From what I understand, you need to trade full-time in order to deduct educational related trading expenses such as magazines, courses, or newsletter subscriptions. If I'm not a full-time trader but create an LLC that has its own bank account and trading account under the LLC, can the above type of educational expenses then be deducted?
A single member llc is a tax nothing, a disregarded entity that does not affect tax filing unless you elect to pay entity/corporate tax. It will not alter your status or increase your reach.
The rules to deduct expenses stem from IRC §212 and Reg §1.212-1, and are partially explained in Pub 550 and Pub 535. The llc will get these deductions if you check the box with Form 8832, but it will then be paying corporate tax. You may also hit certain tax rules for investment companies or Personal Holding Companies.
Note that an LLC will not be taxed at a beneficial capital gains rate.