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- Last Posted: 2017-06-14 08:41:01
Careers in Forex Markets2016-10-31 10:53:38
The foreign exchange market is one of the most challenging, exhilarating, and rewarding markets worldwide. With an average daily turnover of $5.3 trillion, forex markets change hands 24 hours a day and five days a week. If you are interested in purchasing and selling currencies, you may want to consider establishing a career in this market.
Forex Market Analyst. This professional, also known as currency researcher or currency strategist, provides a commentary about the forex market and other related factors influencing currency values. They write insights on a daily basis, given the fast-paced movement of the market. Individual and institutional traders refer to this commentary to aid their decision-making. An analyst also holds seminars or webinars to help current and potential clients to become more familiar with the market.
Professional Trader. If you want to dip your hand into the market, by all means. Hedge funds and mutual funds contending with currency trading are looking for account managers who have capability to make sound trading decisions, facilitate trades, and handle individual accounts based on the financial goals and risk appetite of clients, as well as prevailing market conditions. Three things are expected of them: maximize gains, minimize losses, and hit profit targets.
Programer. A software developer, normally hired by brokerages, designs proprietary trading platforms for trading, viewing market quotes, and using charts, indicators, and other applicable tools. Although they are not usually required to have an experience or two about the currency market, having a knowledge is a plus. Their work is vital since brokerages need to come up with distinct software features to attract more clients and fix technical glitches for best trading results.
Exchange Operations Associate. Financial institutions need people who have high forex knowledge to assist people in managing their accounts and trades. Aside from that, they open accounts for new clients, validate clients’ identities and documents submitted, and process deposits, withdrawals, and orders. In the case of trade audit associate, they are responsible for resolving trade-related issues, supervising the exchange, and reconciling forex transactions.