Top Live Forex Trading Rooms: Free

Learning Forex trading can be quite overwhelming and challenging. One of the best ways to learn how to trade is to follow a mentor whose trading style you can emulate.

This applies to really any discipline in life: following a mentor will always be more effective than trying to go it on your own.

Considering how much of a high-stakes game Forex is, these are the best live trading rooms out there.

These YouTubers offer free live trading rooms and are some of the best Forex education out there.

Each of these traders has their own distinct trading style, so choose whichever style works better for you.

1. Raja Banks

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Raja Banks is the reason I am a profitable trader. I have found his trading philosophy to be what made the most sense to me, and by implementing his systems into my own trading, I am able to make good profits in the Forex markets.

Discovering Raja Banks(WicksDontLie formerly) was a game-changing event in my Forex trading career.

Raja has regular live streams for Pre-New York and the early New York session. The streams are done on Zoom and also broadcast on YouTube.

The proof is in the pudding: in 2021, Raja grew a $50,000 account to nearly $1,000,000.

To participate in the Zoom stream, you must be a member of Raja’s community called Market Fluidity, where you’ll also get access to lots of additional educational content.

Joining Market Fluidity is not free, so even the free live streams have a ton of value. You can always start out with the YouTube streams and eventually sign up if you wish.

Raja only trades XAU/USD and GBP/JPY.

2. TraderNick

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TraderNick is a very popular Forex YouTuber with over 300,000 subscribers. He posts educational content and also hosts live trading rooms where anyone can participate.

Nick is a swing trader and his trades often last for days, netting hundreds of pips.

If you have the patience and fortitude to handle wild market swings, Nick is the trader to follow. His videos show his successful track record.

Nick primarily trades AUD/USD and XAU/USD.

3. Wali Baba FX (Hindi/Urdu for India and Pakistan)

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If you’re from India or Pakistan and want to learn Forex trading in Urdu/Hindi, Wali Baba FX is the channel to follow.

He hosts 6-8 hour long trading sessions every single day and he is a skilled technical and fundamental analyst.

His trading style is more traditional and he extensively uses fibonacci and trendlines/chart patterns to conduct his analysis.

Wali Baba looks at a lot of different currency pairs, but he primarily trades Gold and GBP/USD.

4. Forex.Today

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Forex.Today is hosted by Wayne McDonnell, who is one of the pioneers of live trading rooms. Back in the day, he ran FX Bootcamp, a community of very successful Forex traders.

He currently livestreams on his YouTube channel.

Wayne’s trading style is old-school, using moving averages, fibs, pivot points, and oscillators to frame trading plans.

He has a ton of experience in the markets, and if you’re looking for some great free Forex education, he’s definitely worth following.

Wayne trades a big basket of currency pairs.

How to learn Forex from a live trading room

Live trading rooms are NOT meant to be used as trading signals. Instead, you should follow the pros to see what they’re doing and apply their knowledge to improve your own trading.

If you simply buy and sell by blindly following the pros, you will not be able to build your own trading plan, so if and when the live stream is not on, you won’t be able to find any trades, or worse, you’ll end up losing your gains.

Another way to utilize a trading room is to validate your ideas. If you’re looking for buys and the pro analysis is also biased towards buys, that can give you some more confidence that your analysis is correct.

Some of these guys also have a live chat so you can ask them questions and they’re usually kind enough to answer.

Eventually, you want to remove your dependence on the live stream for trading knowledge and instead participate for the social aspect!

Don’t forget risk management

Risk management is always more important than the trading strategy you use. All of these traders have their own system for risk management, and it’s up to you to adapt their philosophy(s) into your own tolerance for risk.

Conclusion

Finding the right mentor and following them can be a game-changer in Forex trading. Provided that you stick to what they teach, you can slowly become profitable.