The benefits of trading forex online with AstroFX are plentiful. Not only will you have the chance to escape the 9-5 drill by working for yourself, but you’ll have the opportunity to choose your own hours. Crucially, those that are able to create tailor-made trading strategies that consistently outperform the markets typically earn a lucrative income.
However, if you think forex trading is as simple as joining an online broker and buying/selling currencies at the click of a button – think again. On the contrary, most forex traders lose money, not least because they do not have the required skills or knowledge to succeed.
As such, it’s crucial that you devote sufficient time and energy in learning your trade. One such provider that aims to teach newbie traders everything they need to know is AstroFX. The UK-based provider offers a range of forex courses that have been catered to the absolute beginner.
Here we review the AstroFX forex course in great detail. – so be sure to read it before signing up.
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What is AstroFX?
As is the case with any paid-for online programme, a good starting point is to unravel some information about the provider itself. So, AstroFX is a London-based company that specializes in training programmes. More specifically, all of the provider’s programmes centre on the online forex trading space. The overarching concept is to help newbie investors learn the required skills to succeed as an online forex trader.
Since the company was founded, AstroFX claims to have taught more than 2,200 students. While the vast bulk of students opt for its in-house training, the provider also offers an online version of the programme. This is suited to those that are based outside of the UK, or if current commitments do not permit in-house attendance.
In terms of the specifics, students have a number of choices at AstroFX. This includes a one-on-one programme for those that require a fully personalized learning journey or a group programme that typically consists of 10-15 students. Irrespective of the option you sign up for, all AstroFX students have unfettered access to extra-curriculum resources.
This includes more than 70 in-depth videos, a trading guidebook, and access to the AstroFX membership zone via Telegram. Outside of its core product range, AstroFX also has a strong presence on social media. This includes heaps of educational videos via its YouTube channel, which have since attracted more than 3 million views.
AstroFX offers a range of programmes to suit all skill sets, budgets, and time resources. As we cover in more detail later on, this also includes its Premium AstroFX Accelerated programme – which not only consists of 12-months of high-level training – but access to the company’s London trading floor.
Nevertheless, let’s start with the platform’s bread and butter offering – which is its one-on-one in-house training programme.
One-on-One Training Programme
If you’re looking for the most effective way to learn the ins and outs of forex, it might be worth considering the one-on-one programme offered by AstroFX. As the name suggests, you will be taught exclusively by the company’s founders on a solo basis.
This allows you to benefit from a personalized training programme that is tailored-made for your specific skill-set. For example, if you’re comfortable on fundamental news analysis, but you need guidance on how to read the technicals, the one-on-one course is ideal.
You will also have the opportunity to ask as many questions as you like without needing to share the floor space with other students. With that being said, the one-on-one package is going to be the most expensive option on the table, albeit, it’s the most effective way of learning what you need to know.
The programme is carried out over an intense 3 day period at the provider’s Mayfair hub. In terms of pricing, you will need to get a bespoke quote from the team at AstroFX, as each training programme is unique to the student undertaking the course.
Group Training Programme
If you don’t have the resources to benefit from the one-on-one offering, the next best option available to you is the group programme. The group option has the capacity to handle up to 20 students, although the team at AstroFX note that they typically limit this to 10-15.
The reason for this is that they want students to have the opportunity to ask as many questions as possible, which isn’t possible when group numbers are too large. Much like the one-on-one programme, the group option is offered at AstroFX’s Mayfair office. The programme also runs for 3 days.
Although you won’t be getting a tailor-made one-on-one learning environment, the group option does come with its advantages. At the forefront of this is having the opportunity to network with fellow forex traders. Once the course has concluded, you will then be part of a network of traders and thus – you can each learn and grow from one another.
While the in-house options are the most sought after, AstroFX also caters for those of you that are unable to attend its London-based office. If this sounds like you, it’s well worth considering the provider’s online course. The online option operates in a different manner to the in-house program, as you will be utilizing pre-recorded material.
The team at AstroFX notes that the material is regularly updated to ensure it still remains relevant in an ever-changing forex trading industry. In total, the online course comes jam-packed with 36+ hours worth of exclusive material. This not only covers technical and fundamental analysis but the psychological aspects of trading, too.
The overarching benefit of opting for the online course is that you can complete each material at your own pace. Moreover, you can re-watch the material as many times as you wish – so you can take as much time as you need until you feel that you have nailed the module in question.
Fundamental Online Course
AstroFX has also added an online course that specifically targets fundamental analysis. For those unaware, this is the process of understanding how real-world news events can influence the price of a currency. For example, if a recent IMF report notes that the UK economy is performing better than expected, it’s likely that the value of GBP will increase against the USD.
This particular course is best suited for those of you that are strong on the technicals but need some in-depth guidance on analysing the relationship between news and the value of a currency pair. Much like the main online course at AstroFX, you can navigate yourself through the programme at your own pace.
AstroFX Accelerated Package
If you’re looking to put your heart and soul into becoming a full-time online forex trader, it might be worth exploring the merits of the AstroFX Accelerated package. In a nutshell, this is the ultimate programme that consists of a 12-month learning process.
As such, you will learn about every nut and cranny that the forex industry is accustomed to. Not only this, but you will also have access to the company’s Mayfair trading floor, alongside a funded forex trading account.
Due to the comprehensiveness of the Accelerated programme, let’s explore what you actually get in more detail.
✔️ AstroFX Online Course
As part of the package, you will obtain complimentary access to the provider’s online course. As noted earlier, this includes 36+ hours worth of in-depth material across the technical and fundamental aspects of forex.
The course also includes the psychological perspective of forex trading – which is crucial. You will have lifetime access to the online course, so can you refer back to the material whenever you wish.
✔️ Access to the AstroFX Trading Course
The Accelerated package also gives you access to the AstroFX trading floor in Mayfair, London. This might only be suitable if you based in and around the capital. If you are, you’ll have the capacity to learn and improve your forex trading skills with the team at AstroFX sat with you whenever you need guidance.
The company notes that it has 18 trading desks at its HQ, so it’s likely that you will be learning alongside other like-minded students that wish to succeed in the world of FX trading.
✔️ Funded Trading Account
Once the team at AstroFX feel that you are ready to begin trading with real-world funds, you will be given a funded account. In Layman’s terms, this means that you will be trading funds provided by the course provider. The specific amount that you will be able to trade with will depend on the programme that you sign up with.
As per AstroFX itself, limits are as follows:
- £5,000 Programme: £25,000 Funded Account
- £10,000 Programme: £50,000 Funded Account
- £20,000 Programme: £100,000 Funded Account
- £50,000 Programme: £250,000 Funded Account
It is important to note that the above figures are based on a leveraged account of 4:1. In other words, a £100,000 funded account is based on a margin of £25,000.
✔️ Exclusive AstroFX Terminal
When it comes to trading forex at the provider’s Mayfair office, you will be doing so with an in-house built platform. The software is unique to AstroFX, subsequently allowing you to combine technical ad fundamental analysis via a single hub.
You will, of course, receive training from AstroFX on how to use the terminal. Moreover, you will benefit from ongoing help as and when you need it.
✔️ Ongoing Performance Reviews
To ensure that you are building and improving your forex trading skills on a continuous basis, the Accelerated programme comes with a monthly performance review during your first year.
This is crucial, as it will allow the AstroFX team to assess whether you are facing any specific stumbling blocks. For example, if the team feels that you need further improvement on utilizing technical indicators, this will be addressed at your monthly review.
You will also be accustomed to a quarterly trading review. This is specific to your trading results, as opposed to your skillset. As per the review, if the team at AstroFX feel that you are ready to move to the next level, they will consider increasing your funded account.
Although there are no time-specific thresholds, the overarching objective is to get you oven-ready for a $2 million trading account, alongside a full-time salary. If and when you get this point will depend on how effectively you are able to develop as a forex trader.
What Will You Learn at AstroFX?
So now that you know the specifics of what AstroFX offers, we are now going to explore what you are going to learn through its in-house and/or online courses. This is split across three main pillars – technical analysis, fundamental analysis, and the psychological aspect of trading.
🥇 Technical Analysis
Ask any seasoned forex trader what the single most important characteristic of success in the industry is, and you can be all-but-certain that they will tell you technical analysis. For those unaware, technical analysis is the art of reading charts. After all, this is the aim of the game in the world of buying and selling currencies, so it’s crucial that you learn the tools required to do it effectively.
In order to read forex charts in an advanced nature, you will need to have a firm grasp of technical indicators. This includes the likes of the RSI, Bollinger Bands, Moving Averages, and Fibonacci Retracement. In fact, there are dozens of tools that allow us to read historical charting patterns, and how this relates to the current and future price of a particular currency pair.
As a result, the vast bulk of your training at AstroFX will centre on the technicals.
🥇 Fundamental Analysis
Equally as important, fundamental analysis plays a major role in the online forex space. Crucially, this refers to the influence that real-world new events can have on the future price of a currency. Let’s take Brexit as an example. When the UK population voted to leave the European Union in 2016, the pound sterling went on a rapid downward spiral.
Those that understand the importance of fundamental analysis will have no doubt placed a suitable trade to profit from the news. This is why AstroFX programmes not only cover the ins and outs of technical analysis but the fundamentals, too.
🥇 Psychological Aspects of FX Trading
Often overlooked by newbie traders, AstroFX will also prepare you for the psychological aspects of forex trading. In fact, this is one of the greatest barriers facing inexperienced traders, as they do not have the required mindset to deal with losses.
This is something that all traders experience – regardless of skillset. As such, it’s important that you acknowledge that even the most successful traders in the forex space encounter ups and downs, so it’s notable that AstroFX incorporates this into all of its programmes.
What Does a Forex Trading Career Look Like?
If you’ve read our review up to this point, then you’ll know that getting to the stage where you are able to trade currencies and make a full-time living is no easy feat.
As we have discussed, not only do you need to inject a significant amount of time and effort into the learning process, but you will also need to be prepared to invest money in a credible training program.
With that being said, let’s explore what a forex trading career typically looks like – and how this relates to the Accelerated programme offered by the team at AstroFX. In doing so, you’ll be able to get a much clearer picture as to whether or not a trading career is the right long-term role for you.
🥇 Junior Trader
First and foremost, you will initially start your forex trading career as a Junior Trader. As the name suggests, this means that you are required to join the investment firm on an apprentice-style basis. In other words, you will benefit from ongoing guidance from the experienced traders at AstroFX. This isn’t related just to the specifics surrounding technical and fundamental analysis.
On the contrary, you will learn everything there is to know about trading currencies on a full-time basis. For example, this might include training on how to use the firm’s in-house trading software, or the ins and outs of leverage and margin accounts. Furthermore, you’ll also be prepared for the all-important psychological journey of trading forex
As we noted earlier in our review, it doesn’t matter how long you’ve been trading assets – you will always encounter winning and losing trades. The key point is that you need to learn how to deal with losing investments, as this is something that newbie traders often struggle with. This, alongside a range of other important learning curves, will form the basis of your Junior Trader career.
In the case of AstroFX, the team notes that the Accelerated program is structured over 1-2 years. This ensures that you are given sufficient time to make the transition from a Junior Trader, to that of a trader that is given more responsibilities. Crucially, as you progress through the programme, you will be afforded greater account limits and thus – be able to increase your earning potential.
🥇 Morning Fundamentals
It is standard practice in the brokerage space for firms to host morning meetings to discuss fundamental news from the prior day. This is to ensure that the trading floor is kept well abreast of key market developments. Moreover, this is also an opportunity for Senior Traders to discuss some potential trading ideas to capitalize on the news.
This is no different to the process undertaken by AstroFX, with the firm hosting daily fundamental meetings before the trading day begins. During the first few months of your training programme, it is unlikely that you will be asked to contribute to the meeting. Instead, you will be afforded the opportunity to learn and understand how fundamental news plays a major role in the forex industry.
For example, let’s say that during the previous evening, it was announced by the UK government that a second Brexit referendum is all-but certain to be approved. This might be in response to a major swing in public opinion, with the masses now pointing towards a clear vote for Remain.
As such, the team at AstroFX would explain their thoughts on how best to trade the news. In all likelihood, this would result in an upward surge of pound sterling, so a long order on GBP/USD might be the call.
🥇 Commission-Based Role
It is important to note that forex trading is a performance-driven industry. In fact, this sentiment is true across the entire investment spectrum. As such, it is common practice for Junior Traders to work on a commission-only basis. On the one hand, this does mean that you will not be accustomed to the security of a fixed salary.
With that said, a fixed salary would severely limit the amount of money that you would be able to make from your forex trading endeavours. As such, trading firms like AstroFX employ a commission-only structure to facilitate uncapped earnings.
In other words, the more successful trades that you are able to make as a Junior Trader, the more money you will be able to earn for yourself. This is just the nature of the investment space, so if the safety-net of an annual salary is what you are after, a career as a forex trader likely won’t suffice.
🥇 Account-Based Trading
One of the overarching barriers facing newbie traders that wish to buy and sell forex pairs for a living is that of their starting bankroll. For example, let’s say that you have saved £20,000, which you wish to use to fund your brokerage account. With such a small bankroll available to you, you’ll find it very difficult to make enough money to earn a decent living – even if you are successful in placing more winning trades than losing ones.
For example, even if you had a remarkable year that resulted in gains of 100%, you would still make just £20,000. Once you factor in the capital gains tax that you would be liable to pay – alongside your day-to-day living costs, you wouldn’t be left with much. On the contrary, by opting for a Junior Trading career via the AstroFX Accelerated programme, you would benefit from a pre-funded trading account.
The specific amounts on offer will depend on the programme that you opt for. For example, the £20,000 programme ensures that you start with a trading bankroll of £100,000. The £50,000 programme comes out even higher at £250,000. Crucially, these numbers are not set in stone on the AstroFX trading floor. Instead, there is virtually no limit to the size of your brokerage account balance, as everything is based on performance.
The performance of your trading results is reviewed once every three months. If the team at AstroFX feel that you have exceeded your pre-defined targets, and that you are ready to take things to the next level – you will likely have your limits increased.
Not only does this relate the specific limit of your account, but also your ability to apply higher leverage. In doing so, you’ll be able to target much higher returns and thus – increase your earning potential. Once again, this links back to the sheer length of the Junior Trader learning journey, which at AstroFX, can take up to two years.
Who is AstroFX Suitable for?
Unless you are a seasoned investor with an extensive track record of making gains in the forex arena, then it’s likely that AstroFX is suitable for your needs. For example, if you have virtually no experience of how forex trading works, then you might be best suited for the in-house one-on-one programme. This will allow you to learn the fundamentals via an intense 3-day course.
Alternatively, if you’ve got a bit of experience in online forex trading but you feel that you are weak in the fundamental analysis department, the AstroFX fundamental course is likely to suffice.
However, if you are looking for a fully-fledged full-time career in forex trading and thus – you want to learn everything there is to know, it might be worth exploring the merits of the Accelerated programme. Not only will this provide you with 12-months of ongoing training, but you will have access to the company’s Mayfair trading floor – alongside a funded brokerage account.
Reviews of AstroFX
As is the case with any product or service available in the online space, exploring reviews and ratings available in the public domain is a great way to gauge the credibility of the provider in question.
In this respect, there isn’t an over-abundance of data to go on. The largest data set that we could locate was that of Reviews.co.uk. Across 193 individual reviews, AstroFX carries a 4.62/5 rating, which is impressive.
There are, of course, also reviews from disgruntled customers. Much of this centres on the fact that the team at AstroFX utilizes an offshore broker for its forex trading endeavours. Although we cannot say with any certainty, this is likely to be due to the leverage restrictions imposed on UK-based traders.
As per the European Securities and Markets Authority (ESMA), retail traders are not permitted to apply the leverage of more than 25:1 on major currency pairs, and 20:1 on minors and exotics. As a result, by using a non-EU based broker, AstroFX is able to provide higher leverage limits for its trainee students.
AstroFX vs Learn 2 Trade Forex Course
As we have repeatedly noted throughout this review, choosing AstroFX for your forex learning needs requires a major commitment. Not only in terms of financial resources, but time. Sure, the program is highly in-depth and is likely to provide you with all of the information you will need about trading currencies.
However, there is no guarantee that the course will mirror your expectations. There is also no sure-fire way of knowing whether a long-term career in forex trading is right for you. With this in mind, it might be worth taking a step back and first, consider the Learn 2 Trade Forex Course.
- The course itself is highly comprehensive and requires all of the inside knowledge that you would ever need to become a skilled forex trader.
- Across 11 tailor-made chapters, this includes everything from market orders, trading strategies, leverage, technical and fundamental analysis, choosing a broker, and more.
- The Learn 2 Trade course can be purchased at a very reasonable price of just £99. This is crucial, as you will not be required to hand over thousands of pounds to AstroFX only to find out that the forex trading scene is not right for you.
- The course is an essential stepping stone. That is to say, if upon reading through the material from start to finish you decide that you want to pursue a career as a forex trader, you can then consider signing up for a more lengthy program such as the one offered by AstroFX.
Find out more about the Learn 2 Trade Forex Course.
In summary, the forex training programmes offered by AstroFX are well worth considering if you are looking for a serious career move into space. Take note, not only will you need to consider the financial costs of your chosen programme, but also the amount of time and energy demanded.
As such, the provider is only worthwhile if you are looking to give your heart and soul into learning everything there is to know about trading currencies. However, a more cost-effective approach to becoming a full-time trader is to take the Learn 2 Trade forex course.
Put simply, the course guides you through the Wild West of the online forex trading scene across 11 core chapters. At a price of just £99, you will learn everything from technical and fundamental analysis, trading strategies, risk management, chart drawing, and more.
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