Tradable announced that one of the industry’s newest entrants, Lex van Dam, has integrated trading apps on its platform. A former Goldman Sachs trader and hedge fund manager, van Dam is attempting to shake up the ‘trading seminar’ sector through the launch of his Lex van Dam Trading Academy.
While there are trading educators with positive track records, as well as lots of free quality content on YouTube, the trading education sector has received a lot of negative attention. This has been due to scammers who charge thousands of dollars for their courses using ‘become a millionaire’ type marketing promotions, as well as others that funnel students to shady brokers who provide the educators a revenue split on the trader’s eventual losses.
Using a new approach, van Dam’s academy is similar to Udacity and other marketplace online course providers. Using long form class structures, sites such as Udemy offer students video courses on subjects like Android programming with ongoing tests and teacher support. Similarly, van Dam is counting on using this approach with his site, where he offers monthly and lifetime access to the video courses which also contain additional resources such as workbooks and case studies. However, like other trading courses, the Lex van Dam academy isn’t cheap and starts at $1,899.
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Interestingly, with the integration of apps for the Tradable platform, Lex van Dam chose not to integrate the academy’s education content but is launching trading tools. The free apps include a fundamental indicator that compares leading economic figures from various countries on a single interface. Also launched is a trade radar that is similar to a quote board, but in addition to the standard bid, ask, last, net change columns, also has technical figures such as RSI and ADX numbers, as well as technical charts and a trading journal.
In public comments about the apps, Lex van Dam stated, “I’m on a quest to make trading more accessible, offering the highest quality information and tools without the trader having to invest unnecessarily in expensive resources.” He added, “I believe I have simplified trading with my portfolio of apps and I hope this will encourage thousands more people to trade FX and CFDs. FX is a $5.3 trillion per day market – a market which can present significant rewards to those who learn how to navigate it.”