Academy

Level exams

One paper for each level, made of the questions its lessons already ask. One question at a time, the reason after each answer, and the lesson it came from beside it.

Choose a level

The exam room

4 levels, 4 papers.

A paper asks up to 12 questions and is passed at ten of twelve. Check each answer to see the reason, then go on. At the end you are shown what was missed and which lesson teaches it.

Beginner
The vocabulary and the mechanics: what is traded, how it is quoted and how a leveraged position is funded.
9 questions from 3 lessons · pass at 8 of 9 · this level has 9 questions, so the paper is shorter than twelve
Intermediate
Reading a chart and reading the economy: price structure, moving averages, and the policy that sits behind a currency.
12 questions from 6 lessons · pass at 10 of 12
Advanced
Indicators, scheduled news and automation, each with what it measures and where it misleads.
12 questions from 7 lessons · pass at 10 of 12
Professional concepts
How risk is sized, measured and lived with: the part of the craft that outlasts any one strategy.
9 questions from 3 lessons · pass at 8 of 9 · this level has 9 questions, so the paper is shorter than twelve

The order of the questions is shuffled each time a paper is started. No answer, score or name is stored or sent.

What each paper covers

The lessons behind the questions.

Each level exam: its lessons, the number of questions asked and the pass mark
Level	Lessons examined	Questions	Pass mark
Beginner	Introduction to forex trading Understanding currency pairs Leverage and margin	9	8 of 9
Intermediate	Candlestick patterns Support and resistance Moving averages Central bank policy How a blockchain settles a payment Crypto markets: custody, weekends and venues	12	10 of 12
Advanced	Fibonacci retracement RSI and MACD Bollinger Bands Scheduled news and how markets react Testing a set of rules Expert Advisors and how they run Backtesting, optimisation and overfitting	12	10 of 12
Professional concepts	The risk-reward ratio Position sizing Trading psychology	9	8 of 9

Beginner has 9 questions and Professional concepts has 9 questions, three for each lesson, so those papers ask all of them rather than twelve. The pass mark keeps the same proportion, ten in twelve, rounded up.

A question asks what a lesson says, not what to do. Reading the lessons first is the intended order; the exam is a way to find what did not stay. Educational information, not investment advice or a recommendation to trade.

The certificate

What a pass is, and what it is not.

A pass offers a certificate to print. It states the level, the score, the date and, if you type one, a name. It is a record that these questions were answered on this website on that date.

It is not a qualification, not a licence and not evidence of an ability to trade. Nobody checks who answered, whether the lessons were open in another tab, or how many attempts it took. Knowing how a stop order works is not the same as leaving one alone when a price is falling.

The name is typed by you, is kept only in the open page, and is never stored or sent. Close the page and it is gone, with the score. The practice room has a different certificate, for lessons completed on one device.

Questions people ask

About the exams

Is the certificate a trading qualification?: No. It is a record that a number of questions about the Academy’s lessons were answered correctly on this website on a given date. It is not a qualification, not a licence, and not evidence of an ability to trade. Nobody checks who sat the paper, and the result is not verified.
Where do the exam questions come from?: From the lessons themselves. Every Academy lesson ends with three questions written from its own text, and a level’s exam is drawn from the questions of that level’s lessons. The order is shuffled each time a paper is started.
Is my score or my name saved anywhere?: No. The answers, the score and any name typed for the certificate are held only in the open page and are gone when it is closed or reloaded. Nothing is stored in the browser and nothing is sent anywhere.
Does passing an exam mean I am ready to trade?: No. An exam shows that the words and mechanics of the lessons were understood on the day. It says nothing about how anyone behaves with money at risk. Most people who trade with leverage lose money, and knowing the vocabulary does not prevent it.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.

Continue

Fetching the page

Level

Lessons examined

Questions

Pass mark

Beginner

8 of 9

Intermediate

10 of 12

Advanced

10 of 12

Professional concepts

8 of 9

About the exams

Is the certificate a trading qualification?

No. It is a record that a number of questions about the Academy’s lessons were answered correctly on this website on a given date. It is not a qualification, not a licence, and not evidence of an ability to trade. Nobody checks who sat the paper, and the result is not verified.

Where do the exam questions come from?

From the lessons themselves. Every Academy lesson ends with three questions written from its own text, and a level’s exam is drawn from the questions of that level’s lessons. The order is shuffled each time a paper is started.

Is my score or my name saved anywhere?

No. The answers, the score and any name typed for the certificate are held only in the open page and are gone when it is closed or reloaded. Nothing is stored in the browser and nothing is sent anywhere.

Does passing an exam mean I am ready to trade?

No. An exam shows that the words and mechanics of the lessons were understood on the day. It says nothing about how anyone behaves with money at risk. Most people who trade with leverage lose money, and knowing the vocabulary does not prevent it.