or to sell their trading room subscriptions.
Others are IBs and use their training center or trade room as a means of introducing new clients to forex brokers for which they will receive a commission.
Join the iFX EXPO Asia and discover your gateway to the Asian Markets
The cost of such courses varies, but can be between $1000 and $3000 on average for courses ranging from two days to one week.
In contrast to this approach by independent businesses, forex brokers which have gone down the educational route have opted to do so by offering online services such as webinars, trading signals ebooks or technical analysis rather than to operate physical seminars.
Alpari is one broker which has taken the decision to offer actual site-based training courses by launching its own educational division in North America, following on from the company’s success with this concept in Russia where 3,650 courses and seminars were run between January and November 2012.
Alpari Academy offers comprehensive and unbiased introductory education to traders wishing to make informed decisions when considering entering the forex, futures, and options markets.
This new division is headed by Senior Vice President of Education, Christopher Paoletti. He oversees Senior Futures and Options Instructor, Curt Wagaman, Senior Forex Instructor, Steven Nurre and Enrollment Coordinator, Terry Narloch.
Suggested articles
ACY Securities Supports ASIC’s Product Intervention OrderGo to article >>
The group formerly comprised the PFGBEST Education Division and bring over 40 years of combined experience training forex and futures traders to Alpari.
One of the most unique aspects of this division and its courses is pure focus on education.
Alpari Academy offers flexible, no-cost and non-solicitory courses covering a period of six weeks and consisting of 12 live online classroom-style lessons, featuring special guest lecturers and visits from industry experts.
Topics include:
• Introduction to Forex Trading
• Introduction to Futures Trading
• Introduction to Options Trading
The courses utilize sophisticated technology such as video streams, live trading examples, and case studies. All courses are complemented by workbooks, recommended readings, homework assignments, quizzes and a final exam. Course graduates will receive certificates of completion.
Jermaine Harmon, CEO of Alpari (US), affirms, “In addition to providing an optimal customer service experience for our clients, we believe that education is the cornerstone of success in trading.”
“The courses now offered through Alpari Academy are unlike anything in the industry today. Led by passionate and renowned instructors, they lay the foundation for new traders to achieve a longer and more satisfactory experience in the markets.”
It will be of interest to observe the dynamic in terms of take up of the direct course by Alpari, compared with those of independents such as Learn To Trade, Knowledge to Action and Online Trading Academy, all of whom have a presence in North America and act as IBs for numerous brokerages, especially when bearing in mind that the Alpari course is free of charge and is conducted over a six week period.
Leave a Reply
This sounds like a great idea but unfortunately it cannot provide the specific signals or trade advice on a regular basis. The NFA will only allow the materials taught be specific indicators and a general history of the market. Trades need to be managed and this hardly seems like you will have the daily updates. The conflict of interest is still very much a big factor here. Some Alpari accounts take the other side of the trade. Just like in school, sometimes the best student doesn’t succeed in life. While I’m sure the materials are great, I’d think twice before… Read more »
I guess it is all about balance – those retail customers who seek training will have to weigh up whether it’s worth going with Alpari for free and then being a customer of Alpari while they are new to trading, or whether they pay up to $3000 for an “independent’ course which is only a few days long and then be placed with a broker for whioch the trainer receives IB commission or sponsorship in some cases. I dont see it as a conflict of interest so much as a way of generating an audience for new business.
Too little too late in my opinion. Having an educational portal is a great complement to their services however this is nothing new and I don’t see it gaining much traction with their audience. Alpari seems to be a legitimate company but they are too small compared to the giants (FXCM and Forex.com) and offer nothing unique. I guess it’s only a matter of time before they follow suit and exit the US.
The schools are a big part of their Russian success. In a way makes sense in US to educate as fx is not well known or understood.
Question for everyone who is reading this article. Honest opinion only please.
Do you really think people who work as an analyst know what it takes to be a profitable trader?
My answer:- If they knew..they wont be working for JOB period. No ifs and buts.
This kind of education is nothing but to increase the life of a trader.
This is a poor attempt to boost up their US base which as per the magnates latest report was a small 2,076 clients. Great customer service is no longer my take on them as the staff has dwindled down. They are also charging a late enrollment fee of $99 if you don’t sign up now. This is definitely a conflict of interest. Fxcm can provide signals cause daily fx is a separate entity. Gft had a separate entity in fx360. It doesn’t look like it will comprise of coverage friendly for west coast people. (10am, 2pm, 7pm, for futures). According… Read more »
@Sam I think it depends on the experience. If they have traded and want a less stressful job than there can be potential in the trading. But, if it isn’t stressed from the beginning that trading is hard work and requires long hours, then the instruction probably isn’t worth it. You need to want to trade and not just want to make money.
Most of the independent trainers that Ive seen use a demo account to “demonstrate” trades, and then use the seminar/training center as a plaform to sell their software, plus charge for the course. These free ones from the actual well known brokers themselves could move that on… We reported that the authorities are looking at these independent courses and could recommend people not to take them: http://forexmagnates.com/forex-education-and-training-schemes-discredited-by-wall-street-fraud-watchdog/ Of course in the case of the Alpari Academy I would expect that this is designed to increase the life of a trader, but I dont see that as such a bad thing.… Read more »