Andrew Mitchem
Having risen from humble beginnings to relative riches as a forex trader, Andrew Mitchem has been sharing his trade secrets with paying customers on his website The Forex Trading Coach. This guide will give traders the lowdown on what Andrew Mitchem offers and the fees he charges, as well as listing the pros and cons of his service. We also list the best alternatives to Andrew Mitchem.
Andrew Mitchem’s services are expensive.
Instead, we recommend using our list of the best:
– Forex robots
– Forex training courses
– Brokers with the best educational content
Who Is Andrew Mitchem?
Formerly earning a living as a dairy farmer, Andrew Mitchem turned his hand to forex trading in 2003. He found he had a talent as a trader, and after amassing wealth and success he set up the Forex Trading Coach website to share his knowledge with others in 2009.
The New Zealander has since written a book about his forex trading method and has more than 3,600 members from 101 countries on his website.
Andrew Mitchem is also featured daily on the forex review site Forex Peace Army (FPA), providing his takes, plus strengths and weaknesses analysis on forex markets.
What Is The Forex Trading Coach?
The Forex Trading Coach (TFTC) is a website and company created by Andrew Mitchem. With headquarters located in Nelson, New Zealand, it aims to teach budding traders how to make money in forex.
Andrew Mitchem takes charge of the company and has support from two fellow forex traders who he introduced to the game – Paul Tillman, the Director of Coaching Services, and Mikalai Surynau, Forex Mentor. The pair have been trading forex since 2005 and 2012 respectively and both play active roles in coaching mentees.
On the site, Andrew Mitchem goes into detail about his background struggling to support his son as a single father before getting into investing. After four years of inconsistent profits, he came up with a strategy that he says he has used successfully since. This is the system TFTC is built upon.
Andrew Mitchem’s course claims that by following this strategy, forex traders should be able to make a living by delivering positive returns every year through trading for just 30 minutes a day.
Free Training
TFTC has several free resources available on his website and YouTube:
Webinars
TFTC occasionally hosts live webinars you can sign up to for free. Topics include different angles on trading forex profitably. These webinars are typically surface-level and are not recorded but are hosted recurringly.
To sign up you will need to fill out a form with your first name, email address, and how many years of investing experience you have.
eBook
Andrew Mitchem has written a book called ‘From Dairy Farmer to Forex Trader: How my Forex Journey Can Fast Track Your Trading Success’. The book covers Andrew Mitchem’s rise to forex-trading success from humble beginnings and promises that you can do the same. Note, we would caution against any book that promises to make you rich.
It is available for free as an eBook on the TFTC website by filling out the same form mentioned above.
Risk Calculator
After filling out personal details you are given access to a risk calculator app. You will need to provide the tool with the size of the stop loss of the trade and the % of your account you are willing to risk, and the calculator will display a recommended position size you should open with each new trade.
Podcast
Andrew Mitchem’s podcast provides users with short videos on a range of topics. This includes the trader’s thoughts on markets and answers to popular questions submitted by users, or a summary of the market at the end of the week.
App
The TFTC app is available to download for iOS and Android devices. This allows you to get updates from forums and chat rooms on the go.
Recommendations
Andrew Mitchem provides a list of all the brokers he recommends and why, including many that he claims to use personally. His preferred broker is Blueberry Markets. Some other popular brokers he mentions are IG, Pepperstone, Fusion Markets, and Infinox.
There are also direct links to forex tools including a forex virtual private server (VPS) service, a copy trading solution, and a forex trade calendar.
YouTube
Andrew Mitchem posts weekly videos on YouTube. Many of these correspond to his podcasts, but some are unique to his YouTube page. They tend to mainly operate as advertisements for TFTC, but also have tips, including a how-to guide on spotting potential trend reversals and account management techniques to turn a profit from a small investing account.
Some of the channel’s most popular videos are Andrew Mitchem’s explanations of investing lingo and the basics of his trading method. Most videos are of him talking to the camera, rather than actively investing.
Pattern Trader
The TFTC Pattern Trader is a forex robot that constantly scans markets for trends and potential breaks. TFTC members can program the pattern trader themselves or access robots created by other users.
Bots can be used on the ‘training ground’ which is a replica of the market where the bot is tested against historical data to see how successful it would be. There is further testing by ‘Paper Trading’ which tests the bot on real markets, but with demo funds.
When creating the bots, you have control over the following:
- What market you wish to test the bot in (between 7 major currencies, 21 minor currencies, 10 exotic pairs, equities, and commodities)
- Time frames and patterns (between bullish and bearish reversals and continuations)
- Indicators (engulfing candles, outside bars, pin bars, Bollinger bands, Stochastic oscillators, etc.)
- Entry requirements
- Maximum risk per trade
- Stop loss or take profit orders
- When to break even or close orders
- What data to use when training and testing the bot on
- The objective of the robot
While the forex bot may sound appealing, we recommend more established and top-rated forex bots:
Forex Robots & Signals
Forex Courses and 1–1 sessions
The main service that is provided by TFTC is the forex training course. This is a video course consisting of 14 topics:
- Money Management
- Metatrade 4/5 Platform
- Candle patterns
- Trading with Fibonacci
- Support and Resistance
- Stochastic and Divergence
- Bollinger Bands
- MT4/MT5 Indicators
- Templates and Profiles
- Which Time Frame To Use and Why
- Putting It All Together
- Monday EUR/GBP Breakout Strategy
- Interactive Trading Video Samples
- Trading Examples
The estimated run time of each topic ranges from 15–90 minutes, with most around 45 minutes long. The service comes with coded MT4/MT5 indicators and templates. Through purchasing the online video course, users can also join a 24/7 forum where customers share their signals and their trades.
Additionally, Andrew Mitchem posts daily videos about his trades, outlining his thought process and showing the strategies he uses. Mitchem’s big claim as a forex coach is that all students need to do to make an annual profit is to follow this guidance, as he has made a profit from trading each year since 2010. We would urge caution when any trader looking to promote or sell a service makes such claims.
Purchasing this service also allows you to request personalized coaching with Director of Coaching Paul Tillman. This can occur face-to-face for a trading day if you are in the US or Canada, or via five 1-hour sessions on Zoom for those outside of the US and Canada.
Note, while the course offers some benefits, we would recommend starting with some of the top-rated forex training courses in 2024:
Best Forex Training Courses
Pricing
The online video course is available for $2,497.00 (USD). As well as the course, users get:
- Daily videos of Andrew’s trades to follow for recommendations
- Previous webinar recordings and access to future weekly live webinars
- Custom-coded MT4/MT5 software
- Members-only chatroom and forum
- Unlimited follow-up support
Note, this is a high price point and many leading brokers offer free or low-cost educational tools and videos.
The 1–1 coaching is available to purchase separately from the training course but, once bought, you will have lifetime access to the video training course. There is no fee quoted for this on the website. To purchase it you are required to contact Andrew Mitchem via email or send in a video question regarding it via the form on the website.
The TFTC Pattern Trader is available to try out for free and purchase separately from the video course. If you have purchased the video course, you will still need to purchase the Pattern Trader separately.
The Pattern Trader has its own pricing mechanism that is based on a subscription policy. For the 10-day free trial, you will have access to the service that allows you to create and train 10 bots. From there, there are five pricing tiers:
Level 1
For $690 a year, you will have access to the TFTC that can create and train 10 bots, connect telegrams for live suggestions on when to open a position and deploy the bot to the paper trading stage.
Level 2
For $1,390 a year, you will have access to all of the above, as well as the ability to deploy your bot onto live markets, connect your MT4/MT5 account, have access to the forward testing feature, edit the values of your indicators and the objective of the bot when creating it, and test on your portfolio.
Level 3
For $1,890 a year you have access to everything from the level 2 account, but you can create 20 instead of 10 bots, and you can set your bot to auto-pilot mode to open positions automatically.
Level 4
For $2,990 a year, you have everything on the Level 3 plan, but can make 30 instead of 20 bots and can connect to three MT4/MT5 accounts.
Level 5
And finally, for $3,490 a year, you have access to everything from the level 4 plan, but can make 50 instead of 30 bots and can connect to five MT4/MT5 accounts.
Note, these plans are expensive. We would recommend one of the lower-cost services which come with high user ratings.
Strengths Of Andrew Mitchem’s TFTC
- Lifetime support once purchased
- Some positive reviews by clients
- Transparent about what you will get for your money, the trading history of those you will be coached by, and some custom-tailored features
Weaknesses Of Andrew Mitchem’s TFTC
- No prices listed for 1–1 coaching on the website
- Very expensive to purchase the course and the Pattern Trader
- The free content requires submitting contact information and is not in-depth
- Very small coaching team which may impact the availability of 1–1 coaching
Customer Service
Andrew Mitchem is contactable via the website as well as his social media. You can fill out a form with your name and contact email and your enquiry. There is also a function to send in a video, audio, or text of your query via the website.
Additionally, there is a 12-hour phoneline at +64 21 121 6268. This is open on weekdays from 9 am–9 pm NZST.
Should You Sign Up With Andrew Mitchem?
Andrew Mitchem has opted to share his knowledge through a course, webinars, YouTube videos, podcasts and creating a bot service. However, though there are some free resources on his page to help you get started, you will need to pay a significant amount to gain access to Andrew Mitchem’s full course and services.
With this in mind, we would start with the top brokers with educational content, forex training courses, and forex robots.
FAQs
Can I Have 1-1 Coaching With The Forex Trading Coach From Asia?
The Forex Trading Coach’s 1–1 sessions are available globally. If you are not from the US or Canada, you can access the service through Zoom. It is provided via five 1-hour Zoom sessions.
Note, we would start with the highest-rated forex training courses.
Is Andrew Mitchem Legit?
With many scam courses and services out there, it is valid to have concerns. Andrew Mitchem appears to be transparent about his past and his journey into becoming a forex trader. However, to avoid the risk of scams, we recommend signing up with trusted brokers and educational providers.
Is Andrew Mitchem’s Forex Trading Coach Course Only Available In English?
The company has a forex mentor – Mikalai Surynau – who speaks Russian and provides the course in Russian. However, apart from that, the only language the course is given in is English.
How Much Does Andrew Mitchem’s Forex Trading Coach Course Cost?
The pricing for The Forex Trading Coach’s video course begins at nearly $2,500, in return providing access to 14 video lessons in which Andrew Mitchem describes his forex system.
Alternatively, traders can opt for TFTC’s proprietary bots, called Pattern Trader. There are five tiers of Pattern Trader membership ranging between around $650 and $3,500 in price, with the higher tiers allowing traders to trade live markets, and access more features. However, this is expensive and we would recommend starting with lower-cost and highly-rated forex robots.
Can Traders Get Rich From Andrew Mitchem’s Forex Trading Coach’s Course?
When it comes to investing, there are no magic bullets and no guarantees. Andrew Mitchem has had some success at trading and has passed some of his know-how to students over the years. But paying for the course is not enough—traders need to have the capacity and discipline to properly learn and apply the techniques on offer.
At the same time, remember that any academy is a business, and viable businesses tend to be good at marketing themselves. Research any coach and course carefully before putting your money down, and ensure it offers the kind of experience and training that you require.
Alternatively, use our list of the forex training courses with the best user reviews.